KSA Fitness Equipment Market is expected to expand at a CAGR of ~18.7% on the basis of Revenue in between 2021-2026: Ken Research
GURUGRAM, India, May 31, 2022 /PRNewswire/ --
March 2022
- Launch and expansion of approximately 163 hotel projects such as Radisson and Hyatt as envisaged by 2030, is expected to act as a catalyst for the increased demand of fitness equipment required at their respective fitness facilities.
- Consumers shifting preference towards availing digital fitness services followed by the advent of COVID-19 will positively contribute in accelerating the demand of home based fitness equipment such as yoga mats, resistance bands and dumbbells along with exercise bike, elliptical and treadmills in coming years.
Rise in Local Gyms and Fitness Clubs
Commercial and Private Fitness Centers in KSA
The fitness industry in KSA was once dominated by the wealthy and expats, now a new wave of local gyms and dance and martial arts studios are emerging to serve a fast-rising number of young, less affluent fitness enthusiasts. It is estimated that in between 2021 and 2026E, total number of members availing fitness services will be expanding at a CAGR of 13.3%. With the rapid expansion in the number of total members, the demand for fitness equipment is expected to surge in coming years.
Growing Working Age Population
Due to the increased awareness on health and hygiene followed by the advent of COVID-19, 46.4% of the overall population in KSA belonged to the working age population aged 25-54 years as of 2021, which is estimated to contribute to more than 50% by the end of 2030. Consumers belonging to this age group in KSA are health conscious individuals who in order to maintain physical health resort to various fitness related activities such as cycling, walking and gymming among others. With the rise in awareness on the importance of physical health, the demand for high end fitness equipment will witness a surge driven by consumers belonging to this age group.
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The future of Fitness Equipment Market is closely knit with expanding virtual fitness equipment market
The expanding virtual fitness market will spur the demand for high-quality fitness equipment that can be easily installed at homes. Busy working professionals prefer to undertake online fitness sessions to enjoy exercising in the comfort of their homes and as per convenience. In response to the growing home fitness equipment industry, market players are launching digitally connected solutions for consumers. Consumers are leveraging the benefits of digitally connected fitness equipment to enjoy a personalized training experience through online workout classes.
Future Opportunities for Fitness Equipment Market in KSA
Equipment distributors have an opportunity to cater to the surging demand of home based fitness equipment as consumers are preferring to avail fitness services at the comfort of their home post COVID-19, which in turn will contribute to the growth of digital fitness services and equipment market in coming years. Subsequently, launch and expansion of 163 hotel projects such as Radisson and Hyatt by the end of 2026 as envisaged by the government serve as an immediate opportunity for the equipment distributor's to collaborate in supplying with fitness clubs, centers, universities, and hotels among others the necessary equipment demanded for their facilities.
The publication titled "KSA Fitness Equipment Market Outlook to 2026: Driven by the growing demand of advanced fitness equipment by fitness clubs and government initiative to launch women centric fitness centers" provides a comprehensive analysis of the fitness equipment industry. The report covers various aspects including fitness equipment industry market size on the basis of on the basis revenue, market overview, value chain analysis, ecosystem, operating model, gym joining decision making parameters, SWOT analysis, major trends and developments, government initiatives promoting health awareness, and impact of COVID-19. Insights on competitive landscape of fitness equipment industry, list of importing and exporting companies in KSA, list of major distributors in KSA, and company profile of major players along-with cross comparison between fitness equipment distributors operating in the ecosystem on the basis of company overview, revenue generated, countries served, product portfolio, revenue streams, type of customers, serviced offered, strengths, weaknesses, major clientele and key partnerships is also covered in the report.
The report also covers trade scenario of fitness equipment (by imports and exports of fitness equipment from major countries), along-with end user analysis of demand side highlighting key demand clusters on the basis of region, customer decision making factors in joining fitness centers, target and service addressable market of KSA health and fitness industry. Further report also focuses on the KSA Fitness Equipment Market Segmentation by Type of End User (Commercial Fitness Centers & Health Clubs, Private Fitness Centers and Health Clubs, Office & Hotels, Home, and Universities) By Value (In USD Mn), By Location of Manufacturing (Import and Domestic Manufacturing) By Value (In USD Mn), By Type of Customer (B2B and B2C) By Value (In USD Mn). KSA Fitness Equipment Market report concludes with projections for the future of the industry including forecasted industry size by revenue by 2026, and analysts' take on the future highlighting the major opportunities.
Key Segments Covered in KSA Fitness Equipment Industry:-
KSA Fitness Equipment Market
- By Type of End User
- Private Sports Centers & Health Clubs
- Commercial Fitness Centers & Health Clubs
- Home
- Office & Hotels
- Universities
- By Import and Foreign Manufacturing
- Domestic
- Foreign
- By Type of Customer
- Business Entities (B2B)
- Private Individuals (B2C)
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KSA Offline Fitness Market Assessment
- Commercial (Exclusive/Boutique Centers, Popular Fitness Centers, and Local Gyms & Fitness Clubs)
- Hotels and Resorts (5 Star Hotels & Resorts, 4 Star Hotels & Resorts, and 3 Star Hotels & Resorts or Less)
- Fitness Equipment Import and Export Scenario on the basis of Revenue, By Country, 2016-2020
- Market Share of Major Distributors selling Cardio Vascular and Strength Training Equipment on the basis of Revenue, 2021
- Key Demand Clusters for Fitness Equipment, By Region, 2021
- KSA Fitness and Health Industry
- Target Addressable Market and Service Addressable Market in KSA Health and Fitness Industry
Key Target Audience:-
- Fitness Equipment Manufacturers
- Fitness Equipment Distributors
- Fitness Equipment Retailers and Importers
- Commercial and Private Fitness Centers
- Hotels & Resorts
- Government Bodies
Time Period Captured in the Report:-
- Historical Period: 2016-2021
- Forecast Period: 2021-2026F
Saudi Arabia Fitness Equipment Import Export Companies:-
KSA Fitness Equipment Industry Players/Ecosystem
- Manufacturers
- Cybex
- Precor
- Assault Fitness
- Life Fitness
- Sci Fit
- Sports Art
- Total Gym
- Life Span
- Nordic Track
- Bow Flex
- Distributors
- Delta Fitness
- A.A.S Group
- Wellness First
- HealthLines Fitness Equipment
- Athleco
- SPORTA
- Fit One
- Fitness Lines
- Pro Fit
- Top Level Co
- Importers
- Zaina International
- Reza
- Alesayi
- Drake & Scull
- Weatherford
- Modern Scientific and Electronic Corporation
- Retailers
- Sun & Sand Sports
- U-Mark Sport
- Active Fitness Store
- Sports World
- El Faleh
- Commercial Fitness Centers
- Fitness Time
- Diva Fitness
- Arena
- Gold's Gym
- Nu Yu Fitness
- Studio Fifty Five
- Private Fitness Centers
- EMAAR Saudi Arabia
- Alaqeeq Holding
- Aramco
- Bupa Arabia
- Al Fanar
- RTCC
- Astra Construction
- Hotels & Resorts
- Intercontinental Hotels & Resorts
- Melissa Hotel
- Holiday Inn
- Four Points by Sheraton
- The Ritz Carlton
- Marriott
- Novotel
- Crowne Plaza
- Associations
- Ministry of Industry and Commerce
- Ministry of Sport
- Ministry of Environment, Water and Agriculture
Key Topics Covered in the Report:-
- Socio Demographic and Economic Outlook of Saudi Arabia
- Overview of Fitness Equipment Market in KSA
- Ecosystem of KSA Fitness Equipment Market
- Value Chain Analysis of KSA Fitness Equipment Market
- Operating Model of Fitness Equipment Distributors in KSA
- KSA Fitness Equipment Market Size on the basis of Revenue
- KSA Offline Fitness Market Assessment
- KSA Fitness Equipment Market Segmentation (By Type of End User, By Domestic and Foreign Manufacturing, and By Type of Customer)
- SWOT Analysis
- Trends and Developments
- Government Initiatives in the Fitness Sector
- Economic Impact of Fitness Centers in KSA (Direct and Indirect)
- Fitness Equipment Importing and Exporting Companies in KSA (Number of Product or Service Categories Traded, Number of Employees, Country, and City)
- Impact of COVID-19 on Fitness Industry in KSA
- List of Fitness Equipment Distributors in KSA (Year of Establishment, Location, Contact, Mail Id, Country of Operation, and Brand Association)
- Market Share of Major Distributors selling Cardio Vascular and Strength Training Equipment on the basis of Revenue
- Cross Comparison of Major Fitness Equipment Distributors in KSA (Year of Establishment, Number of Employees, Revenue Generated, Countries Served, and Product Portfolio)
- Fitness Equipment Manufacturers in Saudi Arabia
- Company Profile of Fitness Equipment Distributors in KSA (Company Overview, Revenue Streams, Type of Customers, Services Offered, Strengths, Weaknesses, Major Clientele, and Key Partnerships)
- Key Demand Clusters for Fitness Equipment in KSA, By Region
- Identifying the Customer Cohorts in KSA Health and Fitness Market
- Customer Decision Making Factors Fitness Centers
- Customer Mind-set for Fitness in KSA
- Target Addressable Market and Service Addressable Market in KSA Health and Fitness Industry
- Analyst Recommendations
- Fitness Equipment Distributors in KSA
- Saudi Arabia Fitness Equipment Distributors
- KSA Online Fitness Market Assessment
- KSA Offline Fitness Market Assessment
- Fitness Equipment Import Export Companies in KSA
- Saudi Arabia Fitness Equipment Import Export Companies
- Fitness Equipment Manufacturers in KSA
- Fitness Equipment Manufacturers in Saudi Arabia
- Commercial and Private Fitness Centers in KSA
- Private Sports Centers in KSA
- Cybex Fitness Equipment Market
- Precor Fitness Equipment Market
- Assault Fitness Equipment Market
- Life Fitness Equipment Market
- Sci Fit Fitness Equipment Market
- Sports Art Fitness Equipment Market
- Total Gym Fitness Equipment Market
- Life Span Fitness Equipment Market
- Nordic Track Fitness Equipment Market
- Bow Flex Fitness Equipment Market
- Arena Fitness Center Market
- Gold's Gym Fitness Center Market
- Nu Yu Fitness Center Market
- Studio Fifty Five Fitness Center Market
- Athleco Fitness Equipment Distributor Market
- SPORTA Fitness Equipment Distributor Market
- Fit One Fitness Equipment Distributor Market
- Active Fitness Store Equipment Market
- Sports World Fitness Equipment Market
For More Information on the research report, refer to below link:-
Related Reports:-
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The fitness market in Qatar has witnessed strong growth with a considerable expansion in the number of boutique and budget fitness centers directly contributing to the economy. Rise in Personal Disposable Income, High Rates of Obesity, Rising Awareness about Health & Fitness, Increased Investment in Ladies Fitness Centres, Government Initiatives and to overcome health issues such as diabetes and cancer has been the major key factors which drives the demand for fitness services centers in Qatar.
Egypt fitness equipment market expanded at a CAGR of ~9.1% in between 2016 and 2021 with considerable expansion in commercial fitness centers in which popular fitness centers and women centric fitness club dominated the market. Government initiatives such as National Sports Day and Annual sponsored fitness events like Marathon Cairo event, 100 Million Heath and "Your Bike, Your Health" campaign are taken up by the government to improve physical conditions of people coupled with rising health concerns such as obesity, diabetes and cardiovascular diseases due to unhealthy lifestyle, inclination of consumers to undertake online fitness sessions to enjoy exercising in the comfort of their homes and as per their convenience are the major determinant to drive the growth of fitness equipment industry. Surging demand of fitness equipment suitable for home/residential purposes post COVID-19 is also contributing in the growth of fitness equipment market.
In 2020, fitness equipment industry experienced a temporary downfall owing to the impact of COVID-19 on industry leading to closure of the fitness centers and health clubs due to country wide lockdown. With mandatory protocol such as to avoid physical contact and maintenance of social distancing to prevent the transmission of virus restrained a major chunk of population from availing fitness services in fitness centers and health clubs. These factors have however led to increased demand of home-based fitness equipment and adaptation to digital fitness services as people preferred to follow fitness regimes at their home to ensure safety. Also, increased awareness on health and hygiene followed by the advent of COVID-19 is acting as a catalyst for the shift in consumer's preference towards availing digitally connected solutions for their fitness routine.
UAE fitness equipment market witnessed strong growth between 2016 and 2021 with considerable expansion in commercial fitness centers in which boutique and women centric fitness center dominated the market along-with growth in home-based fitness equipment industry. The factors such as rapid urbanization with influx of foreign population, rising disposable income of the consumers, rising health concerns such obesity, diabetes and cardiovascular diseases due to unhealthy lifestyle, inclination of consumers to undertake online fitness sessions to enjoy exercising in the comfort of their homes and as per their convenience collaborated with home-based fitness equipment post pandemic along-with various government initiatives and corporate wellness program are the major factors driving the growth of fitness equipment market. In 2020, fitness equipment industry experienced a temporary downfall owing to the impact of COVID-19 on industry leading to closure of the fitness centers and health clubs due to country lockdown. With mandatory protocol such as to avoid physical contact and maintenance of social distancing to prevent the transmission of virus restrained a major chunk of population from availing fitness services in fitness centers and health clubs. These factors have however led to increased demand of home-based fitness equipment as people preferred to follow fitness regimes at their home to ensure safety.
The fitness market in Algeria is an underpenetrated market with one of the lowest penetration rates in the MENA market. Rising awareness about health risks of a sedentary lifestyle and adoption of tech innovations for connectivity and inventive training approaches are fueling the market growth. The participation of women is on the rise as trainers, fitness influencers, and entrepreneurs in fitness industry, thereby increasing the female memberships and employment.
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