GCC: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in GCC

In 2022, after three years of growth, there was significant decline in the GCC gym and fitness equipment market, when its value decreased by -8.1% to $X. The total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +74.3% against 2018 indices. Over the period under review, the market attained the maximum level at $X in 2021, and then dropped in the following year.

Production of Gym and Fitness Equipment in GCC

In value terms, gym and fitness equipment production stood at $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume decreased by 99.9% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Exports of Gym and Fitness Equipment

Exports in GCC

In 2022, shipments abroad of gym and fitness equipment decreased by -20.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Total exports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when exports increased by 80% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, gym and fitness equipment exports reduced slightly to $X in 2022. Overall, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2017 when exports increased by 102%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates represented the main exporter of gym and fitness equipment in GCC, with the volume of exports resulting at X tons, which was near 67% of total exports in 2022. It was distantly followed by Oman (X tons), making up a 26% share of total exports. Bahrain (X tons) and Kuwait (X tons) held a minor share of total exports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of gym and fitness equipment. At the same time, Oman (+68.4%), Bahrain (+20.7%) and Kuwait (+12.4%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +68.4% from 2012-2022. From 2012 to 2022, the share of Oman, Bahrain and Kuwait increased by +26, +3.2 and +1.7 percentage points, respectively.

In value terms, the United Arab Emirates ($X) remains the largest gym and fitness equipment supplier in GCC, comprising 70% of total exports. The second position in the ranking was taken by Oman ($X), with a 23% share of total exports. It was followed by Bahrain, with a 5.1% share.

In the United Arab Emirates, gym and fitness equipment exports expanded at an average annual rate of +6.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (+76.3% per year) and Bahrain (+23.4% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, growing by 19% against the previous year. Overall, the export price posted a remarkable increase. The pace of growth was the most pronounced in 2018 an increase of 40%. Over the period under review, the export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices stood 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 Bahrain ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.0%), while the other leaders experienced more modest paces of growth.

Imports of Gym and Fitness Equipment

Imports in GCC

In 2022, after three years of growth, there was significant decline in purchases abroad of gym and fitness equipment, when their volume decreased by -7.4% to X tons. Total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 67% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then shrank in the following year.

In value terms, gym and fitness equipment imports shrank to $X in 2022. Total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.3% against 2016 indices. The pace of growth was the most pronounced in 2020 when imports increased by 31%. The level of import peaked at $X in 2021, and then declined in the following year.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) dominates imports structure, together achieving 84% of total imports. It was distantly followed by Qatar (X tons), making up a 5.4% share of total imports. The following importers - Oman (X tons), Kuwait (X tons) and Bahrain (X tons) - together made up 10% of total imports.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +13.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 88% of total imports. Kuwait, Oman and Bahrain lagged somewhat behind, together accounting for a further 12%.

Bahrain, with a CAGR of +12.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, remaining constant against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2018 an increase of 11%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 Qatar ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform