DUBLIN, May 23, 2022 /PRNewswire/ — The “Physical Fitness Equipment – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Physical Fitness Equipment Market to Reach $19.4 Billion by 2027
Amid the COVID-19 crisis, the global market for Physical Fitness Equipment estimated at US$13.5 Billion in the year 2020, is projected to reach a revised size of US$19.4 Billion by 2027, growing at a CAGR of 5.3% over the analysis period 2020-2027. Cardiovascular Training, one of the segments analyzed in the report, is projected to record a 5.7% CAGR and reach US$11 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Strength Training segment is readjusted to a revised 5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4.5 Billion, While China is Forecast to Grow at a 7.3% CAGR
The Physical Fitness Equipment market in the U.S. is estimated at US$4.5 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.2 Billion by the year 2027 trailing a CAGR of 7.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 4.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.
Other Equipment Types Segment to Record 4.2% CAGR
In the global Other Equipment Types segment, USA, Canada, Japan, China and Europe will drive the 3.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$652.7 Million in the year 2020 will reach a projected size of US$852 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.5 Billion by the year 2027, while Latin America will expand at a 5.4% CAGR through the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Impact on Fitness Sector
- Demand for Home Fitness Equipment Soars Amidst COVID-19 Pandemic
- Fitness Routine Changes of People as A Result of COVID-19
- Commercial Fitness Equipment Takes a Hit as Gyms Face Hardships
- UK Gym and Fitness Club Memberships in Million (2014: 2020E)
- Physical Fitness Equipment – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/…….