Ukraine: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in Ukraine

The Ukrainian gym and fitness equipment market stood at $X in 2022, approximately reflecting the previous year. Over the period under review, consumption, however, recorded a buoyant increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Gym and Fitness Equipment in Ukraine

In value terms, gym and fitness equipment production stood at $X in 2022 estimated in export price. Over the period under review, production posted a remarkable increase. The pace of growth appeared the most rapid in 2020 when the production volume increased by 54%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Gym and Fitness Equipment

Exports from Ukraine

After three years of growth, overseas shipments of gym and fitness equipment decreased by -64.9% to X tons in 2022. Overall, exports showed a slight slump. The most prominent rate of growth was recorded in 2021 when exports increased by 38% against the previous year. As a result, the exports reached the peak of X tons, and then shrank notably in the following year.

In value terms, gym and fitness equipment exports dropped dramatically to $X in 2022. Over the period under review, exports, however, recorded prominent growth. The pace of growth was the most pronounced in 2021 when exports increased by 65% against the previous year. As a result, the exports attained the peak of $X, and then declined dramatically in the following year.

Exports by Country

Germany (X tons), Slovenia (X tons) and Poland (X tons) were the main destinations of gym and fitness equipment exports from Ukraine, together accounting for 50% of total exports. The United States, the UK, Russia, Lithuania, Azerbaijan, Moldova, Denmark, Slovakia and the Czech Republic lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +84.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for gym and fitness equipment exported from Ukraine were Germany ($X), Poland ($X) and Slovenia ($X), with a combined 52% share of total exports.

Slovenia, with a CAGR of +92.1%, recorded the highest growth rate of the value of exports, in terms of 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, picking up by 19% against the previous year. In general, the export price continues to indicate prominent growth. The pace of growth was the most pronounced in 2018 when the average export price increased by 33% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to the UK ($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 Denmark (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gym and Fitness Equipment

Imports into Ukraine

In 2022, after four years of growth, there was significant decline in purchases abroad of gym and fitness equipment, when their volume decreased by -60.1% to X tons. In general, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when imports increased by 48%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, gym and fitness equipment imports fell sharply to $X in 2022. Over the period under review, imports recorded a noticeable reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 54%. As a result, imports reached the peak of $X, and then contracted rapidly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest gym and fitness equipment supplier to Ukraine, accounting for a 88% share of total imports. It was followed by Slovakia (X tons), with a 2.6% share of total imports. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 1.8% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+2.6% per year) and Taiwan (Chinese) (-20.1% per year).

In value terms, China ($X) constituted the largest supplier of gym and fitness equipment to Ukraine, comprising 70% of total imports. The second position in the ranking was held by Slovakia ($X), with a 7% share of total imports. It was followed by Taiwan (Chinese), with a 3.1% share.

From 2012 to 2022, the average annual growth rate of value from China stood at -2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+10.5% per year) and Taiwan (Chinese) (-12.5% per year).

Import Prices by Country

In 2022, the average gym and fitness equipment import price amounted to $X per ton, rising by 18% against the previous year. In general, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.2% 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 +15.5% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 23%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: 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 (+13.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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