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| Countries covered: United Kingdom AMA Research have recently published the Fifth edition of ‘The Fitness Equipment Market - UK 2005’ report. This 89-page report covers both the private and public sectors for health and fitness service provision. Giving an up to date and comprehensive review of the market, the report should be of interest to manufacturers of fitness equipment, health and fitness clubs, local authorities, leisure management contractors and hotel groups. Areas covered in the report include:- THE MARKET - market size, trends and influencing factors for home and commercial markets. PRODUCT MIX - mix between different types of CV and strength training equipment, product trends and developments. SUPPLIERS - key suppliers and market shares, company profiles. DISTRIBUTION - key distribution channels and shares. The fitness equipment industry has continued to enjoy high growth rates over the past two years, reaching a market value of over £289m MSP in 2004. However, the rate of market growth is expected to slow down considerably in the near future, as the market approaches maturity. Specific points of interest:- Consolidation within the private health & fitness club market. Continuing growth in the corporate health & fitness market. Investment in refurbishment and upgrading of local authority leisure facilities. Increasing competition and price pressures within the supplier market. New market segments. Moving away from importers/distributors, in favour of foreign-owned subsidiaries. New product development and equipment upgrading. Further development of value-added services and increased levels of active promotion of fitness by suppliers. Key areas covered in the report include:- THE MARKET Consolidation within the private health & fitness club market. Continuing growth in the corporate health & fitness market. Investment in refurbishment and upgrading of local authority leisure facilities. Increasing competition and price pressures within the supplier market. New market segments. Moving away from importers/distributors, in favour of foreign-owned subsidiaries. New product development and equipment upgrading. Further development of value-added services and increased levels of active promotion of fitness by suppliers. COMMERCIAL FITNESS EQUIPMENT MARKET Market Size - analysis by value 1998-2004 with forecasts for 2005-2008. Continued strong growth, despite growth rates slowing down. Market Trends & Influencing Factors - slowdown in development of private fitness facilities; development of niche markets; growth in corporate and local authority sectors; new exercise trends; new product development Product Mix - popularity for strength training equipment continues, high growth in demand for low impact equipment, development of value - added service packages. Key Suppliers - Key suppliers and market shares; leading suppliers and brands, market positioning, company profiles with financial information. Distribution - key distribution channels and shares. Dominance of sales through foreign-owned subsidiaries. HOME FITNESS EQUIPMENT MARKET Market Size - analysis by value 1998-2004 with forecasts for 2005-2008, strong growth, especially at the budget end. Growth rates expected to slow down further. Market Trends and Influencing Factors - increased awareness of fitness generated by media and public campaigns, more ‘user friendly’ equipment available, impact of health and fitness clubs, fitness equipment more accessible. Product Mix - share by product group - bikes, treadmills, rowers, multi-gym, weights etc. - growth in demand for cross trainers and strength training equipment. Key Suppliers - leading suppliers and market shares, brands and own brands. Growing presence of commercial suppliers in home fitness market. Company profiles with financial information, market positioning of leading suppliers. Distribution - key distribution channels and shares. Dominance of catalogue companies/mail order. Increasing sales growth through retail sector. KEY MARKET INFLUENCES Population Profile - growth in older age groups, medium-term decline in the 18-35 year old age group / Participation Rates in Sports, Games and Physical Activities - increased participation rates in fitness activities in recent years. Organisations and Campaigns encouraging Sport & Fitness |
Additional Information
The UK fitness equipment market as a whole has experienced significant growth since 1998 with the market increasing by over 95% between 1998-2004. However, during the last 2-3 years market growth has slowed to some extent and is expected to continue to increase by around 4% per annum through until 2008.
In 2004 the overall fitness equipment market was valued at £289m msp, reflecting an increase of around 5% since 2003. Sources indicate that the overall market is forecast to grow to £339m msp by 2008, reflecting a market value increase of around 17%.
In 2004 key factors that have influenced the overall fitness equipment market include:-
General UK Economic performance, personal disposable incomes and consumer confidence.
Increased awareness of health and fitness issues.
The development and refurbishment of new and existing local authority and private health clubs. Ongoing investment in these sectors, albeit at lower levels than experienced in the last 3-4 years.
The market has been stimulated by service support packages being offered by equipment suppliers to health clubs which has continued to add value to the market over recent years.
Fewer numbers of health and fitness clubs being developed, resulting in slowing demand for the commercial sector.
Growing influence of more ‘niche’ target markets, such as the ‘Grey Market’ with subsequent impact on the types of product in demand within the home fitness sector.
In 2004 the commercial sector was estimated to account for around 64% of the total fitness equipment market. In recent years, growth rates have been moderately higher compared to the home fitness market, although this gap is narrowing to some extent in 2005. Key drivers influencing growth within the commercial market include:-
New product innovation and development to maintain a competitive edge and add value to the market.
Upgrading of existing designs to shorten the replacement cycle of fitness equipment.
Continued growth and development of the health club market, with increased investments and new sites being developed by the premium club sector.
Increased awareness of health and fitness issues through promotions in magazines and newspapers, and government campaigns.
In terms of supply, Life Fitness UK are indicated to be the market leader within the overall sector, with an estimated share of around 27%.
Technogym UK, owned by Technogym Italy, is also a significant supplier with an estimated market share of 16% in 2004. Pulse fitness are a UK manufacturer of cardiovascular equipment with an estimated market share of 8%. The Nautilus Group UK, Concept II and Star Trac UK all are estimated to hold a market share figure of around 5% in 2004. Powersport international, Precor Products, Physique and Cybex International are indicated to have a combined market share of 11%.
The UK fitness equipment market continues to be dominated by imports. During the last two years imports have increased from far eastern countries and have declined from the US. The main reason for this change is due to a large number of American based companies setting up factories in the Far East due to cheaper labour and manufacturing costs.
In 2004, an estimated 96% of sales within the commercial fitness equipment market are supplied direct to the customer.
Since the 1990’s the UK home fitness equipment market has grown strongly, although the conditions are more volatile than the commercial market due to it being classified as a ‘luxury goods’ sector, therefore often being a more deferrable than commodity products. Within recent years there has been considerably more activity within the budget sector, with sources indicating that the market remains relatively reliant on volume growth. In 2004 the home fitness equipment market was valued at £102 million, accounting for around 36% of the overall fitness equipment market.
The home fitness market is influenced by a number of key issues, including:-
The performance of the UK economy and disposable income levels.
Increased awareness of health and fitness issues through advertising campaigns and promotional activity in consumer magazines and newspapers.
Overcrowding of health clubs and the increased number of people now working from home has influenced exercising from home instead of joining a gym.
Continued threat of imports dampening growth opportunities in terms of added value products.
Rising levels of influence from the ‘Grey Market’ with sources indicating a greater level of resistance to added value products.
CV equipment continues to dominate the market over strength equipment and in 2004 combined CV equipment is estimated to account for around 77% of the total market. In value terms treadmills and multi gyms represent 36% of the total market. In 2004 bikes represent the largest share of the market with 26%, closely followed by treadmills representing 25%. Free weights represent around 8% of the overall market in 2004 although by volume this share is estimated to be significantly higher. . Free weights dominate the budget end of the home fitness equipment market with these products proving to be extremely successful through catalogue stores and mail order channels such as Argos.
The market leader within the home fitness equipment market is Icon Health and Fitness closely followed by York Barbell, Carl Lewis and Kettler GB. Sources indicate that the four key suppliers control in excess of 60% of the market in 2004. Other suppliers of fitness equipment include Beny Sport, Body Sculpture and Bolton Stirland who are estimated to represent a combined total of 18-22% market share. Other important suppliers in the home fitness sector include, Life Fitness, Delta Products, Precor Products, CSA Fitness, CV Fitness and Pro Action BH Fitness.
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