LAMEA Fitness Equipment Market

LAMEA Fitness Equipment Market Size, Share & Industry Trends Analysis Report By Distribution Channel (Offline, and Online), By Type, By End-user (Home Consumers, Fitness Centers/Gyms), By Country and Growth Forecast, 2023 - 2030

Report Id: KBV-18579 Publication Date: November-2023 Number of Pages: 156
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Market Report Description

The Latin America, Middle East and Africa Fitness Equipment Market would witness market growth of 7.7% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 1,135.0 thousand units, showcasing a growth of 9.2% (2023-2030).

The market is subject to ongoing trends that reflect changing consumer preferences, technological advancements, and societal shifts. These trends influence the design, functionality, and features of fitness equipment, making it an exciting and dynamic industry to explore. Modern fitness equipment is increasingly equipped with smart technology, including touch screens, Wi-Fi connectivity, and access to workout apps and virtual training programs. Consumers are becoming more environmentally conscious, and this equipment manufacturers are responding by designing products with a smaller carbon footprint. Sustainable materials, energy-efficient designs, and eco-friendly production processes are becoming more prevalent. Recycled and upcycled fitness equipment is also rising, addressing concerns about waste and sustainability.

Furthermore, the rise of home gyms is accompanied by a demand for compact and versatile fitness equipment that fits well in smaller spaces. Manufacturers produce space-saving solutions like foldable treadmills, adjustable dumbbells, and modular home gym systems. These innovations make it easier for individuals to create functional workout spaces within their homes without compromising equipment quality. The integration of wearable technology with this equipment is becoming increasingly common. Users can connect their fitness trackers, smartwatches, and health apps to equipment to monitor heart rate, track calories burned, and receive workout recommendations. This trend enables users to have a more personalized and data-driven fitness experience.

In South Africa, there has been a noticeable rise in the fitness industry, driven by a growing health-conscious population and an increasing number of fitness facilities catering to various workout preferences. The expansion of gym chains, boutique fitness studios, and wellness centers across urban areas has been instrumental in fostering a fitness-focused culture. As a result, there has been a corresponding uptick in the demand for this equipment, both in commercial settings and for personal use, as people seek to maintain active lifestyles. Therefore, the region presents lucrative growth prospects for the market in the coming years.

The Brazil market dominated the LAMEA Fitness Equipment Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $457.3 million by 2030. The Argentina market is showcasing a CAGR of 8.3% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 7.4% during (2023 - 2030).

Based on Distribution Channel, the market is segmented into Offline, and Online. Based on Type, the market is segmented into Cardiovascular Training Equipment (Treadmills, Stationary Cycles, and Others), Strength Training Equipment, and Others. Based on End-user, the market is segmented into Home Consumers, Fitness Centers/Gyms, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.

Free Valuable Insights: The Worldwide Fitness Equipment Market is Projected to reach USD 18.8 Billion by 2030, at a CAGR of 5.8%

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Suunto Oy (Amer Sports Corporation), Nautilus, Inc., Brunswick Corporation, Johnson Health Tech Co., Ltd., True Image Interactive, Inc., Life Fitness (Cybex International, Inc.), Impulse (Qingdao) Health Tech Ltd. Co., Icon Health & Fitness, Inc. (IHF Holdings Inc.), Torque Fitness LLC., Core Health & Fitness, LLC

Scope of the Study

Market Segments Covered in the Report:

By Distribution Channel (Volume, Thousand Units, USD Billion, 2019-2030)

  • Offline
  • Online

By Type (Volume, Thousand Units, USD Billion, 2019-2030)

  • Cardiovascular Training Equipment
    • Treadmills
    • Stationary Cycles
    • Others
  • Strength Training Equipment
  • Others

By End-user (Volume, Thousand Units, USD Billion, 2019-2030)

  • Home Consumers
  • Fitness Centers/Gyms
  • Others

By Country (Volume, Thousand Units, USD Billion, 2019-2030)

  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • Suunto Oy (Amer Sports Corporation)
  • Nautilus, Inc.
  • Brunswick Corporation
  • Johnson Health Tech Co., Ltd.
  • True Image Interactive, Inc.
  • Life Fitness (Cybex International, Inc.)
  • Impulse (Qingdao) Health Tech Ltd. Co.
  • Icon Health & Fitness, Inc. (IHF Holdings Inc.)
  • Torque Fitness LLC.
  • Core Health & Fitness, LLC
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