Emphasis on Type (Cardiovascular Training Equipment, Strength Training Equipment, Other Machines); Gender (Male, Female); Buyer Type (Individual, Institution and Others); Distribution Channel (Retail Stores, Specialty & Sports Shops, Online, Other) and Region/Country
The Athletic Training Equipment Market is expected to register a CAGR of approx. 5% over the period of 2023-2030.
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 the increasing popularity of major national and international events like the Soccer World Cup, Olympic Games, and Cricket World Cup is propelling the sports equipment market forward. The rise in lifestyle-related health issues, such as stress and obesity, is motivating more individuals to engage in outdoor and fitness activities, leading to a surge in demand for a wide variety of fitness and sports equipment. The positive health benefits of sports are gaining wider recognition. Engaging in sports offers numerous advantages for the human body, including the ability to burn fat and maintain a healthy body weight. Consequently, more people are taking up sports to enhance their fitness and well-being. Moreover, the growing prevalence of national and international sporting events is driving consumer demand for sporting goods, fueling market expansion. Conversely, the increasing popularity of indoor activities like video games, board games, and mobile phone games is constraining the growth of the sports equipment market. With youth and children spending excessive time on their mobile devices and seldom participating in outdoor sports, the rapid proliferation of the internet is having an adverse impact on market growth. For instance, in 2022, PUMA inaugurated its inaugural store in the Republic of Maldives, a renowned tourist hotspot that has experienced a triple surge in tourist arrivals over the past couple of years. Maldives now stands as the 20th market to be part of PUMA India’s network, alongside countries such as Singapore, Indonesia, Malaysia, Thailand, Vietnam, and the Philippines.
Nautilus, Inc.; Torque Fitness; iFIT Inc.; KETTLER Sport; Life Fitness; Peloton; TRUE; Technogym S.P.A; Johnson Health Tech; HOIST Fitness Systems are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
“Amongst type, the cardiovascular training equipment category accounted for the significant share in the market in 2022”
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 increasing incidence of cardiovascular diseases, as well as an increase in people’s awareness about their fitness. The development of innovative and user friendliness equipment is a result of technical progress, leading to growth in the market.
“Amongst gender, the male category is expected to witness considerable CAGR during the forecast period”
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 due to increasing involvement of males in different sports is the main factor propelling the market forward. The increasing recognition of physical activities for individual health is anticipated to positively influence market expansion. Moreover, the surging fame of sports events such as the FIFA World Cup, Olympics, ICC Cricket World Cup, and Kabaddi is projected to boost market growth even more during the forecast period. The heightened awareness of a healthy lifestyle and the consequent rise in popularity of diverse sports activities will further drive market growth.
“Amongst buyer type, the individual category is expected to witness considerable CAGR during the forecast period”
Based on the buyer type, the market is fragmented into Individual, Institution and others. The individuals segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period as individuals are currently seeking ways to incorporate training into their daily routines, which is driving the need for athletic training equipment.
“Amongst distribution channel, the retail store is expected to witness considerable CAGR during the forecast period”
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. Consumers are preferring online portals and official websites to purchase premium products in order to gain value-added services including convenient return policies, cash on delivery, and integrated and centralized customer services.
“North America to witness significant growth during the forecast period”
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 market 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. In 2014, as per an analysis by the National Center for Weight & Wellness, the annual cost of obesity was valued at $305 billion, which included direct medical and non-medical services, worker productivity losses, disability issues, and premature death. This has led to an increased need for weight management in the region.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Athletic Training Equipment Market
6. Athletic Training Equipment Market Revenue, 2020-2028f
7. Market Insights By Type
8. Market Insights By Gender
9. Market Insights By Buyer Type
10. Market Insights By Distribution Channel
11. Market Insights By Region
12. Athletic Training Equipment Market Dynamics
13. Athletic Training Equipment Market Opportunities
14. Athletic Training Equipment Market Trends
15. Demand And Supply-side Analysis
16. Value Chain Analysis
17. Pricing Analysis
18. Strategic Insights
19. Competitive Scenario
20. Company Profiled
21. Disclaimer
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global Athletic Training Equipment market were the three major steps undertaken to create and analyze the adoption of athletic training equipment in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global athletic training equipment market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Athletic Training Equipment market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the athletic training equipment market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as type, gender, buyer type and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the athletic training equipment market. Further, we conducted factor analysis using dependent and independent variables such increase in the prevalence of obesity and the rise in health consciousness etc. globally. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the athletic training equipment market sector across the globe.
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global athletic training equipment market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global athletic training equipment market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of application, product type, material and end user in the global athletic training equipment market.
The current & future market trends of the global athletic training equipment market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the current market size and growth potential of the global athletic training equipment market?
Q2: What are the driving factors for the growth of the global athletic training equipment market?
Q3: Which segment has the largest share of the global athletic training equipment market by type?
Q4: What are the emerging technologies and trends in the global athletic training equipment market?
Q5: Which region will dominate the global athletic training equipment market?
Q6: Who are the key players operating in the global athletic training equipment market?
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November 7, 2024
