KSA fitness equipment market was valued at USD ~XX million in 2021, expanding at a CAGR of XX% in between 2016 and 2021 on the basis of revenue generated through sales of fitness equipment with considerable expansion in commercial fitness centers in which popular fitness centers and women centric fitness club dominated the market. Government initiatives to launch women centric fitness centers in 2017 along with “Your Home, Your Gym” and “Quality of Life” campaign to improve physical conditions of people coupled with rising health concerns such as obesity, diabetes and cardiovascular diseases due to unhealthy lifestyle, inclination of consumers to undertake online fitness sessions to enjoy exercising in the comfort of their homes and as per their convenience are the major determinant to drive the growth of fitness equipment industry. Surging demand of fitness equipment suitable for home/residential purposes post COVID-19 is also contributing in the growth of fitness equipment market.
In 2020, fitness equipment
industry experienced a temporary downfall owing to the impact of COVID-19 on
industry leading to closure of the fitness centers and health clubs due to
country wide lockdown. With mandatory protocol such as to avoid physical
contact and maintenance of social distancing to prevent the transmission of
virus restrained a major chunk of population from availing fitness services in
fitness centers and health clubs. These factors have however led to increased
demand of home-based fitness equipment and adaptation to digital fitness
services, as people preferred to follow fitness regimes at their home to ensure
safety. Also, increased awareness on health and hygiene followed by the advent
of COVID-19 is acting as a catalyst for the shift in consumer’s preference
towards availing digitally connected solutions for their fitness routine.
Majority of the fitness
equipment imported in KSA in 2020 were from China, USA and Taipei; with China
contributing to majority share of XX% of the overall imports in 2020 on the
basis of revenue generated. Revenue generated through import of fitness
equipment was valued at USD XX million in 2020; the higher share of import is
attributed to the growing demand of high end fitness equipment produced in
other nations. The lack of ability of local manufacturer’s in KSA to produce
high tech fitness equipment negatively impacted the international demand of
fitness equipment produced in KSA.
Saudi Arabia Fitness Equipment Market Growth & Segmentation, 2021
By
Type of End User: Commercial fitness centres accounted for the
highest market share of XX% among all other types of end users on the basis of
revenue generated in the year 2021. Popular fitness clubs under the category of
commercial fitness centres dominated the sector. Private fitness centres and
health clubs accounted the second highest share.
By
Type of Customer: Sales of fitness equipment through B2B
channel accounted for the highest share of XX% on the basis of revenue in 2021,
attributed to the surging establishments of commercial and hotel-based fitness
centres demanding advanced fitness equipment followed by B2C channel which has
low penetration in the market.
By
Foreign and Domestic Manufacturing: Foreign fitness equipment
accounted for the highest market share of XX% as compared to the locally
manufactured (domestic) fitness equipment on the basis of revenue generated in
2021. Lack of domestic manufacturer’s ability to produce advanced fitness
equipment leads to the increased demand of fitness equipment from foreign
counties such as China, USA and Italy among others.
Fitness
Equipment Importing and Exporting Companies in KSA
The report highlights brief
overview of major companies engaging in import and export of fitness equipment
in KSA on the basis of Number of Products or Services Categories Traded, Number
of Employees, Region and on the basis of City.
Fitness
Equipment Import and Export Scenario, by Country 2016-2020
Majority of the fitness
equipment imported in KSA in 2020 were from China, USA and Taipei; with China
contributing to majority share of XX% of the overall imports in 2020 on the
basis of revenue generated. Revenue generated through import of fitness
equipment was valued at USD XX million in 2020; the higher share of import is
attributed to the growing demand of high end fitness equipment produced in
other nations. The lack of ability of local manufacturer’s in KSA to produce
high tech fitness equipment negatively impacted the international demand of
fitness equipment produced in KSA.
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Competitive
Landscape of KSA Fitness Equipment Market, 2021
KSA fitness equipment market
is concentrated among 10-15 players. Delta Fitness captured the highest market
share in terms of revenue generated through the sales of fitness equipment in
2021. Fitness equipment distributors in KSA compete on the basis of quality of
fitness equipment products, wide range of equipment they offer and pricing of
these products. One of the major competition parameter is the collaboration and
partnerships that the distributors maintain with their clients namely, fitness
clubs, fitness centers, hotels, resorts and universities. However, from the
production side of fitness equipment, the domestic manufacturer’s in KSA has
not been able to develop advanced fitness equipment that are demanded at
fitness facilities. Due to which, revenue generated through the imports of fitness
equipment captured the majority share of XX% in 2021 compared to domestic
sales. Majority of the fitness equipment imported in KSA in 2020 were from
China, USA and Taipei; with China contributing to majority share of XX% of the
overall imports in 2020 on the basis of revenue generated. In coming years, the
demand for domestically produced fitness equipment would rely on the ability of
these manufactures to deliver high quality advanced fitness products.
Further, a notable shift in
consumer preference post COVID-19 has contributed in the emergence of digital
fitness services. Home based fitness equipment are heavily demanded in recent
times as people prefer to regularly participate in physical and fitness
activities at the comfort of their home thereby, reducing the risk of physical
contacts at public fitness facilities. Surging demand of home based fitness
equipment will act as a catalyst for the growth in fitness equipment industry
in coming years. Therefore, fitness equipment players in KSA must cater to the
rising demand of home based fitness equipment in order to integrate the market.
Future Outlook of KSA Fitness Equipment
Market,
2021-2026
Fitness equipment market is
expected to expand at a five-year CAGR of ~XX% in between 2021 and 2026 on the
basis of revenue generated. It is anticipated that fitness equipment industry
will grow at a substantial rate owing to factors such as the rising health
concerns among population suffering from non-communicable diseases namely,
obesity and chronic diseases due to unhealthy lifestyle, establishment of
organized fitness centers with diversified services along with various
government initiatives such as “Quality of Life” and “Your Home, Your Gym
campaign” to encourage people to regularly engage themselves in physical and
fitness activities. Coupled with that, determinants such as launch and
expansion of nearly 163 hotel and resort project such as Hyatt and Radisson by
the end of 2030 as envisaged, will also contribute in the increased demand of
fitness equipment at these facilities. The market is poised to gain significant
traction with the rise in the number of women centric health clubs and fitness
centers incorporating advanced equipment catering to the changing health
patterns and consumer demands. On the other hand, high set up or installation
cost of devices or equipment and rising demand for resale of used fitness
equipment for saving cost are estimated to obstruct the market’s growth within
the above-mentioned forecast period.
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