Europe Connected Gym Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Cardiovascular Training and Strength Training) and End-Users (Residential, Gym, and Other Commercial Users)

Gym Segment to Dominate Europe Connected Gym Equipment Market during 2021-2028.

According to a new market research study on “Europe Connected Gym Equipment Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Type and End-users” is expected to reach US$ 1,009.16 million by 2028 from US$ 175.89 million in 2021. The market is estimated to grow at a CAGR of 28.3% from 2021 to 2028. The report provides trends prevailing in the Europe connected gym equipment market along with the drivers and restraints pertaining to the market growth. Rising technological advancement in connected gym equipment and increasing health concerns are the major factor driving the growth of the Europe connected gym equipment market. However, high initial and maintenance cost hinders the growth of 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 Europe connected gym equipment market is segmented based on type, End-users, and country. Based on type, the market is segmented as cardiovascular training and strength training. The cardiovascular training segment dominated the Europe connected gym equipment market in 2020 and strength training segment is expected to be fastest growing segment during forecast period. On the basis of End-users, the market is segmented as residential, gym, and other commercial users. The gym segment dominated the Europe connected gym equipment market in 2020 and residential segment is expected to be fastest growing segment during forecast period.

Cybex International, Inc.; Draper, Inc.; EGYM; Johnson Health Tech; LES MILLS INTERNATIONAL LTD; Life Fitness; Nautilus, Inc.; and Technogym S.p.A are among the leading companies in the Europe connected gym equipment market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Johnson Health Tech acquires majority shares of Fuji Medical Instruments.

The report segments the Europe Connected Gym Equipment Market as follows:

Europe Connected Gym Equipment Market - By Type

• Cardiovascular Training
• Strength Training

Europe Connected Gym Equipment Market - By End-users

• Residential
• Gym
• Other Commercial Users

Europe Connected Gym Equipment Market - By Country

• Germany
• France
• Italy
• UK
• Russia
• Rest of Europe

Reasons to buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe connected gym equipment market.
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in Europe connected gym equipment market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the connected gym equipment market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution