The global fitness equipment market was valued at USD 3.4 billion in the year 2017 and is projected to grow at a CAGR of 3.6% during the forecast period. Growing obesity index, increasing fitness awareness and social media influence are major drivers of the market.
Bad nutrition and unhealthily lifestyle leads to problems such as spondylitis, arthritis, high blood pressure, increased diabetics, heart problems, obesity and others. To deal with these health issues, a large portion of the population of the world is considering improving their fitness levels driving the growth of the market in the forecast period. For instance, 38.2% population of U.S. above the age 15 were obese in the year 2017. This population along with the population that is already into the practice of using the gym to stay healthy and fit is anticipated to drive the market in the US.
Internet has emerged as the strongest platform to drive any trend or market. Influence of social media has resulted in creating a health-conscious society with more number of internet users becoming increasingly aware of their physique and fitness. Consequently, more and more people are trying to look good and have fitter physique, with gym being a way for people to achieve these goals, fitness equipment are likely to surge in demand.
85电竞Cardio machines have seen a lot of technological advancement such as more infotainment options, compatibility with smart devices, and others are the reason they have surged in demand.
Players like Brunswick Corporation, Core Health & Fitness LLC, Johnson Health Tech Co. Ltd. have collaborated with Apple Inc. The collaboration aims to improve compatibility of Apple devices with the infotainment system which offers users with the various application. Similarly, to improve connectivity, treadmills now come with Wi-Fi connectivity which assists to improve the infotainment options. Integration with Internet of Things (IoT) is anticipated to be an emerging trend for the cardio training machines, is likely to drive the market during the forecast period
Major players associated in this market are Precor, Brunswick Corporation, Core Health and Fitness LLC, Exigo, Johnson Health Tech Co. Ltd., Rogue Fitness, Techno gym S.p.A. and others. Majority of the players are the U.S. based that supply their equipment worldwide through its distribution channel. Owing to the high growth in the market, new regional players such as JERAI Fitness, Guangzhou Kangyi Sporting Goods Co., Ltd. are emerging in the fitness equipment market.
Key segments studied in this report include