Global Physical Fitness Equipment Market Report 2021: Market to Reach $19.4 Billion by 2027 - Developing Countries to be the Focal Point for Current and Future Market Growth
Global Physical Fitness Equipment Market to Reach $19.4 Billion by 2027
Amid the COVID-19 crisis, the global market for Physical Fitness Equipment estimated at US$13.5 Billion in the year 2020, is projected to reach a revised size of US$19.4 Billion by 2027, growing at a CAGR of 5.3% over the analysis period 2020-2027.
Cardiovascular Training, one of the segments analyzed in the report, is projected to record a 5.7% CAGR and reach US$11 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Strength Training segment is readjusted to a revised 5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4.5 Billion, While China is Forecast to Grow at 7.3% CAGR
The Physical Fitness Equipment market in the U.S. is estimated at US$4.5 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.2 Billion by the year 2027 trailing a CAGR of 7.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 4.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.
Other Equipment Types Segment to Record 4.2% CAGR
In the global Other Equipment Types segment, USA, Canada, Japan, China and Europe will drive the 3.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$652.7 Million in the year 2020 will reach a projected size of US$852 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.5 Billion by the year 2027, while Latin America will expand at a 5.4% CAGR through the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Impact of Covid-19 and a Looming Global Recession
Impact on Fitness Sector
Demand for Home Fitness Equipment Soars Amidst COVID-19 Pandemic
Fitness Routine Changes of People as A Result of COVID-19
Commercial Fitness Equipment Takes a Hit as Gyms Face Hardships
Physical Fitness Equipment: A Prelude
Types of Equipment
Outlook
Growth Drivers in a Nutshell
Key Growth Impeding Factors
Analysis by Segment
Developing Countries: Focal Point for Current and Future Market Growth
Competition
Recent Market Activity
World Brands
2. FOCUS ON SELECT PLAYERS (Total 97 Featured)
Amer Sports Corporation
Precor Incorporated
BFT Fitness Co., Ltd.
Body-Solid, Inc.
Cybex International, Inc.
Life Fitness, Inc.
Dyaco International Inc.
Heart Rate Inc.
ICON Health & Fitness, Inc.
Johnson Health Tech Co., Ltd.
Nautilus, Inc.
Reebok International Ltd.
SportsArt Fitness, Inc.
Star Trac Health & Fitness, Inc.
Technogym S.p.A.
Total Gym Global Corp.
TRUE Fitness Technology, Inc.
Tunturi New Fitness B.V.
YANRE Fitness Equipment Co., Ltd.
3. MARKET TRENDS & DRIVERS
Covid-19 Pandemic Boosts the Connected Fitness
Advanced Equipment Offer Futuristic Workouts
Technology Disrupts Fitness Regimen
Personalization and Immersive Experience Gain Space as Boutique Fitness Clubs Crop up
Technology to the Aid of Tread Mills
Major Trends in the Health, Wellness and Fitness Industry Summarized
Health and Fitness Clubs: A Major Market for Fitness Equipment
Considerations while Selecting Commercial Physical Fitness Equipment
Recovery in Gyms and Health Clubs to Improve Growth
Bodybuilders Remain the Core Customer Group for Commercial Equipment
Home Fitness Equipment: An Expanding Market
Key Trends Facilitating Transition to Home Workouts
Focus on Preventative Healthcare to Fuel Demand for Home Fitness Equipment
Rise in Adoption of Elliptical Trainers for Home Use
Growing Prominence of Exercise Bikes as an Effective Fitness Solution for Cardiovascular Health Drive Demand
Growing Overweight and Obese Population Benefit Market Prospects
Rising Participation of Women in Sports and Fitness Due to Increasing Spending Power Boosts Sales
Surging Interest in Home Gym Exercising among Women
Big Sporting Events Underpin Sales Growth
Muscle Strengthening Equipment Gain Popularity among Youth
Cardio Equipment Outweigh Weights
Elliptical Trainers: Offering Advantages over Treadmills
Trends Towards Group Exercise Promotes Market Expansion
Technology Integration in Fitness Equipment for the Visually Impaired Augurs Well for the Market
Emerging Technologies, Advanced Software, and Personalized Solutions for Specialized Training Drive Demand from Military Sector
Favorable Demographic and Other Macro Trends Strengthen Market Prospects
Rising Need to Maintain Physical Activity among the Aging Population: A Weighty Growth Driver
Exponential Increase in Urban Population
Increasing Affluence of the Ballooning Middle Class Population
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
UNITED STATES
Market Overview
Established Nature of Physical Fitness Concept to Drive Future Growth
Fitness Fads in the US
Growth Promoters for Fitness Industry
Widening Consumer Base to Fuel Momentum in Home Segment
Rising Incidence of Chronic Diseases Heighten the Need for Physical Activity and Fitness Equipment
Hypertension Prevalence in the US
Prevalence of Diabetes Mellitus in the US
Surge in CVD Incidence in the US
Mounting Healthcare Spending Drives Uptake of Self Care Fitness Equipment
Rise in Adoption of New Technologies, and Equipment
Connected Devices Proliferate the Market
Smartphone Connected Devices Gain Traction
Age Based Participation Levels Favor Fitness Activities
Aging Population: An Important User Category for the Fitness Equipment Market
Rising Population of Obese & Overweight People
Health Club Demographics Remain Lackluster Due to Current Crisis
