Recent Developments In The Fitness Equipment Industry

In September 2024, iFIT announced the launch of its new smart products lineup that includes new hardware, AI coach, and a new iconic outdoor content. The company debut around 40 different smart and smart enabled products.

In September 2024, Planet Fitness Inc., announces its commitment to expand access to some accessible exercise equipment’s.

In November 2023, Life Fitness introduced a new product of its cardio line named “Symbio”. Symbio is an immersive, four-machine collection. Symbio is a first-of-its-kind cardio equipment that blurs the line between the equipment and the excersier.

In 2023, Bayerwaldhof partnered with Life Fitness to furnish its new gym with the most superior fitness equipment. The collaboration will help improve the wellness experience of the hotel visitors by offering them superior exercise solutions.

In 2021, Johnson Health Tech (JHT) acquired Matrix Fitness South Africa, a former distributor, making JHT the first fitness equipment manufacturer to have a wholly owned subsidiary in Africa. This acquisition enhances JHT's footprint and activities in the African fitness equipment industry.

Impact of these development on Fitness equipment industry

iFIT announced the introduction of its new AI enabled coaching and smart products signals owing to the growing trend towards personalized fitness experience. These solutions provides real-time feedback, tailored workout solutions, and progress tracking.

Planet fitness commitment to accessible equipment will lead to growing awareness and need to serve diverse and aging population. These solution will help in catering to seniors, people with disabilities, and those who are recovering from injuries. By focusing on accessibility Planet Fitness will able to differentiate itself from other companies.

The introduction of four-machine cardio collection by Symbio’s will integrate user experience with the equipment’s that reflects towards engaging and immersive fitness equipment. The integration of immersive technologies such as advanced interaction and virtual reality will differentiate its products from others.

The partnership between Bayerwaldhof and Life Fitness will based on the growing trends towards combining wellness and hospitality industry. Hotels and resorts are increasingly offers state-of-art fitness equipment as its luxury amenity. This collaboration will pave a way for hotels, spas and resorts.

Johnson Health Tech (JHT) acquisition of Matrix Fitness South Africa will considered as a fitness brands in emerging market. The company will tailor fitness equipment as per specific needs in African market.

The fitness equipment industry is changing rapidly due to technological developments and growing consumer demand for well-being and health. Based on Coherent Market Insights (CMI), the fitness equipment industry is expected to grow at a compound annual growth rate of 5.1% through the forecast period, with the industry expected to reach US$ 18.69 billion by 2032. Growth is being driven by a growing demand for home-based fitness solutions, which is being driven by changing technologies, convenience, and increasing significance of personal health and fitness.