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Europe Connected Gym Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type and End-Users

Europe Connected Gym Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type and End-Users

  • July 2021
  • 106 pages
  • ID: 6134624
  • Format: PDF
  • The Insight Partners

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The Europe connected gym equipment market is expected to grow from US$ 175.89 million in 2021 to US$ 1,009.16 million by 2028; it is estimated to grow at a CAGR of 28.3% from 2021 to 2028. Increasing health concerns across Europe region is expected to surge the market growth in coming years. Earlier, people did not have to take out dedicated time for exercise. Their daily routine was enough to burn those extra calories. Barring few jobs like product delivery, nursing, surgery, and some farming activities, almost all jobs in today’s time are moving towards sedentary work style. This is happening because automation is taking place in almost every walk of life. These all has given rise to insufficient physical activity among individuals. Insufficient physical activity in daily life is considered as one of the major risk factors for death all over the Europe region. Inadequate physical activity is a crucial risk factor involved with non-communicable diseases (NCDs) such as cancer, diabetes, and cardiovascular diseases. It also invites unwanted obesity in many people at very young age. So, to manage the health properly, people are getting aware and conscious about indulging in daily physical activities. Gyming helps in reducing body weight, building bones and muscles, increasing energy levels, and improving skin health. Increase in monetary income allows the consumers to spend on gyming. Along with physical health, gyming also improve people’s mental health to a large extent. It helps in improving sleep quality and memory. It also helps in staying energetic and relaxed. Managing mental health is equally important for performing in today’s work life. So, the growing use of gym will escalate the demand of connected gym equipment, thereby driving the Europe connected gym equipment market.
In case of COVID-19, Europe is highly affected specially Russia, followed by the United Kingdom and rest others.Many European countries are anticipated to suffer an economic hit because of lack of revenues from various industrial sectors.

These countries have recorded the highest number of COVID-19 deaths and cases in the last year.Due to trade bans, lockdowns, travel bans, and supply chain disruptions, this region experienced an economic slowdown in 2020 which may continue in 2021.

European nations constitute a major market for connected gym equipment considering the health awareness among the population and development of latest technology.European gym equipment market is going to face increased digitalization and more consolidation with respect to daily use gym products.

Due to pandemic of COVID-19, everyone is working from home and so the demand for residential gym equipment is increased considerably. This will create many lucrative opportunities for the manufacturers to design gym equipment for residential use integrated with all the modern technology. However, due to sharp decline in demand for commercial gym equipment there has been a decline in the revenues of the market players operating in the European region.
The gym segment led the Europe connected gym equipment market based on end-users in 2020.Increasing health awareness and growing digitalization in gym equipment are some of the factors that will boost the sales of connected gym equipment all over the Europe region.

There are some exercises that can happen better at gym instead of home.Also, it is not possible for the trainer to monitor everything through a digital platform.

Some exercises even need physical support from the trainers.Many athletes and gymnasts visit smart gyms and use connected gym equipment which keeps a track of their workout performance.

Technology can be developed further where the equipment will suggest or recommend the next target based upon the previous performance. So, the growing use of gym due to health concern will escalate the demand of connected equipment’s, thereby driving the Europe connected gym equipment market.
The overall Europe connected gym equipment market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Europe connected gym equipment market.

The process also serves the purpose of obtaining overview and forecast for the Europe connected gym equipment market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe connected gym equipment market. Cybex International, Inc.; Draper, Inc.; EGYM; Johnson Health Tech; LES MILLS INTERNATIONAL LTD; Life Fitness; Nautilus, Inc.; and Technogym S.p.A are among a few players operating in the Europe connected gym equipment market.

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