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)
Market Introduction
The Europe Connected Gym Equipment market is further segmented into Germany, France, Italy, the UK, Russia, and Rest of Europe. Digital transformation is a new trend across the region's, due to the high digital transformation pace. This results in an increasing demand for innovative devices, such as connected gym equipment. Further, the growing awareness of advanced technology features is expected to boost the adoption of connected gym equipment’s. As per European Health & Fitness market report 2020, there was a significant increase in the number of health club and fitness members. People in Europe are very much aware regarding their health and physique. Crunch and Gold’s Gym are among the first clubs that is offering high quality virtual sessions for their customers. Gold’s Gym International, Inc. is offering a digital personal training app, Gold’s AMP, which provides pre-recorded video trainer sessions along with built-in music streaming service. An increase in the count of gyms in Europe will likely support the growth of this market. With the growing digital fitness market, it is witnessed that wearable health tracking devices, such as fitness bands and smart watches, are becoming very popular in this region. Particularly, millennial generation has adopted the digital fitness trend and is utilizing health and sports apps more than any other age group. Connected gym equipment market, whether commercial or residential is expected to achieve a significant growth in near future in Europe.
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.
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Market Overview and Dynamics
The Europe connected gym equipment market is expected to grow from US$ 175.89 million in 2021 to US$ 1,009.16 million by 2028; it is estimated to grow at a CAGR of 28.3% from 2021 to 2028. Changing smart fitness technology will escalate the market in coming years. It is not surprising that technology is increasingly making a place within people’s fitness routines. Consumer mindset is changing, they are not only working out to shape their bodies or to stay fit, but also to enhance their mental health and prevent various infections. Europe market is observing the launch of new fitness devices, which are technologically innovative and digitally advanced. Market for home connected gym equipment is witnessing significant rise since last few years. Several subscription options are available considering price, timing, and activity for each segment of customer in different applications. Fitness trackers are getting modified day by day. Apple has included an electrocardiogram (ECG) function, which provides a more detailed analysis about the users’ heart health. Fitbit’s new watch functions with more advanced heart rate sensors that use algorithms to reveal insights about user’s heart. Virtual coaching and training are becoming a needful tool in today’s fitness. Several apps help users to simulate the experience of having a personal training class with an instructor by their headphones. So, the transforming fitness technology will drive the Europe connected gym equipment market in coming years.
Key Market Segments
In terms of type, the cardiovascular training segment accounted for the largest share of the Europe connected gym equipment market in 2020. In terms of end-users, the gym segment held a larger market share of the Europe connected gym equipment market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Europe connected gym equipment market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Cybex International, Inc.; Draper, Inc.; EGYM; Johnson Health Tech; LES MILLS INTERNATIONAL LTD; Life Fitness; Nautilus, Inc.; and Technogym S.p.A.
Reasons to buy report
- To understand the Europe connected gym equipment market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe connected gym equipment market
- Efficiently plan M&A and partnership deals in Europe connected gym equipment market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe connected gym equipment market
- Obtain market revenue forecast for market by various segments from 2021-2028 in Europe region.
Europe Connected Gym Equipment Market Segmentation
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
Europe Connected Gym Equipment Market - Company Profiles
- Cybex International, Inc.
- Draper, Inc.
- EGYM
- Johnson Health Tech
- LES MILLS INTERNATIONAL LTD
- Life Fitness
- Nautilus, Inc.
- Technogym S.p.A
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Connected Gym Equipment Market – By Type
1.3.2 Europe Connected Gym Equipment Market – By End-Users
1.3.3 Europe Connected Gym Equipment Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Connected Gym Equipment Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Europe Connected Gym Equipment Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Increasing Health Concerns
5.1.2 Rising Technological Advancement in Connected Gym Equipment
5.2 Key Market Restraints:
5.2.1 High Initial and Maintenance Cost
5.3 Key Market Opportunities:
5.3.1 Growing Demand for Residential Connected Gym Equipment
5.4 Key Market Trends:
5.4.1 Changing Smart Fitness Technology
5.5 Impact Analysis of Drivers and Restraints
6. Connected Gym Equipment Market – Europe Analysis
6.1 Europe Connected Gym Equipment Market Overview
6.2 Europe Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
7. Europe Connected Gym Equipment Market Analysis – By Type
7.1 Overview
7.2 Europe Connected Gym Equipment Market Breakdown, By Type (2020 and 2028)
7.3 Cardiovascular Training
7.3.1 Overview
7.3.2 Cardiovascular Training: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
7.4 Strength Training
7.4.1 Overview
7.4.2 Strength Training: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
8. Europe Connected Gym Equipment Market Analysis – By End-Users
8.1 Overview
8.2 Europe Connected Gym Equipment Market, By End-Users (2020 and 2028)
8.3 Residential
8.3.1 Overview
8.3.2 Residential: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
8.4 Gym
8.4.1 Overview
8.4.2 Gym: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
8.5 Other Commercial Users
8.5.1 Overview
8.5.2 Other Commercial Users: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
9. Europe Connected Gym Equipment Market – Country Analysis
9.1 Overview
9.1.1 Europe: Connected Gym Equipment Market, by Key Country
9.1.1.1 Germany: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 Germany: Connected Gym Equipment Market, by Type
9.1.1.1.2 Germany: Connected Gym Equipment Market, by End-Users
9.1.1.2 France: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 France: Connected Gym Equipment Market, by Type
9.1.1.2.2 France: Connected Gym Equipment Market, by End-Users
9.1.1.3 Italy: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Italy: Connected Gym Equipment Market, by Type
9.1.1.3.2 Italy: Connected Gym Equipment Market, by End-Users
9.1.1.4 UK: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 UK: Connected Gym Equipment Market, by Type
9.1.1.4.2 UK: Connected Gym Equipment Market, by End-Users
9.1.1.5 Russia: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 Russia: Connected Gym Equipment Market, by Type
9.1.1.5.2 Russia: Connected Gym Equipment Market, by End-Users
9.1.1.6 Rest of Europe: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of Europe: Connected Gym Equipment Market, by Type
9.1.1.6.2 Rest of Europe: Connected Gym Equipment Market, by End-Users
10. Europe Connected Gym Equipment Market- COVID-19 Impact Analysis
10.1 Europe
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 EGYM
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Life Fitness
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 LES MILLS INTERNATIONAL LTD
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Technogym S.p.A
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Cybex International, Inc.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Johnson Health Tech
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Draper, Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Nautilus, Inc.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Europe Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. Europe Connected Gym Equipment Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. Germany: Connected Gym Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. Germany: Connected Gym Equipment Market, by End-Users – Revenue and Forecast to 2028 (US$ Million)
Table 5. France: Connected Gym Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. France: Connected Gym Equipment Market, by End-Users – Revenue and Forecast to 2028 (US$ Million)
Table 7. Italy: Connected Gym Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Italy: Connected Gym Equipment Market, by End-Users – Revenue and Forecast to 2028 (US$ Million)
Table 9. UK: Connected Gym Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. UK: Connected Gym Equipment Market, by End-Users – Revenue and Forecast to 2028 (US$ Million)
Table 11. Russia: Connected Gym Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. Russia: Connected Gym Equipment Market, by End-Users – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of Europe: Connected Gym Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of Europe: Connected Gym Equipment Market, by End-Users – Revenue and Forecast to 2028 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Connected Gym Equipment Market Segmentation
Figure 2. Europe Connected Gym Equipment Market Segmentation – By Country
Figure 3. Europe Connected Gym Equipment Market Overview
Figure 4. Cardiovascular Training Segment held the Largest Share of Europe Connected Gym Equipment Market
Figure 5. Gym segment held the Largest Share of Europe Connected Gym Equipment Market
Figure 6. Germany to Show Great Traction During Forecast Period
Figure 7. Europe – PEST Analysis
Figure 8. Europe Connected Gym Equipment Market Ecosystem
Figure 9. Expert Opinions
Figure 10. Europe Connected Gym Equipment Market Impact Analysis of Drivers and Restraints
Figure 11. Europe Connected Gym Equipment Market - Revenue and Forecast to 2028 (US$ Million)
Figure 12. Europe Connected Gym Equipment Market Breakdown, By Type (2020 and 2028)
Figure 13. Europe Cardiovascular Training: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
Figure 14. Europe Strength Training: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
Figure 15. Europe Connected Gym Equipment Market Breakdown, By End-Users (2020 and 2028)
Figure 16. Europe Residential: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
Figure 17. Europe Gym: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
Figure 18. Europe Other Commercial Users: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
Figure 19. Europe: Connected Gym Equipment Market, by Key Country – Revenue (2020) (USD Million)
Figure 20. Europe: Connected Gym Equipment Market Revenue Share, by Key Country (2020 and 2028)
Figure 21. Germany: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. France: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Italy: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. UK: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Russia: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Rest of Europe: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Impact of COVID-19 Pandemic in Europe Country Markets
- Cybex International, Inc.
- Draper, Inc.
- EGYM
- Johnson Health Tech
- LES MILLS INTERNATIONAL LTD
- Life Fitness
- Nautilus, Inc.
- Technogym S.p.A
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