The fitness equipment market
is driven by various factors such as growing fitness concern, inclinations
towards creating an attractive physique and increasing stamina & strength of
muscle & tendons.
With various gyms and wellness
centers are coming up in corporate enterprises and health centers, the key
vendors & manufacturers of fitness equipment have started capitalizing on
the immense growth opportunities. Furthermore, these factors are responsible
towards commercialization of the fitness equipment market across the APAC
region. Rising fads for setting up personal gyms spaces especially in various
Asian countries including Japan and South Korea further fuel the adoption rate
of these fitness equipment. The key factors responsible are increasing count of
population which is ageing.
Different gyms spread across
the APAC region implement competitive strategies to gain a stronghold in the
fitness equipment market. For instance they are not only opening new outlets in
hotels and multinational organizations but also offer cutting-edge facilities in
these institutions equipped with personal trainers. Various wellness programs in
the corporate space involves providing fitness facilities in office premises
and offering gym allowances in terms of attractive reimbursements to its
employees.
Many key manufacturers & vendors in
developing nations in APAC region have corporate tie-ups in which key
manufacturers offer setting up of the fitness equipment in the organization, which
is a symbiotic relationship between companies and franchisee.
As per a recent report added
by Big Market Research titled “Asia-Pacific
Fitness Equipment Market”, the fitness equipment market in Asia -
Pacific region would grow at 7.5% CAGR during the forecast period (2015–2020)
Some of the key market players profiled in
this report are include ICON Health & Fitness Inc, Cybex International Inc,
Johnson Health Tech Co. Ltd., among many others.
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