NEW YORK, Feb. 2, 2022 /PRNewswire/ — The latest analysis from BizVibe, a leading company insights platform, provides detailed insights for hundreds of fitness equipment rental companies and thousands of consumer goods rental companies worldwide. BizVibe’s fitness equipment rental company insights highlight the strong influence that the growth of the rental economy is expected to have in the coming years for market participants.
Key Industry Trend – Growth of the Rental Economy
An increasing number of businesses are entering the consumer goods rental industry, offering leasing options on a wide variety of products including fitness equipment, furniture, tools, laptops, and more. With the financial uncertainty created by COVID-19, a growing number of people are opting to rent expensive items rather than spend the money to buy them outright, which is helping drive industry growth.
Home fitness equipment in particular has received a boost from the pandemic. With the closure of gyms and the need to spend more time at home, consumers are looking for safe ways to exercise, and renting fitness equipment is one way to satisfy that need. The wide availability of fitness videos and apps is also encouraging people to exercise at home rather than attend fitness classes or have in-person sessions with a personal trainer.
Trend Geographic Relevance – High Relevance in North America and Europe
Fitness equipment rental demand is high in North America, where it is expected to account for a substantial amount of the industry’s growth over the next few years. However, Europe is expected to see significant growth as well. Factors such as high disposable income and a continuing trend towards health-consciousness and wellness activities make home exercise equipment a popular choice, particularly in areas where living space is not at a premium.
View All Fitness Equipment Rental Company Insights on BizVibe
- Detailed analysis of 100+ fitness equipment rental companies
- Risk of doing business for all fitness equipment rental companies
- Industry trends and challenges expected to impact fitness equipment rental companies
- Regional, national, and global competitors/similar companies
- Key products and services for each fitness equipment rental company
- List of key executives and decision makers for each fitness equipment rental company
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