Growing Virtual Fitness Sector Expected be a Dollar Opportunity for the Gym Equipment Manufacturers – Fact.MR Study

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Gym Equipment market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Gym Equipment

The report offers actionable and valuable market insights of Gym Equipment. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Gym Equipment Market across various industries and regions.

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Newly released Fact.MR data on the gym equipment market projects a steady growth forecast, registering a CAGR of 4.9% across the 2021-2031 assessment period. According to the report, the market is likely to reach US$ 18 Bn in value by the end of the said forecast period.

The gym equipment market registered a largely restricted outlook in the historical period 2016-2020, clocking a 2.5% value CAGR. However, as the COVID-19 pandemic unraveled, individuals began prioritizing personal fitness, leading to a spike in sales since the past year. By 2021, sales are anticipated to touch US$ 11.15 Bn.

Future market demand is heavily reliant on the ever flourishing health & wellness industry across key regions. The World Health Organization, global wellness expenditure is thrice more than overall health spending, amounting to nearly US$ 8 trillion. Also, the Global Wellness Institute estimates that the wellness industry experienced an annual growth worth 6.4% from 2015 to 2017. A substantial portion of this was dedicated towards securing gym memberships and equipment.

This newly published and insightful report sheds light on Market Insights of Gym Equipment, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Gym Equipment Market.

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Key Segments Covered

• Product Type

  • Cardiovascular Machines
  • Strength Training Gym Equipment
  • Plate Loaded Gym Equipment
  • Ground Base Gym Equipment
  • Standalone Gym Equipment
  • Heavy Duty Elite Gym Racks
  • Gym Benches
  • Olympic Gym Bars and Collars
  • Dumbbells & Kettlebells

• Distribution Channel

  • Gym Equipment Sales via Specialty Stores
  • Gym Equipment Sales via Online Retail Stores
  • Gym Equipment Sales via Sport Stores
  • Gym Equipment Sales via Other Distribution Channels

• Buyer Type

  • Individual Gym Equipment
  • Institutional Gym Equipment
  • Promotional Gym Equipment

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Key Takeaways from the Market Study

• Cardiovascular gym equipment to yield US$ 1.2 Bn in revenue by 2031, capturing 17% revenue
• Professional gym equipment to register a CAGR worth 5% across the forecast period
• Sales of institutional gym equipment to expand at a growth rate of 5.1%
• Sports stores & online channels to jointly account for 2/3rd revenue share
• U.S to be the most opportunistic gym equipment market, capturing 40% of total revenue
• U.K and China to collectively account for 3 out of 5 gym equipment sales until 2031
• Global market for gym equipment to surge 1.6x across the assessment period

“The growing virtual fitness sector will increase demand for high-quality workout equipment that is simple to install at home which is further going to drive market growth”, says a Fact.MR Analyst.

Competitive Landscape

Leading companies in the worldwide market include Johnson Health Tech, TRUE Fitness, Technogym, Cybex International, Precor, and Woodway, among others.

• The fitness equipment business is very competitive, with most competitors focusing on providing durable exercise equipment that is integrated with technologies such as AI, IoT, and GPS. The rising popularity of wearable technologies is fueling industry expansion. Connecting a gym machine and a wearable gadget to a Smartphone app can improve the training experience.

• Industry participants are concentrating on releasing new goods in order to expand their product line. To enhance its product range for athletes, one of the main players, Technogym S.p.A., a producer of fitness products, released the product SKILLRUN, which is an athletic training treadmill, in March 2018. To fulfill evolving client needs, major manufacturers are focusing on incorporating cutting-edge technologies into their equipment.

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Key Question answered in the survey of Gym Equipment market report:

• Sales and Demand of Gym Equipment
• Growth of Gym Equipment Market
• Market Analysis of Gym Equipment
• Market Insights of Gym Equipment
• Key Drivers Impacting the Gym Equipment market
• Which are the Key drivers impacted by Gym Equipment market
• Restraints Shaping Market Growth
• Market Survey of Gym Equipment

More Valuable Insights on Gym Equipment Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Gym Equipment, Sales and Demand of Gym Equipment, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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