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According to a new market report published by Industry Probe titled Fitness Equipment Market (Product Type: Cardio Equipment (Cross-country Ski Machine, Elliptical Trainers, Stationary Bicycle, Treadmill, Rowing Machines, and Others), Strength Equipment (Squat Rack, Bench Press, Hammer Strength Machine, Leg Pull-down Machine, Leg Extension Machine, Hyper Extension Bench, Smith Machine, Abdominal Bench, Leg Press Machine, Peck Deck Machine, and Others), and Others (Activity Monitors, Body Analyzers, etc.); End-use: Individual, Gyms/Health Clubs, and Commercial (Hotels, Corporate Offices, Public Institutions, and Others); Distribution Channel: Online and Offline (Hypermarkets/ Supermarkets, Specialty Stores, Brand Stores)) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’, the global fitness equipment market was valued at US$ 2.96 Bn in 2017 and is expected to expand at a CAGR of 6.7% from 2019 to 2027.
As per the report, the global Cardio fitness equipment market was valued at US$ 2.96 Bn in 2017 and is expected to expand at a CAGR of 6.7% from 2019 to 2027. Cardio fitness equipment stimulates the heart rate, builds endurance, and help in burning excess body fat. The exercise also reduces stress levels and strengthens the metabolism. As compared to strength equipment, cardio equipment are less costly, lightweight, and require less maintenance. This has led to relatively higher penetration of strength equipment over cardiovascular equipment across the world. Increasing incidence of cardiovascular diseases, diabetes, and osteoarthritis is a major concern all over the world. Exercise is set to become a key antidote to counter a variety of diseases such as diabetes, depression, heart conditions, etc. All this is expected to increase the demand for cardio fitness equipment across the world.
The report from Industry Probe states that an increasing number of individuals are actively engaging in physical activities such as signing up for workout programs and packages, or just exercising independently. This is expected to drive the growth of the cardio equipment fitness equipment market in Europe as well as in other regions. Increase in the number of health clubs all over the world is pointing to a new trend of looking great while maintaining health. In addition, the rising youth population in the world and specifically in the Asia pacific region is expected to accelerate the fitness equipment market during the forecast period. Rising awareness amongst the people regarding health and fitness, and governments across the world promoting good health measures to reduce the risk of chronic diseases are factors boosting the global fitness equipment market.
In terms of product type, cardio equipment are mostly preferred by gym & health clubs as well as individual users due to fast results. As compared to strength fitness equipment, cardio fitness equipment is expected to hold major share and maintain its market during the forecast period. Under cardio fitness equipment, treadmill fitness equipment held major market share followed by stationery bicycles in 2017. A treadmill is convenient, and a user friendly option though heavy. It can be used at homes and at gyms. Weight loss results are good after usage of treadmill. North America, especially the US, has an established fitness culture and numerous companies offer fitness equipment and gyms in the market. To incorporate the fitness culture further, especially among senior citizens, fitness and wellness centers are being established in the U.S to cater to the needs of the population and to promote a healthy and disease free life.
Some of the major players covered under the scope include Amer Sports Corporation, TechnogymS.p.A, Brunswick Corporation, Torque Fitness LLC, ICON Health & Fitness, Inc., Body-Solid Inc., Impulse (Qingdao) Health Tech Ltd. Co, TRUE Fitness Technology, Inc., Johnson Health Tech Co., Ltd., and Nautilus, Inc.
Industry Probe is a global market intelligence and advisory firm with an unwavering purpose to help businesses achieve strategic objectives through a varied range of offerings. Based on a unique amalgamation of our big data technology and human intelligence, our services are dedicated to serve the businesses operating in the consumer goods and industrial machinery sectors. Our offerings comprises syndicated research, strategic consulting & advisory services, competitive intelligence, and full time engagement to bring true & actionable insights into our clients’ business environment. Combining research & technology adoption, playing the perfect mix of the best data, and centered on consumer goods & industrial machinery sectors, Industry Probe believes in targeting one industry at a time.
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