June 08, 2020
According to the research report titled ‘Fitness Equipment Market Size By Equipment, By End Use, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global fitness equipment market is expected to record momentous growth over 2020-2026.
Growing inclination towards maintaining healthy lifestyle and rising number of exercising activities are major factors driving the fitness equipment market growth. Working out or exercising helps in maintaining stability as well as mental fitness of an individual. Moreover, it aids in improving the focus which further improves the functioning of the brain. Apart from keeping the individual healthy, exercising provides with good therapy for anxiety, depression and mood swings. Growing influence of celebrities through social media and blooming trend of maintaining fitness routine are augmenting the fitness equipment market outlook.
As per equipment type, weights segment for strength training is predicted to expand significantly during the forecast period, primarily due to rising preference towards acquiring muscular body type and maintaining body strength.
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On the other hand, power racks segment is also anticipated to record robust growth in the ensuing years. Growing inclination towards working out regularly in order to boost body strength and immunity is favoring the market outlook. These equipment can handle weights up to 300 pounds and enable individuals to perform variety of exercises for building target muscles. They are versatile and offer ease and comfort while working out.
In terms of end-use spectrum, fitness equipment market share from hotels is likely to register substantial growth over the forecast period. Ease of storage, affordability and trend of exercising daily have bolstered the adoption of fitness equipment in hotels. Besides, investing in gym equipment allows hotels to attract potential customers, which in turn is fueling the segmental growth.
Considering the geographical landscape, Latin America fitness equipment industry is slated to witness significant growth during the analysis timeframe, primarily due to growing youth population. Meanwhile, Middle East & Africa market is anticipated to showcase healthy growth through 2026, owing to increasing awareness pertaining to health & fitness among consumers.
True Fitness, Torque Fitness, Technogym S.p.A., Nautilus Inc., Johnson Health Tech, Icon Health & Fitness, HOIST Fitness Systems, Fitness EM LLC, Core Health & Fitness LLC, Brunswick Corp. and Amer Sports Corp. are the major contenders in worldwide fitness equipment market.