South Korea Fitness Equipment Market Growth, Size, Trends, Share, Demand and Future Outlook
South Korea Fitness Equipment Market Size- By Product, By Application, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jul-2024 | Report ID: MACH2430 | Pages: 1 - 109 | Formats*: |
| Category : Equipment and Machinery | |||
South Korea Fitness Equipment Market Introduction and Overview
According to SPER Market Research, the South Korea Fitness Equipment Market is estimated to reach USD 173.42 million by 2033 with a CAGR of 9.21%.
The report includes an in-depth analysis of the South Korea Fitness Equipment Market, including market size and trends, product mix, applications, and supplier analysis. The term "fitness equipment" describes specific tools, apparatuses, and equipments intended for cardiovascular conditioning, strength training, physical activity, and general fitness improvement. These equipment types are very diverse and include resistance bands, yoga mats, treadmills, elliptical trainers, stationary bikes, weight machines, and free weights. They serve a range of training objectives and skill levels and are utilized in a variety of locations, including as homes, fitness centers, gyms, and outdoor areas. In order to create engaging and customized training experiences, modern fitness equipment frequently integrates cutting-edge technology like artificial intelligence (AI), virtual reality (VR), and internet connectivity. The growing popularity of at-home workout options, rising health consciousness, and technical developments are propelling the fitness equipment market's ongoing innovation.
- May 2024; In large cities like Seoul and Busan, the idea of smart gyms—equipped with the newest training technology and interactive equipment—has grown. These gyms draw tech-savvy exercise lovers by seamlessly integrating technology and fitness for its members.
- April 2024; South Korean producers of fitness equipment have begun working with digital behemoths like Samsung and Naver to include cutting-edge technologies like augmented reality (AR) and virtual reality (VR) into their goods. The goal of these partnerships is to offer engaging and dynamic exercise experiences.
Market Opportunities and Challenges
Opportunities- The demand for outdoor fitness equipment is rising as people become more conscious of the benefits of physical activity for their health and well-being and as a simple and easily available means of exercising and having fun. In South Korea, government-led programs to battle obesity, advance public health, and foster active communities are pushing investments in outdoor workout facilities and infrastructure. Furthermore Cities and metropolitan areas are seeing rapid urbanization and population increase, which is driving up demand for outdoor leisure facilities like playgrounds and parks with fitness equipment.
Challenges- The market for outdoor fitness equipment is challenged by competition from indoor fitness facilities including gyms, health clubs, and sports centers. This is due to customers may choose the convenience and amenities provided by indoor venues, particularly in bad weather or during the colder months. Investments in outdoor fitness equipment and infrastructure may be restricted by budgetary restraints among local governments, park authorities, and community organizations. This could impede the growth and spread of the outdoor fitness sector in specific areas or towns. Moreover, the upkeep needs and safety issues related to outdoor fitness equipment, such as damage, theft, and potential injuries, could discourage the purchase and placement of the equipment in public areas.
Market Competitive Landscape
The South Korea Fitness Equipment Market is a highly competitive arena due to the presence of multiple global and regional companies in the competitive environment. Leading companies in the industry are Coulter Ventures LLC (Rogue Fitness), Icon Health & Fitness, Inc. (iFIT Health & Fitness Inc.), Johnson Health Tech Co. Ltd., Life Fitness, Matrix Fitness, Nautilus Inc., Peloton Interactive, Inc., Precor Incorporated, Technogym SpA, True Fitness Technology Inc.
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 Product, By Application, By End User |
| Regions covered | Northern Region, Southern Region, Western Region, Eastern Region, Central Region |
| Companies Covered | Coulter Ventures LLC (Rogue Fitness), Icon Health & Fitness, Inc. (iFIT Health & Fitness Inc.), Johnson Health Tech Co. Ltd., Life Fitness, Matrix Fitness, Nautilus Inc., Peloton Interactive, Inc., Precor Incorporated, Technogym SpA, True Fitness Technology Inc. |
COVID-19 Impact on South Korea Fitness Equipment Market
With the epidemic, people are using outdoor fitness equipment more frequently as a convenient and safe way to keep active Due to the increasing knowledge of the benefits of outdoor exercise for both physical and mental health. Investments in parks, green spaces, and recreational facilities with fitness equipment were spurred by the pandemic's trend toward outdoor activities and open air environments. This was done to meet the increased demand for outdoor exercise options. Manufacturers and operators of outdoor workout equipment put in place health and safety protocols.
Key Target Audience:
- Gym and Fitness Center Owners
- Health Clubs and Wellness Centers
- Corporate Fitness Programs
- Home Fitness Enthusiasts
- Personal Trainers and Fitness Coaches
- Sports Teams and Athletic Organizations
Our in-depth analysis of the South Korea Fitness Equipment Market includes the following segments:
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| By Application: |
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Key Topics Covered in the Report:
- South Korea Fitness Equipment Market Size (FY’2024-FY’2033)
- Overview of South Korea Fitness Equipment Market
- Segmentation of South Korea Fitness Equipment Market by Product (Strength Training Equipment, Cardiovascular Training Equipment, Body Composition Analysers, Fitness Monitoring Equipment)
- Segmentation of South Korea Fitness Equipment Market by Application (Weight Loss, Body Building, Physical Fitness, Mental Fitness)
- Segmentation of South Korea Fitness Equipment Market by End User (Health Clubs/Gyms, Home Consumer, Hotels, Corporates, Hospital and Medical Centers, Others)
- Statistical Snap of South Korea Fitness Equipment Market
- Expansion Analysis of South Korea Fitness Equipment Market
- Problems and Obstacles in South Korea Fitness Equipment Market
- Competitive Landscape in the South Korea Fitness Equipment Market
- Impact of COVID-19 and Demonetization on South Korea Fitness Equipment Market
- Details on Current Investment in South Korea Fitness Equipment Market
- Competitive Analysis of South Korea Fitness Equipment Market
- Prominent Players in the South Korea Fitness Equipment Market
- SWOT Analysis of South Korea Fitness Equipment Market
- South Korea Fitness Equipment Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the South Korea Fitness Equipment Market.
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. South Korea Fitness Equipment Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in South Korea Fitness Equipment Market
7. South Korea Fitness Equipment Market, By Product (USD Million) 2020-2033
7.1. South Korea Fitness Equipment Market Size, Share and Forecast, By Product, 2020-20267.2. South Korea Fitness Equipment Market Size, Share and Forecast, By Product, 2027-20337.3. Strength Training Equipment7.4. Cardiovascular Training Equipment7.5. Body Composition Analysers7.6. Fitness Monitoring Equipment7.7. Others
8. South Korea Fitness Equipment Market, By Application (USD Million) 2020-2033
8.1. South Korea Fitness Equipment Market Size, Share and Forecast, By Application, 2020-20268.2. South Korea Fitness Equipment Market Size, Share and Forecast, By Application, 2027-20338.3. Weight Loss8.4. Body Building8.5. Physical Fitness8.6. Mental Fitness
9. South Korea Fitness Equipment Market, By End User (USD Million) 2020-2033
9.1. South Korea Fitness Equipment Market Size, Share and Forecast, By End User, 2020-20269.2. South Korea Fitness Equipment Market Size, Share and Forecast, By End User, 2027-20339.3. Health Clubs/Gyms9.4. Home Consumer9.5. Hotels9.6. Corporates9.7. Hospital and Medical Centers9.8. Others
10. South Korea Fitness Equipment Market Forecast, 2020-2033 (USD Million)
10.1. South Korea Fitness Equipment Market Size and Market Share
11. South Korea Fitness Equipment Market, By Region, 2020-2033 (USD Million)
11.1. South Korea Fitness Equipment Market Size and Market Share By Region (2020-2026)11.2. South Korea Fitness Equipment Market Size and Market Share By Region (2027-2033)11.3. Northern Region11.4. Southern Region11.5. Western Region11.6. Eastern Region11.7. Southern Region
12. Company Profile
12.1. COULTER VENTURES LLC12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments12.2. ICON HEALTH AND FITNESS, INC12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments12.3. JOHNSON HEALTH TECH CO. LTD12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments12.4. LIFE FITNESS12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments12.5. MATRIX FITNESS12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments12.6. NAUTILUS INC.12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments12.7. PELOTON INTERACTIVE, INC.12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments12.8. PRECOR INCORPORATED12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments12.9. TECHNOGYM SPA12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments12.10. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
South Korea Fitness Equipment Market is projected to reach USD 173.42 million by 2033, growing at a CAGR of 9.21% during the forecast period.
South Korea Fitness Equipment Market grew in Market size from 2024. The Market is expected to reach USD 173.42 million by 2033, at a CAGR of 9.21% during the forecast period.
South Korea Fitness Equipment Market CAGR of 9.21% during the forecast period.
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South Korea Fitness Equipment Market size is USD 173.42 million from 2024 to 2033.
South Korea Fitness Equipment Market is covered By Product, By Application, By End User
The Asia Pacific is anticipated to have the highest Market share in the South Korea Fitness Equipment Market.
The key players in the Market include Companies Covered Coulter Ventures LLC (Rogue Fitness), Icon Health & Fitness, Inc. (iFIT Health & Fitness Inc.), Johnson Health Tech Co. Ltd., Life Fitness, Matrix Fitness, Nautilus Inc., Peloton Interactive, Inc., Precor Incorporated, Technogym SpA, True Fitness Technology Inc.
The high cost of advanced diabetes drugs and the financial burden of treating diabetes remain major obstacles to market growth, despite the fact that numerous drugs have been approved for the condition and that governments and industry players are launching numerous initiatives.
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