Fitness Equipment Market size worth to reach USD 13.9 billion by 2023: Global Market Insights Inc.
Fitness Equipment Market size is set to reach USD 13.94 billion by 2023; according to a new research report by Global Market Insights, Inc. Growth in sedentary lifestyle of the population on a global scale has resulted in a rise in heath related illnesses such as cancer, depression, and heart & circulatory disease. Growing obese population in developed regions, such as the U.S. and Europe, is the key factor responsible for this adoption. The obese population segment drives the usage of cardiovascular equipment for weight management. Considerable initiatives from the corporate sector to undertake health and wellness programs will also drive fitness equipment market size. The decline in the well-being and general health of the population is of significant concern and the resultant impact is evident across the organization through higher stress levels, staff turnovers, increased absence and sickness, poor job satisfaction, and reduced productivity. Large numbers of organizations invest in developing effective corporate wellness program, and setting up health clubs and gyms in their office premises. Increasing adoption of such initiatives will drive the fitness equipment market size.
Modern day devices use internet 4.0 enabled sensors to monitor and collect health related data such as calories burned, sleep duration, and steps taken, thereby providing digital connectivity. Green gym products are being developed, which do not require electricity to power the device. Mechanical energy is converted into electrical energy, thus reducing the energy consumption costs and carbon footprint. U.S. fitness equipment market share will continue witnessing innovation-led measures for maximizing profitability and product differentiation.
Europe fitness equipment market size, by application, 2012 - 2023 (USD Million)
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