Global Fitness Equipment Market Revenue to Register CAGR of 4.1% Over Next 10 Years - MarketResearch.biz

NEW YORK, March 21, 2018 /PRNewswire/ --

MarketResearch.biz has published a new report titled Global Fitness Equipment Market by Type (Cardiovascular training equipment, Strength training equipment, and Others), End User, and Region - Global Forecast to 2026., which offers a holistic view of the fitness equipment market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2017-2021) is projected to be US$ 59,597.2 Mn, which is expected to increase rather moderately over the latter part of the five-year forecast period. According to report, the fitness equipment market is projected to reach a value of over US$ 15,500 Mn in 2026 at a CAGR of 4.1% over the forecast period. According to a study conducted by the Center for Disease Control and Prevention, in 2012, stated that 34.9% of US adults are obese. According to a survey analysis conducted in 2015, Arkansas, West Virginia, and Mississippi reported obesity rates exceeding 35%, which has led to relatively higher adoption of cardiovascular equipment.

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Growing health-conscious population particularly between the age group of 20-35 years and Fitness equipment plays a major role in physical exercises, to manage overall weight, improve physical stamina, and develop muscular strength of an individual. As such fitness equipment are considered a major part of the health and fitness industry. Fitness equipment includes treadmills, free weights, weight machines, elliptical trainers, and many more. Growth of the global fitness equipment market is driven by industry players focusing intensely on research and development of new, easy-to-use, and cost-effective fitness equipment, coupled with growing awareness about fitness among individuals in developed and developing countries.

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Global Fitness Equipment Market: Market Dynamics 

High prevalence rate coupled with increasing incidence of obesity in developed and in some developing countries, coupled with growing awareness among individuals abut fitness are major factors driving growth of the global fitness equipment market. In addition, increasing government initiatives for spreading awareness about fitness, and growing adoption of fitness equipment by households across developed and developing economies are other major factors expected to fuel growth of the global fitness equipment market over the forecast period. Moreover, manufacturers developing & introducing multi-functional fitness equipment that provides entertainment in the form of video and audio streaming, and internet connectivity through Wi-Fi is another factor anticipated to aid in growth of the global fitness equipment market to a significant extent.