Fitness equipment comprises all machines and monitoring devices required for various physical exercises. The fitness industry has substantially grown in terms of gym models along with a holistic concept of fitness by offering dedicated fitness equipment to an individual.
The top factors influencing the market’s growth include the global rise in the obese population; the surge in disposable income in developing countries; and the increase in the young population across developing regions. Based on these drivers, the Canada fitness equipment market has also been evolving at a decent pace in recent years as people have become enthusiastic about fitness.
An increasing sedentary lifestyle across the world is driving the demand for fitness equipment. Also, a rising number of fitness service providers and centres is fueling the growth of the fitness equipment market. Various service providers are offering packages and discounts for weight loss program to attract maximum consumers. All these factors are having a positive impact on the growth of the fitness equipment market across the country.
According to the report, Canada Fitness Equipment Market Overview, 2027 the market is anticipated to rise at an exponential growth rate during the forecast period. Key market players operating in the Canada fitness equipment market are coming up with new and innovative 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.
Furthermore, escalating incidents of cardiovascular diseases, diabetes, and osteoarthritis are a major concern across the country. According to the World Health Organization, cardiovascular disease is one of the major causes of death. However, many organizations are promoting a healthy lifestyle through sports. As a result, an increasing number of individuals are actively engaged in physical activities such as signing up for workout program and packages or just exercising independently. This is driving the growth of the fitness equipment market.
Moreover, the expanding virtual fitness market will spur the demand for high-quality fitness equipment that can be easily installed at home. Busy working professionals prefer to undertake online fitness sessions to enjoy exercising in the comfort of their homes and as per their convenience.
In response to the growing home fitness equipment industry, market players are launching digitally connected solutions for consumers. Consumers are leveraging the benefits of digitally connected fitness equipment to enjoy a personalized training experience through online workout classes across the country.
Equipment makers are also investing in research and development (R&D) operations in order to provide sophisticated and user-friendly gadgets that will improve the entire customer experience. Other factors, such as growing consumer spending power and the development of wearable gadgets that can be synced with exercise equipment, are expected to propel the market even further.
Self-care is becoming a vital part of people health amid COVID-19, including mental, physical, and emotional health. The pandemic has triggered health awareness among the public to boost their immune systems and physical fitness. The imposition of lockdown across the country has resulted in gym closures, enforcing the shift of gym goers toward home fitness equipment from the year 2020. However, increased awareness regarding health and fitness is expected to significantly drive the home fitness equipment market growth. The overall fitness equipment market size has witnessed a dip in the same year.
Considered in the report
- Geography: Canada
- Base year: 2021
- Historical year: 2016
- Estimated year: 2022
- Forecasted year: 2027
Aspects covered in the report
- Canada fitness equipment market overview
- Canada cardiovascular fitness equipment market overview
- Canada strength fitness equipment market overview
- Policy & regulations
- Porters five force model
- Company profile of top players
- Strategic recommendation
By Cardiovascular fitness equipment
- Stationary bike
- Elliptical trainer
- Rowing machine
- Cross Country ski
- Stair stepper
By Strength fitness equipment
- Weight plates
- Hydraulic equipment
- Resistance band & tubes
For more information about this report visit https://www.researchandmarkets.com/r/x99mkt