Vietnam Fitness Equipment Market Overview
According to SPER Market Research, the Vietnam Fitness Equipment Market is estimated to reach USD XX billion by 2032 with a CAGR of XX%.
The market for fitness equipment used in gyms, at-home workout facilities, and other settings is known as the Vietnam Fitness Equipment Market. Since the necessity of maintaining a healthy lifestyle and the appeal of fitness activities have become more widely recognised, the industry has experienced tremendous growth. The cardiovascular equipment, strength training equipment, and other equipment including yoga mats, resistance bands, and exercise balls are just a few of the segments that make up the Vietnam Fitness Equipment Market. Free weights, weight machines, and multi-gyms are used for strength training while treadmills, stationary bikes, and elliptical trainers are used for cardiovascular exercise.
A number of factors, such as rising disposable incomes, increased health consciousness among the populace, and the rising acceptance of fitness activities among young people, are driving the market for exercise equipment. The expansion of the fitness equipment market has also been aided by the rise in the number of gyms and fitness centres in Vietnam. Due to the presence of both domestic and foreign brands, the market is extremely competitive. Johnson Health Tech, ICON Health and Fitness, Technogym, and Life Fitness are a few of the market's key participants. These businesses provide a wide selection of fitness equipment at various price points to appeal to various market segments.
Impact of COVID-19 on the Vietnam Fitness Equipment Market
The market for fitness equipment in Vietnam has been significantly impacted by the COVID-19 pandemic. Fitness equipment for home use is more in demand now that gyms and fitness centres are closed during lockdowns. Manufacturers now have the chance to capitalise on the rising demand for home fitness equipment. More people are focusing their health and fitness thanks to the pandemic, which has also changed consumer behaviour. As a result, more attention has been paid to creating cutting-edge, inventive, and technologically sophisticated workout equipment that can be utilised at home. In addition to these difficulties, the pandemic has caused manufacturing delays and supply chain disruptions in the industry. The need for fitness equipment has been impacted by the closure of gyms and fitness centres, which has also reduced revenue for these companies.
The Vietnam Fitness Equipment Market has expanded despite the pandemic's difficulties. Manufacturers now have the chance to diversify their product lines and serve a wider consumer base thanks to the rising emphasis on health and fitness as well as the rising demand for home exercise equipment. In conclusion, the COVID-19 epidemic has affected the Vietnam fitness equipment market in both positive and negative ways. Notwithstanding the difficulties it has brought, the industry has seen chances for expansion and improvement. The capacity of manufacturers and fitness facilities to adjust to shifting consumer behaviour and market conditions will determine the pandemic's long-term effects on the market for fitness equipment.
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Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By End User, By Type.
|
| Regions covered | Da Nang, Hanoi, Ho Chi Minh City.
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| Companies Covered | Body Solid, Hoist Fitness Systems, Johnson Health Tech, Life Fitness, Matrix Fitness, Reebok Fitness, Technogym.
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Key Target Audience:
- Fitness enthusiasts
- Commercial gyms and fitness centers
- Hotels and resorts
- Rehabilitation centers
- Corporations
Vietnam Fitness Equipment Market Segmentation:
1. By End User:
- Health Clubs/Gyms
- Home Consumer
- Others
2. By Type:
- Cardiovascular Training Equipment
- Strength Training Equipment
- Others
3. By Region:
- Da Nang
- Hanoi
- Ho Chi Minh City
Key Topics Covered in the Report:
- Vietnam Fitness Equipment Market Size (FY’2019-FY’2032)
- Overview of Vietnam Fitness Equipment Market
- Segmentation of Vietnam Fitness Equipment Market By End User (Health Clubs/Gyms, Home Consumer, Others)
- Segmentation of Vietnam Fitness Equipment Market By Type (Cardiovascular Training Equipment, Strength Training Equipment, Others)
- Growth Analysis of Vietnam Fitness Equipment Market
- Problems and Challenges in Vietnam Fitness Equipment Market
- Competitive Landscape in the Vietnam Fitness Equipment Market
- Impact of COVID-19 and Demonetization on Vietnam Fitness Equipment Market
- Details on Recent Investment in Vietnam Fitness Equipment Market
- Competitive Analysis of Vietnam Fitness Equipment Market
- Key Players in the Vietnam Fitness Equipment Market
- Vietnam Fitness Equipment Market Future Outlook and Projections (FY’2019-FY’2032)
- 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 Vietnam Fitness Equipment Market
5. Market variables 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 analysis
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 Vietnam Fitness Equipment Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Vietnam Fitness Equipment Market
7. Vietnam Fitness Equipment Market, By End User, 2019-2032 (USD Million)
7.1 Health Clubs/Gyms
7.2 Home Consumer
7.3 Others
8. Vietnam Fitness Equipment Market, By Type, 2019-2032 (USD Million)
8.1 Cardiovascular Training Equipment
8.2 Strength Training Equipment
8.3 Others
9. Vietnam Fitness Equipment Market, By Region, 2019-2032 (USD Million)
9.1 Vietnam Fitness Equipment Size and Market Share by Region (2019-2025)
9.2 Vietnam Fitness Equipment Size and Market Share by Region (2026-2032)
9.3 Da Nang
9.4 Hanoi
9.5 Ho Chi Minh City
10. Company Profiles
10.1 Body Solid
10.1.1 Company details
10.1.2 Financial outlook
10.1.3 Product summary
10.1.4 Recent developments
10.2 Hoist Fitness Systems
10.2.1 Company details
10.2.2 Financial outlook
10.2.3 Product summary
10.2.4 Recent developments
10.3 Johnson Health Tech
10.3.1 Company details
10.3.2 Financial outlook
10.3.3 Product summary
10.3.4 Recent developments
10.4 Life Fitness
10.4.1 Company details
10.4.2 Financial outlook
10.4.3 Product summary
10.4.4 Recent developments
10.5 Matrix Fitness
10.5.1 Company details
10.5.2 Financial outlook
10.5.3 Product summary
10.5.4 Recent developments
10.6 Reebok Fitness
10.6.1 Company details
10.6.2 Financial outlook
10.6.3 Product summary
10.6.4 Recent developments
10.7 Technogym
10.7.1 Company details
10.7.2 Financial outlook
10.7.3 Product summary
10.7.4 Recent developments
11. List of Abbreviations
12. Reference Links
13. Conclusion
14. Research Scope
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.
