Portland, OR, Feb. 17, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global fitness equipment market was estimated at $13.2 billion in 2020 and is expected to hit $15.4 billion by 2028, registering a CAGR of 0.3% from 2021 to 2028. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2021–2028 |
| Base Year | 2020 |
| Market Size in 2021 | $13.2 Billion |
| Market Size in 2031 | $15.4 Billion |
| CAGR | 0.3% |
| No. of Pages in Report | 1130 |
| Segments Covered | Type, End-user, Price Point, and Region. |
| Drivers | Rise in awareness regarding health & fitness |
| Increase in the obese population | |
| Restraints | Counterfeiting of fitness equipment |
| High cost associated with certain equipment | |
| Opportunities | Several government initiatives to promote healthy lifestyle |
Covid-19 scenario-
- Increasing concerns among consumers related to Covid-19 have shifted individual preferences toward home fitness equipment across the world, which positively impacted the global fitness equipment market altogether.
- The home user segment accounted for around 60% share of the global fitness equipment market in 2020. This trend has continued post-pandemic as well.
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The global fitness equipment market is analyzed across type, end-user, price point, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
By type, the cardiovascular training equipment segment contributed to around three-fifths of the global fitness equipment market share in 2020, and is projected to rule the roost by 2028. The others segment, on the other hand, would display the fastest CAGR of 0.9% throughout the forecast period.
By end-user, the home consumer segment accounted for the highest share in 2020, generating around three-fifths of the global fitness equipment market revenue. The health, corporate, and public segment, however, would portray the fastest CAGR of 6.3% during the forecast period. The health clubs/gyms and hospitality, residential, and leisure segments are also analyzed in the report.
By price point, the mass segment garnered the highest share in 2020, generating around three-fifths of the global fitness equipment market revenue. The same segment would also manifest the fastest CAGR of 2.0% from 2021 to 2028.
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By region, North America held the major share in 2020, garnering more than two-fifths of the global fitness equipment market revenue. The Asia-Pacific region, simultaneously, would showcase the fastest CAGR of 5.7% from 2021 to 2028. The other provinces studied through the report include Europe and LAMEA.
The key market players analyzed in the global fitness equipment market report include Brunswick Corporation, Johnson Health Tech Co., Ltd., Amer Sports Corporation, Nautilus, Inc., Core Health and Fitness, LLC, ICON Health & Fitness, Inc., Torque Fitness, LLC. , TRUE Fitness Technology, Inc., Technogym S.p.A, and Impulse (Qingdao) Health Tech Co., Ltd. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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