Chile Fitness Equipment Market Overview, 2027

Fitness equipment comprises all machines and monitoring devices required for various physical exercises. The fitness industry has substantially grown in terms of gym models along with a holistic concept of fitness by offering dedicated fitness equipment to an individual. The top factors influencing the market's growth include the global rise in the obese population; the surge in disposable income in developing countries; and the increase in the young population across developing regions. Based on these drivers, the Chile fitness equipment market has also been evolving at a decent pace in recent years as people have become enthusiastic about fitness. An increasing sedentary lifestyle across the world is driving the demand for fitness equipment. Also, a rising number of fitness service providers and centres is fueling the growth of the fitness equipment market. Various service providers are offering packages and discounts for weight loss program to attract maximum consumers. All these factors are having a positive impact on the growth of the fitness equipment market across the country.

According to the report, Chile Fitness Equipment Market Overview, 2027 the market is anticipated to rise at an exponential growth rate during the forecast period. Key market players operating in the Chile fitness equipment market are coming up with new and innovative outlets and chains of fitness clubs and spas. This is likely to positively impact membership subscriptions, which will ultimately boost the growth of the fitness equipment market over the projected period. Furthermore, escalating incidents of cardiovascular diseases, diabetes, and osteoarthritis are a major concern across the country. According to the World Health Organization, cardiovascular disease is one of the major causes of death. However, many organizations are promoting a healthy lifestyle through sports. As a result, an increasing number of individuals are actively engaged in physical activities such as signing up for workout program and packages or just exercising independently. This is driving the growth of the fitness equipment market.

Moreover, the expanding virtual fitness market will spur the demand for high-quality fitness equipment that can be easily installed at home. Busy working professionals prefer to undertake online fitness sessions to enjoy exercising in the comfort of their homes and as per their 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 across the country. Equipment makers are also investing in research and development (R&D) operations in order to provide sophisticated and user-friendly gadgets that will improve the entire customer experience. Other factors, such as growing consumer spending power and the development of wearable gadgets that can be synced with exercise equipment, are expected to propel the market even further.

According to the report, the Chile fitness equipment market is majorly segmented into two types, including cardiovascular and strength. Among these types, cardiovascular fitness equipment led the market in 2021 and is expected to continue growing during the forecast period. Further, based on cardiovascular equipment type, the market is sub-segmented into cross-country ski machines, elliptical trainers, rowing machines, stair-steppers, stationary bicycles, treadmills, and others. Among these types, treadmills are anticipated to dominate the market by 2027, followed by stationary bicycles, owing to higher adoption across the country. Based on strength type, the market is categorized into hydraulic equipment, weight plates, dumbbells, resistance bands and tubes, and others. Among these types, dumbbells and weight plates occupied major market share in 2021. On the basis of end-user, the market is segmented into commercial and residential end-users. Among these types, the commercial segment is anticipated to acquire a higher market share during the forecast period.

COVID-19 Impacts:

Self-care is becoming a vital part of people health amid COVID-19, including mental, physical, and emotional health. The pandemic has triggered health awareness among the public to boost their immune systems and physical fitness. The imposition of lockdown across the country has resulted in gym closures, enforcing the shift of gym goers toward home fitness equipment from the year 2020. However, increased awareness regarding health and fitness is expected to significantly drive the home fitness equipment market growth. The overall fitness equipment market size has witnessed a dip in the same year.

Considered in the report

• Geography: Chile
• Base year: 2021
• Historical year: 2016
• Estimated year: 2022
• Forecasted year: 2027

Aspects covered in the report

• Chile fitness equipment market overview
• Chile cardiovascular fitness equipment market overview
• Chile strength fitness equipment market overview
• Policy & regulations
• Porters five force model
• Company profile of top players
• Strategic recommendation

Segments covered in the market

By Type

• Cardiovascular
• Strength

By Cardiovascular fitness equipment

• Treadmill
• Stationary bike
• Elliptical trainer
• Rowing machine
• Cross Country ski
• Stair stepper

By Strength fitness equipment

• Dumbbells
• Weight plates
• Hydraulic equipment
• Resistance band & tubes

By End-User

• Commercial
• Residential

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning. Post this we have started doing primary calls to industry people by equally segmenting in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.