Cardio Fitness Equipment: Introduction
- Cardio fitness equipment refers to indoor workout equipment designed to replicate cycling, stair climbing, rowing, walking, and running. Several types of equipment are designed to allow the human body to achieve aerobic and strength training workout.
- Cardio fitness equipment are mostly preferred in indoor spaces of commercial gyms and residences for workout purposes. Major players across the globe in the cardio fitness equipment market are offering innovative solutions to customers in order to meet their requirements, which is likely to drive the demand for cardio fitness equipment in the coming years.
Increasing Fitness Equipment in Indoor Spaces: A Key Driver
- Popularity of indoor fitness equipment is increasing due to growing urbanization, and rising number of fitness enthusiasts and fitness training program. Growing popularity of fitness equipment in commercial spaces such as institutions, corporates, residential parks, gymnasium centers, and sports training centers is likely to gain demand for cardio fitness equipment in the next few years. Increasing awareness about cycling exercises among users is influencing them to opt for cardio fitness equipment. In addition, increasing number of sports players, professional trainers, spending power of users, and rising number of youth participating in indoor fitness training activities is influencing the growth of the cardio fitness equipment market. Increasing preference for residential gym equipment owing to outbreak of COVID-19 and the resultant lockdowns, and trend of opting for home gym exercise equipment due to changing lifestyles is also influencing end- users to opt for cardio fitness equipment.
Development in Cardio Fitness Equipment: A Key Opportunity
- Cardio fitness equipment is a suitable option for users due to its multi-functional operating system. Some of the other reasons that help in increasing the demand for cardio fitness equipment are investment in R&D activities to develop technologically advanced equipment and supportive training facility initiatives. Rising fitness consciousness among users who prefer cardio fitness equipment is another driver of the market. In addition, manufacturers may also promote their products through numerous e-commerce channels as majority of customers are nowadays shopping through online channels. However, the spread of coronavirus has led to lockdown in many countries, thus affecting consumer spending power. The lockdown has resulted in the shutdown of major commercial spaces leading to economic slowdown. The drop in supply chain activities across various industries around the world is a restraint in manufacturing cardio fitness equipment and meet the demand of users.
Asia Pacific a Potential Market for Cardio Fitness Equipment
- The global cardio fitness equipment market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the cardio fitness equipment market in Europe includes the U.K., Germany, France, and Rest of Europe. Similarly, the market in Asia Pacific comprises India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes GCC, South Africa, and Rest of Middle East & Africa. The cardio fitness equipment market in South America has been segmented into Brazil and Rest of South America.
- Asia Pacific is expected to remain a potential market for cardio fitness equipment during the forecast period, owing to rising demand for fitness equipment in the region.
Key Players Operating in the Global Cardio Fitness Equipment Market
The global cardio fitness equipment market is moderately fragmented in nature, due to presence of a large number of local, regional, and global players. A few of the key players operating in the global cardio fitness equipment market are as follows:
- Amer Sports
- Cannondale Bicycle Corporation
- Concept2 Inc.
- First Degree Fitness
- Icon Health & Fitness Inc.
- JetBlack Cycling
- Johnson Health Tech
- Kurt Manufacturing
- MINOURA Co. Ltd.
- Nautilus Inc.
- Stages Indoor Cycling LLC
- Stamina Products Inc.
- Taco B.V.
- Technogym s.p.a.
- Wahoo Fitness L.L.C.
- Wattbike Atom
Global Cardio Fitness Equipment Market: Research Scope
Global Cardio Fitness Equipment Market, by Type
- Climbing Machines
- Dynamic Cycling & Cardio Fitness Equipment
- Elliptical Trainers
- Fitness Car
- Others (Rowing Machine, Exercise Stepper, etc.)
Global Cardio Fitness Equipment Market, by Price Category
Global Cardio Fitness Equipment Market, by Consumer Group
Global Cardio Fitness Equipment Market, by End-use
- Fitness Clubs
- Sports Centers
- Others (Fitness Institutes, Physical Training Services, etc.)
Global Cardio Fitness Equipment Market, by Distribution Channel
- E-commerce Channel
- Company Website
- Specialty Stores
- Mega Retail Stores
- Independent Stores
- Others (Direct Sales, Departmental Stores, etc.)
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.