Zion Market Research has published a new report titled “Fitness Equipment Market by Equipment Type (Cardio-Respiratory Equipment, Muscular Equipment, Flexibility Equipment, Body Fatness Equipment and Others) for Hospital, Gym Centers/Health Clubs, Homecare and Others – Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021’’. According to the report, the global fitness equipment market accounted for around USD 10.00 billion in 2015 and is expected to reach approximately USD 12.50 billion by 2021, growing at a CAGR of around 4.0% between 2016 and 2021.
Rising geriatric population is accelerating the growth of fitness equipment market. Currently, more than 900 million people are aged 60 or above and it is projected to rise to around 1.40 billion by 2030. Among this population, approximately 65% of older people currently live in developing countries. Moreover, rising obese population is also continuously responsible for the growth of fitness equipment market. In 2014, more than 1.90 billion people were overweight and out of these around 600 million were obese. In addition, increasing health consciousness among children’s and adult people is major driving factor for the growth of fitness equipment market. However, high cost of equipment may hamper the growth of fitness equipment market. Nonetheless, untapped market and increasing health awareness programs may generate new opportunities in forecast period.
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