Home health tools permits folks to undertake exercises with out stepping out of their houses. Consumers are studying to make use of superior house health tools through on-line movies and apps with out the necessity to have interaction trainers, thus saving on prices. Furthermore, hectic work schedules and a rise in well being points have compelled folks to undertake some type of train day by day to stay wholesome and stop health-related points, thus rising the demand for health tools will drive the market. Additionally, the COVID-19 pandemic has contributed additional to the demand for house health tools. Since the second quarter (Q2) of 2020, house health tools witnessed robust development in demand globally. The speedy rise within the variety of folks recognized with the illness led governments in numerous international locations globally to implement lockdowns, which compelled folks to remain indoors. In addition, most governments introduced the shutting down of gyms, health facilities, yoga studios, and recreation areas, which additional performed a significant position in triggering the gross sales of house health tools.
However, the price of house health tools is excessive which can impede the market. The premium treadmill merchandise could be dearer. This hinders the acquisition of health tools, particularly in creating international locations. Consumers discover becoming a member of well being golf equipment extra economical than shopping for house health tools. Also, some folks residing in creating international locations are extra skeptical about spending on well being golf equipment and health club memberships. Furthermore, the presence of a number of native manufacturers providing counterfeit merchandise within the world health tools market is resulting in market fragmentation, thus leading to points resembling the shortage of value standardization, an uneven aggressive situation, and market share erosion. To acquire a aggressive benefit over worldwide manufacturers, these manufacturers provide counterfeit merchandise which might be priced decrease however lack high quality and sturdiness. However, these merchandise are most popular by low-income shoppers as they’re reasonably priced. As a outcome, authentic manufacturers are unable to realize optimum market penetration, which results in a listing backlog of their provide chain.
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Company Profiles
The health tools market is fragmented and the distributors are deploying varied natural and inorganic development methods to compete available in the market. The health tools market report contains data on the product launches, sustainability, and prospects of main distributors together with Core Health and Fitness LLC, Dyaco International Inc., Icon Health and Fitness Inc., Impulse (Qingdao) Health Tech Co. Ltd., Johnson Health Tech Inc., Life Fitness, Nautilus Inc., Panatta Srl, TECHNOGYM Spa, and Tunturi New Fitness BV.
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Competitive Analysis
The aggressive situation offered within the health tools market report analyzes, evaluates, and positions corporations based mostly on varied efficiency indicators. Some of the components thought-about for this evaluation embrace the monetary efficiency of corporations over the previous few years, development methods, product improvements, new product launches, investments, development in market share, and many others.
Market Segmentation
Technavio report extensively covers health tools market segmentation by product (cardiovascular coaching tools, power coaching tools, and different tools), end-user (particular person customers and well being golf equipment and gymnasiums), and geography (North America, APAC, Europe, MEA, and South America).
- By Product, the market is classed as cardiovascular coaching tools, power coaching tools, and different tools.
The health tools market share development within the cardiovascular coaching tools phase can be important for income technology. The cardiovascular coaching tools phase contains treadmills, cross-trainers, stationary bikes, and ski machines. Cardiovascular coaching tools like treadmills and cross-trainers have a decrease lifespan than power coaching tools. Therefore, the substitute gross sales of cardiovascular coaching tools are larger than that of power coaching tools. This will result in larger gross sales of cardiovascular coaching tools in the course of the forecast interval. Furthermore, rising well being consciousness amongst shoppers can be driving the phase’s development. - By Geography, the market is classed as North America, APAC, Europe, MEA, and South America. North America could have the biggest share of the market. 38% of the market’s development will originate from North America in the course of the forecast interval. The US is a key market for health tools in North America. Market development on this area can be sooner than the expansion of the market in Europe. The elevated prevalence of age-related well being situations will facilitate the health tools market development in North America over the forecast interval.
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Fitness Equipment Market Scope |
|
|
Report Coverage |
Details |
|
Page quantity |
120 |
|
Base yr |
2020 |
|
Forecast interval |
2021-2025 |
|
Growth momentum & CAGR |
Decelerate at a CAGR of 18.52% |
|
Market development 2021-2025 |
USD 7.71 billion |
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Market construction |
Fragmented |
|
YoY development (%) |
48.57 |
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Performing market contribution |
North America at 38% |
|
Competitive panorama |
Leading corporations, aggressive methods, shopper engagement scope |
|
Companies profiled |
Core Health and Fitness LLC, Dyaco International Inc., Icon Health and Fitness Inc., Impulse (Qingdao) Health Tech Co. Ltd., Johnson Health Tech Inc., Life health, Nautilus Inc., Panatta Srl, TECHNOGYM Spa, and Tunturi New Fitness BV |
|
Market Dynamics |
Parent market evaluation, Market development inducers and obstacles, Fast-growing and slow-growing phase evaluation, COVID 19 impression and future shopper dynamics, market situation evaluation for forecast interval, |
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Customization purview |
If our report has not included the info that you’re on the lookout for, you possibly can attain out to our analysts and get segments personalized. |
Table of Content
Executive Summary
Market Landscape
- Market ecosystem
- Value chain evaluation
Market Sizing
- Market definition
- Market phase evaluation
- Market dimension 2020
- Market outlook: Forecast for 2020 – 2025
Five Forces Analysis
- Bargaining energy of consumers
- Bargaining energy of suppliers
- Threat of recent entrants
- Threat of substitutes
- Threat of rivalry
- Market situation
Market Segmentation by Product
- Market segments
- Comparison by Product
- Cardiovascular coaching tools – Market dimension and forecast 2020-2025
- Strength coaching tools – Market dimension and forecast 2020-2025
- Other tools – Market dimension and forecast 2020-2025
- Market alternative by Product
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Individual customers – Market dimension and forecast 2020-2025
- Health golf equipment and gymnasiums – Market dimension and forecast 2020-2025
- Market alternative by End-user
Customer panorama
Geographic Landscape
- Geographic segmentation
- Geographic comparability
- North America – Market dimension and forecast 2020-2025
- APAC – Market dimension and forecast 2020-2025
- Europe – Market dimension and forecast 2020-2025
- MEA – Market dimension and forecast 2020-2025
- South America – Market dimension and forecast 2020-2025
- Key main international locations
- Market alternative by geography
- Market drivers
- Market challenges
- Market developments
Vendor Landscape
Vendor Analysis
- Vendors lined
- Market positioning of distributors
- Core Health and Fitness LLC
- Dyaco International Inc.
- Icon Health and Fitness Inc.
- Impulse (Qingdao) Health Tech Co. Ltd.
- Johnson Health Tech Inc.
- Life health
- Nautilus Inc.
- Panatta Srl
- TECHNOGYM Spa
- Tunturi New Fitness BV
Appendix
- Scope of the report
- Currency conversion charges for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a number one world expertise analysis and advisory firm. Their analysis and evaluation concentrate on rising market developments and supplies actionable insights to assist companies establish market alternatives and develop efficient methods to optimize their market positions. With over 500 specialised analysts, Technavio’s report library consists of greater than 17,000 experiences and counting, protecting 800 applied sciences, spanning throughout 50 international locations. Their consumer base consists of enterprises of all sizes, together with greater than 100 Fortune 500 corporations. This rising consumer base depends on Technavio’s complete protection, intensive analysis, and actionable market insights to establish alternatives in present and potential markets and assess their aggressive positions inside altering market eventualities.
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SOURCE Technavio
https://www.prnewswire.com/news-releases/fitness-equipment-market-recorded-a-48-57-y-o-y-growth-rate-in-2021–driven-by-increased-demand-for-home-fitness-equipment–technavio-301536932.html
