Fitness Equipment Market Size By Equipment (Cardiovascular [Elliptical Machines, Treadmills, Exercise Bikes, Climbers], Strength Training [Weightlifting, Weights, Barbells & Ladders, Extension Machines, Power Racks]), By End Use (Home, Health Clubs, Office, Hotel), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
The fitness equipment market is anticipated to grow considerably over the forthcoming time period owing to the shifting consumer trends towards maintaining a healthy lifestyle and the subsequent rise in the number of people who work out daily in order to stay fit. Adoption of fitness equipment is an ever-growing phenomenon across the globe and has gained importance among individuals, and academic investigations.
Due to the new trends seen in fitness, which might have been introduced by models, actors, or athletes, who boast of significant social media presence, people are considering fitness as an important option. It is also observed that working out helps with stability as well as mental health of an individual. It tends to increase the focus thereby leading to better functioning of the brain.
Exercise also has the potential of a good therapy for mood swings, depression, or even anxiety, thereby regular exercise could keep the individual healthy with a positive mind. Exercise equipment come in all shape, size, and price ranges. These equipment generally tend to only produce results when used regularly.
Fitness equipment market is segmented in terms of equipment, end-use, and regional landscape.
With respect to equipment, the market is bifurcated into strength training, cardiovascular, and others. The strength training segment is further divided into barbells and ladders, power racks, weight-lifting equipment, extension machines, weights, and others. The weights segment is likely to grow due to rising trend of increasing body strength and maintaining muscular body type.
The power racks segment will also witness growth owing to the changing consumer demand to work out on daily basis to enhance body immunity and strength. Power racks are machines that generally enable people to perform a variety of exercises to build target muscles or to tone the body.
The machine is ideal for handling weights up to 300 pounds. Featuring multiple grips designed for numerous exercises, adding comfort and ease while working out, the power racks are also versatile in nature.
Based on end-use, the market is bifurcated into office, hotels, home, and health clubs. Among these, the hotels end-use segment is likely to foresee growth due to changing consumer trends to maintain healthy lifestyle and workout on daily basis.
It is often observed that cleanliness is the major factor during workout in hotels. With functional fitness at the peak of its popularity, hotels across the globe are following the style owing to the affordable options as well as the ease of storage. Hotels that invest in quality gym equipment also stand out for travelers in a crowded hospitality industry, which helps them bring in more customers as compared to other hotels.
From a regional frame of reference, the Latin America fitness equipment market is estimated to project substantial growth due to outsizing youth population. Middle East & Africa fitness equipment market is anticipated to gain appreciable market share over the forecast timeline due to growing fitness awareness among the consumers.
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