ALBANY, New York, March 18, 2019 /PRNewswire/ -- With respect to the competitive scenario, the global commercial fitness equipment market flaunts major organizations, for example, Johnson Health Tech. Co., Ltd., Brunswick Corporation (Life Fitness), Technogym, Cybex, Amer Sports Corporation, Matrix Fitness, and so on. Due to presence of a various well-known organizations, the global commercial fitness equipment market observers the high level of competition. Along these lines, so as to gain an edge over the other contenders a large number of these ventures have taken up mergers and acquisitions. Collaborations are supported as well, as they offer the players to extend their impression in the fitness equipment market. Large number of organizations working in the global commercial fitness equipment market are progressively disposed toward manufacturing long-term associations with gyms and hotels to remain a sole provider of fitness equipment for an extended period of time.
According to a recent report by Transparency Market Research (TMR), the global commercial fitness equipment market is likely to witness an expansion with a steady CAGR of 4.8% within the forecast period from 2017 to 2022. The global commercial fitness equipment market was foreseen to be around worth US$2,19 Bn in 2017 and is likely to reach around a valuation of US$2,77 Bn by the end of forecast period.
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Machines utilized for enhancing cardiovascular health, such as treadmills are foreseen to experience a surged demand during the forecast period. The mentioned segment is likely to of worth US$1,045.8 mn by 2022 end. The Europe commercial fitness equipment market is prognosticated to surge at a steady CAGR of 4.6% in the coming years. This Europe commercial fitness equipment market is to soar around of US$821.1 mn by 2022.
Increased Cases of Chronic Heart Ailments to Support Market Growth
Factors for example increasing cases of chronic heart ailments and obesity, along with changing lifestyle have forced people to concentrate more on their personal health. This has resulted in more number of health conscious people. Moreover, governments from several nations have launched various programs and healthcare awareness initiatives to support their citizens. Owing to these conditions, the global commercial fitness equipment market is prognosticated to evolve in the forthcoming years.
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Besides, rising pollution and fast urbanization because of industrialization, which are prompting ill health and stress will play huge part in making purchasers more attracted to invest their money and energy on exercise and fitness. Against this situation, countries around the globe have seen growth in exercise center enrollment particularly among urban and working population. Moreover, the increasing awareness among elderly people has helped the market gain pace too.
High Manufacturing Prices to Restrict Commercial Fitness Equipment Market Growth
Even though since past few years there has been an advent of connected gadgets and advancements in technology which has fueled the market demand for commercial fitness equipment; the high manufacturing prices of the equipment hinder the market growth. Different companies have different prices of the same product. This prompts customers to use public equipment, then buying their personal ones. This public equipment is more durable and can be used for longer time. These are some of the hampering factors working against market growth.
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Nevertheless, emergence of smart wearables and mobile apps help users keep a track of their performances and vitals along with personalized training. This will support the market to grow with leaps and bounds in coming years.
The data and information presented is based on the findings of a TMR report, titled "Commercial Fitness Equipment Market (Product - Treadmill, Free Weights, Exercise Cycles, Elliptical Machines, and Ab Machines; End User - Gym, University and School, Community, and Sports Center; Distribution Channel - Sports Goods Stores, Specialty Sports Shops, Online Retailing, Discount Stores, and Departmental Stores) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022."
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The global Commercial Fitness Equipment Market can be segmented as follows: -
- Free Weights
- Exercise Cycles
- Ab Machines
- Elliptical Machines
- University and School
- Sports Centers
- Online Retailing
- Sports Goods Stores
- Specialty Sports Shops
- Departmental Stores
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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