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Global Cardio Fitness Equipment Market Expected to Expand at a CAGR of 7.7% between 2019 and 2027: Industry Probe

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Industry Probe
Global Cardio Fitness Equipment Market Expected to Expand at a CAGR of 7.7% between 2019 and 2027: Industry Probe

According to a new market report published by Industry Probe (www.industryprobe.com) titled Fitness Equipment Market (Product Type: Cardio Equipment (Cross-country Ski Machine, Elliptical Trainers, Stationary Bicycle, Treadmill, Rowing Machines, and Others), Strength Equipment (Squat Rack, Bench Press, Hammer Strength Machine, Leg Pull-down Machine, Leg Extension Machine,  Hyper Extension Bench, Smith Machine, Abdominal Bench, Leg Press Machine, Peck Deck Machine, and Others), and Others (Activity Monitors, Body Analyzers, etc.); End-use: Individual,  Gyms/Health Clubs, and Commercial (Hotels, Corporate Offices, Public Institutions, and Others); Distribution Channel: Online and Offline (Hypermarkets/ Supermarkets, Specialty Stores, Brand Stores)) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’, the global fitness equipment market was valued at US$  2,960.2 Mn in 2017 and is expected to expand at a CAGR of 6.7% from 2019 to 2027. 

Overview

  • The global Cardio fitness equipment market was valued at US$ 2,960.2 Mn in 2017 and is expected to expand at a CAGR of 6.7% from 2019 to 2027.
  • Cardio fitness equipment stimulates the heart rate, builds endurance, and help in burning excess body fat. The exercise also reduces stress levels and strengthens the metabolism.
  • As compared to strength equipment, cardio equipment are less costly, lightweight, and require less maintenance. This has led to relatively higher penetration of strength equipment over cardiovascular equipment across the world.

Browse the full report at https://www.industryprobe.com/industry-analysis/Fitness-Equipment-Market

Driving Factors

  • Increasing incidence of cardiovascular diseases, diabetes, and osteoarthritis is a major concern all over the world. Exercise is set to become a key antidote to counter a variety of diseases such as diabetes, depression, heart conditions, etc. All this is expected to increase the demand for cardio fitness equipment across the world.
  • An increasing number of individuals are actively engaging in physical activities such as signing up for workout programs and packages, or just exercising independently. This is expected to drive the growth of the cardio equipment fitness equipment market in Europe as well as in other regions.
  • Increase in the number of health clubs all over the world is pointing to a new trend of looking great while maintaining health. In addition, the rising youth population in the world and specifically in the Asia pacific region is expected to accelerate the fitness equipment market during the forecast period.
  • Rising awareness amongst the people regarding health and fitness, and governments across the world promoting good health measures to reduce the risk of chronic diseases are factors boosting the global fitness equipment market.

Key Challenges

  • However, the high cost of commercial fitness equipment and their high maintenance cost is hampering the market growth. Moreover, people also prefer swimming, aerobics, and yoga which are hampering the growth of the fitness equipment market.

Market Preference

  • In terms of product type, cardio equipment are mostly preferred by gym & health clubs as well as individual users due to fast results. As compared to strength fitness equipment, cardio fitness equipment is expected to hold major share and maintain its market during the forecast period.
  • Under cardio fitness equipment, treadmill fitness equipment held major market share followed by stationery bicycles in 2017. A treadmill is convenient, and a user friendly option though heavy. It can be used at homes and at gyms. Weight loss results are good after usage of treadmill.
  • North America, especially the US, has an established fitness culture and numerous companies offer fitness equipment and gyms in the market. To incorporate the fitness culture further, especially among senior citizens, fitness and wellness centers are being established in the U.S to cater to the needs of the population and to promote a healthy and disease free life.

Competitive Landscape

  • The fitness equipment market includes several players who are focused on the development of new products to cater to the rising and shifting consumer preferences.
  • The report includes the below mentioned pointers of major players operating in the fitness equipment market:
    • Competition Matrix
    • Company Overview
    • Market Share Analysis (2018)
    • Product Innovation
    • Business Strategies / Recent Developments
      • Technological advancements
      • Key mergers and acquisitions
      • Expansion strategies.
    • Company Financial

About Us

Industry Probe is a global market intelligence and advisory firm with an unwavering purpose to help businesses achieve strategic objectives through a varied range of offerings. Based on a unique amalgamation of our in-house tools and human intelligence, our services are dedicated to serve the businesses operating in the consumer goods and industrial machinery sectors.

A sister firm of TMR, Industry Probe’s offerings comprises syndicated research, strategic consulting & advisory services, competitive intelligence, and full-time engagement to bring true & actionable insights into our clients’ business environment. Combining research & technology adoption, playing the perfect mix of the accurate data, and centered on consumer goods & industrial machinery sectors, Industry Probe believes in focusing on one industry at a time. 

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