Sunday Apr 02, 2023

UAE Fitness Equipment Market is expected to expand at a CAGR of ~3.2% in terms of Revenue Generated and Growth Rate in between 2021-2026: Ken Research – Yahoo Finance

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GURUGRAM, India, June 13, 2022 /PRNewswire/ —

March 2022

  • COVID-19 era has prompted businesses to strengthen their digital presence in order to attract individual consumers as their preferences have shifted to home-based fitness activities.

  • With UAE emerging as the major leisure and entertainment hub a massive growth is seen in the wellness tourism industry wherein tourist is concerned in maintaining their daily fitness routine during their stay in UAE.

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Change in ideology of native residents

With influx of a foreign population over the last decades there has been a considerable change in the pattern of lifestyle due to shift in ideology from conservative to open-minded wherein people are more willing to indulge in fitness activities along with major concerns towards women fitness are taken consideration.

Shift in Consumer Preference towards availing home based fitness regimes

Even though the UAE Fitness Equipment Market witnesses a slowdown post 2018, but with the advent of COVID-19 it is contributing towards the positive outlook of the industry. Increased awareness on health and hygiene is acting as a catalyst for the shift in consumer’s preference to home-based fitness regimes as per their convenience which has led to increase in demand for home based fitness equipment. The shift in consumer’s preference is expected to contribute in the growth of fitness equipment in coming years.

Collaboration of digital solutions with fitness regimes will drive the market

Companies are focusing on launching differentiated products to solidify their position and capture a large market share. For instance, in October 2019, Nautilus Inc. unveiled a digital platform JRNY that incorporates AI to offer tailored workouts that adjust automatically with the user. With the launch, the company aims to offer enhanced solutions to its customers. Similarly, Matrix Fitness offers a training console that offers a guided strength training experience. In February 2021, Technogym S.p.A launched MyRun, a home treadmill with on-demand training experiences designed to offer customized walking or running programs suitable for users of all levels, from beginners to sports enthusiasts.

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.

The publication titled “UAE Fitness Equipment Market Outlook to 2026: Driven by rising disposable income, increasing health concerns, growth of commercial fitness centres and home based fitness equipment” 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 of market revenue and growth rate, market overview, value chain analysis, ecosystem, operating model, gym joining decision making …….

Source: https://finance.yahoo.com/news/uae-fitness-equipment-market-expected-133000306.html

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