“Browse 48 Market Data Tables and 44 Figures spread over 203 Pages, along with an in-depth TOC on the Global Fitness Equipment Market Forecast 2021-2028.”
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Fitness equipment is characterized as any device or apparatus utilized during physical activity in order to enhance the exercise’s strength or conditioning benefits, thus improving its outcome or experience. The main types of fitness equipment include cardiovascular equipment as well as strength training equipment. Fitness equipment may also include wearing goods such as suitable gloves, footgear, and others.
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The popularity of Fitness and Gym Culture to Augment Market Growth
As per industry sources, the global fitness and health club industry generates more than $80 billion in revenue annually. Besides, people are also becoming more health-conscious, owing to which several fitness franchises are continually expanding every year. Furthermore, mass media plays an integral role in determining fitness culture, given the messages of an ideal body image they convey. Commercial advertisements have also emerged as an influential and significant force in generating a stereotype of the idyllic body image, not confined to fashion advertisements. Likewise, with more people turning to fitness as a lifestyle choice, the gym culture is set to foresee fast-paced growth. Hence, the popularity of fitness and gym culture fuels the global fitness equipment market growth.
Online is the Fastest-Growing Distribution Channel
Online distribution channels include third-party companies and e-commerce websites. These facilitate the direct buying of goods or services from a seller via the internet using a mobile app or web browser. Consumers find a product of interest directly or through alternative vendors using search engines that display the same products’ prices and availability at different e-retailers.
Moreover, e-commerce companies promote fitness equipment through various social media channels. All fitness equipment types are available via online channels. In addition, consumers can shop online using a wide range of devices.
Fastest-Growing Region: Asia-Pacific
The growing number of fitness influencers, the thriving gym culture, and the rising fitness awareness are among the key growth drivers in the region. Besides, the region encompasses a huge number of obese, overweight people. Such factors, along with the increasing numbers and popularity of fitness influencers, offer lucrative growth opportunities.
The strong market competition is accredited to the companies with undifferentiated fitness equipment products with larger product portfolios. At the same time, several companies are launching new products to capture new markets. Some key companies in the market include Technogym SPA, iFIT Health & Fitness Inc, Life Fitness, Nautilus Inc, etc.
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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.
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