DUMBBELL, WEIGHT PLATE AND ACCESSORIES
Fitness and body shape has emerged to be more rated factors in comparison to the facial features and coloration factors in the 20th
century. With the encouragement of perfect body shapes the industry of gym has gained a lot of members eager to spend their time, money and strength at gyms. The requirement of instruments or accessories of gym are obviously altering with the consumer requirements and the latest trends yet few features remain constant like dumbbells, weight plates and few other accessories.
The Market Trends
During 2018, market of gym products has been immensely affected due to the bans which have been imposed on the Dumbbell Sales usage with the promotion of such bans on roads across a number of cities of few major states like New York & California, New Southern Wales, Dubai, Australia, Netherlands and so on. However, progressing demand in the rest of parts of the World like South America and Asia is existing for supporting Global market for the sales of Dumbbells. Backed through the changes that have been anticipated in the regulations of government that are related to the sales operations of Dumbbell in a number of countries coupled with the progressing investments on the diversities of products, the Global Sales of Dumbbells is possessing bullish outlook for long term. The Sales of Dumbbells are predicted to be widely adopted by national parks and zoos across a number of countries. Increasing the Dumbbell Sales utilization by the institutes like zoo and parks are predicting for the propelling of the Dumbbell Sales demand on Global level. The market of dumbbells and weight plates is segmented on the basis of types, the user end and geography. On the basis of user end, this market could be segmented into the home based consumers, the health clubs or gyms, and the rest of commercial users. The user end segment has witnessed an increase in the health clubs or gyms, owing for the growth in the rates of obesity with an increase in the consciousness of health amongst the consumers. In fact, U.S. held as a top leading country with the largest number of the presence of health clubs including the highest rates of memberships, followed by Brazil. Also, this segment is expected to be progressing at notable rate of growth because of the increasing awareness of health and favourable demographics, chiefly in the developing economies. The 2nd
largest contributors to the revenue are the home consumers that are purchasing the fitness equipment. This segment is the comprising of highest penetration across U.S. with the expectation for witnessing healthy rates of growth across the Europe. The market segment of home fitness equipment’s is anticipated for exhibiting the growth of approximately 5 % CAGR in the upcoming years from 2017 to 2024. Such boost of privacy, reduction of distractions, and provision of freedom to consumers for using equipment as per their choice. Also they are eliminating the inconvenience for the commuting to any gym for using the accessories and could be noted for being highly cost effective for the longer time period. The smaller, recurring cost experienced during transportation, the workout gear, the fee of trainer and the fee of membership could be a major factor for the promotion of inclination of consumer to the home based gyms. Also, offices are expected for experiencing high growth rates owing for an increase in a number of businesses which have been providing programs of corporate wellness to their employees thus driving the market of fitness equipment. This has been undertaken for the reduction of the overall medical expenditure of an employee with the increase in retention. The Companies like Verizon, Google and Marriott Hotels are comprising of large spaces for gym with trainers and with the availability of usage round-the-clock, 24/7. For example, in 2015, the government of India issued orders for setting up gyms in each department for the reduction of stress and promotion of a healthier environment of work.
The Market of Fitness Equipment by Region
The United States: A largest market for the equipment of fitness
United States is exhibiting the largest number of health clubs including their memberships (number of the members have been enrolled at the clubs) with a notable increase of growth rates. The studies of industrial research have been stating that during 2015, approximately 26 % of the entire households of U.S. having the income of household to be $100,000 or more, were found to be spending approximately $1,000 on the equipment of home fitness. The market of Asian Pacific fitness equipment is anticipated to be progressing over a forecasted timeline thus owing to an increase in the patients that were suffering from the diseases of cardiovascular. Furthermore, a rising disposable income from the population of middle-class is anticipated for increasing their expenditures on the goods of luxury. Japan is taking credit for the highest old people population in the Asian Pacific region with the consciousness of health amongst such population anticipated for getting fuelling up the market demand of the equipment of fitness. The market demand for the fitness equipment across Mexico and Argentina is anticipated for witnessing the growth as per the forecasted timeline. The rates of high obesity including the increasing penetration rates of memberships of health club across Mexico is enhancing the culture of cardiovascular fitness products’ adoption.
The Competitive Share of Market
The companies which are operating in the market of fitness equipment are including “Icon Health & Fitness, Johnson Health Tech, Brunswick Corporation, Amer Sports, Nautilus, Inc, Torque Fitness, and Technogym S.p.A”. The market of fitness equipment can be characterized by the significant mergers including the acquisitions for sustaining growth and increasing the market share of industry. For example, during the recent years, the brand Amer Sports is found to be acquiring a number of various companies like “Queenax and ENVE Composites”. During 2016, “Brunswick Corporations” had acquired “Cybex International” for the expansion of their cardiovascular and the strength equipment’s line.
The Key Market Players
Few key players are mentioned as under:
- ALPHA STRONG
- Adidas (Germany)
- POWER PLATE
- York Fitness(Australia)
- Johnson Health Tech Co. Ltd.
- Technogym S.p.A.
- ICON Health & Fitness
- Brunswick Corporation,
- TRUE Fitness Technology Inc.
- Kettler (GB) limited
- Matrix Fitness
- Octane Fitness.
- Impulse (Qingdao) Health Tech Co. Ltd.
- Torque Fitness LLC.
- Amer Sports Corporation, Nautilus, Inc.
- Core Health and Fitness LLC
- Gorilla Sports(Australia)
The Chinese Top Key Players
- KYLIN SPORT
The U.S Top Key Players
- CAP Barbell
- Fitness Republic
- Body Solid
- Body Sport
- Everyday Essentials
- Da Vinci
The Market Suppliers
The major suppliers of weight plates and rest of accessories are majorly located across Asia. The topnotch countries that are supplying include “China (Mainland), Hong Kong, and Pakistan” that are supplying “98%, 1%, and 1%” of weight plates respectively. Also the major dumbbell manufacturer and suppliers, are mainly located across Asia. The topnotch supplying countries are including “China (Mainland), Pakistan, and India”, which are supplying “99%, 1%, and 1%” of the dumbbell manufacturers respectively. The Dumbbell products are much popular across Northern America, the Western Europe, and the Eastern Europe.
Impact of technology on the demand of Dumbbells, Weight Plates and accessories
Technology is having massive impacts on every domain of business. By help of E-marketing the globalization of each and every trend is immensely progressing. Hence the trend of gym and workouts is rapidly increasing as today’s human are not much involved in the physical activities and this culture is progressing on daily basis. The physical activity of human is reducing to only the usage of fingers while using cellular gadgets or computers or while writing any prescription to patient to teaching. To add to this the human of day is consuming tons of processed food with the addition of high calorie drinks to add to it. Due to these lower levels of physical activities and unhealthy lifestyle the world is facing huge challenges of obesity, cholesterol control and so on. The technology is positively contributing by informing the people about the benefits of workouts with the availability of workout videos that could be followed at home if there is availability of few basic gym workout instruments. Moreover, the gym culture is increasing parallel with the increase in obese people which also require minimally basic instruments of gym. Thus such changes of lifestyles are adding to the high demand of dumbbells, weight plates and likely accessories as these are the basic and could be enough for a non-sporty person to shape up their bodies without any hectic.