The value of the global aqua gym equipment market is expected to reach USD 722.3 million, by 2025. The market is projected to grow with a CAGR of 5.01% over the forecast period. Increasing focus on physical appearance and overall well-being are driving the market.
Hectic work hours and changing lifestyles have given birth to various health problems such as diabetes, high blood pressure and obesity among others. Aqua gym helps individuals against these health problems and thereby it is gaining traction among health-conscious people. Water exercises offer resistances and serve multiple body parts. In addition, water reduces the chances of injuries by making individuals feel light in weight, which in turn makes it a popular choice among the elderly population. Further, this exercise also helps in alleviating hip and knee joint problems among the geriatric population.
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Strength training is expected to grow with the fastest CAGR of 6.24% over the forecast period. The growing popularity of aqua gym is attributed to its ability to provide strength quickly. Regular practice of water exercise is known to provide improved agility, flexibility and strength. Further, it is one of the most effective exercises for weight loss. All these aforementioned reasons collectively drive the market.
North America held the largest market share in 2018 with over 40%. Increasing health consciousness among people and increasing obesity are primarily driving the market. High demand from the United States is attributing to the growth of this region. There has been a significant rise in sales of water cycling and floating mats in this region owing to high demand. According to AQUASTUDIO, a New York-based company, aqua cycling is an effective way of losing weight as it is capable of burning over 600 calories in an hour.
The key players in the aqua gym equipment market are PlayCore, Inc., Hydro Fit Inc., Be Aqua Pte Ltd., AquaJogger and TEXAS REC among others. Owing to the presence of various players, the market is quite competitive in nature. Key players are focusing on innovative product launch and new marketing strategies to boost their sales. For instance, VACUACTIVUS, a weight loss product manufacturer has introduced multiple types of equipment to garner a larger customer base.
Further key findings from the report suggest:
• Strength training equipment is expected to grow with the CAGR of 6.24% over the forecast period.
• Cardiovascular equipment accounted for the largest share and held 60.45% of the market in 2018.
• North America held the largest market share largely because of increasing demand for aqua equipment from the United States.
• Asia Pacific is expected to grow with a significant rate owing to increasing health consciousness and rising consumers’ purchasing power.
COVID-19 Impact Insights
The fitness industry has been at receiving end ever since the outbreak of COVID-19. Gyms, fitness clubs and store selling fitness equipment have been closed in several parts of the world to arrest the spread of COVID-19. Aqua gym, in particular, is more prone to COVID-19 spread as maintaining the proper social distancing and hygiene can be challenging. Therefore, the industry has witnessed a considerable decline in the second and third quarters of 2020. Nonetheless, with restriction in lockdown norms, aqua gyms have resumed their operations, albeit with some restrictions. However, the industry would continue to witness sluggish growth until the full operation of aqua gyms are resumed.
Global Aqua Gym Equipment Market: Key Players
BECO-Beermann GmbH & Co., HydroWorx International, Inc., AquaJogger, Hydro Fit Inc.
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