Global Gym Equipment Market to Register a CAGR of 4.9% Between 2021 and 2031
Global gym equipment market is set to exhibit an above average CAGR between 2017 and 2022, as per the latest study conducted by Fact.MR. The study also reveals that the global market for gym equipment will surpass a valuation of US$ 7,600 Mn by 2022-end.
Individuals are progressively enrolling themselves in fitness clubs and gyms in order to stay fit and healthy. A sedentary lifestyle that is followed by a majority of modern consumers is frequently linked with the cause of obesity, mental stress and various choric diseases. This, in turn, has triggered the urgency to adopt a healthier lifestyle. In addition, government authorities in various countries are initiating programs to encourage people to get enrolled in recreational activities that involve intensive physical exercise. The aforementioned factors are expected to reflect favorably on the global gym equipment market during the forecast period. Moreover, the arrival of smart wearable technologies and smartphone application that can monitor user’s health, assist in training and analyze performance has been instrumental in popularizing various gym apparatus and innovative exercise equipment.
For detailed insights on enhancing your product footprint, request for a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=220&utm_source=factmrblog&utm_medium=Prasad
In recent years, the number of fitness clubs and gyms has increased significantly. Manufacturers are focusing on development of application-specific equipment compatible with personal devices, which is also expected to support the expansion of the global market for gym equipment.
Global Market for Gym Equipment – Key Projections
- In terms of revenue, Europe is anticipated to dominate the global gym equipment market over the next few years. Between 2017 and 2022, the market in Europe gym is expected to remain highly attractive and register to a sound CAGR.
- North America and Asia-Pacific excluding Japan (APEJ) are expected to emerge as the two other lucrative markets for gym equipment during the assessment period.
- Based on product type, the cardiovascular machines segment is projected to retain its leading position over 2022. The segment currently commands for nearly 17% revenues share of the global market. Meanwhile, ground base equipment are expected to remain the second largest product type segment during the forecast period.
- Sport stores and online retail stores are the two largest distributional channels for gym equipment. Both the distributional channel segments collectively account for close to two-third market share in terms of revenue. However, sport store distribution channel segment is project to witness a higher CAGR over 2022.
For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=220&utm_source=factmrblog&utm_medium=Prasad
- By buyer type, the institution segment is projected to hold its dominant position through 2022. The segment currently commands for over one-third revenue share of the market and anticipated to reflect a healthy CAGR of 5.1% over the forecast period.
For in-depth competitive analysis, buy now – https://www.factmr.com/checkout/220?utm_source=factmrblog&utm_medium=Prasad
Technogym SpA, Brunswick Corporation, Nautilus, Inc, Johnson Health Tech Co. Ltd., Torque Fitness LLC, Amer Sports Corporation, Icon Health & Fitness, INC, Core Health and Fitness LLC, Cosco Capital, Inc., and Impulse Healthtech Co. Ltd. are among the top companies operating in the global market for gym equipment.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/01/28/1706082/0/en/eSports-Market-to-Surpass-US-6000-Million-by-2028-on-Back-of-Growing-Popularity-Among-Enthusiasts-Fact-MR.html
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
US Sales Office:
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-1583
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Visit Our Website: https://www.factmr.com