Sport
Outdoor Fitness Equipment Market to Reach $1.8 Bn, Globally, by 2030 at 4.3% CAGR: Allied Market Research
Surge in incidence of obesity, development of new equipment to provide improved experience, and rise in trend of open gyms and fitness centers drive the growth of the global outdoor fitness equipment market. However, inclination toward acquiring in-home fitness equipment and expensive nature of outdoor equipment restrain the market growth. On the other hand, the launch of equipment that offers dual exercise capabilities present opportunities in the coming years.
Based on product type, the action series segment accounted for the highest market share in 2020, contributing to nearly half of the global outdoor fitness equipment market, and is expected to maintain its leadership status during the forecast period. This is due to rise in usage by global consumers to exercise daily and maintain fitness. However, the heavy duty series segment is expected to witness the highest CAGR of 5.4% from 2021 to 2030, owing to increased usage for bodybuilding purposes.
Based on application, the outdoor gyms segment held the highest market share in 2020, accounting for more than one-fourth of the global outdoor fitness equipment market, and is expected to maintain its lead position during the forecast period. This is due to inclination of large group of consumers toward visiting outdoor gyms for training and exercise. The report also analyzes segments such as public institution, fitness parks and trails, government fitness centers, and others.
Based on region, North America contributed to the highest market share in terms of revenue in 2020, accounting for around one-third of the global outdoor fitness equipment market, and is expected to maintain its dominance in terms of revenue by 2030. This is due to increase in awareness of fitness in countries such as the U.S., Canada , and Mexico . However, Asia-Pacific is projected to manifest the fastest CAGR of 5.8% during the forecast period. This is attributed to rise in interest in performing different types of exercises and surge in focus on maintaining fitness.
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