Fitness Equipment Market

Analysts at GMI Research estimates that the Fitness Equipment Market was worth USD 11.2 billion in 2021, and forecast to touch USD 17.3 billion in 2029, growing at a CAGR of 5.6% from 2022-2029.

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Market Dynamic

Key Drivers and Emerging Trends

The fitness equipment market is witnessing an upsurge in demand during the forecast period. This is attributed to the accelerating adoption of fitness equipment among the population around the world. The trend of sedentary lifestyle and hectic schedule have encouraged the individuals towards purchasing in-home fitness equipment, which in turn, is surging the market’s demand over the coming years. Stationary bicycles, weight lifting machines & strength, building machines, treadmills, and other machines are the most commonly used fitness equipment across the globe. Moreover, the increase in the number of gym memberships driven by the rising urban population is another factor that is responsible for growing the demand for fitness equipment.

According to United Nations report, in 2018, 55% of the total world’s population lived in urban areas, which is projected to increase to 68% by the end of 2050. This gradual shift in the residence of the human population from rural to urban areas is encouraging the individuals to take part in physical activities such as go to gym or do exercise at their home. This factor will have a positive impact on the growing demand of the market. In addition to this, there has been an upsurge in the penetration of home usage fitness equipment is the highest, particularly in the U.S. As per the National Health and Nutrition Examination Survey held in 2016, around 39.6% of the American adult population is suffering from obesity. With the increasing prevalence of obesity, people are increasing opting for home usage fitness equipment which can be used during the workout. The top players in the fitness equipment market are focusing on introducing different innovative techniques in the equipment to capture the highest share in the market. For example, Life Fitness, one of the leading players in the market, launched the F3 folding treadmill specially designed for the home consumers with wireless telemetry heart rate monitoring system. The continuous advancement in the fitness equipment is opening new doors for the growth of the market during the forecast period.

Restraint in the Fitness Equipment Market

On the other hand, the rising inclination of people towards different types of exercise such as dancing, aerobics, Pilates, and Yoga, which requires minimal usage of fitness equipment is one of the biggest factors that is likely to hamper the market growth.

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Device – Segment Analysis

Based on the Device, the strength segment is anticipated to grow at a higher CAGR during the forecast period. The increasing adoption of strength training kits, especially among the large youth population is a significant factor that is contributing to the growth of the segment in the market. On the other hand, the cardiovascular training segment is dominating the market over the forecast period. The major driver surging the growth of the segment is the inclination of individuals towards cardiovascular exercises as it helps in reducing body weight, decreases blood pressure, and increase the insulin sensitivity.

End-Use – Segment Analysis

On the basis of the End-use, the home segment is projected to lead the market during the forecast period. With the outbreak of COVID-19 pandemic, there has been an increase in the demand for home usage fitness equipment as people now prefer to workout at their homes rather than going to the gym or visiting yoga or dance classes. Moreover, the accelerating health awareness, along with the busy lifestyle of the customers has further propelled the demand of the segment in the market. However, on the other hand, the health club segment is growing at a higher CAGR over the forecast period. The health clubs offers both cardiovascular and strength training. The various benefits provided by health club such as gym training, swimming facilities, and spas, is one of the major factor that is driving the customers towards health club segment.

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Regional – Segment Analysis:

Based on the region, North America is expected to dominate the market over the next six years. This is mainly due to the strong presence of large obese or overweight population in North America. Additionally, the rising number of government regulations to encourage health consciousness among its citizens has further increased the market growth in this region. However, the Asia-Pacific is projected to grow at a faster CAGR during the forecast period. The significant factors that are boosting the demand of the segment include the rising youth population in major economies such as China and India, followed by the expansion of the fitness devices industry in Japan and South Korea.

Top Market Players

Various notable players operating in the market include Amer Sports, Cybex International Inc., Johnson Health Tech, Nautilus Inc., Paramount, TECHNOGYM S.p.A., Torque, ICON Health & Fitness, Inc., Core Health and Fitness, LLC, and TRUE, among others.

Segments covered in the Report:

The global Fitness Equipment market has been segmented on the basis of Device, End-use and key regions. Based on Device, the market is segmented into Cardiovascular Training, Strength Training and Others. Based on End-use, the market is segmented into Home, Health Clubs and Others. 

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Key questions answered in this research report:

• • At what pace is global Fitness Equipment market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Fitness Equipment market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Fitness Equipment market?
  • Which device generated maximum revenues in 2021 and identify the most promising device during the forecast period?
  • What are the various end-use of global Fitness Equipment market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD 11.2 billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Device, By End-use, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Amer Sports, Cybex International Inc., Johnson Health Tech, Nautilus Inc., Paramount, TECHNOGYM S.p.A., Torque, ICON Health & Fitness, Inc., Core Health and Fitness, LLC, and TRUE among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Fitness Equipment Market by Device

• • Cardiovascular Training
  • Strength Training
  • Others

Global Fitness Equipment Market by End-use

• • Home
  • Health Clubs
  • Others

Global Fitness Equipment Market by Region

• • North America Fitness Equipment Market (Option 1: As a part of the free 25% customization)
    • By Device
    • By End-use
    • US Market All-Up
    • Canada Market All-Up
  • Europe Fitness Equipment Market (Option 2: As a part of the free 25% customization)
    • By Device
    • By End-use
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Fitness Equipment Market (Option 3: As a part of the free 25% customization)
    • By Device
    • By End-use
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Fitness Equipment Market (Option 4: As a part of the free 25% customization)
    • By Device
    • By End-use
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Fitness Equipment (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Amer Sports
  • Cybex International Inc.
  • Johnson Health Tech
  • Nautilus Inc.
  • Paramount
  • TECHNOGYM S.p.A.
  • Torque
  • ICON Health & Fitness, Inc.
  • Core Health and Fitness, LLC
  • TRUE