Fitness Equipment Market in Europe to grow at 3.5% CAGR up to 2026

Europe Fitness equipment market is set to witness robust growth during the forecast period of 2020-2026. In fact, the market is reported to collect revenue worth a whopping $4 billion by the end of the mentioned forecast timeline. Rising percentage of the population in the region is opting for gym and health club memberships. According to a report released by the European Health & Fitness Market in 2020, the number of people who registered for health club and gym memberships went up to almost 65 million and the total number of facilities increased to around 63,644.

The COVID-19 pandemic has caused a lot of strain to fitness equipment market in Europe due to nationwide lockdowns and movement restrictions. This resulted in several gyms and fitness centers being temporarily shut, leading to heavy losses for the industry. However, with several industries opening up after the ease in lockdown restrictions, there is still hope for this industry to regain its potential and is expected to perform well during the forecast period.

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High number of cardiovascular disease patients in Europe will boost the growth of fitness equipment market in the region. Cardiovascular disease is one of the leading causes of death; almost 45% of the regional population dies because of this disease, according to a report released by the European Heart Network AISBL. This is quite a cause of worry for a majority of the population and has resulted in increased subscription to health and fitness memberships to take care of their heart health.

The tourism and hospitality industry of Europe is increasingly adopting dedicated gyms and fitness rooms/centers to encourage guests to exercise regularly. For example, St. Martin’s Lane Hotel has announced its partnership with Gymbox, London to create fitness centers alongside the luxury hotel to provide a fulfilling fitness workout experience to the guests.

Europe is a seeing sudden increase in awareness about overall fitness and health among the regional population. People aged 15 years and above have their own fitness club cards, according to market reports. The number of health and fitness centers in the region grew from 7,038 to 7,239 in the UK in 2019. Germany took lead in the number of people applying for health club memberships with 11.7 million. The UK came a close second with 10.4 million members. All these factors will enhance the demand for fitness equipment in the region.

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Growing demand for strength equipment among end-users like gym owners and fitness center operators will boost fitness equipment market scope in Europe. These equipment have several health benefits like improving body balance, providing relief from arthritis and improving the overall bone health. Dumbbells and barbells are cheaper as compared to heavy cardio machines, resulting in increased demand for the former among fitness enthusiasts who want to workout from home. In fact, Nautilus Inc. upgraded its existing Bowflex SelecTech line by adding the adjustable 2080 barbell and curl bar that come with seven adjustable weights to make home workouts easier.

Escape Fitness Ltd., Core Health & Fitness, Amer Sports Corporation, Eleiko Group AB and Icon Health & Fitness Inc. are some of the prominent companies fitness equipment market in Europe.

Table of Contents (ToC) of the report:

Chapter 1. Methodology & Scope

  • Market scope & definitions
  • Assumptions
  • Research methodology

Chapter 2. Executive Summary

Chapter 3. Fitness Equipment Market Insights

  • Industry segmentation
  • Industry ecosystem analysis
  • Industry impact forces
  • Growth drivers
  • Growth restraints
  • Regulatory overview
  • Porter’s analysis
  • PESTEL analysis
  • Competitive landscape, 2020

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