Fitness equipment refers to any gear or item used for physical activity in order to manage overall weight, enhance physical stamina, and build muscular strength. Global demand for workout equipment has increased as health awareness has grown. In addition, physical activity is recommended during certain medical treatments. Treadmills, ellipticals, stationary bicycles, weightlifting machines and strength development machines are among the most popular types of fitness equipment.
Turkey Fitness Equipment Market Driving Factors and Challenges
Turkey Health and Fitness Centres is predicted to see enormous increases in home-workout equipment, with the online fitness industry rising at a double-digit CAGR and accounting for the majority of revenue share in the forecasted year. The rising affluence of the middle class, which is improving their consumer lifestyle to include luxury services, will push hotels, residential complexes, and townships to add exercise centres into their properties. The Turkish fitness industry has grown dramatically over the previous decade, with various fitness centre chains establishing a strong market presence throughout the country. It is distinguished by a large proportion of parttime employment, with the majority of employees working on a casual or part-time basis. Popular medium-sized fitness centres dominate the market, with hotel and residential fitness centres gaining importance over time.
However, Turkey faces numerous healthcare difficulties as a result of its sedentary lifestyle, including ischemic heart disease, diabetes, obesity, and mental illness. Furthermore, the spike in digital fitness during lockdowns brought structure, community, and health benefits, but its long-term viability is called into doubt once restrictions loosen. However, customers now anticipate hybrid fitness options. Gyms that provide online training are viewed as more accessible, given members' heightened price sensitivity. As gyms shift to online and studio formats, competition heats up, with customers prioritising value over price or quality. High exercise equipment prices, particularly in underdeveloped countries, stifle growth. Technological improvements in high-tech equipment and wearables lead to cost rises due to enhanced features such better displays, power efficiency, critical tracking, wireless connectivity, and software upgrades, indicating greater demand for fitness healthcare.
Impact of COVID-19 on Turkey Fitness Equipment Market
The fitness market has an impact on various industries such as fitness services, construction, real estate, clothes & footwear, and technology. The outbreak of COVID 19 has resulted in an increase in the number of people working out at home to avoid infection, boosting the development of in-home fitness equipment. Consumers' preferences for home fitness equipment have evolved as a result of growing worries about COVID-19.
Turkey 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 such as; Ajan Elektronik, Evofit, FORM Fitness, Hedef Spor, Inceleme Sport Equipment, Technogym Turkey, Titan Fitness, Türk Lider Fitness, Turuncu Fitness, Others.
Turkey Fitness Equipment Market Segmentation:
By Type: Based on the Type, Turkey Fitness Equipment Market is segmented as; Cardiovascular Training Equipment, Strength Training Equipment, Other Equipment.
By Application: Based on the Application, Turkey Fitness Equipment Market is segmented as; Health Club/Gym, Home Consumer, Other Commercial User.
By Region: This research also includes data for North, South, East, West.
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.