The industry for exercise equipment is currently driven by the growing desire for health and fitness. The rise in urbanization, the prevalence of obesity and chronic diseases brought on by unhealthy lifestyles, the expansion of corporate wellness initiatives, and demand from a variety of industries are some of the major factors driving the fitness equipment market. In addition, the geriatric population is expanding and there is a rising demand for minimally invasive and non-invasive surgeries, which all contribute to the market's overall growth. On the other hand, it is predicted that the market growth during the forecast period will be constrained by the high installation or setup costs for equipment or devices and rising demand for the resale of exercise equipment that is cost-effective.
According to Data Bridge Market Research, Fitness Equipment Market is expected to reach the value of USD 5,185.68 million by 2030, at a CAGR of 6.4% during the forecast period.
"Increasing health consciousness surge market demand"
The increasing health consciousness among individuals in Europe is fueling the demand for fitness equipment. With a growing awareness of the importance of maintaining a healthy lifestyle and physical fitness, people are actively seeking ways to stay fit. This has led to a surge in the purchase of fitness equipment, both for home and commercial use. Consumers are investing in equipment that allows them to exercise conveniently and achieve their fitness goals effectively, driving the market growth in Europe.
What restraints the growth of the fitness equipment market?
“High cost can impede the market growth”
The high cost of fitness equipment, particularly for high-quality and advanced models, can hinder the widespread adoption of fitness equipment by individuals and fitness facilities. The upfront investment required to purchase such equipment can be a financial barrier, especially for those with limited resources. This cost constraint may limit their ability to invest in fitness equipment and potentially hinder their access to the benefits of regular exercise and physical fitness.
Segmentation: Europe Fitness Equipment Market
The fitness equipment market is segmented on the basis of product type, application, gender, buyer type, usage, type, end user, and distribution channel.
- On the basis of product type, the fitness equipment market is segmented into strength training equipment, cardiovascular training equipment, body composition analyzers, fitness monitoring equipment and others.
- On the basis of application, the fitness equipment market is segmented into weight loss, body building, physical fitness, mental fitness and others.
- On the basis of gender, the fitness equipment market is segmented into male and female.
- On the basis of buyer type, the fitness equipment market is segmented into individual, institution and others.
- On the basis of usage, the fitness equipment market is segmented into residential and commercial.
- On the basis of type, the fitness equipment market is segmented into outdoor and indoor.
- On the basis of end user, the fitness equipment market is segmented into health clubs/gyms, home consumer, hotels, corporates, hospital and medical centers, public institutions and others.
- On the basis of distribution channel, the fitness equipment market is segmented into retail stores, specialty and sports shops, department and discount stores, online and others.
Regional Insights: Germany dominates the Europe Fitness Equipment Market
Germany dominates the Europe fitness equipment market due to several factors. Firstly, Germany is known for its mass production capabilities, allowing for efficient manufacturing of fitness equipment. Secondly, there is a growing demand for fitness equipment from emerging markets within Europe. Lastly, the expansion of the fitness industry in Germany, coupled with the country's focus on health and wellness, contributes to its leading position in the European market.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/europe-fitness-equipment-market
Recent Developments in Europe Fitness Equipment Market
- In 2022, A complete fitness solution at a reasonable price point is now available to customers thanks to the launch of the Bowflex BXT8J treadmill by Nautilus, Inc., a leader in home fitness innovation. This treadmill is compatible with the JRNY adaptive fitness app. High-performance cardio is available on the Bowflex BXT8J treadmill, which also allows users to connect their devices to the JRNY adaptive fitness app. This has enabled the business to diversify its product offering.
- In 2022, In order to become the first manufacturer of fitness equipment with a wholly-owned subsidiary in India, Johnson Health Tech announced the acquisition of the fitness division of Cravatex Brands Limited, a former distributor for Johnson Health Tech. Johnson Health Tech advanced the fitness industry with its ongoing investments in product development and manufacturing know-how. This has enabled the business to grow.
The Prominent Key Players Operating in the Europe Fitness Equipment Market Include:
- Nautilus, Inc. (U.S.)
- Life Fitness (U.S.)
- Johnson Health Tech (Taiwan)
- TECHNOGYM S.p.A (Italy)
- TRUE . (U.S.)
- Impulse (QingDao) Health Tech CO., LTD (China)
- iFIT . (U.S.)
- Torque Fitness (Canada)
- Body-Solid Inc. (U.S.)
- Core Health & Fitness, LLC (U.S.)
- Precor Incorporated (U.S.)
- Afton (India)
- Fitness World - Odense, Denmark
- Shanghai Define Health Tech CO LTD (China)
- REALLEADER FITNESS CO., LTD (China)
- Shandong Aoxinde Fitness Equipment Co., Ltd. (China)
- BFT Fitness (China)
- Yanre Fitness (China)
- FITKING FITNESS (China)
- Fitline India (India)
Above are the key players covered in the report, to know about more and exhaustive list of fitness equipment market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Europe Fitness Equipment Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
