Delaware, June 10, 2021 (GLOBE NEWSWIRE) –
According to the latest report “Fitness Equipment Market by Equipment (Cardiovascular, Bodybuilding), End Use (Home, Health Clubs, Office, Hotel), Regional Outlook, Price Trends, Competitive Market Share, and Forecast 2027”, by Global Market Insights Inc., on market valuation of fitness equipment will exceed $ 25 billion by 2027. The market growth can be attributed to the growing awareness of global health and wellness.
The demand for stationary exercise bikes is increasing because they are compact and easy to install in homes. Bikes promote an aerobic effect, calorie burning, weight loss and muscle building. With strict lockdowns imposed in 2020, the demand for exercise bikes that allow high performance workout at home has increased. The increasing adoption of exercise bikes is attributed to the growing awareness of strengthening the heart, lungs and muscles. These bikes will also be in high demand as they help improve the circulation of oxygen and blood throughout the body. Depending on the intensity of the workout and body weight, the user can burn around 600 calories per hour with a stationary bike workout. Exercise bikes will present an increasing demand for users aiming to burn calories.
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The globally expanding hospitality sector will provide growth opportunities for the fitness equipment market as luxury hotels integrate fitness centers into their infrastructure for health conscious visitors. As an increasing number of guests demand a complete wellness experience, hotels are establishing fitness centers on the premises to attract fitness-conscious guests. Manufacturers of fitness equipment identify the demand of the hotel industry and offer solutions tailored to specific hotel requirements.
Rising disposable income in several countries in the Asia-Pacific region has increased the purchasing power of consumers, enabling them to purchase luxury goods. There has been an increased demand for fitness equipment and services in countries such as China, South Korea, and India. Additionally, people have become more health conscious and are investing in fitness equipment such as stationary bikes and treadmills. The increased demand for the equipment has forced manufacturers to expand their manufacturing bases in the region. In addition, APAC has a large number of young people and workers. Their very stressful lifestyle is expected to motivate them to include exercise to remove excess stress or make it a recreational activity. This factor will support the expansion of the fitness equipment market.
Major industry players that significantly contribute to the fitness equipment market include Johnson Health Tech, Icon Health & Fitness, Hoist Fitness Systems, Amer Sports Corporation, Technogym SpA, Torque Fitness, True Fitness, Nautilus Inc., Peloton Interactive, Inc., among others.
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Some of the key findings of the Fitness Equipment Market report are:
- Growing concerns about health issues arising from sedentary lifestyles around the world have highlighted the need to incorporate exercise into the daily routine. Busy work schedules cause an imbalance in work and personal life, contributing to the high demand for fitness equipment.
- With the advancement of the technology sector, the demand for connected devices is increasing globally. Digital connectivity is revolutionizing the fitness industry. Technologies like GPS, Bluetooth and IoT make it easy to connect multiple devices.
- The increase in the number of people with chronic heart disease has resulted in a growing awareness of fitness.
- The COVID-19 pandemic has transformed the fitness industry with increased demand for compact fitness equipment that can be installed in homes. There is a growing demand for virtual fitness classes as they are delivered online and can be taken at the user’s convenience, ensuring increased flexibility. Users can take advantage of training provided by fitness professionals from the comfort of their own homes.
- Developing economic conditions in Latin America, the Middle East and Africa have resulted in an increase in the number of health clubs and fitness centers. This factor will support the progress of the fitness equipment market.
Table of contents (ToC) of the report:
Chapter 3 Fitness Equipment Market Overview
3.1 Industry segmentation
3.2 Impact of the coronavirus pandemic (COVID-19)
3.3 Industry Ecosystem Analysis
3.3.1 Raw material suppliers
3.3.2 Component suppliers
3.3.4 Technology providers
3.3.5 Service providers
3.3.6 System integrators
3.3.7 End users
3.3.8 Analysis of distribution channels
3.3.9 Matrix of suppliers
3.4 Technology and innovation landscape
3.4.1 Wearable and smart technology
3.4.2 Digital connectivity
3.4.3 Bluetooth 4.0
3.4.4 AR / VR
3.5 Regulatory landscape
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.2 Pitfalls and challenges of the industry
3.7 Analysis of growth potential
3.8 Price trend analysis, 2017 – 2027
3.9 Porter’s analysis
3.10 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, USA, is a global provider of market research and consulting services, providing syndicated and personalized research reports as well as advisory services. growing. Our business intelligence and industry research reports provide clients with insightful insights and actionable market data specially designed and presented to aid strategic decision making. These comprehensive reports are designed through proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.