Webinar: Global Gym and Fitness Equipment Market - Statistics, Trends, and Outlook
Join our live webinar to get insights into the global gym and fitness equipment market.
We are hosting a 40-minute live webinar on the global gym and fitness equipment market.
Join us to get the main macroeconomic statistics around the production and trade, and talk over the challenges of coronavirus and the nearest future of the market.
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Gym and fitness equipment features several main uses: private home use for personal training, fitness club equipment for commercial use, professional and amateur sports club equipment, and government and non-government agencies and organizations.
Accordingly, the key fundamental drivers of the demand are, on the one hand, the growth of the population and its income, as well as the trend towards the popularization of a healthy lifestyle. On the other hand, the overall economic growth in the EU and the growth of public and private investments also contribute to the growth in demand.
If these trends continue, the gradual growth of the gym and fitness equipment market could be expected to retain. In early 2020, however, the global economy entered a period of the crisis caused by the outbreak of the COVID-19 pandemic. In order to battle the spread of the virus, most of the European countries implemented quarantine measures that put on halt production and transport activity, which undermined economic growth heavily.
Large-scale quarantine measures constitute the key disruptive factor, due to which production dropped across almost every industry and entire economic sectors are closed, such as catering, non-food retail, and personal services. This leads to an increase in unemployment, a decrease in household incomes, and, consequently, changes in consumer spending.
However, the impact of the crisis on the gym and fitness equipment market in Europe is not unequivocally negative, unlike many other markets. On the one hand, quarantine measures and the fear of infection make it much more difficult to visit commercial fitness clubs, which are deprived of funds to pay rent and loans.
On the other hand, the quarantine and remote work regime is causing a sharp increase in demand for fitness equipment for private use. Not being able to visit fitness clubs, many people keep training at home and therefore buy more equipment online with delivery. This suggests that the fundamental prerequisites for the market's return to growth persist even against the backdrop of the pandemic; however, the surge in the demand for home fitness equipment may turn to stagnation for a while when the pandemic wanes.
Based on these assumptions, a stagnation in market volumes is expected in 2020, but then the market is to begin to grow gradually. Should the pandemic wane, the market is expected to continue its upward trend due to the rising population (incl. immigrants) and stable demand for gym and fitness equipment. In the prospect of the upcoming decade, the performance of the market is forecast to continue moderate expansion, with an anticipated CAGR of +0.9% for the period from 2019 to 2030, which is projected to bring the market volume to $3.3B (in fixed 2019 prices) by the end of 2030.
Fitmanor specialises in supplying the best fitness equipment alongside unrivalled customer service, gym design and ongoing support. With a focus on creating healthy homes and workplaces, our turnkey concept gym in a box really is a total wellbeing solution.
Global Master Educator and business development
Technogym, the Wellness Company is a world leader in designing and manufacturing fitness equipment. We provide customized solutions to private homes, fitness clubs, hotels, spas, rehabilitation centers, corporate gyms, universities, professional sports facilities and more. Technogym embodies the philosophy of Wellness, which calls for a balanced lifestyle through regular exercise, healthy eating and a positive mental attitude.
Market Analyst, Editor
For over 10 years now, IndexBox has been conducting market research, completing consulting work, and selling reports.
Head Of Partnerships
FIT Summit is the Asia Pacific's Largest and Most Influential Fitness, Wellness, Corporate Wellness and Hospitality Network
General Manager & Founder
Concept Aryo Wellness was founded in January 2019. The concept relies on three pillars: 1) Personalized In-home and enterprise Personal Training 2)Design and Conception of Private Home Gyms with the collaboration of Technogym for my clientele. 3)Organisation of personalized Wellness Retreats in Mauritius with the collaboration of five star resorts on the island.
Multi Site General Manager | Internationally Experienced Fitness Club Operator
Gold’s Gym, a member of Al Ahli Holding Group in the UAE, is a worldwide fitness brand with 14 operating clubs across 10 locations in the UAE today. The company aims to establish 22 clubs operating across 14 locations in 2014.