Industry Background:
Strength training, often known as resistance training, entails performing physical activities to increase strength and endurance. It is strongly associated with the usage of weights. Strength training equipment has been shown to promote general health and well-being by increasing bone, muscle, tendon, and ligament strength, and toughness, as well as improving joint function and reducing injury risk.This growth is primarily driven by Growing Focus on Health and Wellness Owing Rising Health Problems and Increasing Number of Fitness Center, Health Clubs, And Gym Membership.
Globally, a noticeable market trend is evident Digitalization of Driving Fitness Facilities Like Wearables, Smart App Increase More Focus on Health. Major Manufacturers, such as Icon Health & Fitness, Inc. (United States), Johnson Health Tech Co., Ltd. (United States), Amer Sports Corporation (Finland), Lifepro (United States), Peloton (United States), Precor Incorporated (United States), BFT Fitness Co. Ltd (China), Body-Solid Inc. (United States), Cybex International, Inc. (United States), Star Trac (United States), Nautilus Inc. (United States), Core Health & Fitness, LLC (United States) and Technogym S.p.A. (Italy) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 22 Dec 2020 Peloton announce acquiring fitness equipment maker Precor. This acquisition will help Peloton more manufacturing capability at the same time as tread and bike hardware as Precor has dedicated Research and Development team Facilities. The acquisition is to reduce delivery times for existing equipment customers, but in the long run, this arrangement positions Peloton well for broader commercial market development – whenever the commercial sector recovers.
On 21 March 2021, Lifepro, a leading industry in wellness and recovery equipment announce Powerup and Power Flow Plus, two adjustable dumbbell sets, are part of a new collection aimed at in-home strength training and weight lifting. These new items will be added to the company's extensive line of state-of-the-art massage guns, cardio equipment, vibration plates, and massagers, all of which are designed to give customers low-impact exercises that are both inexpensive and professional-grade.
Regulatory Insights:
As per FDA and ASTM standards labeling requirements, lab testing and certification are important when selling strength training equipment products. Almost all non-measuring exercise equipment is free from premarket notice and FDA clearance procedures, according to the FDA. Importers and producers, on the other hand, must still register their business. For numerous items, including exercise equipment, the American Society for Testing and Materials (ASTM) sets standards and test procedures.
Market Drivers
- Growing Focus on Health and Wellness Owing Rising Health Problems
- Increasing Number of Fitness Center, Health Clubs, And Gym Membership
Market Trend
- Digitalization of Driving Fitness Facilities Like Wearables, Smart App Increase More Focus on Health
Restraints
- Due to High-Cost Strength, Training Equipment is Not So Popular in Low and Middle-Income Countries can Hinder the Strength Training Equipment Market
Opportunities
Due to Shortage of Time and Gym Closer Fitness Enthusiasts Buying Strength Training Equipment for Residential Use to Workout at Home can Boost the Strength Training Equipment Market
Challenges
Weight Lifting that is too Heavy if Not Done Properly Can Cause Muscle Pain and Joint Damage
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Strength Training Equipment Study Sheds Light on
The Strength Training Equipment Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Strength Training Equipment industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Strength Training Equipment industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.