Ken Research Pvt. Ltd
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Gurugram, India, July 28, 2022 (GLOBE NEWSWIRE) —
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Launch and expansion of approximately 50 hotel projects such as Marriott, Accor and Hilton as envisaged by 2030, is expected to act as a catalyst for the increased demand of fitness equipment required at their respective fitness facilities
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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
Growing Working Age Population and lifestyle diseases
Around 65.0% of the population in Egypt, majorly comprising of age group 25-40 years (working age population) suffers from lifestyle diseases which is expected spur in upcoming years due to unhealthy lifestyle and eating patterns making it mandatory for them to avail fitness services and invest 3-8 hours/week doing exercise. Also consumers belonging to this age group in Egypt 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.
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.
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Hybrid Clubs are the future
In upcoming future, the market will be driven by the hybrid clubs which are not only equipped with latest fitness equipment but will also offer bundled wellness services such as spa therapies, beauty services and salon services under a single roof. Collaboration of fitness centers with corporates, for instance, the Anytime Fitness Wellness Program encourages businesses to promote health and fitness levels of their employees are expected to increase revenues for fitness clubs and fitness equipment industry. It is also expected that the trend of 24-hour franchisee gym center will evolve in Egypt acquiring a …….
Source: https://finance.yahoo.com/news/egypt-fitness-equipment-market-expected-073500799.html