Southern Asia: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in Southern Asia

The South Asian gym and fitness equipment market was estimated at $X in 2022, remaining stable against the previous year. Overall, consumption showed a buoyant expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Gym and Fitness Equipment in Southern Asia

In value terms, gym and fitness equipment production expanded to $X in 2022 estimated in export price. Over the period under review, production posted a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 55%. Over the period under review, production attained the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Exports of Gym and Fitness Equipment

Exports in Southern Asia

In 2022, after four years of growth, there was significant decline in overseas shipments of gym and fitness equipment, when their volume decreased by -20.4% to X tons. In general, exports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 58%. As a result, the exports reached the peak of X tons, and then declined notably in the following year.

In value terms, gym and fitness equipment exports fell sharply to $X in 2022. Over the period under review, exports, however, enjoyed prominent growth. The growth pace was the most rapid in 2020 with an increase of 48%. Over the period under review, the exports reached the peak figure at $X in 2021, and then declined dramatically in the following year.

Exports by Country

In 2022, India (X tons) was the largest exporter of gym and fitness equipment, mixing up 86% of total exports. It was distantly followed by Pakistan (X tons), comprising a 13% share of total exports.

Exports from India increased at an average annual rate of +10.3% from 2012 to 2022. At the same time, Pakistan (+16.0%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +16.0% from 2012-2022. Pakistan (+4.9 p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by -1.6% from 2012 to 2022, respectively.

In value terms, India ($X) remains the largest gym and fitness equipment supplier in Southern Asia, comprising 71% of total exports. The second position in the ranking was held by Pakistan ($X), with a 27% share of total exports.

In India, gym and fitness equipment exports expanded at an average annual rate of +9.7% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, rising by 2.6% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the export price increased by 19% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the export prices failed to regain momentum.

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 Pakistan ($X per ton), while India totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+3.6%).

Imports of Gym and Fitness Equipment

Imports in Southern Asia

In 2022, supplies from abroad of gym and fitness equipment decreased by -17% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 133% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then fell notably in the following year.

In value terms, gym and fitness equipment imports shrank to $X in 2022. In general, imports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 98% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then fell in the following year.

Imports by Country

India prevails in imports structure, finishing at X tons, which was near 86% of total imports in 2022. It was distantly followed by Bangladesh (X tons), comprising a 7.5% share of total imports. Sri Lanka (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the gym and fitness equipment imports, with a CAGR of +22.0% from 2012 to 2022. At the same time, Bangladesh (+16.6%) displayed positive paces of growth. By contrast, Sri Lanka (-2.8%) illustrated a downward trend over the same period. While the share of India (+31 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Sri Lanka (-15.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported gym and fitness equipment in Southern Asia, comprising 82% of total imports. The second position in the ranking was taken by Bangladesh ($X), with an 8.2% share of total imports.

In India, gym and fitness equipment imports increased at an average annual rate of +11.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bangladesh (+22.2% per year) and Sri Lanka (-4.1% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, with an increase of 5.5% against the previous year. Overall, the import price, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2016 when the import price increased by 7.9% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Bangladesh ($X per ton), while Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+4.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :