Belgium: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in Belgium

In 2022, after two years of growth, there was significant decline in the Belgian gym and fitness equipment market, when its value decreased by -43.3% to $X. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then dropped rapidly in the following year.

Production of Gym and Fitness Equipment in Belgium

In value terms, gym and fitness equipment production rose slightly to $X in 2022 estimated in export price. Over the period under review, production recorded mild growth. The most prominent rate of growth was recorded in 2018 with an increase of 251%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Gym and Fitness Equipment

Exports from Belgium

In 2022, after four years of growth, there was significant decline in shipments abroad of gym and fitness equipment, when their volume decreased by -89.2% to X tons. Overall, exports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2020 when exports increased by 769%. The exports peaked at X tons in 2021, and then declined markedly in the following year.

In value terms, gym and fitness equipment exports declined notably to $X in 2022. Over the period under review, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 501%. The exports peaked at $X in 2021, and then dropped markedly in the following year.

Exports by Country

France (X tons) was the main destination for gym and fitness equipment exports from Belgium, accounting for a 53% share of total exports. Moreover, gym and fitness equipment exports to France exceeded the volume sent to the second major destination, the Netherlands (X tons), fourfold. The third position in this ranking was taken by Italy (X tons), with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume to France totaled -11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-4.6% per year) and Italy (-13.9% per year).

In value terms, France ($X), the Netherlands ($X) and Germany ($X) constituted the largest markets for gym and fitness equipment exported from Belgium worldwide, together accounting for 72% of total exports. Italy, Poland, Sweden, Spain, Luxembourg and Ghana lagged somewhat behind, together comprising a further 11%.

Ghana, with a CAGR of +15.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average gym and fitness equipment export price stood at $X per ton in 2022, dropping by -12.8% against the previous year. Over the period under review, the export price saw a pronounced decrease. The most prominent rate of growth was recorded in 2015 an increase of 24%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+1.8%), while the prices for the other major destinations experienced a decline.

Imports of Gym and Fitness Equipment

Imports into Belgium

In 2022, purchases abroad of gym and fitness equipment decreased by -85.9% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports recorded a deep reduction. The pace of growth appeared the most rapid in 2020 when imports increased by 289%. Imports peaked at X tons in 2021, and then declined remarkably in the following year.

In value terms, gym and fitness equipment imports shrank dramatically to $X in 2022. In general, imports saw a deep slump. The pace of growth appeared the most rapid in 2020 with an increase of 195%. Imports peaked at $X in 2021, and then reduced sharply in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest gym and fitness equipment supplier to Belgium, accounting for a 53% share of total imports. Moreover, gym and fitness equipment imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was held by France (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+6.2% per year) and France (-13.2% per year).

In value terms, the largest gym and fitness equipment suppliers to Belgium were China ($X), the Netherlands ($X) and France ($X), with a combined 73% share of total imports. Italy, Germany, Taiwan (Chinese), the United States and Spain lagged somewhat behind, together comprising a further 19%.

Among the main suppliers, Spain, with a CAGR of +5.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average gym and fitness equipment import price stood at $X per ton in 2022, growing by 46% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :