DUBLIN--(BUSINESS WIRE)--The "Lateral Fitness Equipment Market by Type, Body Type, End User and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The global lateral fitness equipment market size was valued at $5.4 billion in 2020, and is estimated to reach $10.7 billion by 2027 with a CAGR of 10.1% from 2020 to 2027.
Fitness equipment is any machine or device required for physical exercise to manage overall weight, improve physical stamina, and develop muscular strength. The demand for fitness equipment has increased globally, due to increase in health awareness. In addition, physical exercise is advised during certain medical treatments. The most commonly used fitness equipment include treadmills, elliptical, stationary bicycles weightlifting machines & strength building machines, and others.
Increase in prevalence of obesity and rise in health consciousness majorly boost the growth of the global lateral fitness equipment market. Furthermore, surge in number of gym memberships, a rise in sale of in-home equipment, upsurge in urban population, and increase in government initiatives to promote healthy life fuel the adoption of fitness equipment. However, high price of fitness equipment hampers market growth. On the contrary, improvement in lifestyle, increase in youth population, and rise in per-capita income in the developing countries are the factors anticipated to provide lucrative opportunities for market growth.
Increase in penetration of various online portals in the developing regions and rise in number of offers or discounts attract consumers to purchase lateral fitness equipment through online channels. Moreover, online sales channel increased the consumer reach owing to which it has evolved as a key source of revenue for many companies. Furthermore, the online sales market is expected to expand in the near future due to rapid growth in online and mobile user customer bases in the emerging markets. Increase in e-commerce sales, improvements in logistics services, ease in payment options, and the facility to enter in new international markets for major brands further augment the growth of the lateral fitness equipment market.
Key Benefits
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the market analysis from 2019 to 2027 to identify the prevailing lateral fitness equipment market opportunities.
- The key countries in all the major regions are mapped on the basis of market share.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global lateral fitness equipment industry.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global market trends, key players, market segments, application areas, and market growth strategies.
Key Findings
- Depending on type, the treadmill segment dominated the market in 2019, and is expected to retain its dominance throughout the forecast period.
- By body type, the lower body segment accounted for highest share in the lateral fitness equipment market growth in 2019, and is projected to grow at a CAGR of 10.1% from 2020 to 2027.
- On the basis of end user, the health club/gym segment led the market demand in 2019, and is expected to retain its dominance throughout the forecast period.
- As per distribution channel, the offline segment was the major shareholder in 2019, and is projected to register a CAGR of 10.1% from 2020 to 2027.
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Region wise, North America accounted for highest lateral fitness equipment market share in 2019 and is expected to grow at a CAGR of 8.6%.
Market Dynamics
Drivers
- Penetration of International Brands
- The Growth of Gym Culture
- Growing Health and Fitness Awareness
- Increasing Trend for Home Gym
Restraint
- Availability of Counterfeit Brands
- High Cost of Lateral Fitness Equipment
Opportunity
- Smart Fitness Equipment
- Increase in Social Media Marketing
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Surge in Government Investment in Sports Events
Companies Mentioned
- ICON Health & Fitness Inc.
- Johnson Health Tech Co. Ltd.
- TECHNOGYM S.P.A.
- Amer Sports Corporation
- Nautilus Inc.
- Core Health & Fitness LLC.
- True Fitness Technology Inc.
- Impulse (Qingdao) Health Tech Ltd. Co.
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Cybex International Inc
For more information about this report visit https://www.researchandmarkets.com/r/spir6d
