Home Workout Trends to Drive Fitness Equipment Market’s Growth

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Home Workout Trends to Drive Fitness Equipment
Markets Growth
Triton Market Research presents the Global
Fitness Equipment Market report sectioned by
End-user (Hotel, Home, Corporate Office,
Apartment, Health Club/Gym, Others), Distribution
Channel (Offline, Online), Type (Strength
Training Equipment, Cardiovascular Equipment,
Other Equipment), and by Geography (Latin
America, Asia-Pacific, Europe, North America,
Middle East and Africa). The report further
discusses the Market Summary, Industry Outlook,
Impact of COVID-19, Key Insights, Porters Five
Forces Analysis, Market Attractiveness Index,
Vendor Scorecard, Key Market Strategies, Drivers,
Challenges, Opportunities, Competitive Landscape,
Research Methodology Scope, Global Market Size,
Forecasts Analysis (2022-2028). Tritons report
suggests that the global market for fitness
equipment is estimated to witness growth at a
CAGR of 3.95 over the forecast period.
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etresearch.com/reports/fitness-equipment-marketre
quest-free-sample Fitness equipment refers to
machines that are employed for physical activity,
enhancing strength. These machines include
exercise bikes, weight machines, elliptical
trainers, and treadmills. Home fitness trends
have gained momentum across the globe ever since
the COVID-19 outbreak. The growing concern
relating to the virus has also led to the rise in
online training sessions, resulting in the
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robust growth of the virtual fitness sector. The
availability of experienced trainers online,
along with the availability of smart home
equipment, generates various opportunities for
the fitness equipment market. However, the rise
in fraudulent products and elevated cost of
fitness equipment negatively impacts the global
markets development. Globally, the Asia-Pacific
is expected to become the fastest-growing region
in the fitness equipment market. The regions
robust growth is mainly owing to the growing
concerns of obesity. Several industry estimates
infer that two out of every five adults suffer
from obesity, raising concerns pertaining to
chronic conditions. This has led to the rise in
gym and fitness club memberships, adding to the
fitness culture. Thus, the aforementioned factors
are anticipated to supplement the fitness
equipment markets progress. Leading companies
thriving in the fitness equipment market are
Precor Incorporated, Technogym SPA, Cybex
International Inc, True Fitness Technology Inc,
Nautilus Inc, Heinz Kettler GmbH and Co KG, iFIT
Health and Fitness Inc, Core Health and Fitness
LLC, Johnson Health Tech Co Ltd, Gymequip EU,
Peloton Interactive Inc, Life Fitness, Total
Fitness Equipment, and Impulse Health Tech Co
Ltd. Several players are investing heavily in RD
to expand their product offerings. The new
players are expected to face challenges as per
customer switching costs and capital
requirements. Moreover, they may also incur heavy
costs in manufacturing fitness equipment.
Furthermore, many are launching new products to
capture a higher market share. For instance, True
Fitness launched a stryker slat treadmill. Thus,
these factors indicate the threat of new entrants
to be low, while the competition among existing
players to be relatively higher.
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