Malaysia: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in Malaysia

After three years of growth, the Malaysian gym and fitness equipment market decreased by -12.3% to $X in 2022. Over the period under review, consumption, however, posted strong growth. Gym and fitness equipment consumption peaked at $X in 2021, and then reduced in the following year.

Production of Gym and Fitness Equipment in Malaysia

In value terms, gym and fitness equipment production reached $X in 2022 estimated in export price. Over the period under review, production posted a buoyant increase. The growth pace was the most rapid in 2016 with an increase of 50% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Gym and Fitness Equipment

Exports from Malaysia

Gym and fitness equipment exports from Malaysia surged to X tons in 2022, increasing by 40% against 2021. In general, exports showed buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 119%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, gym and fitness equipment exports soared to $X in 2022. Over the period under review, exports showed a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 221%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Singapore (X tons) was the main destination for gym and fitness equipment exports from Malaysia, with a 57% share of total exports. Moreover, gym and fitness equipment exports to Singapore exceeded the volume sent to the second major destination, the United States (X tons), twofold. The Netherlands (X tons) ranked third in terms of total exports with a 4% share.

From 2012 to 2022, the average annual growth rate of volume to Singapore totaled +46.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+6.4% per year) and the Netherlands (+36.1% per year).

In value terms, Singapore ($X) remains the key foreign market for gym and fitness equipment exports from Malaysia, comprising 71% of total exports. The second position in the ranking was held by the United States ($X), with a 9.5% share of total exports. It was followed by the Netherlands, with a 2.3% share.

From 2012 to 2022, the average annual growth rate of value to Singapore stood at +57.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-3.8% per year) and the Netherlands (+40.5% per year).

Export Prices by Country

The average gym and fitness equipment export price stood at $X per ton in 2022, increasing by 5.5% against the previous year. In general, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.0% 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 export price decreased by -4.3% against 2019 indices. The growth pace was the most rapid in 2019 an increase of 46% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to the United States ($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 Germany (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gym and Fitness Equipment

Imports into Malaysia

In 2022, overseas purchases of gym and fitness equipment decreased by -19% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2019 when imports increased by 72%. Over the period under review, imports hit record highs at X tons in 2021, and then declined markedly in the following year.

In value terms, gym and fitness equipment imports fell dramatically to $X in 2022. In general, imports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2019 with an increase of 74%. Over the period under review, imports attained the maximum at $X in 2021, and then contracted notably in the following year.

Imports by Country

In 2022, China (X tons) was the main gym and fitness equipment supplier to Malaysia, with a 95% share of total imports. It was followed by Taiwan (Chinese) (X tons), with a 1.6% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-5.8% per year) and the United States (-10.6% per year).

In value terms, China ($X) constituted the largest supplier of gym and fitness equipment to Malaysia, comprising 86% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 3.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-3.4% per year) and the United States (-5.9% per year).

Import Prices by Country

The average gym and fitness equipment import price stood at $X per ton in 2022, picking up by 3.7% against the previous year. Over the period under review, the import price, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2013 when the average import price increased by 9.9%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained 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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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