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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