Europe region anticipated to grab maximum share of the global fitness equipment market
The Europe region accounted for a market share of 38% in terms of value in 2016 and is expected to lose 23 BPS over the forecast period. In 2016, the Europe fitness market was valued at more than US$ 6,200 Mn and is expected to cross US$ 8,000 Mn by 2024, registering a CAGR of 3.5% over the projected period. The Europe fitness equipment market represented an absolute $ opportunity of a little more than US$ 200 Mn in 2016 over 2015 and incremental opportunity of close to US$ 2,000 Mn between 2016 and 2024.
Increasing awareness of a healthy lifestyle accompanied by a surge in the number of fitness clubs likely to fuel the growth of the fitness equipment market in Europe
A sedentary lifestyle, limited or no time for physical activities and intake of junk food is responsible for obesity across the globe. The rising prevalence of obesity is one of the major factors fueling the growth of the global fitness equipment market, especially in developed countries like Europe. Increase in the number of gymnasiums and fitness service providers offering various packages and discounts for weight loss and related programs have increased the client base. All these factors are creating a positive impact on the growth of the fitness equipment market in Europe.
Population across the globe is now aware of the various diseases caused by a sedentary lifestyle. Key players operating in the global fitness equipment market are coming out with new outlets and chains of fitness clubs and spas. This is likely to positively impact membership subscriptions, which will ultimately boost the growth of the fitness equipment market over the projected period in Europe.
Increasing incidents of cardiovascular diseases, diabetes and osteoarthritis is a major concern now-a-days all over the world. According to the World Health Organization, cardiovascular diseases are one of the major causes of deaths. However, many organizations in Europe are promoting a healthy lifestyle through sports. As a result, an increasing number of individuals are actively engaging in physical activities such as signing up for workout programs and packages, or just exercising independently. This is driving the growth of the fitness equipment market in Europe. With economies growing rapidly, the retail chain is also expected to exhibit substantial revenue growth over the forecast period. As a substantial percentage of the total revenue from sales of fitness equipment comes from the organized retail chain, the growth of the fitness equipment market in Europe is anticipated to develop at a higher rate.
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China-based fitness equipment manufacturer SportsArt collaborates with Xtreme CSC
China-based fitness equipment manufacturer SportsArt collaborated with U.K and Ireland based chain of fitness facilities, Xtreme CSC in 2016. The later offers complete nutritional support to its members along with providing strength and conditioning with functional training. With 30 pieces of SportsArt equipment, the new gymnasium started by Xtreme CSC is located in Cashel, Ireland. It is believed that Xtreme CSC’s philosophy and ambitious brand development methods matched that of SportsArt and thus their variety of innovative new cardio, free weights and fix resistance equipment made it possible for Xtreme CSC to appeal to the widest user base. SportsArt has been picked over severe competition to bolster the rollout of more than 100 Xtreme CSC clubs. Even before the negotiations, it was clarified that one of their (SportsArt) qualities is their emphasis on individuals. According to the highly placed officials of Xtreme CSC, SportsArt continues to influence them with the strength of their quality of service and the quality of their equipment.
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