Global Gym Equipment Market Outlook
Market Overview
Gym Equipments are the major part of health and fitness industry, mainly used for improvement of stamina, weight management and to develop muscular strength. Cardiovascular equipments such as treadmills, stationary bikes among others are commonly used equipments in gyms as they are very helpful in burning fat and maintaining overall health and fitness. Strength training equipments are used in gyms to increase muscular strength and to improve individual s personality and appearance.
Rising health concerns and growing fatalities of chronic diseases are the major factors driving the growth of gym equipment market. Government and corporate initiatives to encourage people to adopt healthier lifestyle has also been impelling the growth of gym equipment market. Numerous corporate are providing their employees memberships and discounts in various gyms to promote healthy lifestyle. For instance, more than 70% of the large companies in United States are proving gym services in their offices and offering wellness programs for their employees.
Big players of fitness industry such as fitness equipment manufacturers and gyms are acquiring businesses to sustain market competition and to maintain their strong presence in the market. For instance, Gold s Gym, world’s leading chains of fitness centers, acquired the Rush Fitness Complex in 2015, a regional gym in Carolina boasting 23 clubs. Manufacturers of gym equipments are also adopting merger and acquisitions as their business strategies. In 2016, Brunswick, a leader in the fitness, marine and billiards industry, acquired Cybex, Indoor Cycling Group and SciFit, which are the well-known brands of fitness equipment market.
Get More Information about this Report @ https://www.planetmarketreports.com/reports/global-gym-equipment-market-9311
Market Segmentation
By Product Type
By Distribution Channels
By Geography
Growth Drivers and Challenges
Rising awareness among people towards growing pervasiveness of chronic diseases and the major role played by the unhealthy lifestyle on inducing them is the major factor boosting the growth of global gym equipment market. In the era of digitization, consumers are demanding for more innovative and improved equipments to monitor and enhance their performance. Companies are compelled by the consumer demand and are more focusing on innovations to serve future market. Strength training equipments are expected to become more prominent in nearby future owing to trends of having regular workout regimens becoming more popular among the global population. Government initiatives are also playing an important role in the growth of gym equipment market.
For instance, Australian government promotes campaigns encouraging people for healthy food habits and providing free gym memberships to the general population to combat chronic diseases such as diabetes and heart related diseases. However, high cost of gym equipments expected to hinder the growth global gym equipment market. High cost of gym equipments moved new start-up gyms and fitness centers to buy second-hand equipments and considerable demand to resale products can be seen among smaller fitness establishments for upgrading their equipments and hampering the sales growth of new gym equipments.
Market Size and Forecast 2016-2014
The global gym equipments market is expected to boost at a CAGR of 4.2% over the forecast period i.e. 2016-2024. The global gym equipment market is accounted for USD 8.7 billion in 2015 and anticipated to reach USD 12.1 billion by 2024. The global gym equipment market is expected to grow significantly over the forecast period owing to rising health concerns among consumers.
North America region is expected to dominate the global gym equipment market with more than 35% market share in terms of equipment sales. North America accounts for more than 150,000 health clubs with more than 130 million active members. North America gym equipments market is driving on the back of rising obesity rates and growing spending over gym equipments. North America is closely followed by the Europe with more than 25% market share in global gym equipment market.
Germany and U.K are the major regions contributing to largest revenue share in Europe s gym equipment market. Europe is generating revenue from more than 45,000 fitness centers and nearly 41 million active members. Asia-Pacific region is expected to be the fastest growing market owing to rapid urbanization in developing countries. Chine is the largest market with more than 2,600 operational health clubs with more than 3.5 million members. Australia and New Zealand collectively accounts for more than 3,000 health clubs and more than 2.1 million active memberships.
Key Market Players
Buy now and get a Beneficial 20% off on this report @ https://www.planetmarketreports.com/report-sample/global-gym-equipment-market-9311
Market Synopsis
Market Segmentation
The global gym equipments market is segmented as follows:
Market Dynamics: Growth Drivers, Restraints and Opportunities
Key Market Players
Porter’s Five Force Model
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remarks
To Browse Similar Reports @ https://www.planetmarketreports.com/category/consumer-goods-and-services
About Us:
Planet Market Reports gives statistical surveying reports to businesses, people and associations with a goal of helping them in their decision making process. We have huge database of market research reports & company profiles across globe. We associated with global market research a publisher who has a wide range of research specialists & industry experts which provides you deeper penetration of market research industry.
We have statistical surveying reports from number of top publishers and update our reports collections on daily basis with most recent research data to furnish our customers with the moment online access to our database. With access to this database, our customers will be able to benefit from expert insights on worldwide businesses, items, and market patterns. We help you in your buy choice by mapping your data needs with our immense accumulation of reports.
Contact US:-
Name: Jennifer Daniel
Email-Id: sales@planetmarketreports.com
US: +1-716-2260907
UK: +447441952057
Organization: Planet Market Reports
As the world economy struggles to recover from the pandemic, the vaccination drive spells hope…
UAE based companies and agencies have no option but to penetrate new markets more effectively…
Latest Report on Global Sodium Chloride Injection including Market Landscape, and Market size, Revenues by…
Latest Report on Global Varicose Vein Treatment Devices including Market Landscape, and Market size, Revenues…
Latest Report on Global Colorectal Cancer Therapeutics Market including Market Landscape, and Market size, Revenues by players,…
To celebrate World Poetry Day, International Schools Partnership (ISP) has launched a student Poetry Contest…