Athletic Training Equipment

Athletic Training Equipment

The athletic training equipment market is expected to register a CAGR of approx. 5% over the period of 2022-2028. Athletic training equipment is any machine or device required for physical exercise to manage overall weight, improve physical stamina, and develop muscular strength. The fitness equipment market demand has increased globally, due to an increase in health awareness. In addition, physical exercise is advised during certain medical treatments. The most commonly used fitness equipment includes treadmills, elliptical, stationary bicycles weightlifting machines & strength building machines, and others. The growing demand for athletic training equipment can be attributed to the increase in the prevalence of obesity and the rise in health consciousness have majorly fostered the growth of the global fitness equipment market. For instance, TRUE Fitness Technology, Inc. launched the Alpine Runner, a cardio machine that provides an incline feature, which ranges from -3% to 30% and burns more calories as compared to exercising on walkers and runners. Furthermore, a surge in the number of gym memberships is another factor promoting the adoption of fitness equipment. However, high costs of installation or setup of equipment or devices and increasing demand for the resale of cost-saving exercise equipment are impeding the growth of this market all over the world.

• Based on the type, the athletic training equipment market is segmented into cardiovascular training equipment, strength training equipment, other machines. The cardiovascular training equipment segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe due to growing inclination towards integrating interactive and immersive features in cardiovascular training machines. Companies are prioritizing the incorporation of virtual reality (VR) and augmented reality (AR) technologies in their equipment to improve user experience and increase the level of engagement during workouts.
• Based on the gender, the market is fragmented into male and female. The male segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period as Postpubescent males possess various physical attributes that give them an inherent advantage over females in sports that demand strength, power, and speed. Adult males typically exhibit greater height and longer limbs, which contribute to their superior performance. Additionally, the broader shoulders of males enable a larger shoulder girdle, which plays a significant role in enhancing upper-body strength. Furthermore, adult males generally possess a higher overall muscle mass and lower body fat percentage compared to females, even among those who undergo rigorous training.
• Based on the buyer type, the market is fragmented into individual, institution and others. The individual segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. The surge in demand for individual fitness equipment designed for home use can be attributed to the shift in lifestyle, characterized by a heightened emphasis on health and well-being. As individuals become more health-conscious, they are actively seeking ways to integrate regular physical activity into their daily routines. For instance, in 2021, iFIT Health & Fitness Inc. (iFIT) has recently announced a change in its corporate name from ICON Health & Fitness. This rebranding decision is a testament to iFIT's commitment to delivering personalized and comprehensive health and fitness experiences to its growing global community. With over five million members spanning across 120 countries, iFIT continues to expand its reach and impact in the wellness industry.
• Based on the distribution channel, the market is fragmented into retail stores, specialty & sports shops, online, others. The retail store segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. Retail distribution channel for sports equipment is expected to be the fastest-growing segment over the forecast period owing to the increasing popularity and dependence of generation X, millennials, and generation Z on the internet and e-commerce platform. A key advantage of shopping in retail stores is the hands-on experience it provides. Customers have the opportunity to physically engage with products, allowing them to make more informed decisions before buying. This tactile experience not only brings satisfaction but also aids in confirming that the items align with their needs. Moreover, the presence of well-informed staff members in physical stores enables customers to seek guidance, ask queries, and receive personalized recommendations. For instance, in 2021, Adidas, the foremost producer of sportswear globally, inaugurated its inaugural Flagship store in India. The establishment, known as 'The Home of Possibilities,' situated in Connaught Place, encompasses a multitude of digital touchpoints, a dedicated sustainability zone, and represents the epitome of the future of consumer retail experience.
• For a better understanding of the market adoption of the athletic training equipment, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the athletic training equipment industry owing to the growing popularity of games such as football, basketball, etc., are prompting government in the region to established arenas and offer an enhanced sporting experience to citizens. This is expected to create positive outlook for the market growth over the forecast period. Furthermore, a larger base of obese population in the region leads to higher adoption of fitness equipment. Obesity has long-term negative effects on health including but not limited to heart disease, stroke, type 2 diabetes, high blood pressure, cancer, and other bone & joint diseases.
• Some of the major players operating in market are Nautilus, Inc.; Torque Fitness; iFIT Inc.; KETTLER Sport; Life Fitness; Peloton; TRUE; Technogym S.P.A; Johnson Health Tech; HOIST Fitness Systems among others. Several M&A’s along with partnerships have been undertaken by these players.