Fitness Equipment Market: Overview
With advancements in technology, today’s society is becoming more dependent on technology for their day to day activities. As every development or innovation has its pros and cons, it can be said that technological advancement has restricted the regular physical activities. Technology has directly or indirectly affected the human health in the recent past. This has created a greater need in society to increase the physical activities, to balance the body weight and cardiovascular fitness.
Keeping oneself physically fit can be considered as one of the best precautions to eradicate or avoid the risks of certain diseases. Fitness training centers have observed a spontaneous growth, due to the number of health issues encountered in today’s world. The increase in the number of fitness centers across the globe has created a rise in demand for fitness equipment and this demand is expected to grow in the coming years. Treadmills, stationary bicycles, weightlifting machines are some of the most common fitness equipment preferred by consumers for cardiovascular fitness and muscle building.
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Fitness Equipment Market: Drivers and Restraints
The recent growth observed in fitness equipment market can be attributed to the increase in health awareness among the young and old age groups. Doctors and governments of different countries are continuously striving to promote the benefits of physical fitness, thus creating health awareness in the society. In recent past, there has been rising health issues of diabetes, heart-related ailments and cholesterol. Further, obesity in developed countries is a major concern, thus making them susceptible to different diseases. These factors are driving the market for cardiovascular fitness equipment in developed regions such as North America and Europe.
Scientific research on human body structure has catalyzed innovation and development of fitness equipment, thus improving the fitness activities and delivering better results. Intense competition is a major factor to increase the stress among the individuals in today’s world. To remove the excess stress, youths are inclined to different fitness clubs for fitness activities. Moreover, improved lifestyles with economic growth, have increased the spending on fitness activities, thus adding to the demand for fitness equipment. Corporates are collaborating with different fitness training centers to provide fitness facilities to their employees.
The growing population in the developing countries is another reason for the fast growth of fitness equipment market. The age demographics of developing countries such as India, China, where majority of population is comprised of youths, creates good opportunities for fitness equipment market. Types of training equipment include cardiovascular training equipment, strength training equipment and others. Further, the market is categorized on the basis of users, which include home/individual usage, gyms and fitness clubs and commercial usage (hotels/corporate offices).
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Fitness Equipment Market: Competitive Landscape
The market for fitness equipment is highly competitive with the presence of several local and multinational manufacturers across regions. The key companies operating in fitness equipment market include Star Trac Health and Fitness Inc., Body-Solid Inc., Yowza fitness, Precor Incorporated, Paramount Fitness Corp., NordikTrack Inc., Cybex International Inc., Body by Jake Global LLC, Nautilus Inc., ICON Health & Fitness Inc., Fitness EM, Johnson HealthTech, Motus, Impulse Health, Technogym, Elliptigo Inc., Torque Fitness LLC and Burnswick Corp.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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