The global Aqua Gym Equipment Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global aqua gym equipment market was worth at USD 512.9 million in 2018 and it is expected to reach USD 722.3 million, by 2025, according to a new report by Million Insights. The market is projected to grow with a CAGR of 5.01% over the forecast period. Increasing focus on physical appearance and overall well-being are driving the market.
Key Players:
- PlayCore
- AquaJogger
- Acquapole sas
- TEXAS REC
- Hydro Fit Inc
- BECO-Beermann GmbH & Co. KG
- Be Aqua Pte Ltd
- Aqua Gear Inc.
- HydroWorx International, Inc
- Sprint Aquatics
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Growth Drivers:
Increasing awareness among consumers about the importance of healthy lifestyles has positively affected the market growth. There has been a significant rise in consumers’ spending on personal well-being. The sale of gym equipment for both commercial and personal use is increasing. Aqua gyms are getting more traction among the urban populations than rural ones.
Growing fitness drive from corporate and government are encouraging people to spend more on the fitness equipment. The number of people joining fitness centers, aqua gyms and regular gyms has increased considerably over the past years. Leading corporates companies such as Google, Microsoft, IBM and others regularly conduct fitness sessions to boost the overall health of their employees. This ongoing trend centered on fitness is expected to proliferate the market growth over the forecast period. Further, rising obesity across the globe is projected to positively drive the aqua gym equipment market. In the United States alone, nearly 70% of adults are obese. Thus, the rising number of obese population and growing awareness about the ill effects of obesity are set to propel the market growth.
Distribution Channel Outlook:
- Department Stores and Supermarkets
- Specialty Store
- Online
Product Outlook:
- Cardiovascular equipment
- Strength training equipment
Regional Insights:
North America accounted for the largest share with over 40%, in 2018. Factors such as, increasing awareness among consumers and changing priorities where medicine-free life is getting traction, are driving the growth of the market in the region. Moreover, consumers’ spending on health and fitness has surged considerably in the recent past.
Asia Pacific is projected to exhibit the fastest CAGR of 6.58% among all regions over the forecast period. Rising health awareness among consumers and increasing purchasing power is propelling the growth in this region. Among all Asian Pacific countries, China held the largest market share, in 2018 and its market share is expected to reach USD 63.8 million, by 2025.
COVID-19 Impact Insights:
The fitness industry has been at receiving end ever since the outbreak of COVID-19. Gyms, fitness clubs and store selling fitness equipment have been closed in several parts of the world to arrest the spread of COVID-19. Aqua gym, in particular, is more prone to COVID-19 spread as maintaining the proper social distancing and hygiene can be challenging. Therefore, the industry has witnessed a considerable decline in the second and third quarters of 2020. Nonetheless, with restriction in lockdown norms, aqua gyms have resumed their operations, albeit with some restrictions. However, the industry would continue to witness sluggish growth until the full operation of aqua gyms is resumed.
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