BANGALORE, India, May 12, 2020
BANGALORE, India, May 12, 2020 /PRNewswire/ -- The fitness equipment market size was estimated at USD 11.5 Billion in 2019 and is projected to hit USD 15.2 Billion by 2027, posting a 3.5 % CAGR from 2020 to 2027.
Fitness equipment is an exercise machine or tool necessary to control overall weight, enhance physical endurance, and build muscle strength. Treadmills, stationary bicycles, escalators, and weightlifting equipment are widely used fitness equipment. The significant factors driving the global fitness equipment industry are an increase in the number of obese people, rising health issues, and a growing youth population.
The COVID -19 pandemic has spread to nearly 100 countries across the globe since the outbreak in December 2019. The global impacts of the 2019 coronavirus disease (COVID-19) are already starting to be felt, and will affect the Fitness equipment market significantly in 2020. This report covers COVID-19 pandemic impact to fitness equipment market.
TRENDS INFLUENCING THE FITNESS MARKET SIZE:
FITNESS EQUIPMENT MARKET SHARE
The market's leading producers concentrate on exploiting prospects for developing Asia-Pacific markets, such as Thailand and India, on broadening their revenue base. Major players concentrate on increasing their global reach to cater to the consumer's interests. Thus, expansion is one of the most preferred strategies in the fitness equipment market.
FITNESS EQUIPMENT MARKET BY SEGMENTATIONS
Fitness Equipment Market By Type
Fitness Equipment Market By End User
Fitness Equipment Market By Sales Channel
Fitness Equipment Market By Region
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The Connected Gym Equipment Market size is projected to reach USD 1.048 Billion by 2023, at a 31.1 percent CAGR over the forecast period.
Increasing health issues among young people and adults, increased smartphone use increased obesity, and increased numbers of gyms and fitness clubs are driving the connected gym equipment market size. In addition, income growth in developed economies is expected to fuel growth in the globally connected gym equipment market over the forecast period.
The United States Connected Gym Equipment Market size in 2019 amounted to USD 2.09325 Billion and is estimated to hit USD 7.18071 Billion by the end of 2026, at a CAGR of 20.17 percent in 2020-2026.
This report focuses on the status of the United States Connected Gym Equipment Market, future projections, prospects for growth, key markets, and key players. This study also analyses the effect of the COVID-19 (coronavirus) on the United States Connected Gym Equipment Market.
Based on global Gym Equipment Market sales, the study lists the major producers in the regions and their respective market share. It also outlines their strategic developments in recent years, investments in product innovation and leadership changes to remain ahead in the market. The major regions covered in the study are North America, Europe, China, the rest of Asia Pacific, Central & South America, Middle East & Africa, etc. Based on global revenue, the report lists the major players in the regions and their market share, respectively.
COVID-19 impact will give a very good boost to the Home Gym equipment market. The Home Gym Equipment Market study is based on the methodologies of primary and secondary research deriving historical data and forecasts. The global home gym equipment market size is rising incredibly strong and is expected to grow over the forecast period in terms of volume and revenue.
The major regions covered in the study are North America, Europe, China, the rest of Asia Pacific, Central & South America, Middle East & Africa, etc. Based on global revenue, the report lists the major players in the regions and their market share, respectively.
Fitness equipment consists of workout machines and equipment which help to track physical exercises. Such equipment helps control weight, improve endurance, develop muscle strength, and even tackle a few medical problems.
The Americas are expected to be the largest contributor for sales to this market over the forecast period. This area contains a significant number of health-conscious people who can afford home fitness equipment. The growth of the market in this region is driven by the rising incidence of health issues linked to aging.
The global impacts of the coronavirus disease (COVID-19) are already beginning to be felt and will have a huge impact on the 2020 demand for hypoxic training equipment market size.
Hypoxic Training Equipment can simulate altitude conditions, and applications range from specialized training rooms to bed tents that allow athletes to sleep with the physiological conditions found at higher elevations.
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