The market of home fitness equipment is also witnessing gradual growth since the past few years. The aging population across developed countries such as Japan and South Korea prefer exercising at home. The equipment used in homes are most commonly designed and used for cardiovascular exercises
Fitness Equipment Market Report, published by Allied Market Research, forecasts that the APAC market is expected to garner $2.4 billion by 2020, registering a CAGR of 7.5% during the period 2015-2020. Rapidly growing youth population with rising disposable income and the growing awareness about health and fitness, would drive the growth in Asian countries such as China and India. By 2020, the adoption of fitness equipment by health clubs would contribute about 47% of the Asia-Pacific fitness equipment market revenue. Among the different types of fitness machines, cardiovascular fitness equipment would dominate the market throughout the analysis period.
As a result of unhealthy eating habits and hectic lifestyle, the count of obese or overweight population is on rise in Asian countries. In order to overcome the problems associated with obesity, people are preferring physical workouts. The cardiovascular equipment market is benefited due to the increased preference of weight management exercises. As a result, the market of cardiovascular exercise equipment continues to be a significant contributor, accounting for over half of the total revenue of the Asia-Pacific fitness equipment market, throughout the analysis period.
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Among the end user segments, health clubs would significantly drive the fitness equipment market growth as these are the most preferred workout stations for a significant proportion of population under the age of 50 years. The business of health clubs across Asia is expected to grow by at least $10 billion in next few years. A significant proportion of this business would be reinvested into purchasing or upgrading the fitness equipment, eventually driving the market of equipment across Asia-Pacific. Additionally, the adoption from other commercial users such as hotels, hospitals and corporate offices would rise rapidly during the forecast period. Several leading industry players such as Technogym, Johnson Health Tech Ltd. and Precor offer customized product portfolios in the commercial user segment.
Key findings of the study:
- The Asia-Pacific fitness equipment market would grow at a steady rate during the forecast period owing to the increasing demand by obese population and rising health and fitness awareness
- India would witness the highest growth, followed by China. The fitness equipment market in India would grow at a CAGR of 8.8% during 2015 – 2020
- The cardiovascular equipment segment would drive the market throughout the analysis period with around 50% of contribution to market size by value
- The adoption of fitness equipment by commercial customers such as hotels, hospitals, and enterprises would grow at a CAGR of 9.0% during the forecast period
- Health clubs would continue to dominate the user segment accounting for over 40% of the market share throughout the analysis period
The presence of the leading global players as well the domestic companies is observed in the Asia-Pacific fitness equipment market. Domestic players compete with branded products from international players, who operate through strong distribution channels. To sustain the competitive market, many leading companies such as Amer Sports, Nautilus and Cybex International are launching new products and partnering with other companies. The report covers a detailed study of key players such as Amer Sports, Nautilus Inc., Konami Corporation, Brunswick Corp., Cybex International Inc., ICON Health & Fitness Inc., Johnson Health Tech Ltd., Technogym SpA, Impulse Health Tech Ltd. Co. and Shuhua Co. Ltd.
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TABLE OF CONTENT :-
CHAPTER: 1 INTRODUCTION
1.1 Report Description
1.2 Key Take Away
1.3 Market Segmentation
1.4 Research Methodology
1.4.1 Secondary Research
1.4.2 Primary Research
1.4.3 Analyst Tools and Models
CHAPTER: 2 EXECUTIVE SUMMARY
2.1 CXO Perspective
2.2 Market Beyond: What to Expect By 2025
2.2.1 Base Case Scenario
2.2.2 Optimistic Case Scenario
2.2.3 Critical Case Scenario
CHAPTER: 3 MARKET OVERVIEW
3.1 Market Definition and Scope
3.2 Key Findings
3.2.1 Top Factors Impacting the Asia-Pacific Fitness Equipment Market
3.2.2 Top Investment Pockets
3.2.3 Top Winning Strategies
3.3 Latest Trends In the Market
3.4 Porters Five Forces Analysis
3.4.1 Lower Threat of Substitutes Due to Absence of Feasible Alternative
3.4.2 Players From Sports Goods Business Increase the Threat of New Entrants
3.4.3 Strategic Agreement with Material Suppliers Limit the Bargaining Power to Moderate Level
3.4.4 Large Share of Commercial Customers on Manufacturers Sales Leads to their Higher Bargaining Power
3.4.5 Competition in the Market Increases with Emergence of Domestic Players
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