Fitness Equipment Market to expand $14bn by 2024

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Fitness Equipment Market in APAC Country to gain
substantial revenue from health club applications
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

• In a bid to respond to the rising health
  concerns, fitness equipment market has been
  experiencing a strong footing especially when
  technology is empowering this business space.
  Fitness has been recognized as an integral
  component of well-being and longevity. With
  regards to this, there has been an influx of
  latest trends in the healthcare fraternity that
  are specifically designed keeping into
  consideration the sedentary lifestyles of the
  consumers.
• The Italian fitness giant, Technogym, for
  instance, has recently opened a fully interactive
  concept store in Milan, offering the public with
  the latest interactive wellness solutions. The
  new space is designed in collaboration with
  Studio Antonio Citterio Patricia Viel Interiors.
  This is profoundly TechnoGyms flagship in the
  fitness equipment industry space, given the fact
  that this 750 square foot, 3 storied fully
  interactive store is reportedly the first of its
  kind.
• Today, hectic lifestyles and unhealthy diet are
  hitting a major chunk of the global population
  with a plethora of lifestyle disorders that are
  resulting from physical inactivity such as
  cardiovascular diseases, muscle degeneration,
  diabetes, and weight gain.

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Continued...

• The increasing penetration of these
  aforementioned diseases has necessitated the
  requirement of physical activities, subsequently
  driving fitness equipment market
  commercialization. This is quite evident from the
  increasing number of membership at gyms and
  fitness club especially across urban areas in
  developed developing nations. In fact, as per
  statistics, in 2016, around over 57 million
  Americans were engaged in fitness centers and
  health clubs, which shows an exponential increase
  over a period of six years (32.8 million in
  2000). Not only America, Europe proved to be
  another outpacing region actively partaking in
  the fitness equipment market, subject to the fact
  the regional fitness membership exceeded 9
  million in 2016.
• A recent report brought forth by Global Market
  Insights, Inc. depicts that health clubs and gyms
  procures a sizable chunk of the overall fitness
  equipment industry share. Obesity considered as
  one of the root causes of the life style related
  diseases, is profoundly the key driving force
  behind the fitness equipment market
  proliferation. Evidence suggests that the
  situation is detrimental in developed belts like
  America and Europe. Enlisted below are some of
  the essential statistics by Centers for Disease
  Control and Prevention (CDC) related to U.S.
  obesity prevalence which in a way is leaving its
  connotation on the regional overall fitness
  equipment industry.

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

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Continued...

• Of late consumers have become increasingly health
  conscious, the fundamental aspect thriving the
  fitness equipment industry dynamics. The
  unprecedented advancement in healthcare IT has
  been successful in fetching consumers to improve
  their health by adopting novel technologies like
  software tracking apps, wearables, and connected
  devices. In this regard, the involvement of tech
  giants like Google, Fitbit, and Verizon is worth
  noticing. These mammoths are bringing the latest
  trend of onsite gyms that are facilitated with
  dedicated trainers 247.
• In this burgeoning business landscape, mergers
  and acquisitions is the prime strategy adopted by
  fitness equipment market players to strengthen
  their geographical presence by expanding the
  product portfolio. The past year acquisition of
  Cybex International Inc., the leading commercial
  fitness maker by Brunswick Corp is quite an
  evidence to the aforementioned tactic.
  Reportedly, with this collaboration, Brunswick
  Corp is trying to exploit Cybex Internationals
  cardiovascular and strength training product
  segments.
• Global fitness equipment industry is forecast to
  record a valuation over USD 14 billion by the end
  of 2024, with a projected CAGR of 3 over the
  period of 2017-2024. Despite the high cost that
  remains a significant restraining factor, fitness
  equipment market commercialization on a broader
  perspective is bound to witness an appreciable
  growth in the coming years, considering the
  health-driven consumer approach and technological
  proliferation in healthcare fraternity.

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Regional Analysis

• Speaking along the similar lines, U.S.
  contributed for the majority of fitness equipment
  market share. A large pool of the obese
  population is not only the only factor that has
  acted in favor of the regional market growth, but
  the technological empowerment has also parallelly
  complemented the business landscape. This can be
  evidenced by the abundance of advanced featured
  strength training and cardiovascular machines in
  the countrys health clubs and gyms. In fact,
  statistics depict, cardiovascular training by the
  end of 2024, will cover almost 50 of the overall
  fitness equipment industry share.
• Though the obesity prevalence is not so
  predominant in the APAC belt, fitness equipment
  market in this region is forecast to observe
  impressive growth in the coming seven years. The
  prime factor that is enhancing the regional
  market outlook is the affluence in middle-class
  population and the subsequent increase in the
  disposable incomes. Japan, South Korea, China,
  Australia stand as the major revenue pockets.
  Governments of these emerging economies are
  consistently partaking in health care initiatives
  and programs, which in a way is leaving a
  perpetual impact on fitness equipment market.
  The Government of Australia, for instance,
  provides grant for applicants interested in
  setting a business venture related to gym and
  health centers.

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Companies

• Nautilus, Inc.
• Johnson Health Tech
• Amer Sports
• Icon Health Fitness
• Technogym
• Brunswick Corporation
• Torque Fitness
• Technogym S.p.A
• Torque Fitness

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