Iran: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in Iran

For the fifth consecutive year, the Iranian gym and fitness equipment market recorded decline in sales value, which decreased by -0.2% to $X in 2022. Over the period under review, consumption, however, recorded a abrupt curtailment. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Gym and Fitness Equipment

Exports from Iran

In 2022, approx. X tons of gym and fitness equipment were exported from Iran; reducing by -18% against the previous year. In general, exports, however, recorded resilient growth. The pace of growth was the most pronounced in 2016 with an increase of 541%. Over the period under review, the exports reached the maximum at X tons in 2021, and then contracted notably in the following year.

In value terms, gym and fitness equipment exports reduced rapidly to $X in 2022. Over the period under review, exports, however, recorded a noticeable increase. The pace of growth was the most pronounced in 2016 when exports increased by 423%. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell significantly in the following year.

Exports by Country

Azerbaijan (X tons) was the main destination for gym and fitness equipment exports from Iran, with a 78% share of total exports. Moreover, gym and fitness equipment exports to Azerbaijan exceeded the volume sent to the second major destination, Armenia (X tons), ninefold. Italy (X tons) ranked third in terms of total exports with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Azerbaijan stood at +31.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (+16.0% per year) and Italy (+602.8% per year).

In value terms, Azerbaijan ($X) remains the key foreign market for gym and fitness equipment exports from Iran, comprising 68% of total exports. The second position in the ranking was held by Armenia ($X), with a 14% share of total exports. It was followed by Italy, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Azerbaijan amounted to +35.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (+14.2% per year) and Italy (+348.0% per year).

Export Prices by Country

In 2022, the average gym and fitness equipment export price amounted to $X per ton, declining by -4.3% against the previous year. Over the period under review, the export price saw a abrupt downturn. The pace of growth appeared the most rapid in 2014 an increase of 53%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Italy ($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 Azerbaijan (+3.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Gym and Fitness Equipment

Imports into Iran

In 2022, supplies from abroad of gym and fitness equipment increased by 2.4% to X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports, however, saw a abrupt slump. The pace of growth appeared the most rapid in 2014 when imports increased by 82%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, gym and fitness equipment imports reduced to $X in 2022. Overall, imports, however, recorded a deep setback. The pace of growth appeared the most rapid in 2014 when imports increased by 117% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of gym and fitness equipment to Iran, with a 95% share of total imports. It was followed by Italy (X tons), with a 1.7% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -9.8%.

In value terms, China ($X) constituted the largest supplier of gym and fitness equipment to Iran, comprising 92% of total imports. The second position in the ranking was held by Italy ($X), with a 2.9% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled -8.0%.

Import Prices by Country

The average gym and fitness equipment import price stood at $X per ton in 2022, declining by -10.2% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.5% 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 +69.3% against 2017 indices. The pace of growth was the most pronounced in 2019 an increase of 28%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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