Fitness equipment market is expected to expand at a five-year CAGR of ~XX% in between 2021 and 2026 on the basis of revenue generated. It is anticipated that fitness equipment industry will grow at a substantial rate owing to factors such as the rising health concerns among population suffering from non-communicable diseases namely, obesity and chronic diseases due to unhealthy lifestyle, establishment of organized fitness centers with diversified services and entry of low budget international fitness chains along with various government initiatives such as “National Program to promote Active, Healthy Lifestyle” and events like “Jerusalem Marathon” and “The Women Race-Life Run” to encourage people to regularly engage themselves in physical and fitness activities. Coupled with that, due to the changing lifestyle and influence from TV and internet, youth in the country is becoming more aware about their health and fitness, which will result into regular visits to fitness centers and indulging themselves into some kind of physical activity. The market is poised to gain significant traction with the rise in the number of women centric health clubs and fitness centers incorporating advanced equipment catering to the changing health patterns and consumer demands. On the other hand, high set up or installation cost of devices or equipment and rising demand for resale of used fitness equipment for saving cost are estimated to obstruct the market’s growth within the above-mentioned forecast period.
Market Definitions and Assumptions:
- Israel Fitness Equipment Market: Fitness equipment market is defined as the revenue generated through sales of all types of mechanical and non-mechanical devices and apparatus used during physical activity, which directly or indirectly enhance the strength, conditioning and accessibility of the user. Fitness equipment can be classified into two broad categories: Cardiovascular Equipment and Strength Training Equipment. Fitness consumables such as accessories (belts, gloves), resistance bands, steppers, etc have not been included as a part of the market.
- Cardiovascular equipment: is defined as primarily mechanized devices used to lose weight, enhance stamina levels and reduce stress. Some examples are – treadmills, stationary cycles, rowing machines, elliptical machine and stair climbers.
- Strength training equipment: is defined as the set of mechanized and non-mechanized devices used to enhance physical strength and build muscles. Some examples are – dumbbells, kettlebells, barbells, weight plates, benches and body part specific weight training machines.
- Fitness centers and Health Clubs: are defined as commercials establishments, which house fitness equipment for physical activities. Private Fitness Centers and Health Clubs are used for personal purposes or for the internal use by residents of housing complexes. Commercial Fitness Centers and Health Clubs offer paid services on a pay-per-use or paid subscription basis.
- Fitness equipment distributors are defined as business that procure products directly from manufacturers in the same geography and sell them directly to end users via retail outlet or to other retailer.
- Importers on the other hand are businesses, which procure products from manufacturers or suppliers in other geographies for the purpose of wholesale or retail distribution.
- Establishments: Number of Establishments are inclusive of all Commercial Gym Centers(Exclusive Gym Centers, Popular and local Gyms), Hotel Gyms, Gyms in Compounds and Residential Townships and Universities present in Israel.
- Commercial A Gym Centers are Exclusive/ Boutique Gyms providing Unique Class Concepts, Personal Customised Training and more individual attention to the clients.
- Commercial B Gym Centers are Popular Fitness Centers having Branches at Multiple Locations all Over Israel. They have generally Huge target Audience and Provide Multiple Fitness training with Class Schedules.
- Commercial C Gyms are Local Gyms and Fitness Centers that have access to limited Gym Equipments and have 1-2 branches all over the country.
- Hotels includes all the Hotels gyms that provides gym access to outsiders apart from their in-house guest through monthly, quarterly, half yearly and annual memberships.
- Compounds and Universities will not generate Revenues as they are maintained by residential communities and university authorities. The gym facility is provided as an additional service to the members and the fees is included in the maintenance charges and college fees.
Market Sizing Approach:
- Hypothesis Creation:. After analyzing the major industry factors a hypothesis is framed about the market size based on reports from magazines, journals, online articles, government, market association, industry articles and many others. We have used both public and proprietary databases to define the market and collect data points about the same.
- Hypothesis Testing: The research team conducted computer assisted telephonic interviews (CATIs) with several industry professionals such as Fitness Equipment Distributors, Commercial Gym Center Procurement Managers, Equipment Manufacturers and Others to collect their insight and industry pattern about Fitness Equipment market.
- Future Forecasting Methodology: The outlook of industry estimated was further sanity checked with respect to the interviews conducted with industry veterans, gym managers and C-level executives regarding all the important parameters of the fitness industry.
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Israel Fitness Equipment Market
- By Type of End User
- Commercial Fitness Centers & Health Clubs
- Office & Hotels
- By Foreign and Domestic Manufacturing
- Israel Offline Fitness Market Assessment
- Commercial (Exclusive/Boutique Centers, Popular Fitness Centers, and Local Gyms & Fitness Clubs)
- Hotels and Resorts (5 Star Hotels & Resorts, 4 Star Hotels & Resorts, and 3 Star Hotels & Resorts or Less)
Key Topics Covered in the Report
- Socio Demographic and Economic Outlook of Israel
- Overview of Fitness Equipment Market in Israel
- Ecosystem of Israel Fitness Equipment Market
- Value Chain Analysis of Israel Fitness Equipment Market
- Operating Model of Fitness Equipment Distributors in Israel
- Israel Fitness Equipment Market Size on the basis of Revenue
- Israel Offline Fitness Market Assessment
- Israel Fitness Equipment Market Segmentation (By Type of End User, By Domestic and Imported Manufacturing)
- SWOT Analysis
- Trends and Developments
- Government Initiatives in the Fitness Sector
- Economic Impact of Fitness Centers in Israel (Direct and Indirect)
- Impact of COVID-19 on Fitness Industry in Israel
- List of Fitness Equipment Distributors in Israel (Year of Establishment, Location, Contact, Mail Id, Country of Operation, and Brand Association)
- Cross Comparison of Major Fitness Equipment Distributors in Israel (Year of Establishment, Number of Employees, Countries Served, and Product Portfolio)
- Company Profile of Fitness Equipment Distributors in Israel (Company Overview, Type of Customers, Services Offered, Strengths, Weaknesses, Major Clientele, and Key Partnerships, Future Developments)
- Identifying the Customer Cohorts in Israel Health and Fitness Market
- Customer Decision Making Factors Fitness Centers
- Customer Mind-set for Fitness in Israel
- Target Addressable Market and Service Addressable Market in Israel Health and Fitness Industry
- Analyst Recommendations
For more information on the research report, refer to below link:
Ankur Gupta, Head Marketing & Communications