Fitness equipment includes tools for performing exercises. Stair climbers, weightlifting machines, treadmills, and stationary bicycles are common pieces of equipment in the Asia-Pacific fitness equipment market. All of these gadgets are meant to be used for different types of physical activity and healthcare. For example, cardiovascular equipment such as treadmills and stair climbers can help with weight management and endurance. On the other hand, strength training equipment is helpful for building muscle.
Asia-Pacific Fitness Equipment Market Driving Factors and Challenges
Drivers: An Increase in the Number of Participants in Physical Competitions
Exercise helps prevent and treat non-communicable diseases like diabetes, cancer, and cardiovascular disease. Physical activity has major positive effects on one's heart, body, and mind. People all over the world can now compete in tournaments using the results of their hard fitness training, and they can also test their skills at different functional fitness events. Competitions for various fitness activities are available, including cross-fit, bodybuilding, long distance running, powerlifting, and fun runs. Numerous businesses and fitness associations have seized the opportunity to plan a range of outdoor events and fitness contests. Men were more likely to participate (20.7%) than women (18%). Sports, physical activity, and other active leisure pursuits fell under this category.
Challenges: As more and more people grow accepted to digital fitness, the industry has found its salvation. Lockdown restrictions are likely to loosen, which will slow the current surge in digital fitness. Thanks to online training during the lockdown, people had communication, structure, fitness, and a sense of community. They kept people's health intact. Since customers expect hybrid offerings in the future, they will always require online training. Online training makes a gym more accessible to its members, though many eventually return to their traditional studio routines. The availability of a wide range of fitness options at competitive prices online has made gym patrons more cost conscious. Additionally, as fitness facilities and studios prepare to enter the online market, competition is fierce. These factors hampered the market growth.
Impact of COVID-19 on Asia-Pacific Fitness Equipment Market
The COVID-19 pandemic has been extremely beneficial to the fitness equipment industry. Two new laws and policies brought about by the pandemic to stop the virus from spreading are lockdowns and social distancing. Because of this, people were forced to stay at home, which led to the emergence of new trends like working from home. Because at-home workouts are becoming more and more popular, there has been an increase in demand for exercise equipment during the pandemic. Since the pandemic, there has been a discernible surge in the use of fitness applications and platforms because of the increased emphasis on exercise, self-care, and overall health.
Asia-Pacific Fitness Equipment Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; Amer Sports Corporation, Impulse Health Tech Ltd. Co., Shuhua Co. Ltd., Nautilus Inc., Technogym SpA, Brunswick Corporation, ICON Health & Fitness Ltd., Konami Kabushiki Kaisha(Konami Corporation), Johnson HealthTech Ltd., Cybex International Inc.
Asia-Pacific Fitness Equipment Market Segmentation:
By Type: Based on the Type, Asia-Pacific Fitness Equipment Market is segmented as; Cardiovascular Training Equipment, Strength Training Equipment, Others.
By User: Based on the User, Asia-Pacific Fitness Equipment Market is segmented as; Home/Individual Usage, Health Clubs/ Gyms, Others
By Region: This research also includes data for China, India, Japan, South Korea, Australia and New Zealand, Indonesia, Thailand, Malaysia, Vietnam, Philippines, Singapore, Rest of Asia-Pacific.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.