Selbyville, Delaware, Nov. 15, 2022 (GLOBE NEWSWIRE) —
Fitness Equipment Market is expected to cross a valuation of USD 25 billion by 2032, according to the recent research study by Global Market Insights Inc.
Growing health concerns due to changing dietary habits and sedentary lifestyles will positively affect the industry landscape. Excessive consumption of processed and packaged foods along with hectic work schedules have contributed to a massive patient pool of diabetic and obese people. According to the American Diabetes Association (ADA), approximately 1.9 people in the U.S. have type 1 diabetes including 244,000 adolescents and children.
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Fitness equipment market from the cardiovascular segment is anticipated to register 5% CAGR from 2023 to 2032. The rising prevalence of heart disorders has increased the need for cardiovascular equipment that can help improve overall cardiac health.
The office fitness equipment industry is projected to attain more than 5% gains through 2032. Corporate organizations are encouraging employees to ensure health and well-being by implementing wellness programs and offering exercise routines in offices. Several corporate giants provide a dedicated workout space to employees. For instance, tech giant Google has fitness centers across all of its offices. These gyms are membership free and offer access to exercising equipment, classes and swimming pools. Google facilities without a fitness center pay for their employee’s gym memberships.
Latin America fitness equipment market is poised to surpass USD 1.5 billion revenues by 2032. The presence of large fitness center chains in the region and the adoption of modern training equipment will showcase a positive industry outlook. Brazil is a major sports hub in LATAM with substantial investments in sports facilities and associated training.
The Brazilian population heavily indulges in a variety of sports activities including volleyball, jiu-jitsu, soccer, polo, futevolei, and Capoeira, showcasing significant emphasis on health and fitness. LATAM countries also showcase a surge in investments in gyms and training centers to promote daily exercise. Moreover, in June 2022, Northgate Capital announced an investment in Sportium, a major operator of fitness and sports centers in Mexico to establish facilities in new locations.
The competitive landscape of the global fitness equipment market is inclusive of companies like Johnson Health Tech, Core Healthcare & Fitness, Hoist Fitness Systems, Icon Health & Fitness, Inc., Kettler Sports & Fitness, Life Fitness (KPS Capital Partners, LLC), Peloton Interactive, Inc., Technogym S.p.A, Torque Fitness, Nautilus Inc, and True Fitness. These players are focusing on the development of novel products featuring innovative systems.
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Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Fitness equipment industry 3600 synopsis, 2018 – 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023 – 2032
2.3 Regional trends
2.4 Equipment trends
2.5 End-use trends
Chapter 3 Fitness Equipment Industry Insights
3.2 Impact of COVID-19 outbreak
3.3 Impact of Russia – Ukraine war on industry
3.4 Industry ecosystem analysis
3.5 Technology & innovation landscape
3.6 Patent analysis
3.7 Investment portfolio
3.9 Regulatory landscape
3.10 Industry impact forces
3.10.1 Growth drivers
220.127.116.11 Growing health and fitness consciousness in North America
18.104.22.168 Increasing corporate wellness programs and cross industry demand in North America
22.214.171.124 Government healthcare initiatives and increasing geriatric population in Europe
126.96.36.199 Increase in chronic diseases in Asia Pacific
188.8.131.52 Rise in disposable income in Asia Pacific
184.108.40.206 Rising development of health clubs in Latin America
220.127.116.11 Rising urbanization in MEA
3.10.2 Industry pitfalls & challenges
18.104.22.168 High cost of the equipment
22.214.171.124 Growth of used fitness equipment market
3.11 Growth potential analysis
3.12 Price trend analysis
3.13 Porter’s analysis
3.14 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.