NEW YORK, April 26, 2021 /PRNewswire/ --
The global gym and health clubs market by application service
(membership fees, personal training and instruction services, and
total admission fee) and geography (North
America, Europe, APAC,
South America, and MEA) has been
added to Technavio's offering. The global gym and health clubs
market is expected to grow by USD 20.31
billion, at a CAGR of almost 4% during 2020-2024.
The imposition of total lockdowns across the world led to a
decline in the number of people participating in fitness
activities. This significantly reduced the sales of memberships in
gyms and health clubs in 2020. With things getting back to normal,
many governments have eased the restrictions imposed on businesses.
This is expected to increase the number of registrations in gyms
and health clubs, thereby positively influencing the market
growth.
The market is expected to be driven by factors such as the
rising number of fitness centers and health clubs and
the rising cost of healthcare services.
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Gym and Health Clubs Market: Opportunities
The prevalence of obesity is steadily increasing across the
globe. This is driving a majority of the population to involve in
regular fitness activities to stay healthy. Besides, the growing
disposable incomes of people, especially in developing countries
have increased consumer spend on recreational and fitness
activities that involve the use of fitness equipment. Many such
factors are expected to create significant opportunities for market
players over the forecast period.
Gym and health clubs Market: Segmentation by Service
Based on the segmentation by service, the market generated
maximum revenue in the membership fees segment in 2019. The growth
of the segment is driven by the increasing number of gyms and
fitness centers. However, the market growth in the segment is
expected to be slower than the growth of the market in the personal
training and instruction services segment.
Gym and Health Clubs Market: Segmentation by
Geography
North America held the largest
market share in 2019 and the market growth in the region is
expected to be slower compared to the growth of the market in APAC,
MEA, and South America. The growth
of the market in North America can
be attributed to the rise in the elderly population joining fitness
and recreational sports centers, coupled with technologically
innovative fitness equipment specially designed for elder
end-users. In addition, the increasing rates of obesity and related
diseases are expected to drive the growth of the gym and health
clubs market in North America
during the forecast period.
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Gym and Health Clubs Market: Major Vendors
Bev Francis Powerhouse Gym
The company offers paid
memberships to their customers that cover definite modules spread
across the duration of the subscriptions.
Equinox Holdings Inc.
The company offers club
memberships, personal training, pilates training, and other group
fitness classes. The company has different types of gyms and health
clubs in different locations.
Golds Gym International Inc.
The company offers
different types of gym memberships and services. The company offers
paid memberships to their customers that cover definite modules
spread across the duration of the subscriptions.
Metroflex Gym
The company offers different types of
gym memberships, services, and merchandise. The company keeps
organizing events and championships to encourage fitness customers
to participate in fitness activities and bodybuilding events.
Original Temple Gym
The company offers different types
of gym memberships, customized training, and merchandise. The
company offers paid memberships to its customers. The membership
covers defined modules of training, spread over the duration of the
subscription, as per the will and requirement of the customer.
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strategy adopted by Vendors during the COVID-19 recovery
phase
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Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Service
- Market segments
- Comparison by Service
- Membership fees - Market size and forecast 2019-2024
- Personal training and instruction services - Market size and
forecast 2019-2024
- Total admission fee - Market size and forecast 2019-2024
- Market opportunity by Service
Customer Landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size
and forecast 2019-2024
- Europe - Market size and
forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size
and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Bev Francis Powerhouse Gym
- Equinox Holdings Inc.
- Golds Gym International Inc.
- Metroflex Gym
- Original Temple Gym
- Planet Fitness Inc.
- Titan Manufacturing and Distributing Inc.
- Town Sports International Holdings Inc.
- UFC Gym
- Virgin Active Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
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Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com
Report:
www.technavio.com/report/gym-and-health-clubs-market-industry-analysis
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