“The global market is expected to witness significant growth due to introduction of high-tech technology such as television screen, CSAFE connectivity, iPod compatibility, sound systems, Bluetooth connectivity, and others. Moreover, surge in number of gym memberships, rise in sale of in-home equipment, upsurge in urban population, and increase in government initiatives to promote healthy life is further anticipated to boost the overall revenue of the industry.
According to a new report published by Allied Market Research, titled, “Lateral Fitness Equipment Market by Type, Body Type, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020–2027,” the global lateral fitness equipment market size was valued at $5.4 billion in 2020, and is projected to reach $10.7 billion by 2027, registering a CAGR of 10.1% from 2020 to 2027. Lateral fitness equipment is any machine or device required for physical exercise to manage overall weight, improve physical stamina, and develop muscular strength. Lateral fitness equipment market demand has increased globally, due to increase in health awareness. In addition, physical exercise is advised during certain medical treatments.
The most commonly used lateral fitness equipment include treadmills, elliptical, stationary bicycles weightlifting machines & strength building machines, and others. Increase in health awareness and rise in need for active, healthy lifestyle across the world majorly boost the growth of the lateral fitness equipment market. Sedentary lifestyle and changes in eating habits have led to increase in health risks. Therefore, increase in awareness toward regular physical activities to maintain healthy lifestyle fuels the growth of the lateral fitness equipment market.
Request for sample :- https://www.alliedmarketresearch.com/request-sample/6546
Moreover, availability of smart gym equipment has made the lateral fitness exercises interesting and entertaining. Smart gym equipment is a type of equipment that is connected to an app that records workouts and also displays the data about workout. These connected gym equipment are linked to the internet and record all data such as workout goals, nutritional habits, and health history through cloud based data. This data helps in creating a personalized exercise plan and also track the workout. Furthermore, implementation of technologies like IoT and AI in lateral fitness equipment help connect the machines with smartphone, which also augment the growth of lateral fitness equipment market. In addition, treadmills, elliptical, and stationary bikes are the most popular high-tech lateral fitness machines owing to the presence of television screens, Bluetooth connectivity, iPod compatibility, sound system, CSAFE connectivity and other features. Thus, increase in implementation of high-tech features is anticipated to provide lucrative lateral fitness equipment market opportunity and eventually increase its customer base.
The number of social media users has increased considerably with rise in internet penetration. Taking this into consideration, most of the key players in the lateral fitness equipment market strategize on promoting their products and services on these social media platforms. Social media marketing is one of the major strategies adopted by various companies and industries on imparting awareness about their product offerings among the target customers on social media channels. Thus, through social media marketing strategy, the global lateral fitness equipment market sights critical opportunity in gaining traction and increasing its customer reach among its target segments.
Request For Customization :- https://www.alliedmarketresearch.com/request-for-customization/6546
However, high price of lateral fitness equipment leads to increase in demand of reused fitness equipment, which limits the market growth. To reduce cost, new start-up gyms and fitness centers as well as in-house arrangements prefer the use of resale products. This trend is observed especially in the developing countries where small gyms procure used equipment from large gyms and fitness centers. This results in equipment failure within a short span of time, thereby disappointing their potential members. Moreover, it hampers the sale of new lateral fitness equipment, which in turn restrains the growth of the global market.
Key Findings Of The Study
- Dependingon type, the treadmill segment dominated the market in 2019, and is expected to retain its dominance throughout the forecast period.
- By body type, the lower bodysegment accounted for highest share in the lateral fitness equipment market growth in 2019, and is projected to grow at a CAGR of 10.1% from 2020 to 2027.
- On the basis of end user, the health club/gym segment led the market demand in 2019, and is expected to retain its dominance throughout the forecast period.
- As per distribution channel, the offline segment was the major shareholder in 2019, and is projected to register a CAGR of 10.1% from 2020 to 2027.
- Region wise, North America accounted for highest lateral fitness equipment market share in 2019 and is expected to grow at a CAGR of8.6%.
BUY NOW :- https://www.alliedmarketresearch.com/checkout-final/75824ecf7eb942810cfea4ebbc00826d
The key players operating in the lateral fitness equipmen tindustry analysis includesICON Health & Fitness, Inc., Johnson Health Tech Co., Ltd., TECHNOGYM S.P.A., Amer Sports Corporation, Nautilus, Inc., Core Health & Fitness, LLC., True Fitness Technology, Inc., Impulse (Qingdao) Health Tech Ltd. Co., and Cybex International Inc.
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn |