Selbyville, Delaware, Nov. 18, 2020 (GLOBE NEWSWIRE) -- According to industry experts, North America fitness equipment market size is projected to exceed USD 6 billion by the year 2026. Rising adoption of digitally connected gym equipment facilitated by the presence of an infrastructure well-equipped with the state-of-art technology is accelerating the industry growth in the region.
Proceeding further, the research literature sheds light on the industry segments including equipment type, end-use scope, and geographical bifurcation. It extends a detailed account of the leading industry players and evolving competitive landscape. In addition, the study hosts cases studies on the impact of Covid-19 and predicts its aftereffects for a stronger realization of the growth potential.
Moreover, rising focus among several companies towards providing a connected and immersive fitness experience by integrating digital technologies in machines, along with advancements in AI, cloud, and wearable technology is augmenting North America fitness equipment industry growth. For instance, Nautilus Inc., a US-based fitness equipment manufacturer, in October 2019, launched a digital platform JRNY that utilizes AI to offer customized workouts by automatically adjusting to the user behavior.
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Besides, increasing discounts on membership subscription for ensuring long-term contracts with new customers as well as existing consumers is positively impacting the business outlook.
Covid-19 impact:
The implications of Covid-19 outbreak have rippled across all sectors; however, fitness industry has been severely affected by the pandemic. The temporary closure of all non-essential businesses, including gyms and health clubs, as mandated by the government in Q1 of 2020 has disrupted the supply-demand chain for fitness machines, thereby hindering North America fitness equipment market expansion.
On the bright side, relaxations in lockdown rules and slow reopening of gyms is likely to rejuvenate the industry in the near-future. Besides, with growing awareness regarding health and immunity during these uncertain times, the central factor for people is to maintain and boost their health at home, which is likely to propel the demand for fitness equipment.
Equipment type overview:
North America fitness equipment market from strength training segment is likely to gain considerable traction in the upcoming years. Strength training equipment aids in increasing bone density, ultimately reducing the risk of fractures. Moreover, it allays the fear of arthritis by ensuring flexibility of joints. These health benefits coupled with new product launches are boosting the segmental share.
End-use scope:
Corporates offices are slated to contribute significantly to North America fitness equipment industry remuneration with major organizations like Google, Microsoft, and Intel incorporating gyms in their infrastructure in an effort to raise employee productivity and ensure their wellbeing.
For the record, Retro Fitness, a health club franchise present in about 120 locations across the U.S., boast of a corporate sponsored wellness program that works with companies to integrate gyms in office premises. Such programs and initiatives between corporates and equipment providers will propel the segment growth in the upcoming years.
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Regional outlook:
U.S. holds a coveted position in North America fitness equipment market due to proliferating number of health club memberships in the country. As per the IHRSA (International Health, Racquet & Sportsclub Association), in 2018, there were 62 million active memberships in the nation, a rise of 2.6% as compared to the previous year.
North America Fitness Equipment Market Competitive Dashboard (Revenue, Billion, 2020-2026)
- Johnson Health Tech. Co., Ltd.
- TRUE Fitness Technology, Inc.
- Torque Fitness
- Amer Sports Corporation
- Technogym S.p.A.
- Nautilus, Inc.
- Fitness EM LLC
- Icon Health & Fitness, Inc.
Table of Content:
Chapter 1. Methodology & Scope
1.1Market scope & definitions
Chapter 2. Executive Summary
Chapter 3. Industry Insights
3.1 Industry segmentation
3.2 Industry ecosystem analysis
3.3 Industry impact forces
3.4 Growth drivers
3.5 Growth restraints
3.6 Regulatory overview
3.7 Porter's analysis
3.8 PESTEL analysis
3.9 Competitive landscape, 2020
Chapter 4. North America Fitness Equipment Market Share, by Equipment, 2020-2026
Chapter 5. North America Fitness Equipment Market Size, by End-Use, 2020-2026
Chapter 6. North America Fitness Equipment Market Trends, by Region, 2020-2026
Chapter 7. Company Profiles
- Icon Health & Fitness Inc.
- Fitness EM LLC
- Johnson Health Tech
- Nautilus Inc.
- Technogym S.p.A.
- Amer Sports Corporation
- Torque Fitness
- True Fitness
Related Report:
Fitness Equipment Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Fitness Equipment Market size is anticipated to grow at 4% CAGR between 2020 and 2026, as per new research report. The global industry shipments are projected to exceed 14 million units by 2026. Rising awareness about health and well-being among consumers is driving the market growth. Rise in obesity rates mainly in urban population across the globe has resulted in increased health and fitness awareness among consumers. According to the Center for Disease Control (CDC), in 2017, around 70 million people in the U.S were obese. Long-term consequences of obesity disorders, such as cardiovascular illnesses, gallbladder diseases, breathing issues, cancers, and osteoarthritis, are the major causes of concern among the younger population in the U.S. along with childhood obesity, which is a leading cause of heart diseases.
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