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2020
Lateral Fitness Equipment Market

Lateral Fitness Equipment Market

by Type (Treadmill, Elliptical, Exercise Bike, Shoulder Press Machine, and Chest Press Machine), Body Type (Upper Body and Lower Body), End User (Home, Apartment, Health Club/Gym, Hotel, Corporate Office, and Public Institution, Hospitals & Medical Center), and Distribution Channel (Online and Offline): Global Opportunity Analysis and Industry Forecast, 2020-2027

Report Code: A06181
Pages: 246
Apr 2020 | 5426 Views
Author(s) : Nitesh C , Roshan D
Tables: 157
Charts: 65
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COVID-19

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The global lateral fitness equipment market size was valued at $5.4 billion in 2020, and is estimated to reach $10.7 billion by 2027 with a CAGR of 10.1% from 2020 to 2027. Lateral fitness equipment are widely used for physical fitness, weight management, and improving body stamina & muscular strength. The commonly used lateral fitness equipment are treadmills, stationary bicycles, stair climbers, and weight lifting machines. Moreover, surge in cases of diabetes and obesity have led to a revolution in the global fitness industry. According to World Health Organization (WHO) 13% of adult aged above 18 years were obese and 39 % of adults were over weight. This has majorly made way for increase in growth of clubs and gym memberships in the country, which has also resulted in the lateral fitness equipment market growth. A precautionary approach to health care has led to a surge in demand for services and products. Furthermore, big and established fitness chains and gyms are increasing their product and service portfolios in untapped markets to reach out to the potential customers, which also boosts the lateral fitness equipment market demand.

Lateral-Fitness-Equipment-Market-2020-2027

Globally, there is an increase in the gym culture as more people are joining the gym movement for great health. Moreover, huge number of people living in metro and Tier-2 cities are rapidly becoming health conscious and have started hitting the gyms, which also results in fueling the growth of the lateral fitness equipment market. Furthermore, increase in advance technology has changed the pattern of fitness activities. Now people are using technological devices such as GPS, pedometer, heart rate monitor, and smartphone apps to monitor their workout efforts in gyms. This fuels the growth of the lateral fitness equipment market. The increase in trend of being thin and slim for women and slender and muscular for men is becoming sociocultural and also influencing people to engage in fitness to have ideal body image.

Moreover, the number of social media users has increased considerably with rise in internet penetration. Taking this into consideration, most of the key players in the lateral fitness equipment market strategize on promoting their products and services on these social media platforms. Social media marketing is one of the major strategies adopted by various companies and industries on imparting awareness about their product offerings among target customers on social media channels. Thus, through social media marketing strategy, global lateral fitness equipment market sights critical opportunity in gaining traction and increasing its customer reach among its target segments. However, high prices and rise in popularity of lateral fitness equipment brands such as Helix, Nortus, and Precor have led to the advent of counterfeit brands. Counterfeit brands are usually available in developing economies where customers are highly price-sensitive. This factor hampers the sale of the existing original lateral fitness equipment brands in these economies. Counterfeit brands are of low quality, and often lead to inconvenience & safety issues that subsequently develop negative perceptions among customers. Online distribution channel is one of the major platforms where transaction of counterfeited brands can be easily concealed. Thus, development of the counterfeited industry is anticipated to hamper the growth of the lateral fitness equipment market.

Lateral Fitness Equipment Market
By Product Type

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Treadmill segment dominates the global market and is expected to retain its dominance throughout the forecast period.

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The lateral fitness equipment market size is segmented into type, body type, end user, distribution channel, and region. By type, the market is classified into treadmill, elliptical, exercise bike, shoulder press machine, and chest press machine. By body type, it is categorized into upper body and lower body. By end user, it is segmented into home, apartment, health club/gym, hotel, corporate office, and public institution, hospitals & medical center. On the basis of distribution channel, the market is bifurcated into online and offline. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia & New Zealand, ASEAN and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Lateral Fitness Equipment Market
By Body Type

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Lower body segment is expected to grow at a fastest CAGR of 10.8% during the forecast period.

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On the basis of type, the treadmill segment led in terms of lateral fitness equipment market share in 2019, and is expected to retain its dominance during the forecast period. This is attributed to rise in awareness of health and fitness. In addition, surge in obese population is another factor that fosters the growth of the lateral fitness equipment market. Moreover, increase in government initiatives to promote heath and rise in disposable income in the developing and the developed countries augment the growth of the fitness equipment market.

Lateral Fitness Equipment Market
By End User

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Corporate Office segment is expected to grow at a fastest CAGR of 13.1% during the forecast period.

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By body type, the lower bodylateral fitness equipment market segment led in terms ofvalue, in 2019. Use of lower body lateral machines helps in stabilizing knees and hips, bone density, strengthen connective tissue, muscles, and tendons owing to which these machines are mostly preferred by athletics. 

Lateral Fitness Equipment Market
By Distribution Channel

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Online Sales Channel segment is expected to grow at a highest CAGR of 12.2% during the forecast period.

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Depending on end user, the health club/gym segment led in terms of market share in 2019, and is expected to retain its dominance during the forecast period. Increase in health awareness among the population has increased the participation of people toward gym. Increase in per capita income, surge in urbanization rates, and growth in youth population in the developing economies are expected to offer lucrative opportunities to market players.

Lateral Fitness Equipment Market
By Region

2027
North America 
Europe
Asia Pacific
LAMEA

North America dominates the market and is expected to grow with a CAGR of 4.5% during the forecast period

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By distribution channel, the offline segment led the market, in terms ofvalue, in 2019.Market players are establishing new brand outlets across various regions to extend their reach and increase their customer base, which also boost the growth of the lateral fitness equipment market.

The key players operating in the lateral fitness equipment market analysis includeICON Health & Fitness, Inc., Johnson Health Tech Co., Ltd., TECHNOGYM S.P.A., Amer Sports Corporation, Nautilus, Inc., Core Health & Fitness, LLC., True Fitness Technology, Inc., Impulse (Qingdao) Health Tech Ltd. Co., and Cybex International Inc.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current lateral fitness equipment market trends, estimations, and dynamics of the market analysis from 2019 to 2027 to identify the prevailing lateral fitness equipment market opportunity.
  • The key countries in all the major regions are mapped on the basis of lateral fitness equipment market share.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders, make profit-oriented business decisions, and strengthen their supplier–buyer network.
  • In-depth lateral fitness equipment market analysis to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global lateral fitness equipment industry. 
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global market trends, key players, market segments, application areas, and market growth strategies.

Lateral Fitness Equipment Market Report Highlights

Aspects Details
By Type
  • TREADMILL
  • ELLIPTICAL
  • EXERCISE BIKE
  • SHOULDER PRESS MACHINE
  • CHEST PRESS MACHINE
BY BODY TYPE
  • Upper body
  • Lower body
By End User
  • HOME
  • APARTMENT
  • HEALTH CLUB/GYM
  • HOTEL
  • CORPORATE OFFICE
  • PUBLIC INSTITUTION ,HOSPITALS & MEDICAL CENTER
By Distribution Channel
  • ONLINE
  • OFFLINE
By Region
  • NORTH AMERICA  (US, CANADA, MEXICO)
  • EUROPE  (UK, GERMANY, FRANCE, ITALY, SPAIN, REST OF EUROPE)
  • ASIA-PACIFIC  (CHINA, JAPAN, INDIA, AUSTRALIA AND NEW ZEALAND, ASEAN, REST OF ASIA-PACIFIC)
  • LAMEA  (LATIN AMERICA, MIDDLE EAST, AFRICA)
Key Market Players ICON Health & Fitness, Inc., Johnson Health Tech Co., Ltd., TECHNOGYM S.P.A., AMER SPORTS CORPORATION, Nautilus, Inc., Core Health & Fitness, LLC, TRUE FITNESS TECHNOLOGY, INC., IMPULSE (QINGDAO) HEALTH TECH LTD. CO., Total Fitness Equipment, Cybex International Inc.
 

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The lateral fitness equipment industry is continuously developing innovative exercise products for both home use and commercial gym environments to cater to the changing trends for physical activities and exercises across the globe. The aim is to maximize fitness results while enhancing overall workout experience. For instance, earlier, lateral fitness equipment had a standard user interface; however, these user interfaces are now evolving to include sophisticated smartphone-like features. 

Globally, the gym culture is increasing at a very fast pace as more people are joining the gym movement for great health. Moreover, there is significant increase in the gym going population in the metro cities and tier 2 cities.Furthermore, advancements intechnologieshas changed the pattern of fitness activities. Now, people are using technological devices such as GPS, pedometer, heart rate monitor, and smartphone apps to monitor their workout efforts in gyms, which also fuels the growth of the lateral fitness equipment market. The increase in trend of being thin and slim for women and slender and muscular for men is becoming sociocultural and also influencing people to engage in fitness to have ideal body image.
 

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FREQUENTLY ASKED QUESTIONS?

A. The global lateral fitness equipment market is anticipate to growth with a CAGR of 10.1% from 2020 to 2027.

A. The global lateral fitness equipment market is estimated to reach $10.7 billion by 2027.

A. Below are the list of top impact factors of lateral fitness equipment market growth:

A. The key players operating in the lateral fitness equipment market analysis include ICON Health & Fitness, Inc., Johnson Health Tech Co., Ltd., TECHNOGYM S.P.A., Amer Sports Corporation, Nautilus, Inc., Core Health & Fitness, LLC., True Fitness Technology, Inc., Impulse (Qingdao) Health Tech Ltd. Co., and Cybex International Inc.

A. The lateral fitness equipment market size is segmented into type, body type, end user, distribution channel, and region. By type, the market is classified into treadmill, elliptical, exercise bike, shoulder press machine, and chest press machine. By body type, it is categorized into upper body and lower body. By end user, it is segmented into home, apartment, health club/gym, hotel, corporate office, and public institution, hospitals & medical center. On the basis of distribution channel, the market is bifurcated into online and offline.

A. Novel product launch with integrated technologies and partnership with other stakeholder are the key growth strategies of lateral fitness equipment market players.

A. The health club/gym segment led in terms of market share in 2019, and is expected to retain its dominance during the forecast period

A. The treadmill segment led in terms of lateral fitness equipment market share in 2019, and is expected to retain its dominance during the forecast period.

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