Increasing adoption of fitness exercises significantly contributes to the growth of the fitness equipment industry across the European region. The obese population are the major users of cardiovascular equipment for weight management. In addition, increased awareness about fitness and its related health benefits drives the adoption of fitness equipment, especially through gym memberships and in-home equipment sales. Initiatives, such as corporate wellness programs, contribute to the growth of the fitness equipment market. Further, the number of fitness centers at super specialty hospitals have increased due to the supportive government measures to promote health awareness, thereby further supplementing the demand of fitness equipment. The trend of fitness equipment resales is quite evident, which is a major factor restricting the growth of the Europe fitness equipment market. However, increasing demand from health clubs would ensure the overall growth of the Europe fitness equipment market.
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According to a new report by Allied Market Research titled, Europe Fitness Equipment Market is expected to reach $3.7 billion by 2022, registering a CAGR of 3.0% during 2016 to 2022.
This report provides a comprehensive analysis of the leading players including competitive insight of the market and to understand their key growth strategies. The prominent players analyzed in this report include Amer Sports Corporation, Nautilus, Inc., Brunswick Corp., Johnson Health Tech Ltd., Cybex International, Inc., ICON Health & Fitness, Inc., Technogym SpA, Tuntari New Fitness B.V., Exigo, Kettler (GB) Limited, and Torque Fitness LLC. The operating players in the market have majorly adopted product launch and partnership strategies to sustain the stiff competition the market. The market growth can be attributed to innovative product launches and increasing collaborations between fitness equipment vendors and health clubs/gym owners. The need to improve the infrastructural offerings by gym owners considerably supplements the demand for fitness equipment.
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Cardiovascular and strength training equipment are two major types of fitness equipment. Cardiovascular equipment held nearly 55% of the market revenue in 2015 and would continue to dominate the market throughout the analysis period. As per the data released by Public Health England, two-third of adults in the U.K. were overweight or obese in 2013. Moreover, increasing obese population in the European countries, such as the U.K., Germany, France, and others, drives the adoption of fitness equipment, especially cardiovascular fitness equipment.
Fitness trackers & monitors have gained substantial market in countries such as the U.K. and France. Further, it is gradually gaining acceptance among people in other countries of Europe. Among the end user segments of fitness equipment, home/individual users significantly drive the growth of the market, favored by increasing adoption due to growing fitness consciousness, particularly in Germany and France. The geriatric population in Germany prefer exercising at home, which boosts the cardiovascular fitness equipment market within the home user segment.
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Key findings of the study:
- U.K. would continue to dominate the market, accounting for more than one-fifths of the market size in 2022.
- France is dominated by home users; on contrary, health club segment leads the market in Germany
- The cardiovascular equipment segment accounted for largest, i.e., more than 54% share of the market
- The adoption of fitness equipment by home users is estimated to grow at a CAGR of 4.3% during the forecast period
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