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(MoneyNewsWire.Net, February 16, 2018 ) The North American Fitness Equipment Market was valued at $4,089 million in 2016 and is expected to reach $5,022 million in 2024, having a CAGR of 2.6% during the forecast period of 2017-2024.In 2016, the cardiovascular segment held the largest share of fitness equipment market in North America.
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Fitness equipment, also called as exercise equipment, are the devices or apparatus which are used during physical activity to enhance the strength or conditioning effects of that exercise by providing either fixed or adjustable amounts of resistance, or to otherwise enhance the experience or outcome of an exercise routine. These devices are majorly used to manage overall weight, improve physical stamina, and develop muscular strength. Some majorly used cardiovascular equipment are treadmills, elliptical and stationary bike. They help in the stimulation of the heart rate. Urbanization in the North American region has led to a sedentary lifestyle, which has led to a growing number of gym and fitness center goers in the United States. Further, it has also positively impacted the in-home gym trend across the globe, finally increasing the business to customer sales of fitness equipment.
Market Dynamics
In the United States, people are getting strictly conscious about their health day by day. Being a developed country, the internet has also contributed significantly to easy availability of information. A significant share of the geriatric population in the developed and developing countries of North America use specialized fitness equipment in order to improve their cardiovascular conditions. This very trend is significantly driving the fitness equipment market in the region. Growing inclination for fitness equipment is directly proportional to the count of obese population that is growing rapidly in North American countries. Moreover, a highly competitive market can demand latest products or updated versions of existing products. The number of health clubs and membership is increasing at notable growth rates. High consumption of fast food and sedentary lifestyle are also factors causing people to adopt fitness or exercise equipment in their daily schedule, and hence boosting the market. However, the high price of fitness equipment is a major restraining factor for the fitness equipment market as this leads to increase in demand for used fitness equipment. Furthermore, increasing disposable income across the emerging economies and increasing youth population in the developing countries can act as future opportunities for the fitness equipment market.
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Market Segmentation
The segmentation of the North American fitness equipment market is done on the basis of type, user, and country. By type, the market is segmented into cardiovascular, strength training and others. On the basis of a user, the market is segmented as home, health club and other commercial users. On the basis of country, the market is segmented as U.S, Canada, and Mexico. U.S. generated the highest revenue in terms of fitness equipment in 2016. It is expected to dominate the market throughout the forecast period owing to growing obesity rate.
Some major players in the market are, Amer Sports Corporation, Nautilus Inc., Brunswick Corporation, Johnson Health Tech Co., Ltd., TRUE Fitness, Cybex International, Inc., Impulse (Qingdao) Health Tech Ltd. Co., ICON Health & Fitness, Inc., Torque Fitness LLC., and Fitness EM LLC
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NORTH AMERICA FITNESS EQUIPMENT MARKET SEGMENTATION
By Type
Cardiovascular
Treadmill
Elliptical
Stationary Bike
Rowing Machine
Others
Strength training
Others
By End User
Home
Health Club
Other Commercial
By Country
U.S.
Canada
Mexico
KEY MARKET PLAYERS
Amer Sports Corporation
Nautilus Inc.
Brunswick Corporation
Johnson Health Tech Co.Ltd.
TRUE Fitness
Cybex International, Inc.
Impulse (Qingdao) Health Tech Ltd. Co.
ICON Health & Fitness, Inc.
Torque Fitness LLC.
Fitness EM LLC
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