Asia: Market for Gym and Fitness Equipment 2023

Market Size for Gym and Fitness Equipment in Asia

In 2021, after three years of growth, there was significant decline in the Asian gym and fitness equipment market, when its value decreased by -11.9% to $X. In general, consumption enjoyed prominent growth. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Production of Gym and Fitness Equipment in Asia

In value terms, gym and fitness equipment production reduced rapidly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a buoyant increase. The growth pace was the most rapid in 2020 when the production volume increased by 79% against the previous year. As a result, production attained the peak level of $X, and then reduced notably in the following year.

Exports of Gym and Fitness Equipment

Exports in Asia

In 2021, shipments abroad of gym and fitness equipment increased by 27% to X tons, rising for the fifth consecutive year after two years of decline. Over the period under review, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 158%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, gym and fitness equipment exports skyrocketed to $X in 2021. In general, exports posted a remarkable increase. The pace of growth was the most pronounced in 2020 when exports increased by 72%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

China prevails in exports structure, recording X tons, which was approx. 92% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X tons), constituting a 6.9% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to gym and fitness equipment exports from China stood at +11.6%. At the same time, Taiwan (Chinese) (+13.3%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia, with a CAGR of +13.3% from 2012-2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest gym and fitness equipment supplier in Asia, comprising 82% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +13.4%.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, increasing by 7.4% against the previous year. In general, the export price posted a mild expansion. The growth pace was the most rapid in 2016 an increase of 138% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.5%).

Imports of Gym and Fitness Equipment

Imports in Asia

In 2021, supplies from abroad of gym and fitness equipment increased by 15% to X tons, rising for the fifth year in a row after two years of decline. Overall, imports posted a buoyant increase. The growth pace was the most rapid in 2020 with an increase of 41% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, gym and fitness equipment imports soared to $X in 2021. Over the period under review, imports showed a prominent expansion. The growth pace was the most rapid in 2020 when imports increased by 24% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

South Korea (X tons), Japan (X tons), Taiwan (Chinese) (X tons), India (X tons), Malaysia (X tons), Vietnam (X tons), Thailand (X tons), Saudi Arabia (X tons), Indonesia (X tons) and the United Arab Emirates (X tons) represented roughly 80% of total imports in 2021.

From 2012 to 2021, the biggest increases were in India (with a CAGR of +27.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Japan ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of imports in 2021, with a combined 37% share of total imports. These countries were followed by Vietnam, India, the United Arab Emirates, Malaysia, Saudi Arabia, Thailand and Indonesia, which together accounted for a further 35%.

In terms of the main importing countries, Vietnam, with a CAGR of +31.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, with an increase of 4.3% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 5.5% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+3.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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