Israel Fitness Equipment Market Outlook to 2026: Driven by increase in commercial gyms and home fitness due to growing awareness towards a healthy lifestyle and impetus by the government to promote health and fitness

Israel Fitness Equipment Market Outlook to 2026: Driven by increase in commercial gyms and home fitness due to growing awareness towards a healthy lifestyle and impetus by the government to promote health and fitness

Israel Fitness Equipment Market Outlook to 2026The publication titled “Israel Fitness Equipment Market Outlook to 2026: Driven by increase in commercial gyms and home fitness due to growing awareness towards a healthy lifestyle and impetus by the government to promote health and fitness” provides a comprehensive analysis of the fitness equipment industry. The report covers various aspects including fitness equipment industry market size on the basis of on the basis revenue, market overview, value chain analysis, ecosystem, operating model, gym joining decision making parameters, SWOT analysis, major trends and developments, government initiatives promoting health awareness, and impact of COVID-19.Insights on competitive landscape of fitness equipment industry, list of major distributors in Israel, and company profile of major players along-with cross comparison between fitness equipment distributors operating in the ecosystem on the basis of company overview, revenue generated, countries served, product portfolio, revenue streams, type of customers, serviced offered, strengths, weaknesses, major clientele and key partnerships is also covered in the report. The report also covers trade scenario of fitness equipment (by imports and exports of fitness equipment from major countries), along-with end user analysis of demand side highlighting key demand clusters on the basis of region, customer decision making factors in joining fitness centers, target and service addressable market of Israel health and fitness industry. Further report also focuses on the Israel Fitness Equipment Market Segmentation by Type of End User (Commercial Fitness Centers & Health Clubs, Universities, Office & Hotels) By Value (In USD Mn), By Location of Manufacturing (Import and Domestic Manufacturing) By Value (In USD Mn). Israel Fitness Equipment Market report concludes with projections for the future of the industry including forecasted industry size by revenue by 2026, and analysts’ take on the future highlighting the major opportunities.

Israel Fitness Equipment Market Overview and Size

Israel fitness equipment market expanded with a steady-paced growth in between 2016 and 2021 with considerable expansion in commercial fitness centers in which low budget gyms and women centric fitness club dominated the market. Government initiatives such as National Program to promote Active, Healthy Lifestyle and Annual sponsored fitness events like Jerusalem Marathon and The Women Race” are taken up by the government to improve physical conditions of people coupled with rising health concerns such as obesity, diabetes and cardiovascular diseases due to unhealthy lifestyle, inclination of consumers to undertake online fitness sessions to enjoy exercisingin the comfort of their homes and as per their convenience are the major determinant to drive the growth of fitness equipment industry. Surging demand of fitness equipment suitable for home/residential purposes post COVID-19 is also contributing in the growth of fitness equipment market.

In 2020, fitness equipment industry experienced a temporary downfall owing to the impact of COVID-19 on industry leading to closure of the fitness centers and health clubs due to country wide lockdown. With mandatory protocol such as to avoid physical contact and maintenance of social distancing to prevent the transmission of virus restrained a major chunk of population from availing fitness services in fitness centers and health clubs. These factors have however led to increased demand of home-based fitness equipment and adaptation to digital fitness services as people preferred to follow fitness regimes at their home to ensure safety. Also, increased awareness on health and hygiene followed by the advent of COVID-19 is acting as a catalyst for the shift in consumer’s preference towards availing digitally connected solutions for their fitness routine.

Israel Fitness Equipment Market Segmentation

By Type of End User (Commercial Fitness Centers and Health Clubs, Universities, Office and Hotels): Commercial fitness centres accounted for the highest market share among all other types of end users on the basis of revenue generated in the year 2021. Popular fitness clubs under the category of commercial fitness centres dominated the sector. University based fitness centres and health clubs accounted the second highest share.

By Imported and Domestic manufacturing (Foreign and Domestic Manufacturing): Imported fitness equipment accounted for the highest market share as compared to the locally manufactured (domestic) fitness equipmenton the basis of revenue generated in 2021. Lack of domestic manufacturer’s ability to produce advanced fitness equipment leads to the increased demand of fitness equipment from foreign counties such as China, Taipei and USA among others.

Competitive Landscape in Israel Fitness Equipment Market

Israel fitness equipment market is concentrated among 12-15 players. Abir Sports Co. Ltd. is the most established fitness equipment distributing company in Israel operating since 1991. Fitness equipment distributors in Israel compete on the basis of quality of fitness equipment products, wide range of equipment they offer and pricing of these products. One of the major competition parameters is the collaboration and partnerships that the distributors maintain with their clients namely, fitness clubs, fitness centers, hotels, resorts and universities. However, from the production side of fitness equipment, the domestic manufacturers in Israel has not been able to develop advanced fitness equipment that are demanded at fitness facilities. Due to which, in 2021 revenue generated through the imports of fitness equipment captured the majority share compared to domestic sales. Majority of the fitness equipment imported in Israel in 2020 were from China, Taipei and USA; with China contributing to majority share of the overall imports in 2020 on the basis of revenue generated. In coming years, the demand for domestically produced fitness equipment would rely on the ability of these manufactures to deliver high quality advanced fitness products.

Further, a notable shift in consumer preference post COVID-19 has contributed in the emergence of digital fitness services. Home based fitness equipment are heavily demanded in recent times as people prefer to regularly participate in physical and fitness activities at the comfort of their home thereby, reducing the risk of physical contacts at public fitness facilities. Surging demand of home-based fitness equipment will act as a catalyst for the growth in fitness equipment industry in coming years. Therefore, fitness equipment players in Israel must cater to the rising demand of home-based fitness equipment in order to integrate the market.

Israel Fitness Equipment Market Future Outlook and Projections

Fitness equipment market is expected to expand at a double digit CAGR in between 2021 and 2026 on the basis of revenue generated. It is anticipated that fitness equipment industry will grow at a substantial rate owing to factors such as the rising health concerns among population suffering from non-communicable diseases namely, obesity and chronic diseases due to unhealthy lifestyle, establishment of organized fitness centers with diversified services and entry of low budget international fitness chain along with various government initiatives such as “Nation Program to promote Active, Healthy Lifestyle” and events like “Jerusalem Marathon and The Women Race” to encourage people to regularly engage themselves in physical and fitness activities. Coupled with that, due to the changing lifestyle and influence from TV and internet, youth in the country is becoming more aware about their health and fitness, which will result into regular visits to fitness centersand indulging themselves into some kind of physical activity. The market is poised to gain significant traction with the rise in the number of women centric health clubs and fitness centers incorporating advanced equipment catering to the changing health patterns and consumer demands. On the other hand, high set up or installation cost of devices or equipment and rising demand for resale of used fitness equipment for saving cost are estimated to obstruct the market’s growth within the above-mentioned forecast period.