Pune, India, Feb. 18, 2021 (GLOBE NEWSWIRE) --
The fitness equipment market is predicted to expand at a substantial CAGR during the forecast period. With the rising emphasis on improving the functioning of one’s immune system in the wake of the COVID-19 pandemic, health & fitness is garnering increasing attention amongst the worldwide population. This growing consciousness pertaining to the maintenance of optimum fitness has been pushing the demand for fitness equipment on a global scale.
The following 9 trends are expected to mark the progression of the fitness equipment market outlook:
Connected gym equipment across North America
With the internet of things (IoT) making inroads into almost every sector, the trend of connected devices across gyms and fitness centers is gaining ground. The advancements in technology have been popularizing smart and wearable devices, featuring integration with artificial intelligence (AI) and cloud technologies.
This trend has been encouraging individuals to engage in immersive workout sessions, enhancing their experience. The North America fitness equipment market share is slated to expand with numerous market players offering customized solutions to their customers via digitally connected fitness equipment.
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Spiraling health club memberships across U.S.
With the number of health club memberships soaring in the U.S., the North America fitness equipment industry forecast is expected to progress significantly. The reopening of health clubs, fitness centers, and gyms has ensured that the volume of these memberships expands further after the coronavirus pandemic. During 2018, the total number of gym memberships was over 62 million, according to the International Health, Racquet & Sportsclub Association (IHRSA).
Additionally, the demand for gym equipment such as leg press machines is likely to augment considerably across health clubs by 2026, since these machines are suitable for beginners as well as people recovering from injuries. The growing focus toward the development of glutes, quads, and hamstrings has been promoting the adoption of leg press machines across the region.
Gym infrastructure across North American corporate sector
In order to ensure optimal health & fitness of their employees, several corporate companies including Microsoft, Intel, and Google have been providing gym and health center facilities across their campuses. A significant number of enterprises have realized the need to provide employees with resources to maintain their health. The concerns regarding the overall health & wellbeing as well as optimum productivity of the workforce is expected to push the demand for gym equipment across North American countries.
Cardiovascular gym equipment to sees higher demand
The rising risk of heart conditions manifested through the surging number of heart failure cases in the region has been fostering the demand for cardiovascular equipment in North America. The cardio equipment segment held a share of more than 50% of the total revenue during 2019.
Efforts toward achieving weight loss and improved heart health has been driving the regional fitness equipment market outlook. Exercise bikes, treadmills, climbers, and elliptical machines are some types of cardio equipment displaying consistent adoption.
Strength equipment to gain traction across Europe
As strength equipment can significantly boost bone health and offer relief in conditions such as arthritis, the demand for dumbbells, barbells, and free weights has been seeing a rising curve in the recent past. The lower costs of this equipment make them an ideal choice for individuals who prefer home gyms. These factors have been fueling the Europe fitness equipment market outlook. In addition, one can expect the health & fitness sector to regain momentum post the COVID-19 crisis.
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Home gym equipment use to expand across in Europe
The trending popularity of home workouts and virtual workout sessions across the European countries has been spurring the expansion of the home gym equipment segment. With the COVID-19 pandemic forcing the closure of gyms and fitness clubs, home workouts are increasingly being preferred even in post-pandemic times due to their high convenience and lower costs.
Several market players have been seeking to stay ahead of the curve by offering live workout classes with an experienced fitness trainer to customers. For instance, Technogym introduced its live digital platform through which operators can stream studio classes or clubs to the members at home.
Growing awareness regarding health & fitness across APAC
Triggered by the spiraling prevalence of chronic conditions such as diabetes and cardiovascular disorders, a significant rise in health-related awareness is observed amongst the population across Asia Pacific. The growth in the spread of information about heart health and the risks posed by health conditions such as obesity has been creating more demand for commercial gym equipment and home gym equipment alike. Across developing countries gym equipment is now available with easy financing and payment options.
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Spike in deployment across leading hotels in Asia Pacific
Numerous leading hotels across Asia Pacific have been offering gym facilities as part of their enhanced infrastructure. For instance, in Singapore the prominent hotels such as The Westin and Marina Bay Sands provide a 24-hour gym facility to guests. The growing demand from hotels has been generating higher revenue across the Asia Pacific fitness equipment industry forecast. The thriving hospitality sector will certainly add to this propulsion.
Rising burden of heart disease across Asia Pacific
The marked rise in the prevalence of heart disease in countries such as India, Singapore, and Taiwan has been responsible for the growth in the deployment of cardio gym equipment in the region for promoting heart health. During 2017, every passing 25 minutes bore witness to one death due to heart disease in Taiwan, according to the Taipei Times.
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