Fitness Equipment Market

Global fitness equipment market has been witnessing significant growth over the past 2 years driven by rising health awareness and growing obesity rates. More people are recognizing the importance of maintaining a healthy lifestyle and regular exercise. The COVID-19 pandemic has further accelerated this trend as people aim to boost their immunity at home amid lockdowns and gym closures. Various types of fitness equipment allow consumers to workout according to their own schedule and preferences. Manufacturers are also introducing innovative products with advanced technologies and multi-functional designs to appeal to a wider audience. It is expected that the demand for high-end products will remain robust going forward.

Fitness equipment includes treadmills, weightlifting machines, and stationary bikes. These are used in home, gym, fitness the club, hotels, and corporate offices. This equipment helps in weight management, boost stamina, and remove excessive fat. Fitness equipment can be classified into cardiovascular training and weight training and are widely available in online and offline stores. The health club is the largest consumers of fitness equipment but these equipment are also gaining huge demand from the homecare sector due to the rising number of people adopting a healthy lifestyle and aspire to have a good personality.

Market Dynamics:

The key drivers fueling the market include growing health consciousness, expanding gyms and health clubs, thereby improving economic conditions, and increasing lifestyle diseases. However, high initial costs of advanced equipment and availability of cheaper alternatives are major challenges. On the positive side, growing prevalence of online training programs and videos is expanding the reach of home fitness solutions. Moreover, emerging economies present significant potential due to improving purchasing power and large untapped customer base in these regions. If manufacturers focus on developing low-cost, multifunctional devices, it can further accelerate market expansion in developing countries.

Key Features of the Study:

• This report provides in-depth analysis of the market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include, Brunswick Corp, Technogym SpA, Nautilus, Inc, Amer Sports Oyj, Health & Fitness, Inc., TRUE Fitness Technology, Inc., SportsArt Fitness, Inc., Iron Grip Barbell Company, The Kurt J. Lesker Company, and Adidas AG.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• Global fitness equipment market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the market.

Detailed Segmentation:

• By Equipment Type
  • Cardiovascular Training Equipment
  • Weight Training Machine
  • Weight Lifting Machine
• By End User
  • Chemical Synthesis Health clubs
  • Home/ Individual
  • Other commercial Organization
• By Distribution Channel
  • Offline
  • Online
• By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Top Companies In This Market
  • Brunswick Corp
  • Technogym SpA,
  • Nautilus, Inc
  • Amer Sports Oyj,
  • Health & Fitness, Inc.
  • TRUE Fitness Technology, Inc.
  • SportsArt Fitness, Inc.,
  • Iron Grip Barbell Company
  • The Kurt J. Lesker Company
  • Adidas AG