The business has seen phenomenal growth as the importance of leading a healthy lifestyle and the appeal of fitness activities have gained more recognition. The Vietnam Fitness Equipment Market is made up of several different segments, including those for cardiovascular equipment, strength training equipment, and miscellaneous equipment including yoga mats, resistance bands, and exercise balls. Whereas treadmills, stationary bikes, and elliptical trainers are used for cardiovascular exercise, free weights, weight machines, and multi-gyms are utilised for strength training.
Despite the pandemic’s challenges, the Vietnamese fitness equipment market has grown. The increased focus on health and fitness as well as the increased demand for home exercise equipment have given manufacturers the opportunity to broaden their product lines and cater to a wider client base. In conclusion, the COVID-19 pandemic has had a mixed impact on the Vietnam exercise equipment sector. The industry has seen opportunities for growth and advancement despite the challenges it has brought. The pandemic’s long-term effects on the market for fitness equipment will depend on how well manufacturers and fitness centres can adapt to changing consumer behaviour and market conditions.
- Forecast CAGR (2022-2032): XX%
- Forecast Market Size (2032): XX billion
The growth in the number of gyms and fitness centres in Vietnam has also helped the fitness equipment industry to expand. The market is fiercely competitive because it contains both domestic and foreign brands. A few of the market’s major players include Life Fitness, Technogym, Johnson Health Tech, and ICON Health & Fitness. In order to appeal to a variety of consumer segments, these companies offer a wide range of exercise equipment at different pricing points.
Impact of COVID-19 on the Vietnam Fitness Equipment Market
Manufacturers now have the chance to capitalise on the rising demand for home fitness equipment. More people are focusing their health and fitness thanks to the pandemic, which has also changed consumer behaviour. As a result, more attention has been paid to creating cutting-edge, inventive, and technologically sophisticated workout equipment that can be utilised at home. In addition to these difficulties, the pandemic has caused manufacturing delays and supply chain disruptions in the industry. The need for fitness equipment has been impacted by the closure of gyms and fitness centres, which has also reduced revenue for these companies.
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Vietnam Fitness Equipment Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
- Health Clubs/Gyms
- Home Consumer
- Cardiovascular Training Equipment
- Strength Training Equipment
- Da Nang
- Ho Chi Minh City
This study also encompasses various drivers and restraining factors of this market for the forecast period.
Vietnam Fitness Equipment Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Body Solid, Hoist Fitness Systems, Johnson Health Tech, Life Fitness, Matrix Fitness, Reebok Fitness, Technogym.
Sara Lopes, Business Consultant – U.S.A.
SPER Market Research