Industry: Healthcare | Publish Date: 28-Nov-2024 | No of Pages: 582 | No. of Tables: 194 | No. of Figures: 178 | Format: PDF | Report Code : HC36
The global Fitness Equipment Market size was valued at USD 12.43 billion in 2021 and is predicted to reach USD 16.56 billion by 2030, with a CAGR of 2.8% from 2022-2030.
Any machine or apparatus utilized during physical activity, to sculpt the body, manage the BMI, improve bone & muscle strength, as well as boost-up the immunity and stamina, is known as fitness equipment. Commonly used fitness equipment are treadmills, stationary bicycles, ellipticals, strength-building machines, stretching machines, weightlifting machines, and others. Physical activities involving fitness equipment are recommended by medical practitioners to cope with certain ailments.
According to the Global Burden of Disease report presented by the World Health Organization, about 4 million people died of obesity worldwide, in the year 2017. At the global level, 1.9 billion adults (18+age) were overweight of which 650 million people were obese. Additionally, in the year 2019, nearly 38 million children under the age of 5, were either overweight or obese. This global scenario has fostered the fitness equipment market growth in the past and is expected to supplement the market growth in coming future.
The increasing prevalence of obesity, diabetes, hypertension, bone deformations, and cardiac diseases, is leading to higher demand for health and fitness equipment, thereby propagating the growth of the fitness equipment market.
Furthermore, factors such as proliferating number of gyms, health-clubs and training centres, higher adoption of in-home fitness equipment, attractive yearly membership packs offered by gyms to influence more customers, and the increasing influence of the social-media trend to stay fit, are anticipated to pave new avenues for the growth of the global fitness equipment market, throughout the forecast period.
However, high costing fitness equipment and space constraints are the limiting factors, anticipated to hamper the growth of the global fitness equipment market, during the forecast period.
Moreover, increasing awareness regarding fit & healthy lifestyles, higher standards of living, and government initiatives emphasizing on the importance of staying fit, are the factors expected to create lucrative opportunities for the growth of global fitness equipment market, in coming future.
The global fitness equipment market share has been analyzed based on type, end user and geography. Based on type, the fitness the global market is segmented into cardiovascular training equipment, strength training equipment and others. The cardiovascular training segment is sub-classified into treadmill, stationary bike, elliptical, rowing machine, and others. The strength training equipment segment is further divided into weight-lifting equipment, weights, barbells & ladders, extension machines, and power racks. Based on end users, the industry is divided into home consumer, health club/gym, and other commercial users. The other Commercial User segment is further sub-segmented into hospitals & medical center, hotel, corporate office, and public institution. Geographic breakdown and analysis of each of the previously mentioned segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America region is expected to dominate the global fitness equipment market, accounting for the highest market share throughout the forecast period. This is attributed to a higher inclination towards fitness trends, increased awareness regarding healthy lifestyles, unhealthy food habits and sedentary lifestyles leading to higher requirements of exercising equipment. Furthermore, well-established gyms, training centers, and health clubs in this region along with availability of highly advanced training equipment, tend to foster the growth of the global industry.
Asia Pacific region demonstrate a substantial growth in the fitness equipment market and is expected to grow with the highest CAGR values throughout the forecast period, owing to higher prevalence of diseases like hypertension, diabetes, obesity, and others, specifically in the youth. Furthermore, rapid urbanization, increasing awareness towards healthy lifestyles, government initiatives encouraging healthy & fit lifestyles and increase in per capita disposable income, are fueling the growth of the market in this region.
The fitness equipment industry is highly competitive and consists of various market players that include Johnson Health Tech Co. Ltd., Matrix Fitness, Icon Health & Fitness, Inc., Torque Fitness LLC., Nautilus, Inc., True Fitness Technology, Inc., Technogym S.p.A., Impulse (Qingdao) Health Tech Co. Ltd., Exigo-UK, Amer Sports Corporation, Kettler (GB) Limited, Octane Fitness Life Fitness a subsidiary of Brunswick Corporation, Nautilus, Inc., and Core Health and Fitness LLC among others.
The key players are employing strategies such as joint ventures, collaboration, capacity expansion, mergers, and acquisition in-order to gain stronger position in the global market.
For instance, in February 2020, Johnson Health Tech (JHT), one of the major players in fitness equipment market, announced the purchase of 60% share of Fuji Medical Instruments Mfg. Co., Ltd, the parent company of Fujiiryoki brand massage chairs, in approximately 57.72 million USD.
In the same month, Matrix Fitness, one of the leading companies in the market, announced its partnership with Smart Fit, with an aim to equip 200 SmartFit facilities with its premium equipment.
In April 2020, BeaverFit LLC., the global leader in mobile as well as outdoor fitness equipment, entertaining both individual and commercial audience, announced its acquisition over Mobile Fitness Equipment Inc., a leading national fitness equipment provider; thereby reinforcing BeaverFit’s strategy to commercialize its revolutionary fitness training products in the global fitness equipment market.
In May 2020, Vitality Group, a global health & wellness company in the fitness equipment market, entered a strategic partnership with Health Fitness Corporation, a leading provider of fitness center management and wellness services, to encourage healthy changes in individuals and organizations.
The fitness equipment market report provides the quantitative analysis of the current market and estimations through 2022-2030 that assists in identifying the prevailing market opportunities to capitalize on.
The study comprises a deep dive analysis of the market trend including the current and future trends for depicting the prevalent investment pockets in the market.
The report provides detailed information related to key drivers, restraints, opportunities, and their impact on the global market.
The report incorporates competitive analysis of the market players along with their market share in the global market.
The SWOT analysis and Porters Five Forces model is elaborated in the study of the market.
Value chain analysis in the fitness equipment market study provides a clear picture of the stakeholders’ roles.
Cardiovascular Training Equipment
Treadmill
Elliptical
Stationary Bike
Rowing Machine
Others
Strength Training Equipment
Weight-Lifting Equipment
Weights
Barbells & Ladders
Extension Machines
Power Racks
Other Equipment
Home Consumer
Health Club/Gym
Other Commercial User
Hotel
Corporate Office
Hospitals & Medical Center
Public Institution
North America
U.S.
Canada
Mexico
Europe
UK
Germany
Spain
Portugal
Benelux
France
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Korea
Hong Kong
Indonesia
Vietnam
Malaysia
Australia
Rest of Asia-Pacific
RoW
Brazil
Remaining countries
• Johnson Health Tech
• iFIT Health & Fitness, Inc.
• Life Fitness, Inc.
• Technogym S.p.A
• Core Health & Fitness, LLC
• Impulse (Qingdao) Health
• Peloton Interactive, Inc.
• ShuHua Sports Co., Ltd.
• Rogue Fitness
• ABC Fitness Solutions
Parameters |
Details |
Analysis Period |
2021–2030 |
Base Year Considered |
2021 |
Forecast Period |
2022–2030 |
Market Size Estimation |
Billion (USD) |
Market Segmentation |
By Type (Cardiovascular Training Equipment, Strength Training Equipment, Other Equipment) By End User (Home Consumer, Health Club/Gym, Other Commercial User) By End Use Industry (Construction, Automotive & Transportation, Electronics, Other End User) |
Geographical Segmentation |
North America (U.S., Canada, Mexico) Europe (UK, Germany, Italy, France, Spain, Portugal, Benelux, Rest of Europe), Asia-Pacific (China, Japan, Australia, India, Korea, Hong Kong, Indonesia, Vietnam, Malaysia, Rest of APAC), Rest of the World (Brazil, Remaining Countries) |
Companies Profiled |
Johnson Health Tech Co. Ltd., Matrix Fitness, Icon Health & Fitness, Inc., Torque Fitness LLC., Nautilus, Inc., True Fitness Technology, Inc., Technogym S.p.A., Impulse (Qingdao) Health Tech Co. Ltd., Exigo-UK, Amer Sports Corporation, Kettler (GB) Limited, Octane Fitness Life Fitness a subsidiary of Brunswick Corporation, Nautilus, Inc., and Core Health and Fitness LLC. |