Central Asia: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in Central Asia

After four years of growth, the Central Asian gym and fitness equipment market decreased by -16.6% to $X in 2022. The total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2021, and then declined markedly in the following year.

Production of Gym and Fitness Equipment in Central Asia

In value terms, gym and fitness equipment production rose rapidly to $X in 2022 estimated in export price. The total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.2% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 33%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Gym and Fitness Equipment

Exports in Central Asia

In 2022, approx. X tons of gym and fitness equipment were exported in Central Asia; rising by 2,021% on the previous year's figure. Overall, exports recorded a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, gym and fitness equipment exports surged to $X in 2022. In general, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Kazakhstan dominates exports structure, reaching X tons, which was near 95% of total exports in 2022. Uzbekistan (X tons) and Kyrgyzstan (X tons) followed a long way behind the leaders.

Kazakhstan was also the fastest-growing in terms of the gym and fitness equipment exports, with a CAGR of +82.2% from 2012 to 2022. At the same time, Kyrgyzstan (+67.2%) and Uzbekistan (+47.9%) displayed positive paces of growth. Kazakhstan (+6.5 p.p.) and Uzbekistan (+3.2 p.p.) significantly strengthened its position in terms of the total exports, while Kyrgyzstan saw its share reduced by -2.5% from 2012 to 2022, respectively.

In value terms, Kazakhstan ($X) remains the largest gym and fitness equipment supplier in Central Asia, comprising 98% of total exports. The second position in the ranking was held by Kyrgyzstan ($X), with a 1.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Kazakhstan totaled +106.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Kyrgyzstan (+60.1% per year) and Uzbekistan (+57.7% per year).

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per ton, growing by 17% against the previous year. In general, the export price saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the export price increased by 207%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+13.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Gym and Fitness Equipment

Imports in Central Asia

After five years of growth, overseas purchases of gym and fitness equipment decreased by -9.1% to X tons in 2022. Over the period under review, imports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2020 with an increase of 42% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then dropped in the following year.

In value terms, gym and fitness equipment imports contracted rapidly to $X in 2022. In general, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 58% against the previous year. The level of import peaked at $X in 2021, and then shrank rapidly in the following year.

Imports by Country

Kazakhstan was the major importer of gym and fitness equipment in Central Asia, with the volume of imports accounting for X tons, which was near 63% of total imports in 2022. It was distantly followed by Uzbekistan (X tons), Mongolia (X tons) and Turkmenistan (X tons), together constituting a 33% share of total imports. Kyrgyzstan (X tons) and Tajikistan (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to gym and fitness equipment imports into Kazakhstan stood at +6.4%. At the same time, Tajikistan (+21.3%), Uzbekistan (+19.1%), Mongolia (+4.6%) and Turkmenistan (+2.0%) displayed positive paces of growth. Moreover, Tajikistan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +21.3% from 2012-2022. By contrast, Kyrgyzstan (-2.4%) illustrated a downward trend over the same period. While the share of Uzbekistan (+20 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mongolia (-2.3 p.p.), Kyrgyzstan (-4.5 p.p.), Turkmenistan (-4.7 p.p.) and Kazakhstan (-9.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) constitutes the largest market for imported gym and fitness equipment in Central Asia, comprising 70% of total imports. The second position in the ranking was held by Uzbekistan ($X), with a 15% share of total imports. It was followed by Turkmenistan, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Kazakhstan amounted to +10.5%. In the other countries, the average annual rates were as follows: Uzbekistan (+20.1% per year) and Turkmenistan (+2.7% per year).

Import Prices by Country

In 2022, the import price in Central Asia amounted to $X per ton, dropping by -17.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The pace of growth appeared the most rapid in 2019 when the import price increased by 27% against the previous year. The level of import peaked at $X per ton in 2021, and then shrank notably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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