24 Jun 2020
Scope of Global Fitness Equipment Industry Reports-
Fitness equipment can be defined as any apparatus used at the time of physical activity to improve body strength. Fitness equipment includes products such as weightlifting machines, treadmills, stationary bikes, and others for physical exercise and are precisely used in a fitness club, home, hotels, gym, and corporate offices. These equipment help in maintaining weight, reduce excessive fat and improve stamina. Fitness equipment may also comprise wearable accessories such as footgear, gloves and hydration packs. It is basically segmented in to two basic areas such as aerobic or cardio fitness equipment, designed to give a user a fitness workout to burn off calories and lose weight and strength/muscular fitness equipment tone bodies muscles.
Global Fitness Equipment Industry Market is valued at USD 11.139 billion in 2019 and expected to reach USD 14.384 billion by 2026 with the CAGR of 3.72% over the forecast period.
Global Fitness Equipment Industry Dynamics
Technological development in fitness sector, increasing consumer awareness about fitness & improvement in personality, increasing facilities given and promotions done by employers as well as insurers to their employees in terms of staying healthy as well as growing disposal income are driving the market of fitness equipment. For instance, the internet have made it possible for the people to create gym facilities in their home due to easy availability of information which helps them in developing custom made fitness solution which have greatly improve the market as more people are using these equipment as they do not want to go to gyms. Functional fitness is another factor which drives the market as it provides the benefit of achieving body transformation anywhere. This requires minimal equipment and guided experience by digital platform. Integration of fitness equipment with new technology such as AI and machine learning along with innovation of various fitness monitoring devices has greatly helped the customers to fitness equipment industry as well as gyms. For example, an AI program created by Asensei company, puts sensor in client’s workout cloths to monitor movements. It can provide highly specific instructions on how to move body and at present it works for yoga and rowing. Such types of innovation is creating opportunities for fitness equipment market to broaden its horizon from traditional gym facilities to the consumer oriented market.
Recent Development- Technogym becomes IRONMAN’s Official Global Fitness Equipment Partner.
01 April 2020
IRONMAN Group has declared Technogym as its official global fitness equipment Partner. The partnership will start work with the recently announced IRONMAN Virtual Racing (VR) Series.
The IRONMAN VR Series will be provided through the IRONMAN Virtual Club. This is an innovative web-based platform that permits athletes to train and compete from anywhere around the world, while providing earning activity-based points and engaging with the community.
The partnership will also comprise Technogym’s participation with the 2020 IRONMAN World Championship in Kailua-Kona, Hawai, along woth the 2020 IRONMAN 70.3 World Championship in Taup?, New Zealand, scheduled for October and November, respectively.
With the new partnership, IRONMAN athletes will obtain unique access to Technogym’s range of treadmills, smart trainers, exercise bikes, group cycling bikes, rowers, wellness tools and upper body trainers.
Over 50 million people globally seemingly train with Technogym equipment daily. established in 1983 in Cesena, Italy, Technogym has become a leader in cardio, strength and functional equipment. The company has been an official supplier to the previous seven Olympic Games and has been selected for the next Olympic Games in Tokyo as well.
Recent Fitness Equipment Industry Trends 2020
Fitness Equipment Industry Trends 1- Training with free weights
free weight training was trending in 2019 and is continuing to be a trend in 2020 as these instruments are both used by professionals and unprofessional customers. Free weights such as barbells, kettlebells, dumbbells, and medicine ball are in demand among young customers as they are more aware about their health. Instructors begin by teaching proper form for each free training equipment and then progressively increase the resistance once the correct form is accomplished.
Fitness Equipment Industry Trends 2- High-tech fitness at home
It is not only studios & gyms that are upgrading to the high-tech treatment; people are expected to increasingly upgrade their at-home workouts in 2020, too. When considering home fitness, the first think comes to mind are treadmills and elliptical machines, but the future of home exercising is much more than this. Working out at home in 2020 will be more creative and exciting than ever due to rapid technological development in IT sector. Smart technology is now making fitness equipment smarter by incorporating technology such as machine learning and Artificial Intelligence, by which a range of fitness equipment are coming to market such as intelligent rowing machines and weightlifting systems, full-length fitness mirror that works as a personal trainer etc.
Fitness Equipment Industry Trends 3-Functional fitness training
This is a trend which helps in using strength training to enhance balance, coordination, muscular strength, and endurance to improve activities of daily living generally for older adults but also in clinical populations. Functional training mainly works on movements that work the muscles a human being uses most for everyday tasks. Functional training comprises many different movements such as pulling, lifting and squatting and the demand of necessary equipment for functional training is also increasing. The aim of functional training is to control the body in the best possible way and to develop a positive body feeling. This trend is a predominantly important type of training for older adults and it ensures a more long-term, injury-free, health, and fitness plan.
Fitness Equipment Industry Trends 4- Body Weight Training
Body weight training mainly uses minimal equipment, making it more affordable. Not limited to just push-ups and pull-ups, this trend enables people to get back to the basics with fitness. Scalable deployment methods with minimal equipment is making it more popular among customers. Body weight training is an inexpensive way to exercise due to uses of minimal equipment which helps the fitness equipment market to focus on innovating new modular equipment which can be taken to anywhere.
Fitness Equipment Industry Trends 5- Personal training
One-on-one training remains to be a trend as the profession of personal training becomes more accessible online, in health clubs, in the home, and in worksites that have fitness facilities. Due to easy availability of personal trainer, now customers are making their own gym inside their home which also boosts the sale of fitness equipment. Personal training comprises fitness testing and goal setting with the trainer working individually with a client to prescribe workouts specific to clients. This trend is helping in expansion of the fitness equipment market in 2020.
Fitness Equipment Industry Trends 6- Wearable technology
Wearable technology is one of the main trends as it is directly affecting the fitness equipment market in a positive way, which includes products such as fitness trackers, smart watches, HR monitors, and GPS tracking devices. Some of the branded wearable devices include fitness and activity trackers like those manufactured by Fitbit, Samsung Gear Fit2, Misfit, Garmin, and Apple. These devices help in tracking HR, calories, sitting time, and much more. All these devices generate interest among consumers on trying to use it in gyms and by doing exercises which also indirectly helps the fitness equipment market.