The Weight Training Market is likely to hold the global market at a moderate CAGR of ~3% during the forecast period. The global market holds a forecasted revenue of ~US$ 12.1 Billion in 2022 and is likely to cross ~US$ 16.26 Billion by the end of 2032.
The Weight Training market is anticipated to show promising growth prospects during the forecast period, expanding the Weight Training market size.
| Attribute | Details |
|---|---|
| The Weight Training Market Estimated Size (2021) | ~US$ 11.8 Billion |
| The Weight Training Market Estimated Size (2022) | ~US$ 12.1 Billion |
| The Weight Training Market Projected Size (2032) | ~US$ 16.26 Billion |
| The Weight Training Market CAGR (2022 to 2032) | ~3% |
Weight training is often included in daily schedule for gaining muscles and getting stronger. It is a type of strength training that targets the muscles of the body by using weights or weight machines. Lifting weights is essential for physical strengthening. Numerous advantages of weight training include the development of stronger bones, stronger muscle joints, and lean muscle tissues, all of which aid in strengthening body and lose body fat, leading to weight loss.
Strength training enhances physical activity and general health. Resistance, bands, weights like dumbbells and barbells, stack weights and plate machines, cable and pulley machines, and other apparatus are all used for weight training.
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The driving trends for the weight training market are increasing awareness about obesity and unhealthy lifestyle, increasing demand of gyms due to urbanisation and expanding advertisements and promotional activities for fitness programmes. Majority of the population all over the world is suffering from obesity and diabetes. These are chronic diseases and affect daily lifestyle of an individual. There are certain dangers of obesity, as it leads to other diseases. There are health complications requiring surgeries to solve them. To avoid all these complications, people are going to gyms and starting exercising daily.
More and more people are starting a fitness programme at local gyms or on their own using fitness applications or online trainers. These applications and trainers give advices and personalised diets to help reducing or gaining weight, along with all this routine, mild weight training is also included.
The main restraints to the weight training market are high cost of equipment and setups for weight training and increasing resale of the equipment instead of purchasing new ones.
The weight training equipment are made using steel and other materials, and these materials are expensive. The equipment like dumbbells and weights plates are available in different forms and weights, and as they change, material required also increases, increasing the cost of manufacturing. The dumbbells are always found in pair and weight plates are also available in set of multiple weights. Such package makes them expensive. So, when it comes to buying a personal weight training equipment set, many people cannot afford them.
Setting and maintaining a programme that includes exercise is really challenging. People buy exercise equipment, work out for a few days, and then eventually give up. People resale the equipment at a loss to make some money because it is just sitting around. Getting new or barely used equipment at cheaper costs draws customers and hence lower pricing for sales from retailers and manufacturers has a negative effect on the market.
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Asian countries are observing rise in awareness about healthy lifestyle and wellbeing. In last few years, Asian countries were recorded for highest obesity rates. People from these countries are getting aware of the adverse effects of obesity and have started following healthy lifestyle. Population from China, India, South Korea and Japan have surge of demand of fitness equipment in recent years. Adverse effects of COVID-19 have also fuelled the sales of fitness and weight equipment.
Australian gyms and household fitness equipment market might fall down, as gyms are reopening prior to lockdown. During lockdown, people started to purchase fitness equipment and weights to train at home. These ‘Gyms’ were car garages and bedrooms with bunch of weights, treadmills and cycles and bench presses. As gyms are opening, people are giving up working at home due to lack of space and ventilation. There might be increase in sales of second hand gym equipment all over Australia.
Some key players in the Weight Training market are Wellness Holding Srl (Technogym S.p.A), Powertec, Brunswick Corporation (Life Fitness, Cybex International Inc.), American Barbell Gym Equipments, IHF Holdings Inc. (ICON Health and Fitness Inc), Amer Sports (Precor) and others.
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| Attribute | Details |
|---|---|
| Growth Rate | CAGR of ~3% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical Data Available for | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative units | Revenue in USD Billion, volume in Units, and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, pricing analysis |
| Segments covered | Product, End User, Price Range, Distribution Channel, Region |
| Country scope | USA, Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, India, Thailand, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, South Africa |
| Key Companies Profiled | Powertec; IHF Holdings Inc. (ICON Health and Fitness Inc); Wellness Holding Srl (Technogym S.p.A); Brunswick Corporation (Cybex International Inc.); Amer Sports (Precor); American Barbell Gym Equipments; Others |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
The Weight Training market is expected to reach a valuation of ~US$ 12.1 Bn in 2022.
Increasing awareness about adverse effect of obesity, urbanisation and fitness promotional activities all around the world are driving the weight training market. Along with above mentioned factors, COVID-19 also helped in realisation of healthy lifestyle, helping the market.
Leading players operating in Weight Training market are Wellness Holding Srl (Technogym S.p.A), Powertec, Brunswick Corporation (Life Fitness, Cybex International Inc.), American Barbell Gym Equipments, IHF Holdings Inc. (ICON Health and Fitness Inc), Amer Sports (Precor) and among others.
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Weight Training Market
