Global Fitness Equipment Industry to hit $14bn by 2024

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Fitness Equipment Market to Surpass 14bn by
2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Fitness Equipment Market

• Fitness Equipment Market size is set to exceed
  USD 14 billion by 2024 according to a new
  research report by Global Market Insights, Inc.
  Rising health initiatives and programs to combat
  the increasing instances of weight-related
  diseases is a major factor driving the fitness
  equipment market growth. The Australian
  government, for instance, promotes healthy eating
  habits and provides free gym memberships to the
  general population to combat diabetes and heart
  related diseases. Approximately 38 of the adult
  population in the U.S suffers from obesity and
  the instances of childhood obesity is rapidly
  increasing. The disease can lead to an increased
  chance of cancer, cardiovascular illnesses,
  childbirth problems, and asthma.
• Rapid industrialization and urbanization,
  primarily in countries such as India and China,
  has led to an increase in pollution and the
  working population leading to a high-stress,
  sedentary lifestyle. Various gyms and health
  centers are providing customized programs and
  discount packages to their client base, further
  propelling the fitness equipment market size.

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Continued...

• Adoption of advanced technologies such as
  wearables, software tracking apps, and connected
  devices is revolutionizing the fitness equipment
  market. The penetration of smartphones and the
  internet connectivity across the world has led to
  the advent of personal AI trainers and mobile
  trackers that can monitor body movement.
  Corporate wellness programs are anticipated to
  exhibit a high growth during the forecast
  timespan.
• Organizations having strong financial resources,
  such as Verizon, Google, and Fitbit, are
  constructing on-site gyms that are available 247
  and have dedicated trainers. The Indian
  government, for instance, has issued orders for
  setting up gyms in every department to relieve
  the stress levels of ministers and officials.
• The cardiovascular equipment market is
  anticipated to dominate globally with
  approximately 5 CAGR from 2017 to 2024. Modern
  cardiovascular devices are equipped with body
  vital trackers and software apps that can be
  connected to the consumers smartphones or
  handheld devices. Furthermore, the high emphasis
  on weight-loss and leaner body figure is
  escalating the fitness equipment market demand.

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India Fitness Equipment Market Size, By End-Use,
2012-2024 (USD Million)

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Continued...

• The home fitness equipment market segment is
  projected to experience high growth over the
  forecast timespan. Home gyms boost privacy,
  eliminate the inconvenience of commuting, and are
  cost effective in the long run. Furthermore,
  consumers are more likely to purchase
  cardiovascular equipment as they are durable and
  provide more functionality to the user.
• Rising disposable income of the middle-class
  population is a major factor propelling the
  growth of the Asia Pacific fitness equipment
  market. Additionally, an increasing number of
  organizations are identifying the benefits of
  providing corporate wellness programs to their
  employee base. Government initiatives to improve
  the health of the citizens is creating growth
  opportunities for the industry.
• Players operating in the global fitness equipment
  market include Brunswick Corporation, Amer
  Sports, HOIST Fitness Systems, Nautilus, Inc.,
  Torque Fitness, True Fitness, etc. The industry
  is characterized by many new entrants investing
  heavily in the development of this technology,
  primarily small strength training equipment such
  as free weights. The industry is moving towards
  consolidation, with a number of mergers and
  acquisitions seen in the past few years for
  instance, the acquisition of LeMond by HOIST
  systems to expand their product offerings.

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