Persistence Market Research Reports Fitness Equipment Market

For more information ask for sample report @ https://www.persistencemarketresearch.com/samples/3069 Population across the globe is now aware of the various diseases caused by a sedentary lifestyle. Key players operating in the global fitness equipment market are coming out with new outlets and chains of fitness clubs and spas. This is likely to positively impact membership subscriptions, which will ultimately boost the growth of the fitness equipment market over the projected period in Europe. Increasing incidents of cardiovascular diseases, diabetes and osteoarthritis is a major concern now-a-days all over the world. According to the World Health Organization, cardiovascular diseases are one of the major causes of deaths. However, many organizations in Europe are promoting a healthy lifestyle through sports. As a result, an increasing number of individuals are actively engaging in physical activities such as signing up for workout programs and packages, or just exercising independently. This is driving the growth of the fitness equipment market in Europe. With economies growing rapidly, the retail chain is also expected to exhibit substantial revenue growth over the forecast period. As a substantial percentage of the total revenue from sales of fitness equipment comes from the organized retail chain, the growth of the fitness equipment market in Europe is anticipated to develop at a higher rate. Global Fitness Equipment Market Expected to Witness a Sluggish Growth through 2024 According to PMR’s Report, the global fitness equipment market is projected to register a sluggish growth at 3% CAGR during 2016 to 2024, in terms of volume. In 2016, 13,812,312 units of fitness equipment were sold across the globe, and by 2024, the sales of fitness equipment are expected to reach 17,548,158 units. Developing economies such as China, India, Mexico, and others have shown weak aftersales services for fitness equipment. In addition, fitness equipment requires huge maintenance costs, which is impeding the growth of the global fitness equipment market. There is a difficulty in procuring parts/components utilized for fitness equipment such as heart rate grips, LED console, handle bars, tension knobs, motors, and so on, and most of these are complex to repair. This results in replacement of the whole unit, increasing overall maintenance costs. These factors are estimated to restrain the market growth in the near future. At present, people are inclining towards exercises such as dancing, aerobics, Pilates, and yoga which require minimal use of fitness equipment. This has made fitness clubs to buy less equipment and provide more & more open spaces. This is further expected to hinder the growth of the global fitness equipment market. The expert analyst team has also estimated approximate annual consumption of end-use sectors in target geographies. The analysts have observed that in the global fitness equipment market, key players are focusing on providing smart fitness equipment that can connect and share workout data to wearable devices and fitness apps. The analysts have considered the following growth rate projections and forecast factors affecting the global fitness equipment market.         Historical demand trends Fitness equipment growth rate Financial performance of top five companies Macro-economic indicators such as GDP and population data Raw material production trends Raw material trade Influence of increasing disposable income Raw material price trends

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