Global Strength Training Equipment Market: Overview
Busy lifestyles, lack of routine physical exercises, increased consumption of packaged, processed, and fast food are increasingly becoming the norm for the urban populace of the world. Stress levels are also hitting upsetting levels, especially among working middle-class populace residing in rapidly expanding urban spaces in emerging economies. Repercussions of these factors are highlighted by the rising prevalence of chronic diseases such as diabetes, cardiovascular conditions, and the swelling population of obese people across the globe.
The situation has worsened to such an extent that diabetes has become one of the world’s leading ten causes of death. According to the WHO, nearly 1.5 mn people died across the globe owing to diabetes-related issues in 2012 and new cases are being uncovered at an alarming pace. Obesity and associated health concerns are also on a worrying rise across the globe. The scenario has had a wide-ranging impact in terms of increased awareness regarding the need for regular exercise for preventing such conditions. As a result, the global population is increasingly focusing on ways of managing weight and leading healthy lifestyles. This has significantly benefited the global market for strength training equipment among other exercise equipment.
Global Strength Training Equipment Market: Drivers and Restraints
The rising awareness regarding the increased prevalence of chronic diseases and the central role played by unhealthy lifestyles on inducing them is the key factor driving the global market for strength training equipment. The rising consumer demand for improved and new varieties of these equipment is compelling companies operating in the market to focus more on innovations. The report states that the usage of strength training equipment will become more prominent in the near future as the trend of having regular workout regimens becomes popular among the global population and strength training equipment help improve performance for doing daily activities.
Global Strength Training Equipment Market: Segmentation
The global strength training equipment market is segmented on the basis of criteria such as technology, type, usage, and geography. On the basis of usage, the market can be categorized into two broad categories: commercial spaces, residential spaces. The segment of commercial spaces using strength training equipment includes sports centers and fitness clubs. Consumers opting for strength training at fitness clubs are mostly from demographics such as teenagers, aged, and working people. Aged people often prefer low impact and natural movement exercise equipment such as cable-based strength systems and air resistance equipment.
Consumers of strength training equipment across the residential sector, who prefer buying strength training equipment instead of having to rely on timely use in fitness centers, are rising at an encouraging pace globally. Rising disposable incomes and rising awareness regarding healthcare among women are the key factors driving the sales of strength training equipment across the residential sector.
*COVID-19 sent fitness equipment purchasing over 150%.
Global Strength Training Equipment Market: Geographical and Competitive Dynamics
On the basis of geography, the global strength training equipment market is strongest in North America, Europe, Asia Pacific, and Middle East and Africa. In developed economies such as Europe and North America, the demand for strength training equipment is high owing to the rapidly rising ageing population and high level of awareness regarding healthcare and fitness. In emerging economies such as India and China, the rising disposable incomes are expected to encourage people to spend more on healthcare and fitness, thus driving the Asia Pacific market.
