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Growing Number of Fitness Enthusiasts to Drive the Global Fitness Equipment Market Through 2020, Says Technavio
[February 08, 2016]

Growing Number of Fitness Enthusiasts to Drive the Global Fitness Equipment Market Through 2020, Says Technavio


According to the latest market study released by Technavio, the global fitness equipment market is set to post a CAGR of close to 4% by 2020.

This research report titled 'Global Fitness Equipment Market 2016-2020' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

Request sample report: http://goo.gl/Uw4X4z

The report segments the global fitness equipment market into different types of end-users. They are:

  • Individual users
  • Health clubs and gyms
  • Other commercial users

Global individual users fitness equipment market

The report labels the individual users segment as the largest end-user for fitness equipment, accounting for a market share of nearly 42% in 2015. This growth is attributed to the fact that users can use the equipment at their own time and convenience. Affluent consumers are the main consumer segment who might have a whole range of home fitness equipment or a gymnasium within the house itself. The US is one of the fastest growing countries in terms of number of millionaires after China. In 2013, there were almost 16 million new millionaire households in the world and of this total, the US alone comprised 1.25 million new millionaire households.

Vendors such as Zest Fitness, Cybex International, and Dynabody Fitness Equipment provide customized home equipment. Some of the features that can be customized for the customers are the easy to display options, pre-programmed fitness routines, vital signs monitors, video displays, and other comfort and convenience amenities such as water bottle holders, book rests, and countered seats.

"These days, consumers are opting for home fitness equipment and working out according to their convenience by not moving out of the house due to their busy schedule. Treadmills and cyclic machines covr a major share of the home fitness equipment market as they are convenient to use and do not require a trainer, which makes them more cost effective," says Brijesh Kumar Choubey, a lead general retail goods and services analyst at Technavio.



Global health clubs and gyms fitness equipment market

In 2015, health clubs and gyms fitness equipment market segment contributed a market share of close to 39% to the global fitness equipment market. The growing number of consumers who are making efforts to stay fit, stay in shape, maintain strength, lose weight, and remain stress free are some of the factors for the rise in demand for health clubs and gyms. With rising disposable income and rising urge to stay healthy and fit, consumers are willing to pay high fees for health clubs.


According to International Health, Racquet, and Sportsclub Association (IHRSA), Europe had the largest number of health clubs, i.e. 46,340, followed by Latin America with 46,100 and the US and Canada with 36,740 health clubs in 2014. Compared to 2013, the number of health clubs in the world has increased at a rate of 4.5%. Health clubs and gyms are mainly joined by the young and the working population. Some of the popular fitness health clubs and gyms are Gold Gym in India, Equinox, Lifetime Fitness, 24 Hour Fitness, Curves, and The sports club in the Americas. The number of gyms has increased from 45,396 in 2012 to 51,299 in 2014 in Europe.

Global other commercial fitness equipment market

The other commercial fitness equipment market segment includes corporate offices, hospitals, and hotels. Nowadays, most corporate offices are building gyms and exercise areas within the premises of the company. "Corporates are making efforts to provide a balanced life for their employees by creating awareness of the need for wellness and staying healthy, as this would help employees to stay stress free. LG, EMC (News - Alert), and Other Products LLC are some of the companies that provide gymnasiums within company premises," adds Brijesh.

The top vendors highlighted by Technavio's research analysts in this report are:

  • Cybex
  • ICON Health & Fitness Inc.
  • Nautilus Inc.
  • Paramount
  • Precor (News - Alert)
  • Technogym

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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