SAN JOSE, CA -- As manufacturers gather at the International Health, Racquet and Sportsclub Association (IHRSA) show, which kicks off today in San Diego, a new report states that the world market for physical fitness equipment is projected to exceed almost $12 billion by 2010.
The growth of the global fitness equipment market is driven by demand in European countries and increasing focus on fitness and healthy lifestyles by more affluent consumers in Asia-Pacific and Latin America, according to the report published by Global Industry Analysts Inc.
The United States represents the single largest regional market for physical fitness equipment, with sales estimated at $5 billion in 2007. Asia-Pacific is projected to emerge as the fastest growing regional market this decade, with a compounded annual growth rate of 5.5 percent. Europe’s fitness equipment market is projected to reach $3.4 billion by 2010, according to the report.
The treadmill market was estimated at $2.43 billion in 2007, and the elliptical trainer market, which represents the fastest growing product segment in the global fitness equipment market, was estimated at $967 million for 2007.