Global Gym Equipment Market Overview:
Gym equipment is used for developing muscular strength result in improved metabolisms, improving physical stamina and managing weight. There has been a significant rise in the number of people joining fitness centers with a figure stood up to 62 million in the United States alone in 2018, the future for gym equipment looks promising. Cardiovascular gym equipment is dominating the market owing to the increasing prevalence of diseases such as diabetes, osteoarthritis, cardiovascular disease as it helps in reducing excess body fat and regulate heart rate. According to AMA, the Global Gym Equipment market is expected to see growth rate of 3.95%
Market Drivers
- Increasing Number of Fitness Club and Gym
- Rising Number of Obese Population
- Growing Sports Culture and Fashion Industry
Market Trend
- Inclination towards Cardiovascular Equipment
- Growing Online Distribution Channel
Restraints
- High-Cost Associated with Fitness Instruments
Opportunities
- Growing Acceptance in Millennials
- Growing Awareness Regarding Weight Management
Challenges
- Rising Adoption of Yoga and Other Fitness Exercises
Competitive Landscape:
Gym equipment market is fragmented owing to number of players present in the market. Rising awareness about health and fitness supplementing the growth of gym equipment market. Further, growing number of health and fitness centers globally propelling the gym equipment market.
Some of the key players profiled in the report are Planet Fitness Inc. (United States), Life Fitness, Inc. (United States), Body-Solid Inc. (United States), Yowza fitness (United States), Technogym SPA (Italy), Precor Incorporated (United States), Paramount Fitness Corp. (United States), NordicTrack Inc. (United States), Cybex International Inc. (United States), Body by Jake Global LLC (United States), Nautilus Inc. (United States), ICON Health & Fitness Inc. (United States), Fitness International LLC (United States), Johnson Health Tech (United States), Elliptigo Inc. (United States), Torque Fitness LLC (United States) and Burnswick Corp. (United States). Additionally, following companies can also be profiled that are part of our coverage like Cybex International Inc. (United States), Burnswick Corp. (United States), Elliptigo Inc. (United States) and Technogym SPA (Italy). Analyst at AdvanceMarketAnalytics see United States Vendors to retain maximum share of Global Gym Equipment market by 2024. Considering Market by Strength Equipment, the sub-segment i.e. Weight Lifting Machines will boost the Gym Equipment market. Considering Market by End Users , the sub-segment i.e. Home Consumer will boost the Gym Equipment market. Considering Market by Cardiovascular Equipment, the sub-segment i.e. Treadmill will boost the Gym Equipment market.
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Gym Equipment market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Gym Equipment market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Fitness Club, Hotels, Hospitals, Corporate office, Downstream Vendors, Government organizations, Research Organizations, Market Research and Consulting Companies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.