Mexico Fitness Equipment Market Introduction and Overview
According to SPER Market Research, the Mexico Fitness Equipment Market is estimated to reach USD 75.18 million by 2033 with a CAGR of 9.37%.
The report includes an in-depth analysis of the Mexico Fitness Equipment Market, including market size and trends, product mix, applications, and supplier analysis. Fitness equipment refers to the equipment that is commonly used during physical or fitness-related activities. They contribute to increased strength and physical fitness. Fitness equipment typically includes things like stair steppers, stationary cycles, elliptical cross trainers, treadmills, weight machines, and free weights.
- In September 2022, Nautilus, Inc., a home fitness innovation leader, announced the release of the Bowflex BXT8J treadmill with JRNY adaptive fitness app compatibility at select online and in-store retail partners, giving clients with a comprehensive fitness solution at an affordable price point. The Bowflex BXT8J treadmill provides high-performance cardio and the ability to connect the user's device to the JRNY adaptive fitness software. This has enabled the corporation to broaden its product offerings.
- In February 2022, ICON Health and Fitness, Inc. (iFIT) introduced the NordicTrack Commercial X22i Incline Trainer, a treadmill based on iFit technology that allows consumers to run with certified trainers in beautiful locations around the world on a giant built-in flatscreen monitor.
Market Opportunities and Challenges
Opportunities:
Increasing Adoption of Smartphones, the Internet, and E-Commerce Platforms - The modern world depends on smartphones for communication, grocery shopping, medical consultations, and self-fitness awareness. A lot of individuals find it impossible to envisage their lives without smartphones. Instead of working out in gyms and fitness centres, people prefer to get healthy at home using comfortable methods. Therefore, by merely utilising their fitness app, users can receive a diet plan, exercise program, and other things. The fitness app serves as a bridge in this way. More people are using cellphones in their daily lives as a result of national technical progress and advancement.
Challenges:
High Cost of Fitness Equipment - Some workout equipment is quite expensive, particularly for middle and low-income people in emerging and underdeveloped countries, which limits expansion. High-tech exercise equipment and fitness wearable devices have seen price increases as technology has advanced. Incorporating several features such as high-quality displays, greater power efficiency, additional vitals tracking, wireless connectivity, and upgraded software, among others, directly increases the original cost of fitness equipment and devices. Consumers' adoption of wearable gadgets is increasing their spending on fitness healthcare. The demand for wearable gadgets rises as their application coverage expands, contributing to their high price.
Market Competitive Landscape
The market research report includes a thorough analysis of the competitive situation in the industry. The competitive landscape is examined in the research, along with market structure, main player positioning, top winning tactics, competitive dashboard, and firm assessment quadrant. All significant corporations have also been provided with complete bios. iFIT Health & Fitness Inc (iFIT), Technogym Spa, Nortus Fitness, and Planet Fitness Inc. are major participants in the sector.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By Price Point, By End User
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| Regions covered | North, South, East, West, Central
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| Companies Covered | Planet Fitness Inc, iFIT Health & Fitness Inc (iFIT), Nortus Fitness, Technogym Spa.
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COVID-19 Impact on Mexico Fitness Equipment Market
The COVID-19 epidemic had a significant positive impact on the fitness equipment industry. The pandemic has enforced new norms and rules, including as social separation and lockdowns, to prevent the virus from spreading. As a result, people all around the world were obliged to stay at home, sparking new trends like working from home. The growing popularity of home exercises has raised the demand for exercise equipment during the pandemic. The increased emphasis on self-care, exercise, and wellness has helped fitness applications and platforms acquire substantial popularity in the aftermath of the pandemic. Furthermore, the epidemic has prompted non-fitness aficionados to prioritise their health and fitness, which helps to develop traction.
Key Target Audience:
- Commercial Gyms and Fitness Centers
- Corporate Wellness Programs
- Hotels and Hospitality Sector
- Sports Clubs and Athletic Facilities
- Universities and Educational Institutions
- Home Fitness Enthusiasts (Residential Consumers)
- Government and Public Sector Gyms
- Retailers and Distributors
- Personal Trainers and Fitness Professionals
- Rehabilitation and Medical Centers
Our in-depth analysis of the Mexico Fitness Equipment Market includes the following segments:
| By Type: | Cardiovascular Training EquipmentTreadmillsStationary CyclesEllipticalOthersStrength Training EquipmentFree WeightsOthers |
| By Price Point: | StandardPremium/Luxury |
| By End User: | ResidentialCommercial |
Key Topics Covered in the Report:
- Mexico Fitness Equipment Market Size (FY’2024-FY’2033)
- Overview of Mexico Fitness Equipment Market
- Segmentation of Mexico Fitness Equipment Market by Type (Cardiovascular Training Equipment, Strength Training Equipment, and Others)
- Segmentation of Mexico Fitness Equipment Market by Price Point (Standard, Premium/Luxury)
- Segmentation Mexico Fitness Equipment Market by End User (Commercial, Residential)
- Statistical Snap of Mexico Fitness Equipment Market
- Expansion Analysis of Mexico Fitness Equipment Market
- Problems and Obstacles in Mexico Fitness Equipment Market
- Competitive Landscape in the Mexico Fitness Equipment Market
- Impact of COVID-19 and Demonetization on Mexico Fitness Equipment Market
- Details on Current Investment in Mexico Fitness Equipment Market
- Competitive Analysis of Mexico Fitness Equipment Market
- Prominent Players in the Mexico Fitness Equipment Market
- SWOT Analysis of Mexico Fitness Equipment Market
- Mexico Fitness Equipment Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Mexico Fitness Equipment Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Mexico Fitness Equipment Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Mexico Fitness Equipment Market
7. Mexico Fitness Equipment Market, By Type (USD Million) 2020-2033
7.1. Mexico Fitness Equipment Market Size, Share and Forecast, By Type, 2020-2026
7.2. Mexico Fitness Equipment Market Size, Share and Forecast, By Type, 2027-2033
7.3. Cardiovascular Training Equipment
7.3.1. Treadmills
7.3.2. Stationary Cycles
7.3.3. Elliptical
7.3.4. Others
7.4. Strength Training Equipment
7.4.1. Free Weights
7.4.2. Others
7.5. Others
8. Mexico Fitness Equipment Market, By Price Point (USD Million) 2020-2033
8.1. Mexico Fitness Equipment Market Size, Share and Forecast, By Price Point, 2020-2026
8.2. Mexico Fitness Equipment Market Size, Share and Forecast, By Price Point, 2027-2033
8.3. Standard
8.4. Premium/Luxury
9. Mexico Fitness Equipment Market, By End User (USD Million) 2020-2033
9.1. Mexico Fitness Equipment Market Size, Share and Forecast, By End User, 2020-2026
9.2. Mexico Fitness Equipment Market Size, Share and Forecast, By End User, 2027-2033
9.3. Residential
9.4. Commercial
10. Mexico Fitness Equipment Market Forecast, 2020-2033 (USD Million)
10.1. Mexico Fitness Equipment Market Size and Market Share
11. Mexico Fitness Equipment Market, By Region, 2020-2033 (USD Million)
11.1. Mexico Fitness Equipment Market Size and Market Share By Region (2020-2026)
11.2. Mexico Fitness Equipment Market Size and Market Share By Region (2027-2033)
11.3. North
11.4. South
11.5. East
11.6. West
11.7. Central
12. Company Profile
12.1. Planet Fitness Inc
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. iFIT Health & Fitness Inc (iFIT)
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. Nortus Fitness
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Technogym Spa
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Others
13 Conclusion
14 List of Abbreviations
15 Reference Links