Gym equipment refers to any apparatus or device used during physical activity to manage the overall weight, improve physical stamina, and develop body muscles and strength. It further aids in enhancing the strength or conditioning effects of the physical exercises by providing either fixed or adjustable amounts of resistance, therefore enhancing the experience or outcome of an exercise routine. This equipment is available in a selection of styles with different characteristics to work on each part of the human body.
Furthermore, outdoor gym equipment is designed for open spaces that may be public or private. This equipment helps people exercise and train in the open space for free. Outdoor gym equipment is similar to indoor gym equipment when it comes to providing benefits. The only basic difference is that of the installation place. Some of the most commonly used fitness equipment are bicycles, ellipticals, strength building machines, stretching machines, weightlifting machines, and others.
The increasing health concerns and awareness among individuals and initiatives taken by governments worldwide to motivate people to join fitness centers are anticipated to boost the growth of the outdoor gym equipment market during the forecast period. However, a lack of expert training professionals may restrict the market growth.
The hectic schedule and long hours of working, crowded fitness centers, and vehicle parking problems have resulted in an increasing number of consumers actively inclining towards outdoor gyming. Outdoor gymming eliminates the inconvenience of commuting to a gym to use the machines and are highly cost-effective in the long run. The small, recurring cost incurred in trainer fees and membership fees is a major factor promoting consumer inclination for outdoor gyming; therefore promoting the growth of the outdoor gym equipment market.
Furthermore, the rising preference of consumers towards a healthy and fit lifestyle is also one of the primary factors driving the outdoor gym equipment market growth. Rapid urbanization, sedentary lifestyles, and lack of physical activities leading to several diseases, such as diabetes, cardiovascular diseases, obesity, etc. have led to a rise in the concerns related to health and how to tackle it, shifting consumers focus towards a healthy lifestyle. As per the Global Burden of Disease report presented by the World Health Organization, approximately 4 million people died of obesity globally in 2017.
In addition to this, at the global level, around 1.9 billion adults were overweight, of which 650 million people were obese. Moreover, nearly 38 million children under the age of five were either overweight or obese in 2019. The increase in the population inclined towards fitness and opting for healthy choices is expected to boost the market growth. As per the IHRSA Global Report, the global fitness industry revenue totaled 94 USD billion in 2019, which shows that people are making a shift towards a healthy lifestyle and are concerned about their growing health problems. The growth in government initiatives in various countries across the globe, which aims to promote a healthy lifestyle, also plays an important role in driving the market growth.
The inclination towards working out in fresh air by the young and the geriatric population is anticipated to propel the growth of the global outdoor gym equipment market. Both prefer outdoor gymming due to various benefits provided by it, such as it lowers blood pressure, reduces stress, alleviates insomnia, and usually free of charge. Furthermore, the fresh air and natural light stimulate and provide more energy to the mind and body of the individuals. In addition to this, it helps them to enjoy nature while working out as hectic schedules don't allow people to go and enjoy the beauty of nature. Therefore, the growing interest of young and elderly people along with the increase in their population will boost the market growth.
According to the Department of Economics and Social Affairs, the United Nations (UN DESA), there were about 1.2 billion youth aged 15 to 24 years in the world, or 16 % of the global population in 2019, which is expected to peak at nearly 1.4 billion persons around 2065. On the other hand, the total population of the world was estimated to be 7.7 billion in 2019, which is anticipated to reach 11.2 billion by the end of the century. Out of this population, older people accounted for more than one-fifth of the population in 17 countries and it is projected by the department that it will reach 155 countries, covering a total of 61% of the world's population, therefore, augmenting the demand for outdoor gym equipment during the forecast period.
The cost of most of the outdoor gym equipment is high in the market and their installation, and maintenance charges also demand high costs, which may restrict the growth of the market in the long run. Furthermore, the dearth of experts to train people on proper usage of these machines or equipment is also responsible for acting as a restraining factor and hindering the market growth.
Based on geography, the Outdoor Gym Equipment market is categorized into North America, Europe, Asia-Pacific, Central and South America and the Caribbean, the Middle East, and Africa. North America is expected to hold the largest share in the market during the forecast period. The growth can be attributed to the rising prevalence of various chronic diseases due to sedentary lifestyles, hectic work schedules, and lack of physical activities.
According to the statistics shared by the U.S. Department of Health and Human Services (HHS), Americans are affected the most by acute and chronic pain arising because of several health issues. It is one of the prime causes for a patient's visits to healthcare facilities, which has made it the foremost cause of disability and also contributes on a large scale to healthcare costs. Therefore, individuals are concerned about their health and are now focusing on keeping themselves fit by adopting exercises related to physical wellbeing, weight management, improving body stamina, and muscular strength, which will boost the growth of the global outdoor gym equipment market.
In addition to this, a large obese or overweight population base in North America is also anticipated to fuel market growth. According to the Trust for America's Health, the U.S. adult obesity rate stands at 42.4% and is estimated to increase healthcare spending by 149 USD billion annually. Furthermore, growing initiatives taken by governments are also expected to boost the growth of the market in the region. For instance, the U.S. President's Council on Fitness, Sports & Nutrition promotes programs and initiatives that encourage individuals of all ages, backgrounds, and abilities to lead active and healthy lives.
Asia-Pacific is anticipated to be the largest region for the global outdoor gym equipment market. The increase in the disposable income of the population and rapid economic growth in the region have led to changes in lifestyles and a rise in spending at fast-food restaurants, leading to unhealthy lifestyles. As a result, there has been an increase in the incidence of lifestyle-related diseases such as obesity, diabetes, heart disease, high blood pressure, and other bone diseases.
The increase in lifestyle-related diseases has led to a rise in the awareness among people of the long-term consequences of these diseases and has helped in encouraging them to stay in shape by working out, which is expected to boost the demand for outdoor gym equipment in the region. In addition to this, rapid industrialization, growing youth population across countries, such as India, China, etc., increase in chronic diseases, and strategies implemented by the global players for expansion in the region will boost the outdoor gym equipment market during the forecast period.
The outdoor gym equipment market has several big as well as small key players. These players have been adopting strategies, such as new product launches, mergers and acquisitions, collaborations, tie-ups, agreements, partnerships, etc., to retain their position and increase their market share.