Fitness Equipment Market Set for Rapid Growth By 2022: Grand View Research, Inc.
The global fitness equipment market is anticipated to reach USD 13.24 billion by 2022. Key factors that are expected to fuel growth include urbanization leading to changing lifestyles, growing awareness of health & wellness and drastic increase of obese population. Emerging economies have been observing growing trend for healthcare programs across all segments. In addition, governments in these countries are persistently attempting to conceptualize and establish effective healthcare plans. The introduction of new fitness regimes and healthcare programs across various corporates to encourage employees is expected to trigger growth. Fitness equipment market is projected to grow at a CAGR of 3.6% from 2015 to 2022. On the basis of equipment type, the industry is segmented into strength training, cardiovascular and devices such as trackers & monitors. Commonly used equipment across all age groups to maintain fitness and manage weight include stationary bicycles, ...