Slovakia: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in Slovakia

After two years of growth, the Slovak gym and fitness equipment market decreased by -52.9% to $X in 2022. In general, consumption, however, saw modest growth. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Gym and Fitness Equipment in Slovakia

In value terms, gym and fitness equipment production contracted to $X in 2022 estimated in export price. In general, production saw a slight curtailment. The growth pace was the most rapid in 2018 with an increase of 32% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Gym and Fitness Equipment

Exports from Slovakia

In 2022, overseas shipments of gym and fitness equipment increased by 11% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, continue to indicate a slight decline. The growth pace was the most rapid in 2021 when exports increased by 27% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, gym and fitness equipment exports amounted to $X in 2022. The total export value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 47%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Italy (X tons), Germany (X tons) and the United States (X tons) were the main destinations of gym and fitness equipment exports from Slovakia, together accounting for 27% of total exports. France, the Czech Republic, the UK, Sweden, Austria, Spain, China, the Netherlands, Hungary and Saudi Arabia lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +21.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and the United States ($X) appeared to be the largest markets for gym and fitness equipment exported from Slovakia worldwide, together accounting for 27% of total exports. France, the Czech Republic, Sweden, the UK, the Netherlands, Spain, China, Austria, Saudi Arabia and Hungary lagged somewhat behind, together comprising a further 41%.

Saudi Arabia, with a CAGR of +24.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average gym and fitness equipment export price stood at $X per ton in 2022, growing by 1.7% against the previous year. Overall, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.6% 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 increased by +73.0% against 2017 indices. The growth pace was the most rapid in 2018 when the average export price increased by 24% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Hungary ($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 the Czech Republic (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gym and Fitness Equipment

Imports into Slovakia

In 2022, approx. X tons of gym and fitness equipment were imported into Slovakia; waning by -30.7% compared with the year before. Over the period under review, imports, however, enjoyed noticeable growth. The most prominent rate of growth was recorded in 2018 when imports increased by 151%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, gym and fitness equipment imports reduced sharply to $X in 2022. In general, imports, however, saw temperate growth. The most prominent rate of growth was recorded in 2018 when imports increased by 138% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of gym and fitness equipment to Slovakia, accounting for a 54% share of total imports. Moreover, gym and fitness equipment imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), tenfold. The third position in this ranking was held by Italy (X tons), with a 2.8% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+9.9% per year) and Italy (+7.8% per year).

In value terms, China ($X) constituted the largest supplier of gym and fitness equipment to Slovakia, comprising 40% of total imports. The second position in the ranking was held by Italy ($X), with a 6.9% share of total imports. It was followed by Germany, with a 3.5% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.3% per year) and Germany (+7.8% per year).

Import Prices by Country

The average gym and fitness equipment import price stood at $X per ton in 2022, reducing by -2.2% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 26% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then dropped slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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