Outdoor Gym Equipment Market Scope
Outdoor gym equipment refers to the equipment specially designed for open spaces that may be public or private. These products help people exercise and train in the open for free. They are similar to indoor gym equipment and provide the same benefits. 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. An increasing number of people getting motivated to join fitness centers, which will fuel the use of outdoor gym equipment as governments of many countries have started setting up outdoor gyms for the public. This, in turn, will propel the market growth.
According to AMA, the Global Outdoor Gym Equipment market is expected to see growth rate of 5.99%
The outdoor gym equipment market is highly fragmented with multiple players occupying the market share. Manufacturers are involved in several product launches and acquisition.
PlayCore (United States), Proludic (United Kingdom), The Great Outdoor Gym Company, Wicksteed Leisure (United Kingdom), Xccent Fitness (United States), PlayPower (United States), Kompan, Inc (United States) and Childforms (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Outdoor Gym Equipment market , by Application (Public outdoor establishments and Private outdoor establishments) and Region with country level break-up.
On the basis of geography, the market of Outdoor Gym Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
March 2016, Germany-based connected gym equipment company eGym has raised USD 45 million in a round led by HPE Growth Capital with participation from existing investor Highland Europe.
Market Trend
- Adoption of Strategic Wellness Initiatives by the Governments and Non-profit Organizations
- Rising Number of Health Related Programs
Market Drivers
- Increasing Awareness Related to Benefits of Healthy Lifestyle
- Growing Preference for Workout among Youths and Geriatric Population
- Hectic Work Schedule and rising Health Problems like Diabetes & Obesity
Opportunities
- Government Support to Promote Health Fitness Programs
- Rapid Advancements in Outdoor Equipment Features
Restraints
- High Cost of Outdoor Gym Equipments may hamper the Market Growth
Challenges
- Lack of Expert Training Professionals is posing a Challenge for the Market Growth
Key Target Audience
Outdoor Equipment Manufacturers, Potential Investors, Industry Associations, Government & Regulatory Bodies, Marketing and Consulting firm and Others