Surge in incidence of obesity, development of new equipment to provide improved experience, and rise in trend of open gyms and fitness centers drive the growth of the global outdoor fitness equipment market. Based on region, North America contributed to the highest market share in terms of revenue in 2020. The demand for outdoor fitness equipment was reduced during the initial period of pandemic.
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According to the report, the global outdoor fitness equipment industry generated $1.5 billion in 2020, and is anticipated to generate $1.8 billion by 2030, witnessing a CAGR of 4.3% from 2016 to 2030.The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Roshan Deshmukh, Consumer Goods at Allied Market Research, stated, “Customers in emerging nations such as India and Brazil are likely to be drawn in by innovative types of outdoor exercise equipment with a variety of functions. The developed markets, on the other hand, are expected to be driven by high-end equipment with sophisticated and advanced user interaction.”
COVID-19 scenario:
- The outdoor gyms and fitness centers were closed due to lockdown restrictions during the Covid-19 pandemic to avoid the possibility of cross-contamination. This reduced the demand for outdoor fitness equipment during the initial period of pandemic.
- In addition, the economy uncertainty led to postponement of plans regarding launching new outdoor fitness centers and gyms. This affected the demand for equipment.
- However, the demand is expected to recover post-pandemic as outdoor gyms and fitness centers open and new centers launch.
The report offers detailed segmentation of the global outdoor fitness equipment market based onproduct type, application, and region.
Based on product type, the action series segment accounted for the highest market share in 2020, contributing to nearly half of the global outdoor fitness equipment market, and is expected to maintain its leadership status during the forecast period. However, the heavy duty series segment is expected to witness the highest CAGR of 5.4% from 2021 to 2030.
Based on application, the outdoor gyms segment held the highest market share in 2020, accounting for more than one-fourth of the global outdoor fitness equipment market, and is expected to maintain its lead position during the forecast period.
Based on region, North America contributed to the highest market share in terms of revenue in 2020, accounting for around one-third of the global outdoor fitness equipment market, and is expected to maintain its dominance in terms of revenue by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 5.8% during the forecast period.
Leading Market Players
- Kompan. A/S
- Landscape Structures Inc.
- Outdoor Fitness, Inc.
- PlayCore Inc.
- Proludic Ltd
- SportsPlay Equipment, Inc
- Stayfit Health and Fitness World Private Limited
- The Great Outdoor Gym Company Ltd
- Wicksteed Leisure Ltd
- Xccent, Inc
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