The global fitness equipment market is slated to expand significantly through 2032 owing to the mounting penetration of IoT on an international scale.
The established companies in the industry are emphasizing the delivery of cutting-edge exercise equipment through partnerships and acquisitions. Several businesses are working on wearables like connected equipment and fitness trackers that can inform gym staff when something happens. These can be added to cell phones and depend on the internet to perform properly. For instance, in April 2022, Core Health and Fitness purchased Wexer Holding LLC. Wexer will get money to expand its business to grow digital adoption in the global health club sector and consolidate the digital fitness category.
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The fitness equipment market has been bifurcated in terms of equipment, end-use, and region.
Based on equipment, the elliptical machines segment is anticipated to grow considerably over the review timeline due to the increased understanding of the benefits of heart and muscle strengthening. Meanwhile, the exercise bikes segment is speculated to expand significantly credited to their small size and simplicity of installation in homes, stationary exercise bikes are becoming more and more popular. The bikes support weight loss, muscle building, calorie burning, and an aerobic effect.
With respect to end-use, the hotel segment garnered more than 5% of the market share in 2022 and is poised to propel steadily from 2023 to 2032 attributed to the global expansion of the hospitality industry which will in turn present growth prospects for the fitness equipment market as upscale lodgings build up workout facilities for health-conscious guests. Additionally, due to for the spike in on-demand fitness among frequent travelers leading an active lifestyle, hotel owners are increasingly integrating on-site gyms into their infrastructure.
From the regional perspective, the North America fitness equipment industry recorded approximately $5 billion valuation in 2022 and is expected to grow strongly through the forthcoming period ascribed to the favorable economic conditions in the United States and Canada encouraging the adoption of advanced technologies. The region's high disposable income, combined with the region's high priority for fitness, will have an impact on the fitness equipment market. With the presence of large technology firms, the region is expected to see an increase in demand for digitally connected workout experiences.
Meanwhile, the Middle East & Africa fitness equipment market is speculated to amass substantial expansion by the end of forecast duration owing to the rising popularity of strength fitness equipment among the younger generation to promote health and well-being will drive the MEA market forward.
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Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Scope and definitions
1.2 Methodology & forecast parameters
1.3 COVID-19 impct
1.3.1 North America
1.3.2 Europe
1.3.3 Asia Pacific
1.3.4 Latin America
1.3.5 MEA
1.4 Data Sources
1.4.1 Secondary
1.4.2 Primary
1.5 Glossary
Chapter 2 Executive Summary
2.1 Fitness equipment industry 3600 synopsis, 2018 – 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023 - 2032
2.3 Regional trends
2.4 Equipment trends
2.5 End-use trends
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The global Fitness Equipment Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Fitness Equipment Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/fitness-equipment-market/download-sampleMarket DynamicsThe fitness equipment market has bright prospects, although it is facing a temporary downfall at the moment.
Over the past several years, the need to lead a healthy lifestyle has resulted in an increasing number of gyms across the globe coupled with growing demand for fitness equipment.
A surge in the number of gym subscriptions to remain in perfect shape has increased the demand for fitness equipment, creating a positive impact on its market.
Furthermore, factors like government initiatives to promote health awareness and online availability of fitness equipment will fuel market growth.
