Gym Accessories Market Poised for Remarkable Growth, to Surpass USD 12.01 billion, At a CAGR 6.2% by 2031
Gym Accessories Market
Gym accessories industry was estimated at $6.51 billion in 2021, and is anticipated to hit $12.01 billion by 2031, registering a CAGR of 6.2% from 2022 to 2031
DELAWARE, WILMINGTON, UNITED STATES, July 3, 2024 /EINPresswire.com/ -- According to the report, the global Gym accessories industry1 was estimated at $6.51 billion in 2021, and is anticipated to hit $12.01 billion by 2031, registering a CAGR of 6.2% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chain, competitive scenario, and regional landscape.
➡️𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂 : https://www.alliedmarketresearch.com/request-sample/A16938
Drivers, restraints, and opportunities-
Rise in prevalence of obesity and surge in health consciousness majorly boost the growth of the global gym accessories market. Moreover, increase in the number of gym memberships, growing sale of in-home equipment, upsurge in the urban population, and emergence of several government initiatives to promote healthy life fuel the adoption of fitness equipment, thus supplementing the market growth even more.
On the other hand, high price of fitness equipment hampers growth to some extent. However, improvement in lifestyle, increase in youth population, and rise in per-capita income in the developing countries are the major factors that are anticipated to create lucrative opportunities in the industry.
Covid-19 scenario-
Disruptions related to reduced production capacity, human resources, and transportation had a sheer negative impact on the global gym accessories market.
Shortage of raw materials, on the other hand, gave way to increased prices and encouraged the usage of alternative products, which worsened the condition even more.
Strict restrictions on the closure of gymnasiums across the majority of countries diminished the demand for gym accessories altogether. However, the market has almost recovered slowly and steadily.
➡️ 𝐋𝐈𝐌𝐈𝐓𝐄𝐃-𝐓𝐈𝐌𝐄 𝐎𝐅𝐅𝐄𝐑 - 𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝟏𝟓 % 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐎𝐧 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/checkout-final/e50c2e88c102a9373d2ca0e4d9a912ec
𝐓𝐡𝐞 𝐡𝐞𝐚𝐥𝐭𝐡 𝐜𝐥𝐮𝐛/𝐠𝐲𝐦 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞 𝐛𝐲 𝟐𝟎𝟑𝟏-
By end-user, the health club/gym segment contributed to nearly two-fifths of the global gym accessories market share in 2021, and is expected to lead the trail by 2031, due to increase in the number of health clubs and gyms across the world. The corporate office segment, on the other hand, is expected to exhibit the fastest CAGR of 9.3% from 2022 to 2031.
This is because several corporate organizations have set up fitness centers and offer fitness programs to improve the health of employees and increase their productivity.
𝐓𝐡𝐞 𝐬𝐩𝐞𝐜𝐢𝐚𝐥𝐭𝐲 𝐬𝐭𝐨𝐫𝐞𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐭𝐡𝐞 𝐥𝐢𝐨𝐧'𝐬 𝐬𝐡𝐚𝐫𝐞-
Based on distribution channel, the specialty stores segment generated nearly two-fifths of the global gym accessories market revenue in 2021, and is expected to lead the trail by 2031. Specialty sporting stores can serve as gathering places for enthusiasts, particularly if the owners host special events and product demonstrations, which indirectly promotes the product that is introduced newly or already exists in the market.
Employees at specialty sporting stores are familiar with different gym accessories available and provide insights to their customers for a better understanding of the properties and usage of gym accessories in an effective manner. Such features of specialty sporting stores entice customers, thus contributing to the growth of the gym accessories market.
The online sales channel segment, on the other hand, would manifest the fastest CAGR of 9.8% from 2022 to 2031, due to rapid growth in online and mobile user customer bases in developing economies.
𝐓𝐡𝐞 𝐡𝐞𝐚𝐫𝐭 𝐫𝐚𝐭𝐞 𝐦𝐨𝐧𝐢𝐭𝐨𝐫 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐧𝐢𝐟𝐞𝐬𝐭 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐂𝐀𝐆𝐑-
Based on type, the heart rate monitor segment would manifest the fastest CAGR of 9.8% from 2022 to 2031.This is because heart rate monitors help identify whether the workout is burning fats or carbohydrates, as faster heart rates indicate burning of carbohydrates and lower heart rates indicate burning of fat. This helps users develop cardiovascular workout routines depending on their preferences and workout goals.
The others segment, simultaneously, held nearly one-fourth of the global gym accessories market revenue in 2021, and is expected to lead the trail by 2031.
𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐠𝐚𝐫𝐧𝐞𝐫𝐞𝐝 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧 𝟐𝟎𝟐𝟏-
Based on region, Asia-Pacific held the major share in 2021, generating more than two-fifths of the global gym accessories market. The same region would also garner the fastest CAGR of 6.2% by 2031.
Rapid urbanization in developing economies, increasing youth population, and rising per capita disposable income are expected to propel the adoption of gym accessories in the region.
➡️𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A16938
𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧𝐜𝐥𝐮𝐝𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐆𝐲𝐦 𝐀𝐜𝐜𝐞𝐬𝐬𝐨𝐫𝐢𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐫𝐞
• Icon Health & Fitness,
• Torque Fitness,
• Core Health & Fitness,
• Naitilus, Inc,
• Techno gym S.p.A,
• Peloton Interactive,
• Antasports,
• Lifefitness,
• Aerofit,
• beingstrong,
• sfhealth,
• jeraifitness,
• Proform,
• Fitness World AS,
• Hammer Sport AG, and
• Rogue Fitness.
𝐊𝐄𝐘 𝐁𝐄𝐍𝐄𝐅𝐈𝐓𝐒 𝐅𝐎𝐑 𝐒𝐓𝐀𝐊𝐄𝐇𝐎𝐋𝐃𝐄𝐑𝐒
• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the gym accessories market analysis from 2021 to 2031 to identify the prevailing gym accessories market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the gym accessories market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global gym accessories market trends, key players, market segments, application areas, and Gym Accessories Market Growth strategies.
➡️𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:-
• Europe Pilates & Yoga Studios Market
https://www.alliedmarketresearch.com/europe-pilates-and-yoga-studios-market-A10850
• Outdoor Fitness Equipment Market
https://www.alliedmarketresearch.com/outdoor-fitness-equipment-market-A16177
• Women Sports and Swimwear Market
https://www.alliedmarketresearch.com/women-sports-and-swimwear-market-A16905
• Golf Club and Sets Market
https://www.alliedmarketresearch.com/golf-club-and-sets-market-A16953
David Correa
Allied Market Research
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