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Fitness Equipment Market in Home Segment is Projected to witness developments in the Coming Years

Author : Ronak Bora | Published Date : 2019-03-13 

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. 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.

The rising adoption of smartphones & connected devices that manage the customers’ exercising patterns and daily performance drives the industry growth. Moreover, the advancements of health clubs that deploy smart performance tracking machinery and huge discount packages attract more customer subscriptions resulting in the industry development. Several governmental policies in countries including the U.S., India, and others to support the expansion of healthcare facilities and fitness infrastructures that include loans with low interest rates are creating fitness equipment market growth opportunities.

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Home fitness equipment market is predicted to witness developments over the forecast timespan due to the increasing deployment of these machines in residential settings. A transition in the living standard of consumers and increased spending on maintaining a healthy lifestyle support the inclination toward using fitness machinery. Furthermore, public and societal gyms in modern housing societies and government infrastructures accelerate the product demand.

Additionally, the trend of hiring personal fitness trainers who offer customized training services create opportunities for home segment expansion. Commonly used machines in the residential settings are treadmills, elliptical machines, kettlebells, and weights that aid easy exercising and provide high outputs to consumers.

Strength training machines in the fitness equipment market are gaining popularity among youngsters and fitness experts. This growth is attributed to reasonable machinery costs and the high-quality of the products offered by manufacturers. The major factors adding up to the demand for these products are technical innovations and the incorporation of smart technologies in the conventional machines.

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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.

The rapid rate of industrialization along with the change in lifestyle brought on by hectic, fast-paced jobs has led to the regional populace experiencing a surge of poor health, which has led to a rise in the awareness for fitness. Driven by the expanding affordability in the region and the rise in the number of health clubs, APAC fitness equipment market is anticipated to accomplish quite some gains in the years ahead.

The U.S. fitness equipment market is also expected to grow considerably over 2018-2024. In fact, according to a 2017 estimate, the U.S dominated the overall industry with an astounding market share of about 35%. As per a report by the United States Department of Labor, between 2008 and 2015 weight lifting and use of cardiovascular equipment – two verticals that extensively utilize fitness equipment – were among the top two activities that individuals within the age bracket of 15 years and above participated in as a part of their fitness and sports related activities.

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The key players in the market include HOIST Fitness Systems, Johnson Health Tech, Amer Sports, Fitness EM, Brunswick Corporation, True Fitness, and Technogym S.p.A. These companies adopt new product development & innovation strategies that include connected and IoT-based machines.

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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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