The global Fitness Equipment Market Growth Accelerated by Popularity of Home Fitness.

 

Fitness Equipment such as treadmills, exercise bikes and free weights help maintain cardiovascular health and muscle strength. With product connectivity features and custom workout programs, they provide a convenient way to maintain fitness in the comfort of one's home.

The global Fitness Equipment Market is estimated to be valued at US$ 20.84 billion in 2023 and is expected to exhibit a CAGR of 1.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The popularity of home fitness has accelerated growth in the Fitness Equipment Market. With disruptions in gym openings and limitations on public workouts during the pandemic, home workouts became a necessity. This prompted many consumers to purchase basic fitness essentials and invest in smart home gym equipment. Online workout classes and social media further supported home exercise routines. As a result, treadmills, stationary bikes and other cardiovascular machines emerged as top selling items in 2020. Even with relaxation of lockdowns, the preference for convenient home workouts has remained. Fitness equipment manufacturers are enhancing digital features in products and integrating them with health tracking apps and online workout platforms to capture this demand for versatile home gym solutions. They are also expanding e-commerce channels to effectively meet consumer needs in this growing online market.

Segment Analysis

The global fitness equipment market is dominated by cardiovascular equipment segment such as elliptical machines, treadmills, stationary cycles segment. Cardiovascular equipment segment holds around 60% share of the overall fitness equipment market as they provide full-body workout and are suitable for all age groups and fitness levels. They allow low impact workouts and helps in burning more calories in less time.

Key Takeaways

The global fitness equipment market is expected to witness high growth driven by increasing health awareness and changing lifestyle. The global Fitness Equipment Market is estimated to be valued at US$ 20.84 billion in 2023 and is expected to exhibit a CAGR of 1.3% over the forecast period 2023 to 2030.

Regional analysis
North America region currently dominates the global fitness equipment market with over 35% share. Increase in obese population and various initiative by governments in the region towards fitness is driving the market. Europe is the second largest market for fitness equipment. However, Asia Pacific region is expected to witness fastest growth during the forecast period owing to growing middle class population and rapid urbanization in countries like India and China.

Key players
Key players operating in the fitness equipment market are Technogym, Peloton Interactive, Nautilus, Precor, Johnson Health Tech, Core Health and Fitness, Cybex International, and Life Fitness. Technogym is currently the leading player with wide range of products and strong geographical presence across major regions. Peloton Interactive has witnessed tremendous growth in connected fitness equipment market especially for indoor cycling machines.

Comments

Post a Comment

Popular posts from this blog

Nonylphenol Ethoxylate Market Size 2023 | Key Growth Drivers and Latest Opportunities

Image
Nonylphenol Ethoxylate  Nonylphenol ethoxylate (NPE) is a group of nonionic surfactants that are commonly used in a variety of industrial and household applications. They are produced by reacting nonylphenol with ethylene oxide, resulting in a range of products with varying degrees of ethoxylation. NPEs have been used in detergents, cleaning products, and personal care products as a surfactant, emulsifier, and wetting agent. They are also used in industrial applications, such as in the production of textiles, paper, and leather. However, NPEs have been found to be persistent in the environment, and are known to be toxic to aquatic life. They are also known to disrupt the endocrine system of animals, including humans, by mimicking the effects of estrogen. For these reasons, the use of NPEs has been restricted or banned in some countries, including the European Union and Canada. Many manufacturers have switched to using alternative surfactants, such as alcohol ethoxylates, which are cons
Read more

Hydrogen Peroxide Market Unveiled: Exploring Global Trends, Growth Drivers, and Future Prospects

Image
  Hydrogen Peroxide Market Overview Hydrogen peroxide (H₂O₂) is a chemical compound with a variety of industrial and consumer applications. It is a pale blue liquid, commonly used as a disinfectant, bleaching agent, and oxidizer. The hydrogen peroxide market is driven by its extensive use across various sectors, including healthcare, paper and pulp, textiles, food processing, electronics, and water treatment. Market Drivers Healthcare Industry:  Hydrogen peroxide is widely used as a disinfectant and antiseptic in the healthcare sector. It is employed for cleaning wounds, sterilizing medical equipment, and as a mouthwash. The ongoing emphasis on healthcare and hygiene has contributed to the  hydrogen peroxide market growth . Paper and Pulp Industry:  Hydrogen peroxide is utilized as a bleaching agent in the paper and pulp industry. It helps to whiten paper products and remove impurities, contributing to the production of high-quality paper. Textile Industry:  In the textile sector, hydr
Read more

Polyferric Sulfate Market Analysis: Growth, Trends, and Opportunities

Image
Polyferric sulfate, also known as PFS, is a chemical compound that finds widespread application in various industries. This inorganic coagulant is primarily utilized for water treatment and purification processes. It is an iron-based coagulant that is highly effective in removing impurities, such as suspended solids, organic matter, and contaminants, from water sources. Polyferric sulfate is known for its superior coagulation and flocculation properties, making it a preferred choice for treating both industrial and municipal water supplies. The market for polyferric sulfate has witnessed significant growth over the years due to increasing concerns about water quality and the need for efficient water treatment solutions. As populations grow, industrial activities expand, and environmental regulations become more stringent, the demand for reliable water treatment chemicals like polyferric sulfate has surged. This has led to a robust market expansion, driven by the critical role that PFS
Read more