China: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in China

The Chinese gym and fitness equipment market surged to $X in 2022, picking up by 126% against the previous year. Over the period under review, consumption enjoyed a strong expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Gym and Fitness Equipment in China

In value terms, gym and fitness equipment production reached $X in 2022 estimated in export price. In general, production, however, saw prominent growth. The pace of growth was the most pronounced in 2020 when the production volume increased by 54% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Gym and Fitness Equipment

Exports from China

In 2022, shipments abroad of gym and fitness equipment decreased by -50.6% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, showed a noticeable expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 76%. The exports peaked at X tons in 2021, and then fell rapidly in the following year.

In value terms, gym and fitness equipment exports reduced remarkably to $X in 2022. In general, exports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 82% against the previous year. The exports peaked at $X in 2021, and then reduced notably in the following year.

Exports by Country

The United States (X tons) was the main destination for gym and fitness equipment exports from China, accounting for a 39% share of total exports. Moreover, gym and fitness equipment exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), eightfold. The UK (X tons) ranked third in terms of total exports with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+1.9% per year) and the UK (+0.1% per year).

In value terms, the United States ($X) remains the key foreign market for gym and fitness equipment exports from China, comprising 37% of total exports. The second position in the ranking was taken by Japan ($X), with a 4% share of total exports. It was followed by Germany, with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+6.8% per year) and Germany (+4.1% per year).

Export Prices by Country

In 2022, the average gym and fitness equipment export price amounted to $X per ton, with an increase of 22% against the previous year. Over the last decade, it increased at an average annual rate of +3.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Spain ($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 South Korea (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gym and Fitness Equipment

Imports into China

In 2022, overseas purchases of gym and fitness equipment decreased by -22.4% to X tons, falling for the sixth year in a row after five years of growth. Over the period under review, imports, however, enjoyed modest growth. The growth pace was the most rapid in 2014 when imports increased by 37%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, gym and fitness equipment imports declined to $X in 2022. In general, imports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of 30% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X tons), Hungary (X tons) and Italy (X tons) were the main suppliers of gym and fitness equipment imports to China, with a combined 40% share of total imports. Slovakia, Germany, Vietnam, the Netherlands and South Korea lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +77.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Italy ($X) and Hungary ($X) constituted the largest gym and fitness equipment suppliers to China, with a combined 43% share of total imports. Germany, Slovakia, Vietnam, the Netherlands and South Korea lagged somewhat behind, together comprising a further 13%.

In terms of the main suppliers, Vietnam, with a CAGR of +81.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average gym and fitness equipment import price amounted to $X per ton, surging by 13% against the previous year. Over the period under review, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gym and fitness equipment import price increased by +35.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 28%. The import price peaked in 2022 and is expected to retain growth in years to come.

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 the Netherlands ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :