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, 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 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.
The global lateral fitness equipment market is segmented into type, body type, end user, distribution channel, and region. By type, the market is classified into treadmill, elliptical, exercise bike, shoulder press machine, and chest press machine. By body type, it is categorized into upper body and lower body. By end user, it is divided into home, apartment, health club/gym, hotel, corporate office, and public institution, hospitals & medical center. On the basis of distribution channel, the market is bifurcated into online and offline. By region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the lateral fitness equipment market analysis include 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., and Cybex International Inc.
KEY BENEFITS FOR STAKEHOLDERS
- 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 MARKET SEGMENTS
- By Type
- ·Exercise Bike
- ·Shoulder Press Machine
- ·Chest Press Machine
- By body Type
- ·Upper Body
- ·Lower Body
- By End User
- ·Health Club/Gym
- ·Corporate Office
- ·Public Institution, Hospitals, and Medical Center
- By Distribution Channel
- ·North America
_ Rest of Europe
_ Australia & New Zealand
_ Rest of Asia-pacific
_ Latin America
_ Middle East