Posted On: 2018-06-26
Increasing penetration of fitness centers Japan as well as rising health concerns have propelled the demand for fitness equipment drastically over the past few years. Additionally, setting up of gym facilities in hotels and housing societies are some of the key factors that are resulting in the overall growth of fitness equipment market in Japan.
According to 6Wresearch, Japan fitness equipment market is projected to reach $333 million by 2024. Over the next six years, the growth of the market would be dependent primarily on growing inclination of the individuals towards healthy lifestyle, increasing individual spending on fitness centers, and expansion of these centers would drive the growth of fitness equipment market in Japan.
According to Rishi Malhotra, Sr. Research Analyst, Research and Consulting, 6Wresearch, "Gym centers would remain as the key growing segment for fitness equipment market vendors in Japan. Also, with several upcoming international sporting events such as Rugby World Cup, Summer Olympics and World Swimming Championship would drive the demand for fitness equipment in the country. "
"Moreover, Kanto prefecture held the majority of the market share for number of fitness facilities in Japan and would continue to retain similar share by the year 2024, primarily due to increasing expatriates and forthcoming infrastructure projects," Rishi further added.
According to Siddhant Sharma, Research Analyst, Research and Consulting, 6Wresearch, In Japan fitness equipment market, cardiovascular equipment segment accounted for majority of the market revenues in 2017, followed by strength equipment and others; this was primarily due to higher preference towards cardiovascular training by fitness enthusiasts.
However, strength training equipment market share would increase over the coming years due to change in perception of fitness enthusiasts toward an ideal body," Siddhant concluded.
Some of the major players in Japan fitness equipment market include- Life Fitness Japan Ltd., Dyaco International Ltd., Konami Sports life, Technogym Ltd., Nautilus, Precor Japan, Johnson Health Tech, and Senoh Corporation.
"Japan Fitness Equipment Market (2018-2024)" provides an in-depth analysis with 58 figures and is covered in more than 180 pages. The report estimates and forecast the overall Japan fitness equipment market by types, end-users, facilities, and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.