Global Lateral Fitness Equipment Market was worth USD 5.4 billion in 2020, and it is determined to reach a valuation of USD 10.7 billion, expanding at a CAGR of 10.1% during the conjecture period 2021-2026.
Lateral fitness equipment is widely used to improve endurance, weight management, physical fitness, and strength. Commonly used lateral exercise equipment are treadmills, stationary bikes, stair climbers, and weightlifting machines. Additionally, the rapid rise in diabetes and obesity has revolutionized the global fitness industry. This has mainly led to an increase in the membership of clubs and gyms in the country and has led to the growth of the lateral fitness equipment market. The demand for services and products has exploded due to a preventive approach to health care. Additionally, large, established fitness chains and gyms are increasing their product and service portfolio in untapped markets to reach potential customers, also increasing the market demand for lateral fitness equipment.
Market Drivers and Restrains:
Gym culture around the world is on the rise as more people join gym workouts for their health. In addition, countless people living in Metro and Tier-2 cities are rapidly beginning to hit the gym with a health conscience, which is also driving the growth of the global lateral fitness equipment market. Also, the rise of advanced technology has changed the pattern of physical activities. Now people are using technological devices like pedometers, heart rate monitors, GPS, and smartphone apps to monitor athletic activity in the gym. This promotes the growth of the lateral fitness equipment business. The tendency for women to be slim and slim, lean and muscular men is becoming socialized and affecting people's participation in fitness to have an ideal body image. Also, the number of social media users has increased significantly as the Internet penetration rate has increased. With this in mind, most of the major players in the Lateral Fitness Equipment market plan strategies to promote their products and services on these social media platforms. Social media marketing is one of the key strategies adopted by various companies and industries to convey knowledge of product offerings to target audiences on social media channels. Therefore, through social media marketing strategies, the global Horizontal Fitness Equipment market seizes critical opportunities to gain traction and increase customer reach among target segments. Counterfeit brands are of poor quality and often cause discomfort and security issues, leading to negative perceptions among customers.
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Report is segmented as:
The Lateral Fitness Equipment market is segmented based on the type, end user, body type, and distribution channel. By type, the market is segmented into elliptical machines, treadmills, shoulder presses, exercise bikes, and chest press machines. It is divided into lower and upper body by body type. By end user, it is classified as apartment, home, hotel, corporate office, health club / gym, public institution, hospital and medical center. According to the distribution channels, the market is divided into online and offline.
North America accounted for nearly two-fifths of the global lateral fitness equipment market in 2020 and is foreseen to continue to maintain its leadership position through 2025. This is driven by rising obesity rates, increased health awareness, and knowledge of the benefits offered by the training equipment. The Asia Pacific region is expected to experience the highest CAGR of 12.8% from 2021 to 2026, as digital advertising from owners increases and the use of training equipment such as treadmills, stationary bikes and ellipses increases in the young population.
Key market players:
Key players in the global lateral fitness equipment market includes Johnson Health Tech Co., Ltd., ICON Health & Fitness, Inc., Amer Sports Corporation, Technogym SPA, Core Health & Fitness, LLC., Nautilus, Inc., Impulse (Qingdao) There is. Health Tech Ltd. Co., True Fitness Technology, Inc. and Cybex International Inc.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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