April 06, 2021
According to the research report titled ‘North America Fitness Equipment Market Size By End Use, Equipment, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report, North America fitness equipment market valuation to exceed USD 6 billion by the end of the forecast period 2020-2026.
Increasing adoption of digitally connected gym equipment, and emergence of immersive workout experiences facilitated by advanced technologies such as Cloud, AI, and wearables are fueling North America fitness equipment market growth, cites the study.
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Speaking of the Covid-19 impact, the pandemic has significantly impacted the industry progression due to temporary closure of health clubs and gyms. Moreover, restrictions on movement of goods has further affected the demand of fitness machines. However, gradual reopening of gyms together will steadily improve the business landscape. In addition, heightened awareness regarding health & immunity amid this health crisis will boost product demand from fitness enthusiasts working out from home.
Based on equipment, North America fitness equipment market from strength training equipment segment is set to grow considerably over the forecast duration, creditable to growing demand for equipment that aid in improving bone health and joint flexibility. Moreover, this also helps in reducing the risk of fractures and arthritis.
Considering the end-user spectrum, corporate segment is set to amass substantial gains in the upcoming years, creditable to growing efforts of organizations towards ensuring employee well-being and enhancing productivity. In fact, big companies like Google, Microsoft, and Intel are incorporating gyms in their premises with well-equipped fitness centers.
From a geographical standpoint, North America fitness equipment market is fragmented into United States and Canada. Among these, U.S. market is anticipated to accrue tremendous gains in the upcoming years, chiefly on the back of rising number of health club memberships in the U.S. In fact, International Health, Racquet & Sportsclub Association (IHRSA) states that gym memberships in the nation crossed 62 million in 2018, representing an increase of 2.6% from 2017. Moreover, discounts on memberships by several fitness centers for maintaining long-term contracts with both new and existing customers is enhancing the overall industry outlook.
Speaking of the competitive landscape, top players in North America fitness equipment market sphere are True Fitness Technology, Inc., Torque Fitness, Amer Sports Oyj, Technogym S.p.A., Nautilus, Inc., Johnson Health Tech. Co., Ltd., Fitness Em, LLC, Icon Health & Fitness, Inc.