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Fitness Equipment Market for Cardiovascular Machines are Excepted to Grow at Fast Pace Over 2018 - 2024

Author : Ronak Bora | Published Date : 2019-04-09 

Cardiovascular machines in the fitness equipment market are anticipated to grow at a fast pace due to an increasing emphasis on weight reduction and body maintenance among the young population. Additionally, innovations in treadmills and exercising bikes including technologies, such as Bluetooth and Wi-Fi, for efficient performance tracking are further increasing their demand. These machines are increasingly being deployed in personalized and hotel gyms owing to the increased consumer spending capabilities on luxury products. The benefits provided by this equipment in the consumers’ weight management program accelerates its demand in the market.

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The fitness equipment market is experiencing a high adoption in offices owing to the increased corporate focus on the health conditions of employees & staff members. The multinational companies, which have large infrastructure & buildings are developing a separate space for establishing health & wellness centers for their employees. The companies are offering such services to increase the employee productivity in the organization.

Moreover, the manufacturers in the fitness equipment market are developing and offering several advanced systems that are specifically developed for corporate sectors. For instance, Isokinetics, Inc. is offering Pedal Exercise, which is best suited for office use. The product helps companies to save their office space by installing small and portable machines in their gyms.

The fitness equipment market, a pivotal sub-sphere of the global fitness sector – has been strongly reinforcing its stance in its parent industry ever since the advent of fitness gyms. Valued at $10 billion in 2017, fitness equipment market has been showcasing an exponential rate of growth primarily on account of the fact that the lifestyle of a modern-day human is increasingly becoming more and more sedentary.

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The prevalence of this lifestyle coupled with the modern-day conveniences, where cheaply-priced fast-food is readily made available at the touch of a button, creates an extremely flourishing environment for cases of obesity as well as chronic diseases. This trend further propagates the inherent need to exercise and pursue fitness, augmenting fitness equipment industry trends.

The APAC fitness equipment market is expected to grow at an impressively rapid rate in the ensuing years, that can be aptly credited to the developments in the regional fitness and healthcare industries. This is specifically true of China and India – two massive markets that are likely to depict an extremely lucrative growth potential. According to a 2018 report by the International Health Racquet and Sports club Association (IHRSA), approximately 22 million individuals attracted in by around 14 markets signed up to a health club in 2017. However, considering the fact that a majority of the world’s population resides in this region, the number exclusively spells out opportunity for health clubs and fitness gym chains to capitalize on the considerably untapped potential of the region.

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Driven by the robust awareness regarding sound health and good fitness levels, the revenue graph of fitness equipment market is expected to demonstrate an exponential rate of growth. According to a report by Global Market Insights, Inc., the growing demand for these equipment in health clubs across the globe is projected to stimulate the fitness equipment market, slated to cross $14 billion by 2024.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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