New York, Feb. 08, 2023 (GLOBE NEWSWIRE) -- According to a report published by Next Move Strategy Consulting, the Fitness Equipment Market size generated USD 12.43 billion in 2021, and is projected to reach USD 16.56 billion by 2030, registering a CAGR of 2.8% from 2022 to 2030. The research offers a detailed analysis regarding drivers, restraints, and opportunities to highlight changing market dynamics of the market. Moreover, the research provides an extensive analysis of major segments and their subsegments to determine fastest-growing and highest revenue-generating segments.
Equipping the extensive analysis of each and every aspect of the market in 256 pages, accompanied by 194 tables and 178 figures, the report aims to become a source of guidance for market players, investors, and startups as they device strategies for next few years to achieve sustainable growth.
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| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | USD 12.43 Billion |
| Market Size in 2030 | USD 16.56 Billion |
| CAGR | 2.8 % |
| No. of Pages | 256 |
| Tables | 194 |
| Figures | 178 |
| Segments Covered | Type, End user, and Region |
| Drivers | Growth in health complications among the population across the globe |
| Increase in number of gyms and fitness clubs worldwide | |
| High adoption of virtual classes and inclination towards residential gyms | |
| Opportunities | Rise in innovative products along with the trend of home fitness equipment |
The report provides an extensive analysis of the changing market trends in the fitness equipment market share based on drivers, restraints, and opportunities. Rise in number of gyms and fitness clubs that provide various packages and discounts for weight loss and fitness-related programs drive growth of the exercise equipment market. However, high cost of fitness equipment products restrains the fitness equipment market value.
Lead Analyst for ‘Consumer Goods’ at Next Move Strategy Consulting stated, “introduction of online fitness classes is expected to create new opportunities in the coming years.”
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North America accounted for the highest fitness equipment market value in 2021, and is estimated to maintain its dominance throughout the forecast period. This is attributed to growing cases of obesity. According to the Centers for Disease Control and Prevention (CDC), prevalence of obesity in the U.S. increased from 30.5% to 41.9% from 2017 to 2020. In the same report, it was revealed that prevalence of severe obesity increased from 4.7% to 9.2% from 2017 to 2020.
On the other hand, Asia-Pacific is projected to register a steady growth rate throughout the forecast period, owing to presence of big economies including China, India, and Japan that are exhaustively adopting various strategies including technological advancements to maintain their dominance in the fitness equipment market.
The report offers an analysis of each region based on segments and their subsegments, using tabular and graphical formats. This analysis would help determine the next steps to be taken to raise the fitness equipment market size.
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The report offers a detailed analysis of the leading market players in the global fitness equipment market. Key players analyzed in the research include Johnson Health Tech Co. Ltd., Matrix Fitness, Icon Health & Fitness, Inc., Torque Fitness LLC., Nautilus, Inc., True Fitness Technology, Inc., Technogym S.p.A., Impulse (Qingdao) Health Tech Co. Ltd., Exigo-UK, Amer Sports Corporation, Kettler (GB) Limited, and Octane Fitness Life Fitness a subsidiary of Brunswick Corporation, Nautilus, Inc., and Core Health and Fitness LLC.
About Us:
Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analyzed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, however, what makes Next Move different is its top-quality research and the obsession to turn raw data into knowledge information by dissecting every bit of it. It also provides fact-based research recommendation, supported by the information collected from over 500 million websites, paid databases, industrial journals, and one-on-one consultations with industry experts across a diverse range of industrial sectors. High-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enable them to move beyond time and have competitive edge in the industry.
We have been providing services to over 1,000 customers globally, with 90% of the Fortune 500 companies, over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or industry. We provide one of the industry’s best quality syndicate as well as custom research reports, across 10 different industry verticals. We are committed to delivering high quality research solutions in accordance to your business needs. Our industry standard delivery solutions range from pre-consultation to after-sales services to provide an excellent client experience and ensure right strategic decision making for businesses.
