The Outdoor Fitness Equipment Market
Outdoor fitness equipment Market Expected to Reach $1.8 Billion by 2030
According to a new report published by Allied Market Research, titled, “Outdoor fitness equipment Market,” The outdoor fitness equipment market size was valued at $1.5 billion in 2020, and is estimated to reach $1.8 billion by 2030, growing at a CAGR of 4.3% from 2021 to 2030.
Any gear or device used during physical activity to regulate overall weight, boost physical stamina, and improve body muscles and endurance, is considered outdoor fitness equipment. It further aids in boosting the strength or conditioning advantages of physical workouts by giving either fixed or adjustable amounts of resistance, thus improving the experience or outcome of an exercise routine.
Outdoor training equipment are available in a range of shapes and sizes, with differing capabilities for working on different body parts. Obesity is caused by sedentary lifestyles, lack of time for physical activity, and consumption of unhealthy food across the world.
Growth Drivers
One of the primary factors driving the growth of the market, particularly in the developed regions such as Europe, is the growing incidence of obesity. Moreover, a rise in the number of outdoor gymnasiums and fitness center providers offering a variety of equipment and free to low-cost workout fees has boosted the number of people using outdoor fitness facilities, thus contributing toward the outdoor fitness equipment market growth.
Furthermore, key players in the global market are developing new equipment to provide a better experience, which is expected to foster the outdoor fitness equipment market opportunities for growth. However, consumers disregard outdoor gyms, as they believe the equipment are not well-maintained, leading to a larger risk of injury when using the equipment.
This had a negative impact on the market growth, as customers are drawn to joining commercial gyms or acquiring in-home fitness equipment to work out in the comfort of their own homes.
In addition, exercise equipment is expensive, and there is a strong need for outdoor fitness equipment maintenance, which raises the entire cost, thus hampering the market growth.
On the contrary, with the growing outdoor fitness market trends for fitness, outdoor gym owners are taking care of equipment and maintaining them up to the mark to attract consumers to work out in their open gyms, which is expected to offer remunerative opportunities for the expansion of the global market.
Demand For Outdoor
Moreover, public fitness events in open fitness centers have raised the goodwill of these non-profit fitness centers as consumers gain their interest and trust in the equipment and are ready to work out at open gyms, thus increasing the outdoor fitness equipment market demand.
The lack of low-cost regular maintenance hinders organizations from obtaining high-priced training equipment for fitness centers and parks.
The market’s scarcity of low-cost regular maintenance has created the potential for manufacturers to launch new solutions with the sale of items that would cover maintenance and support at a cheap cost and encourage organizations to purchase high-end exercise equipment. Offering dual exercise qualities will help to cut total product prices because the user will not need to acquire separate equipment.
For instance, a walker with an extended push-up bar will deliver two exercises in a single piece of equipment while reducing the cost of the product.
Segmentation
The global outdoor fitness equipment market is segmented into product type, application, and region. On the basis of type, the market is categorized into action series, heavy-duty series, and regular series. By application, it is segregated into public institutions, fitness parks and trails, government fitness centers, outdoor gyms, and others.
Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, India, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Chile, Saudi Arabia, and rest of LAMEA).
The players operating in the global outdoor fitness equipment market have adopted various developmental strategies to expand their outdoor fitness equipment market share, increase profitability, and remain competitive in the market.
The key players profiled in this report include Landscape Structures Inc., Beckmann, SportsPlay Equipment, Inc., Wicksteed Leisure Ltd., PlayCore Inc., Outdoor Fitness, Inc., Proludic Ltd., Xccent, Inc., the Great Outdoor Gym Company Ltd., and Kompan, Inc.
KEY FINDINGS OF THE STUDY
On the basis of product type, the action series segment is projected to witness the highest CAGR of 3.6%, in revenue terms, during the outdoor fitness equipment market forecast period. According to outdoor fitness equipment market analysis, by application, the fitness parks and trails segment, is expected to grow at a significant CAGR during the forecast period. The U.S.A. was the largest country, in terms of revenue generation for outdoor fitness equipment industry in 2020. Region wise, Asia-Pacific is anticipated to witness highest growth rate, registering a CAGR of 5.8% from 2021 to 2030.
