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In 2020, the sudden epidemic swept the world, disrupting the production and operation order of enterprises. The same is true for the fitness equipment industry, which depends on the external environment, and can feel the impact and changes of the industry. During the epidemic period, the global demand for home-based fitness showed an explosive trend, and the industry orders increased significantly. However, with the adjustment of epidemic prevention policies and the soaring sea freight, fitness equipment enterprises mainly exporting also faced new challenges and opportunities.
1、 Fitness equipment market is hot
After the outbreak of the overseas epidemic, home isolation undoubtedly increased the pressure on the fitness club and commercial gym market, and many physical fitness facilities were closed, which made the demand for home fitness equipment grow rapidly.
According to the data released by the General Administration of customs, the export scale of China's fitness equipment sporting goods showed an upward trend from 2019 to 2020, from US $3.43 billion in 2019 to US $6.606 billion in 2020, with a large increase. From January to August of 2021, the export scale of China's fitness equipment sporting goods was US $6.35 billion, which was close to the level of 2020.
Due to the popularity of fitness awareness and high income level, the United States and the European Union are currently one of the most important fitness equipment consumption markets, and the market is mature, forming a relatively stable market competition pattern. From January to August last year, the largest export amount of China was from the United States, with the export amount reaching US $2.21 billion, accounting for 34.78%; Followed by Britain and Germany, the export value reached US $340million and US $330million respectively, accounting for 5.41% and 5.16% respectively.
The substantial increase in the export volume of fitness equipment, on the one hand, is affected by the demand of overseas consumers for daily exercise under the epidemic. On the other hand, it is also related to panic consumption by some consumers to enhance their immunity under the epidemic.
2、 Characteristics of fitness equipment industry
Pictures are from the Internet
Globally, the main market of fitness equipment industry is developed countries such as Europe and the United States. Affected by factors such as cost, the world's main fitness equipment production places are gradually shifting from Europe and the United States to Asia. In the future, Europe, Asia and Latin America will also be the main growth points of the fitness equipment market. With the development, this industry is characterized by business travel alienation, dislocation of supply and demand structure, periodicity and so on.
1. differentiation features
As China is the largest production base in the world, its products are exported all over the world. Consumers in different regions have different needs and habits for fitness equipment. For example, under the epidemic, the sales of home fitness equipment in Europe and the United States are growing rapidly, while Japan is declining rapidly after a short-term rise. The different characteristics of customers' needs make the fitness equipment product types also have different characteristics. The specifications, parameters and functions of the same type of products are quite different, and the product prices and applicable target groups are also quite different.
2. dislocation of supply and demand structure at home and abroad
The supply of the global fitness equipment market is concentrated in China, and the demand is concentrated in Europe and the United States. This structural dislocation of supply and demand leads to the fact that the fitness equipment sales market is dominated by European and American enterprises. Although Chinese enterprises have accumulated rich experience, technology and other advantages in production and manufacturing, they are lack of brand effect, sales channels and after-sales service in the international market competition. They are mainly exported to the European and American markets in the form of ODM or OEM, so their own brands have a low share in the foreign market, The pricing power in the terminal market is mainly controlled by foreign enterprises.
3. periodicity
The periodicity of fitness equipment is reflected in two aspects: the supply and demand of raw materials and fitness equipment. On the one hand, steel is the main component of fitness equipment cost, and the fluctuation of steel price will directly lead to the corresponding fluctuation of fitness equipment cost. On the other hand, the demand for fitness equipment is related to the per capita disposable income of consumers and economic development. However, with the increase of consumers' attention to sports and fitness, the cyclical impact of economic fluctuations on the fitness equipment industry has been weakened to a certain extent.
3、 Development trend of fitness equipment industry
In recent years, the development of the Olympic Games has driven the growth of the sales volume of the sporting goods industry. At the same time, it has also promoted the growth of various sub categories and branch markets. As a part of the sporting goods industry, the consumer market of fitness equipment has also gradually expanded.
1. the elderly rehabilitation and fitness equipment market is broad
The global aging trend is irreversible. The global aging trend is irreversible. In 1960, the proportion of the global population aged 65 and above in the total population was 4.97%, and in 2019, the proportion of the global population aged 65 and above has reached 9%. Relevant United Nations data show that by 2050, the global population aged 65 and above will exceed 1.5 billion, accounting for 16% of the total population. In this context, the development of rehabilitation aids industry has great potential.
2. the trend of intelligent fitness equipment is accelerating
With the continuous improvement of consumption level and awareness, the single mechanical fitness function of traditional fitness equipment is difficult to meet the needs of consumers, and the requirements for product functionality, safety, intelligence and networking are becoming higher and higher. The advantages of intelligent fitness equipment, such as scientific fitness guidance, joint fitness data sharing with big data, safe and efficient fitness process, more interesting and intuitive fitness effect in the fitness process, can better meet the needs of consumers. Therefore, the trend of intelligent fitness equipment is irreversible.
3. accelerated integration within the industry
Affected by economic fluctuations and the external environment, some international fitness equipment manufacturers with single products and narrow market coverage have suffered losses or even went bankrupt, and mergers and reorganizations in the industry have occurred from time to time. International fitness equipment manufacturers generally choose several fixed OEM manufacturers in China, so the integration between international manufacturers in the industry will also have a certain impact on the OEM business pattern of domestic enterprises.
4、 Opportunities and challenges of fitness equipment industry
The national economy, consumers' health awareness, and the continuous improvement of consumption level and consumption ability have promoted the development of fitness equipment industry. While welcoming development opportunities, the fitness equipment industry is also facing challenges.
1. development opportunities
(1) Scientific and technological progress provides development space for fitness equipment
The application and promotion of emerging technologies such as cloud computing, big data, the Internet of things and the Internet have promoted the upgrading of fitness equipment product design, production and manufacturing methods, supply and marketing system and brand operation mode, while driving consumers' demand and stickiness for fitness equipment. The development and application of new technologies will improve the market competitiveness of products in the collection of end consumer needs, the application of intelligent production equipment, the expansion of sales channels, etc., thus bringing new space for the development of the fitness equipment industry.
(2) The number of fitness venues promotes the expansion of fitness market
The increasing number of fitness clubs and gyms has promoted the expansion of the fitness equipment industry. According to the annual survey conducted by the International Association of health, racket and sports clubs (IHRSA), the number of fitness clubs, gyms and other fitness centers has increased significantly. In the case of the United States, there were about 62.4 million gym members in the United States in 2019, with the industry market size reaching US $34billion, and the market share exceeding one third of the global gym industry market share. The further deepening of fitness popularization is conducive to the development of fitness equipment market.
2. challenges
(1) Challenges brought by the transformation of international roles
The structural dislocation of supply and demand in the fitness equipment industry has led to the global fitness equipment sales market dominated by European and American enterprises. Domestic enterprises have few independent brands and weak independent pricing power. With the development and upgrading of intelligent manufacturing, domestic labor cost and other advantages are gradually weakening. Domestic fitness equipment manufacturing enterprises need to change from "manufacturing" to "design, manufacturing, sales and brand integration".
(2) New challenges brought by industry integration
The fitness equipment industry is characterized by a large number of enterprises, scattered market scale and non standardized products, which leads to the situation that enterprises in the industry obtain orders through disorderly competition, and the standardization of market competition needs to be improved. With the scale effect brought about by technological progress and the information symmetry brought about by the Internet, enterprises with high management level, design level, brand effect and other advantages will increase their market share. Relatively speaking, those enterprises with poor management and lack of independent brands will face the risk of being eliminated.
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Article source: https://www.ikjzd.com/articles/156518