$ 20.31 Billion Growth Expected in Gym and Health Clubs Market | COVID-19 Impact Analysis in Q1 2021 | North America to Notice Maximum Growth | Technavio

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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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

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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$ 20.31 Billion Growth Expected in Gym and Health Clubs Market | COVID-19 Impact Analysis in Q1 2021 | North America to Notice Maximum Growth | Technavio WeeklyReviewer

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$ 20.31 Billion Growth Expected in Gym and Health Clubs Market | COVID-19 Impact Analysis in Q1 2021 | North America to Notice Maximum Growth | Technavio WeeklyReviewer
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