Global Refurbished Fitness Equipment Market Is Expected to Generate $1.9 Billion by 2031: Allied Market Research
Increase in consumer interest in health and fitness serves as a potential opportunity for the expansion of the global refurbished fitness equipment market. Based on type, the cardio equipment segment held the highest share in 2021. Based on region, North America held the largest share in 2021, contributing to more than two-fifths of the global refurbished fitness equipment market share.
Portland, OR, Jan. 24, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global refurbished fitness equipment market garnered $1.1 billion in 2021, and is estimated to generate $1.9 billion by 2031, manifesting a CAGR of 5.7% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.1 billion |
| Market Size in 2031 | $1.9 billion |
| CAGR | 5.7% |
| No. of Pages in Report | 234 |
| Segments covered | Type, End User, Distribution Channel, and Region. |
| Drivers | Surge in the number of gyms and fitness centers Lower prices |
| Opportunities | Increase in consumer interest in health and fitness |
| Restraints | Quick breakdowns of refurbished fitness equipment |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global refurbished fitness equipment market, owing to implementation of global lockdown which resulted to temporary closure of all gyms and fitness centers.
- Post the pandemic, there was a significant increase in the demand for refurbished fitness equipment due to consumers building their own gyms at home in order to stay away from crowded gyms.
The research provides detailed segmentation of the global refurbished fitness equipment market based on Type, End User, Distribution Channel, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on type, the cardio equipment segment held the highest share in 2021, accounting for more than two-thirds of the global refurbished fitness equipment market, and is expected to continue its leadership status during the forecast period. However, the weight training equipment segment is expected to register the highest CAGR of 6.2% from 2022 to 2031.
Based on end user, the residential segment accounted for the highest share in 2021, contributing to around four-fifths of the global refurbished fitness equipment market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the commercial segment is expected to manifest the highest CAGR of 5.9% from 2022 to 2031.
Based on distribution channel, the online channels segment accounted for the highest share in 2021, holding nearly three-fifths of the global refurbished fitness equipment market, and is expected to continue its leadership status during the forecast period. This segment is estimated to grow at the highest CAGR of 5.9% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to more than two-fifths of the global refurbished fitness equipment market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 6.4% during the forecast period.
Leading market players of the global refurbished fitness equipment market analyzed in the research include Best Used Gym Equipment, Brunswick Corporation, F1 Recreation Pte Ltd, FitKit UK Ltd, Fitness Superstore, Inc., Global Fitness, Inc., Grays Fitness, Gym Experts, Gymkit UK, Johnson Health Tech. Co., Ltd., Myhomefitness.ie, Fitline India Pvt. Ltd., Origin Fitness Ltd., Marangi Fitness Professionals, Inc., Pro Gym Supply, Inc., Rebirth Fitness, THINK Fitness Co., Ltd., Total Fitness Concept Sp. z o.o., UK Gym Equipment Ltd., and USA Fitness Equipment Depot.
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The report provides a detailed analysis of these key players of the global refurbished fitness equipment market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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