The fitness equipment market was about USD 10 billion in 2014. It would grow at a CAGR of 3.6% from 2015 to 2022 (forecast period). This will be attributed to urban populace and health awareness. Sedentary lifestyles and stress lead to high obesity rates. Obesity is linked to several health problems like cardiovascular diseases, diabetes, hypertension, etc. Exercise plays an important role in lowering weight. It also improves stamina, muscular strength, and overall well being. This fuels market demand.
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To improve public health, bodies like the U.N. (United Nations) and W.H.O. (World Health Organization) upgrade their policies. Moreover, governments in developed nations come up with health exercise regimes. Awareness regarding fitness is also growing in developing economies. Additionally, corporate health programs to better the well being of employees are rising. All these factors steer the fitness equipment market.
The market may be categorized into devices, end-users, and regions. Devices are segmented into cardiovascular training, strength training, and others. Cardiovascular training held more than half of the total shares in 2014. It could grow at a CAGR of 3.6% during the forecast period. Cardiovascular training includes treadmills, rowing machines, stationary bicycles, etc. Strength training devices will grow owing to their adoption in developing countries.
End-user segments are health clubs, home, and others. Health clubs occupied the largest shares (over 44%) in 2014. Apart from fitness equipment, most health clubs offer dietician services, spas, swimming pools, etc. However, they may lose shares, with home fitness amenities becoming popular.
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Regions of the fitness equipment market comprise North America, Asia Pacific, Europe, and RoW (Rest of the World). North America was the dominant region in 2014 owing to its obese population and health initiatives. Asia Pacific can witness the fastest growth (CAGR of 7%) over the next seven years. Its younger demographics coupled with higher disposable incomes in India and China is anticipated to drive regional demand.
Prominent participants in the global market are Brunswick Corporation, Nautilus Inc., and Cybex International Inc. Other established vendors include Johnson Health Tech, Paramount Fitness, Torque Fitness, and Technogym USA Corporation. The fitness equipment market is highly competitive. Innovative technologies & products are keys to its success. Players grow through mergers, acquisitions, and alliances. Backward integration is also practiced to ensure profitability and quality raw material delivery.
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