Fitness Equipment Market is segmented By Product Type (Cardio Vascular Training Equipment, Strength Training Equipment, Other Fitness Equipment), By End User (Fitness Centers & Gym, Clubs, Recreational Centers, Home Gym, Hospitals), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Report Overview
Fitness Equipment Market is expected to grow at a CAGR of 11.2% during the forecast period (2024-2031).
The Fitness Equipment is an apparatus or a device used during physical activity to enhance the strength or conditioning effects of the exercise by providing either fixed or adjustable amounts of resistance or to enhance the experience or outcome of an exercise.
The major fitness equipment in cardiovascular fitness includes treadmills, bikes, and rowers and focuses on weight loss and fitness. The equipment associated with strength enhancement includes light commercial, upper/lower body, and benches that focus on building strength through weights.
Fitness Equipment Market Summary
| Metrics | Details |
| Market CAGR | 11.2% |
| Segments Covered | By Product Type, By End-User, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Fitness Equipment Market Dynamics
An increase in gym establishments across the globe, the presence of youth population increased disposable spending by individuals in fitness & diet, and improved lifestyle are driving the global fitness equipment market during the forecast period. An increase in the obese population and their gradual shift towards fitness management and government initiatives for health management are additionally contributing to the growth of the global fitness equipment market.
According to IRHA in 2017, the number of fitness centers and health clubs globally increased from 201 thousand in 2016 to 201.25 thousand in 2017.
Major factors hindering the global Fitness Equipment market during the forecast period due to the high cost associated with the advanced equipment.
Fitness Equipment Market Segmentation Analysis
Global fitness equipment market is segmented by product type and end-users. Product type includes cardiovascular training equipment, strength training equipment, and other training equipment, cardiovascular training equipment includes treadmills, incline trainers, ellipticals, bikes, cross-training, and rowers. The strength training equipment includes light commercial, upper/lower body, back & ABS, benches, plate tree or racks, accessories, and others, and accessories includes mats and dumbbells. The end-users segment includes fitness centers & gyms, clubs, recreational centers, home gyms, and hospitals.
The cardiovascular training equipment market dominates the global fitness equipment market during the forecast period owing to the rise in wide adoption of this equipment by the fitness centers, home gyms, and recreational centers and majorly among health-conscious individuals.
According to the study published in Asia Pacific Journals in 2018 cardiovascular training equipment such as treadmills and bikes are majorly preferred and more than 70% of the population is visiting a gym or health workout on this equipment.
Fitness Equipment Market Geographical Share
The global fitness equipment market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
North America dominates the global fitness market during the forecast period due to the presence of well-established fitness infrastructure, increase in health club visits individuals, and a rapid surge in fitness centers establishments across the region. The increase in awareness among the individuals regarding the presence of health clubs across the region is additionally driving the North America Fitness Equipment Market during the forecast period.
According to iHRSA Association in March 2018, Health clubs in the United States attracted 70 million users in 2017 a rapid rise from 57.3 million in 2016 to 298.3 million Americans aged 6 and older.
According to International Health, Racquet & Sports club in 2018, the total number of health club visits has also increased from 4.3billion in 2008 to 5.9 billion visits in 2017.
Asia-Pacific is expected to grow at higher CAGR during the forecast period owing to the rise in consumer preference regarding fitness and increased health consciousness, and huge presence of youth population associated with gym admissions.pacific is expected to grow at higher CAGR during the forecast period owing to rise in consumer preference regarding fitness and increased health consciousness, and huge presence youth population associated with gym admissions.
Competition Landscape
New product launches associated with novel technologies and the merger between the major companies and regional manufacturers for regional penetration are the key strategies adopted by the prominent players in the global Fitness Equipment market during the forecast period.
In January 2019, Fitness and wellness product manufacturer Dyaco launched a new line of medical and rehabilitation equipment as part of a global brand licensing agreement with Philips.
In April 2016, Technogym the leading producer of design and technology-driven fitness equipment and solutions launched a treadmill new breed skill mill for athletic training.
In January 2016, Nautilus, Inc. acquired octane fitness from north castle partners.
Major market players in the fitness equipment market are Brunswick, Icon Fitness, Yukon Fitness, Aerofit, Johnson Healthtech, Precor Incorporated, Technogym, Core health & fitness, Torque Fitness, and Impulse Health Tech Ltd.
