Growing Desire to Stay Fit Drives Growth in the Global Physical Fitness Equipment Market, According to New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Physical Fitness Equipment markets. The global market for Physical Fitness Equipment is projected to reach US$14.8 billion by 2018, driven by rising awareness about fitness and healthy living, increasing number of health clubs, and the advent of innovative products combining electronics and fitness. Increasing consumer affluence coupled with the rising health awareness in developing countries such as Asia-Pacific, Latin America, and the Middle East also offer potential opportunities for growth.
San Jose, California (PRWEB) November 01, 2012
Follow us on LinkedIn – Exercising has emerged as one of the most noticeable trends in the millennium, with people across countries, age, and gender becoming concerned and aware about the health benefits accrued through healthy living. The availability of a wide range of fitness equipment ideal for all types of users is allowing individuals to take up exercising despite their hectic lifestyles. In addition, rising memberships of clubs/spas, advent of user friendly equipment, and the development of innovative equipment in support of new fitness modalities are driving growth in the global physical fitness equipment market. Growth is also driven by the continued focus on staying fit among the developed regions, and the growing focus on fitness and healthy lifestyles among the more affluent consumers in Asia-Pacific, Middle East and Latin America.
Despite growing concerns about health, the fitness equipment industry witnessed decline in 2008 and 2009 due to the global economic meltdown, slowdown in the uptake of new housing ventures, and general customer unwillingness to shell out money for discretionary expenses such as exercising. However, online sales of fitness equipment continued to gain popularity in view of the absence of sales tax as well as shipping charges, which translated into huge cost savings for customers. The fitness industry shipments stabilized by the end of 2009 and early 2010, driven by the recovering sales in the consumer segment. However, institutional sales continued to be affected by uncertain conditions, with sales of commercial equipment suffering due to stagnation in the health clubs, hospitality, and corporate wellness markets. On the flipside, recession proved beneficial for some health and fitness clubs, as those laid off by the recession sought reprieve in diversionary activities such as workouts to get relief from the stressful conditions. Nonetheless, walking past the financial depression, improving fitness and health awareness in individuals is reviving demand, leading to moderate growth in sales of fitness equipment.
As stated by the new market research report on Physical Fitness Equipment, the United States represents the single largest market worldwide. Surging wave of fitness and wellness among Americans is driving sales of physical fitness equipment. Sales of fitness equipment are likely to remain steady given the rising incidence of obesity among Americans. Manufacturers are focusing on targeting sedentary adult population with demographic-specific equipment designs and promotional images. Asia-Pacific is expected to emerge as the fastest growing regional market buoyed by increasing awareness of health and fitness coupled with steady economic growth, rising disposable incomes, and increase in number of fitness clubs.
Treadmills represent the most widely used exercise equipment, globally. Treadmills are preferred by serious joggers and runners who wish to replicate the experience of outdoor workouts in the interiors. Rapid rise in the number of joggers is driving fitness equipment makers to offer treadmills as a convenient indoor alternative to outdoor walking and jogging activities. Asia-Pacific represents the fastest growing regional market for treadmills. Elliptical Trainers represent the fastest growing product segment in the global physical fitness equipment market. Elliptical trainers have been found to offer greater degree of freedom to the users, as the trainers offer no impact on the ground, whereby lower body joints are saved from high strain that is most commonly associated with walking and running on the treadmill. Latin America represents the fastest growing regional market for elliptical trainers with a CAGR of 5.9% over the analysis period.
Physical fitness equipment market is highly competitive and involves the participation of numerous companies that are engaged in manufacturing, distributing and selling various types of exercise equipment. Major players profiled in the report include Body Solid Inc., Cybex International Inc., Heinz Kettler GmbH & Co. KG, ICON Health & Fitness Inc., Johnson Health Tech Co. Ltd., Life Fitness Inc., Magnum Fitness Systems, Nautilus Inc., Paramount Fitness Corp., PowerSport International Limited, Precor Inc., Reebok International Ltd., Star Trac Health & Fitness Inc., Technogym S.p.A., and Tunturi Oy Ltd.
The research report titled "Physical Fitness Equipment: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections across geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia Pacific, Middle East, and Latin America. Product segments analyzed include Treadmills, Resistance Equipment (Free Weights, Home Gyms/Multi-Stations), Elliptical Trainers, Aerobic Riders, Cross Country Ski Machines, Stationary Exercise Bicycles, Exercise Bikes (Upright Stationary, Group Exercise, Recumbent Stationary), Benches, Ab Crunchers/Abdominal Machines, Step Machines/Stair Climbers, Stretching Machines, Rowing Machines, Toning Machines, Massagers, and Others.
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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