South-Eastern Asia: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in South-Eastern Asia

In 2022, the Southeast Asian gym and fitness equipment market decreased by -11.4% to $X for the first time since 2019, thus ending a two-year rising trend. The total consumption indicated noticeable growth from 2012 to 2022: its value 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, consumption increased by +16.5% against 2019 indices. As a result, consumption reached the peak level of $X, and then fell in the following year.

Production of Gym and Fitness Equipment in South-Eastern Asia

In value terms, gym and fitness equipment production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 19%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Exports of Gym and Fitness Equipment

Exports in South-Eastern Asia

Gym and fitness equipment exports expanded notably to X tons in 2022, picking up by 10% on 2021 figures. Overall, exports enjoyed resilient growth. The growth pace was the most rapid in 2019 when exports increased by 48%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, gym and fitness equipment exports surged to $X in 2022. In general, exports enjoyed resilient growth. The pace of growth appeared the most rapid in 2020 when exports increased by 48%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Vietnam was the largest exporting country with an export of about X tons, which amounted to 66% of total exports. Malaysia (X tons) ranks second in terms of the total exports with a 21% share, followed by Singapore (9.8%). Thailand (X tons) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the gym and fitness equipment exports, with a CAGR of +24.6% from 2012 to 2022. At the same time, Malaysia (+8.1%) and Thailand (+3.1%) displayed positive paces of growth. Singapore experienced a relatively flat trend pattern. From 2012 to 2022, the share of Vietnam increased by +41 percentage points.

In value terms, Vietnam ($X) remains the largest gym and fitness equipment supplier in South-Eastern Asia, comprising 63% of total exports. The second position in the ranking was held by Malaysia ($X), with a 23% share of total exports. It was followed by Singapore, with an 8.8% share.

In Vietnam, gym and fitness equipment exports expanded at an average annual rate of +33.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (+13.5% per year) and Singapore (-1.0% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, rising by 5.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2018 an increase of 16%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Thailand ($X per ton) and Malaysia ($X per ton), while Singapore ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+7.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Gym and Fitness Equipment

Imports in South-Eastern Asia

In 2022, after two years of growth, there was significant decline in supplies from abroad of gym and fitness equipment, when their volume decreased by -17.7% to X tons. Over the period under review, imports, however, showed a strong expansion. The pace of growth was the most pronounced in 2020 with an increase of 55% against the previous year. The volume of import peaked at X tons in 2021, and then declined markedly in the following year.

In value terms, gym and fitness equipment imports declined to $X in 2022. In general, imports, however, enjoyed buoyant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 41% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

The countries with the highest levels of gym and fitness equipment imports in 2022 were Malaysia (X tons), Indonesia (X tons) and Vietnam (X tons), together recording 74% of total import. Thailand (X tons) ranks next in terms of the total imports with a 13% share, followed by Singapore (4.9%). The Philippines (X tons) and Myanmar (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Myanmar (with a CAGR of +31.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Malaysia ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2022, with a combined 68% share of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +23.7%, 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

The import price in South-Eastern Asia stood at $X per ton in 2022, growing by 4.2% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 17% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Myanmar ($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 Philippines (+20.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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