Global Gym Equipment Market Insights, Trends & Future Development Status Recorded during 2017-2022
As the latest report published by Fact.MR, the global gym equipment market is set to surge at a steady CAGR of 4.9% during the forecast period (2017-2022).
[UKPRwire, Wed Oct 24 2018]
Increasing prevalence of lifestyle diseases and obesity continues to be a major concern. Federal governments in various countries are stepping up their efforts to spread awareness about several health risks from lack of physical activity. In many countries, governments have already introduced programs to encourage individuals to enroll themselves in recreational activities as well as adopt a healthier lifestyle that involves regular exercise. The modern man is more susceptible to mental stress and chronic ailments such as diabetes, heart diseases, and cancer, which, in turn, has triggered the urgency to engage oneself in programs focused on health management. Factors as such are having a cumulative effect on sales of gym equipment across the globe. Moreover, rising trend to enhance physical appearance and to maintain body fitness is also favoring the prospects of the global Gym Equipment Market. More and more people, especially from the urban and working population are joining gyms to maintain body fitness. In addition, increasing health awareness among aged population, predominantly in regions such as North America, Europe and Asia Pacific is leading to a higher a number of health clubs and specialized gyms memberships. As the latest report published by Fact.MR, the global gym equipment market is set to surge at a steady CAGR of 4.9% during the forecast period (2017-2022).
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Gym equipment is any device or apparatus used during physical activity to improve the conditioning effects and the nature of the exercise by providing either an adjustable or a fixed amount of resistance. Gym equipment can otherwise be used to enhance both the experience and outcome of an exercise regimen
Cardiovascular Machines – Top-Selling Gym Equipment
On the basis of product type, preference for cardiovascular machines will continue to grow throughout the forecast period. The cardiovascular machines product type segment currently accounts for around 17% market share in terms of revenue. By the end of 2022, over US$ 1,200 Mn worth of cardiovascular machines are expected to be sold worldwide.
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Among regions, the market in Europe is projected to remain highly attractive in 2017 and beyond. Increased consciousness about risks of obesity coupled with higher expenditure on gym equipment that enhance physical attributes is projected support the growth of the market in the region. During the forecast period, Europe’s gym equipment market is expected to register a CAGR of 4.6%.
Fact.MR in its report has profiled the key players functioning in the global gym equipment market, which include Brunswick Corporation, Johnson Health Tech Co. Ltd., Technogym SpA, Nautilus, Inc, Core Health and Fitness LLC, Torque Fitness LLC, Cosco Capital, Inc., Amer Sports Corporation, Impulse Healthtech Co. Ltd., Icon Health & Fitness, INC.
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