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The physical fitness equipment market has been projected to reach US$14.8 billion by 2018, driven predominantly by the rising awareness about fitness and healthy living, increasing number of health clubs, and the advent of innovative products combining electronics and fitness.
The current obesity crisis, rising health care costs and an aging population have sparked an intense focus and diverted substantial financial resources toward improving the overall health of the global population. Given current trends, it has been forecast that corporations and the government will look for ways to lose weight, reduce stress and live an overall healthier lifestyle.
Exercising has emerged as one of the most noticeable trends in the millennium, with people across countries, age, and gender becoming concerned and aware about the health benefits accrued through healthy living. The availability of a wide range of fitness equipment ideal for all types of users is allowing individuals to take up exercising despite their hectic lifestyles.
In addition, rising memberships of clubs/spas, advent of user friendly equipment, and the development of innovative equipment in support of new fitness modalities are driving growth in the global physical fitness equipment market.
Major products included in the physical fitness equipment market are motorised treadmills, stationary bikes, stair climbers, rowing machines, and elliptical "cross-trainers," collectively called aerobic exercisers; and weightlifting machines and traditional weightlifting equipment ("free weights" and benches).
In addition, there are a large number of ancillary products. This equipment allows individuals to exercise by themselves in a limited space. The two major market segments for fitness equipment are the home and the institutional exercise equipment market (including health clubs, corporations, apartments, and hotels).
Treadmills represent the most widely used exercise equipment, globally. Treadmills are preferred by serious joggers and runners who wish to replicate the experience of outdoor workouts in the interiors. Rapid rise in the number of joggers is driving fitness equipment makers to offer treadmills as a convenient indoor alternative to outdoor walking and jogging activities.
The US physical fitness equipment manufacturing industry consists of approximately 100 companies with combined annual revenues of nearly $3 billion. Major companies include Cybex International, ICON Health & Fitness, Life Fitness, Nautilus, and Precor. The industry is highly concentrated, with the top five companies accounting for more than 50% of revenue.
For more information on the physical fitness equipment market, see the latest research: Physical Fitness Equipment Market
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