Fitness Equipment Market Size 2022 – Global Industry Share, Growth Prospects, Trends Under COVID-19, Future Strategies, Competitive Landscape and Forecast to 2032: SPER Market Research
The fitness equipment market demand has augmented around the globe, owing to an augment in health awareness. Moreover, physical exercise is advised throughout certain medical treatments. The most commonly utilized fitness equipment involves elliptical, treadmills, stationary bicycles weightlifting machines and strength building machines, and many more. The augment in the prevalence of obesity and the increment in health consciousness have majorly helped the growth of the global fitness equipment market. In addition, an increment in the number of gym memberships, an augment in the sale of in-home equipment, an increment in the urban population, and an augment in government initiatives to encourage healthy life to propel the adoption of fitness equipment.
The growth of the fitness equipment market is propelled by foremost aspects such as growing urbanization, the prevalence of obesity and chronic diseases owing to unhealthy lifestyles, and increasing corporate wellness programs and requirements from different industries.
According to the SPER market research, ‘Fitness Equipment Market Size– By Equipment, By Product Type, By End Use, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecasts to 2032’ state that the Fitness Equipment Market is predicted to reach USD 17.53 billion by 2032 with a CAGR of 3.54%.
An augmenting preference for a healthy lifestyle is propelling the fitness equipment market. In addition, augmenting government initiatives in different countries to encourage a healthy lifestyle have played a key role in propelling the market during the last few years. Moreover, the government motivates more individuals to get more active by encouraging participation in physical activities and strengthening links among the community and different sports and fitness organizations. Owing to improved technology and advancement, the market players are introducing new fitness equipment into the market.
A growing sedentary lifestyle is propelling the requirement for fitness equipment around the world. In addition, a growing number of fitness service providers and centers are propelling the growth of the fitness equipment market. Service providers are proposing packages and discounts for weight loss programs to fascinate the maximum number of customers.
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Revenue of the market is predicted to increase with an augment in the client base of these fitness centers. Growth in the prevalence of cardiovascular diseases is also delivering an impetus to the requirement for fitness equipment. An increase in awareness concerning lifestyle-led diseases is compelling individuals to resort to physical workouts, which is predicted to enlarge the fitness equipment market size.
Not only this, the growth of the global home fitness equipment market is being propelled by an augment in expenditure on preventive healthcare, the easiness of using equipment at home, and more awareness about living a healthy lifestyle. The increasing interest in physical exercise, COVID-19 concerned constraints, and greater mental exhaustion as a result of these restrictions are predicted to foster the home fitness segment forward. Also, an increasing number of producers are contributing to the development of apps that enable them to select their trainers for online classes or home visits to match their unique fitness requirements, such as bodybuilding. All these factors are propelling the home fitness industry.
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Fitness Equipment Market Future Outlook
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