The Worldwide Gym Accessories Industry is Expected to Reach $12 Billion by 2031 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Gym Accessories Market By Type, By End User, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

The Gym Accessories Market Size was valued at $6.5 billion in 2020, and is estimated to reach $12.0 billion by 2031, registering a CAGR of 6.2% from 2022 to 2031.

Increase in prevalence of obesity and rise in health consciousness majorly boost the growth of the global gym accessories market. Furthermore, surge in number of gym memberships, 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 the 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 the 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 gym accessories 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 gym accessories market.

The adoption of at-home fitness equipment is expected to increase in the coming years. Sedentary lifestyle and hectic schedules have led to the adoption of at-home fitness equipment. Exercising at home using fitness equipment saves gym membership expenses, which acts as a key driving force of the global market. Furthermore, leading players in the industry are coming up with innovative solutions. For instance, Life Fitness, one of the players operating in the market, offers F3 folding treadmill to home consumers with wireless telemetry heart rate monitoring and convenience of minimal storage space. Therefore boosting the gym accessories market in the process.

Europe leads in terms of market share, however, Asia-Pacific is anticipated to grow with highest CAGR during the forecast period. Upsurge in disposable income, increase in health consciousness, and rise in number of obese population in Europe are expected to augment the adoption of exercising and good food habits. Moreover, alarming surge has been witnessed in the incidence of lifestyle diseases such as obesity, diabetes, heart disease, hypertension, and other bone diseases. Rise in awareness among people about longterm consequences of such diseases has encouraged people to stay fit by working out regularly. Furthermore, rapid urbanization in developing economies of Asia-Pacific, increase in youth population, and rise in per capita disposable income are expected to propel the adoption of at-home fitness equipment in the region.

Key Benefits

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the gym accessories market analysis from 2021 to 2031 to identify the prevailing gym accessories market opportunities.
• 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 gym accessories market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• 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 gym accessories market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By End User

• Home
• Apartment
• Health Club/Gym
• Hotel
• Corporate Office
• Public Institution, Hospitals Medical Center

By Distribution Channel

• Supermarkets and Hypermarkets
• Specialty Stores
• Online Sales Channels
• Brand outlets

By Type

• Ab Straps
• Belts
• Wrist Wraps
• Heart Rate Monitor
• Blood Pressure Monitor
• Exercise Balls
• Others

By Region

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• Italy
• France
• Spain
• Russia
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Singapore
• New Zealand
• Rest of Asia-Pacific
• LAMEA
• Brazil
• Argentina
• South Africa
• Saudi Arabia
• UAE
• Rest of LAMEA

Key Market Players

• Anta.cn
• Body - Solid, Inc
• Concept2, Inc
• Core Health & Fitness
• Eleiko
• Exigo
• Hammer Sport AG
• Icon Health & Fitness
• Jerai Fitness
• Life Fitness
• Naitilus Inc
• Peloton interactive, Inc
• Rouge Fitness
• SportsArt
• TechnoGym
• Torque Fitness
• Tunturi New Fitness

For more information about this report visit https://www.researchandmarkets.com/r/jpnvnd