Fitness equipment is a kind of machine or equipment that is used for physical exercises. It is a part of the broader sporting equipment market.
The fitness equipment market industry includes different equipment specifically designed and used for physical exercises such as treadmills, weight machines, free weights, stationary cycling, stair-lifters and elliptical trainers.
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The market size of fitness equipment
The global fitness equipment market will experience moderate growth in the coming years, reaching approximately US$ 11 billion by the end of 2026 from US$ 6 billion in 2019.
Analysis of the fitness equipment market
The most significant factors expected to support market growth is the rising obesity and cardiovascular conditions due to dysfunctional diets and unhealthy lifestyles.
This form of lifestyle results primarily in the increasing incidence of obesity and cardiovascular health conditions. Thus, many people are looking for ways to increase their physical activity levels to battle obesity and to reduce cardiovascular health problems. Hence the most popular choice for weight loss is cardiovascular equipment.
Furthermore, the rapid industrialisation and population growth in emerging economies, as well as longer working hours and poor eating habits and increased stress, have led to a rise in gym memberships. As a result, fitness equipment will be in high demand.
Apart from this, the advanced wearable technology and the inclusion of smart devices in fitness equipment and gyms such as activity tracker or pedometers will further boost demand for fitness equipment.
However, various factors such as the high cost of manufacturing and maintaining fitness equipment could be challenging and keep the market from achieving its full potential. Additionally, a rise in consumer demand for used fitness equipment could also hamper market growth and reduce the demand for new products.