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Global Fitness Equipment Market Expected to Reach USD 15,026 Million by 2027


Global Fitness Equip

iCrowdNewswire   Jan 13, 2021  6:00 AM ET

Global Fitness Equipment Market By Key Players

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Fitness equipment Market by Type, Application, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 11,090.3 Million in 2019 and is expected to grow at a healthy growth rate of 3.8 % by the year 2027. The home users based fitness equipment market size is projected to upturn in upcoming years motivated by growing health concerns and user’s sedentary lifestyles. Home gyms based segments allow users to opt for cost-effective equipment that match individual health demands. Also, home gym offers users with a professional workout experience, protecting their privacy.

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The global Fitness Equipment market is fragmented based on type, application, and region. On the basis of type, the market has been divided into Cardiovascular Equipment, Strength Training Equipment, Others. Based on application, the market has been bifurcated into Home Consumer, Small Gyms, Office, Others. Based on region, the global fitness equipment market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, Asia Pacific is further segmented into, India, China, South Korea, Australia, Japan, and Rest of Asia Pacific. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa (MEA).

In the year 2020, the Fitness Equipment market is expected to observe slow growth due to the COVID-19 pandemic. The fitness equipment market will witness a dip in the first two quarters of 2020 due to ongoing COVID-19. Numerous government bodies globally have enforced lockdowns, seeing the spread of the virus and unfavorable results. This has led to shutdown of fitness centers and gyms owing to need for maintaining social distancing norms to stop the spread of the virus. This has led to a decline in the demand for fitness equipment from offices and health clubs.

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As per GMR industry analyst Akshata Ahire, The Global Fitness Equipment Market is anticipated to witness significant growth during the forecast period 2021-2027 driven by technological developments, rising high level of health consciousness and rapid rise in the number of gyms and health clubs are expected to drive the market growth during the forecast period.

Key Takeaways from the Study:

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Report Scope:

Report Metric

Details

Market Value in 2019

USD 11,090.3 Million

Market Growth Rate (from 2021 to 2027)

3.8%

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 – 2027

Units Considered

Value (USD Million)

Market Segments

By Type, By Application

Regional Scope

North America, Europe, Latin America, Asia Pacific, Middle East & Africa (MEA)

Country Scope

U.S., Canada, Brazil, Mexico, Rest of Latin America, India, China, Japan, South Korea, Australia, Rest of Asia Pacific, U.K., France, Germany, Italy, Spain, Russia, Rest of Europe, Saudi Arabia, South Africa, UAE, and Rest of MEA.

Key Companies Profiled

Cybex International, Precor, Technogym, Fitnessathome, Fitness World, Johnson Health Tech, NordicTrack, ProForm, TRUE Fitness, Vectra Fitness, Woodway, and HOIST Fitness Systems.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

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