Global Fitness Equipment Market, By Product Type (Strength Training Equipment, Cardiovascular Training Equipment, Body Composition Analyzers, Fitness Monitoring Equipment and Others), Application (Weight Loss, Body Building, Physical Fitness, Mental Fitness and Others), Gender (Male and Female), Buyer Type (Individual, Institution and Others), Usage (Residential and Commercial), Type (Outdoor and Indoor), End User (Health Clubs/Gyms, Home Consumer, Hotels, Corporates, Hospital and Medical Centers, Public Institutions and Others), Distribution Channel (Retail Stores, Specialty and Sports Shops, Department and Discount Stores, Online and Others) - Industry Trends and Forecast to 2030.
Fitness Equipment Market Analysis and Insights
The growing desire for health and fitness now drives the exercise equipment industry. The growth of the fitness equipment market is driven by key factors such as increasing urbanization, the prevalence of obesity and chronic diseases due to unhealthy lifestyles, and growing corporate wellness programs and demand from various industries. Moreover, growing awareness about the consequences of increasing obesity, the growing geriatric population, and the growing demand for minimally invasive and non-invasive surgeries fuel the market’s overall growth. On the other hand, high costs of installation or setup of equipment or devices and increasing demand for the resale of cost-saving exercise equipment are estimated to restrain the market growth during the forecast period.
However, introducing other training systems and changing, customer preferences are restraining the growth of the fitness equipment market.
Data Bridge Market Research analyzes that the global fitness equipment market is expected to reach the value of USD 17,580.99 million by 2030, at a CAGR of 7.0% during the forecast period. This market report also covers pricing analysis, patent analysis, and technological advancements in depth.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2020-2015)
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Quantitative Units
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Revenue in USD Million, Pricing in USD
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Segments Covered
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By Product Type (Strength Training Equipment, Cardiovascular Training Equipment, Body Composition Analyzers, Fitness Monitoring Equipment and Others), Application (Weight Loss, Body Building, Physical Fitness, Mental Fitness and Others), Gender (Male and Female), Buyer Type (Individual, Institution and Others), Usage (Residential and Commercial), Type (Outdoor and Indoor), End User (Health Clubs/Gyms, Home Consumer, Hotels, Corporates, Hospital and Medical Centers, Public Institutions and Others), Distribution Channel (Retail Stores, Specialty and Sports Shops, Department and Discount Stores, Online and Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Netherlands, Russia, Switzerland, Belgium, Turkey, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, and Rest of Middle East and Africa
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Market Players Covered
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Nautilus, Inc., Life Fitness, Johnson Health Tech, TECHNOGYM S.p.A, TRUE, Impulse (QingDao) Health Tech CO., LTD, iFIT, Torque Fitness., Body-Solid Inc., Core Health & Fitness, LLC., Precor Incorporated, Afton, Fitness World, Shanghai Define Health Tech CO LTD, REALLEADER FITNESS CO., LTD, Shandong Aoxinde Fitness Equipment Co., Ltd., BFT Fitness, Yanre Fitness, FITKING FITNESS, and Fitline India.
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Global Fitness Equipment Market Definition
Fitness equipment basically refers to the equipment that are generally utilized during any physical or fitness related activities. They help in enhancing the strength or for improving the physical fitness. Generally, the fitness equipment includes various equipment such as free weights, rowing machines, treadmills, weight machines, stationary bikes, elliptical cross tanner and stair stepper among others. Exercise equipment is a machine that resists a person while they perform physical exercises to increase strength and endurance, manage weight and improve flexibility. It helps to enhance the personality and appearance. Treadmills, elliptical machines, weight machines, free weights and other exercise equipment are available. These devices have been used by fitness centers, gyms, home users and corporate offices. According to (VA.gov), cardio equipment with preset programs is considered commercial. Use programs for those with a wide range of aerobic abilities.
Global Fitness Equipment Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Growing Number of People Involved in Physical Activities Competitions
Physical activity has significant health benefits for the heart, body, and mind, and exercise helps prevent and manage non-communicable diseases such as cardiovascular disease, cancer, and diabetes. Nowadays, people worldwide can take their hard fitness training results to competitive tournaments and test their skills at various functional fitness events. There are many fitness activities competitions, such as powerlifting, bodybuilding, long distance running events, fun runs, and cross-fit competitions. So many companies and fitness organizations have taken the initiative and arranged various fitness competitions and outdoor activities. The participation rate of men was higher (20.7 percent) than women (18 percent). This included sports, exercise, and other active leisure activities.
Thus, growing numbers of people involved in physical activities drive market growth.
- Covid-19 Pandemic Resulted in a Rising Demand for Home Fitness Equipment
The COVID-19 pandemic has had a substantial positive impact on the fitness equipment sector. The pandemic has imposed new norms and regulations, such as social distancing and lockdowns, to prevent the spread of the virus. As a result, people worldwide were forced to stay at home, which led to new trends such as working at home. The growing popularity of home workouts has increased the demand for exercise equipment during the pandemic. The increased focus on self-care, exercise, and health have helped fitness apps and platforms gain significant traction in the wake of the pandemic. In addition, the pandemic has also propelled non-fitness enthusiasts to give more importance to maintaining their health and fitness, which thus helps to generate traction.
Moreover, the COVID-19 pandemic has also enhanced the demand for at-home fitness equipment and fitness apps so much that the number of fitness equipment sold-out online and fitness app downloads increased by almost 30% in 2020.
Restraint
- High Cost Associated With Fitness Equipment
Some fitness equipment available at very high prices, especially for middle and low-income in developing and underdeveloped countries, acts as a limiting factor for growth. With technological advancement, the price hike is evident in the case of high-tech fitness equipment and fitness wearable devices. Incorporating multiple features like high quality display, increased power efficiency, tracking of additional vitals, wireless connectivity, and upgraded software, among others, directly increases the initial cost of the fitness equipment and fitness device. Various consumers' use of wearable devices is increasing their expenditure on fitness healthcare. An increase in the application coverage by wearable devices increases its demand which directly aids in its high cost.
Thus, high cost associated with fitness equipment is hampering the market growth.
Opportunity
- Growing Penetration of E-Commerce Platforms, The Internet, and Smartphones
People in today's world require a smart phone for communication, buying groceries taking consultation check-up with doctors, to be aware of self-fitness. Many people can't think or imagine their life without smartphones. People want to get fit by home based methodology in their comfort rather than following up in the gyms and fitness clubs. So, the fitness app acts like a bridge between people receiving fitness schedule, diet plan, and exercises, among others, by simply using their fitness app. With technological advancement and development in countries, more people use smartphones in their daily lives are increasing.
Challenge
- Shifting of Customer Preferences
Digital fitness has quickly become an industry savior as more and more people get used to it. Realistically, the current digital fitness boom will die as lockdown restrictions ease. During the lockdown, online training provided people with structure, fitness, a sense of community, and communication. They kept people healthy. Online training are here to stay as consumers expect hybrid offerings in the future. While many eventually return to their regular studio routines, a gym that offers online training is more accessible to members. Gym members are becoming more price-conscious with the many fitness options available online today and their competitive prices. And as gyms and studios prepare to diversify into online and studios in the future, the competition is fierce. After the initial purchase, people are willing to pay more for a service that meets their needs and provides added value. They are not necessarily looking for the cheapest or highest quality option; they look for value.
Post-COVID-19 Impact on Global Fitness Equipment Market
The COVID-19 pandemic has had a somewhat positive impact on the fitness equipment market. The pandemic has imposed new norms and regulations, such as social distancing and lockdowns, to prevent the spread of the virus. As a result, people all over the world were forced to stay at home, which led to new trends such as work at home the growing popularity of home workouts has increased the demand for exercise equipment during the pandemic. The increased focus on self-care, exercise and health has helped fitness apps and platforms gain significant traction in the wake of the pandemic.
Manufacturers are making various strategic decisions to bounce back post-COVID-19. The players are conducting multiple R&D activities and product launch and strategic partnerships to improve the technology and test results involved in the market.
Recent Developments
- In September 2022, Nautilus, Inc., an innovation leader in home fitness, announced the launch of the Bowflex BXT8J treadmill with JRNY adaptive fitness app compatibility at select online and in-store retail partners providing customers with a complete fitness solution at an affordable price point. The Bowflex BXT8J treadmill offers high-performance cardio and the ability to pair the user’s device to the JRNY adaptive fitness app. This has helped company to expand its product portfolio
- In June 2022, Johnson Health Tech announced acquisition of the fitness division of Cravatex Brands Limited, a prior distributor for Johnson Health Tech, have become first fitness equipment company to have a wholly-owned subsidiary in India. With its continued investment in product development, manufacturing expertise, Johnson Health Tech upgraded the fitness industry. This has helped company to expand its business
Global Fitness Equipment Market Scope
Global fitness equipment market is segmented into product type, application, gender, buyer type, usage, type, end user, and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
GLOBAL FITNESS EQUIPMENT MARKET, BY PRODUCT TYPE
- Strength Training Equipments
- Cardiovascular Training Equipments
- Body Composition Analyzers
- Fitness Monitoring Equipment
- Others
On the basis of product type, the global fitness equipment market are segmented into strength training equipment, cardiovascular training equipment, body composition analyzers, fitness monitoring equipment, and others.
GLOBAL FITNESS EQUIPMENT MARKET, BY APPLICATION
- Weight Loss
- Body Building
- Physical Fitness
- Mental Fitness
- Others
On the basis of application, the global fitness equipment market is segmented into weight loss, body building, physical fitness, mental fitness and others.
GLOBAL FITNESS EQUIPMENT MARKET, BY GENDER
- Male
- Female
On the basis of gender, the global fitness equipment market is segmented into male and female.
GLOBAL FITNESS EQUIPMENT MARKET, BY BUYER TYPE
- Individual
- Institution
- Others
On the basis of buyer type, the global fitness equipment market is segmented into individual, institution and others.
GLOBAL FITNESS EQUIPMENT MARKET, BY USAGE
- Residential
- Commercial
On the basis of usage, the global fitness equipment market is segmented into residential and commercial.
GLOBAL FITNESS EQUIPMENT MARKET, BY TYPE
- Outdoor
- Indoor
On the basis of type, the global fitness equipment market is segmented into indoor and outdoor.
GLOBAL FITNESS EQUIPMENT MARKET, BY END USER
- Health Clubs/Gyms
- Home Consumers
- Hotels
- Corporates
- Hospitals & Medical Centers
- Public Institutions
- Others
On the basis of end user, the global fitness equipment market is segmented into health clubs/gyms, home consumer, hotels, corporates, hospital and medical centers, public institutions and others.
GLOBAL FITNESS EQUIPMENT MARKET, BY DISTRIBUTION CHANNEL
- Retail Stores
- Specialty & Sports Shops
- Department & Discount Stores
- Online
- Others
On the basis of distribution channel, the global fitness equipment market is segmented into retail stores, specialty and sports shops, department and discount stores, online and others.
Global Fitness Equipment Market Regional Analysis/Insights
The global fitness equipment market is analyzed and market size information is provided based on country, product type, application, gender, buyer type, usage, type, end user, and distribution channel.
Global fitness equipment market comprises of the countries U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Netherlands, Russia, Switzerland, Belgium, Turkey, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, and Rest of Middle East and Africa.
North America is dominating due to the presence of key market players in the largest consumer market with high GDP. U.S. is expected to grow due to its latest advanced technology and inventions in the fitness equipment.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, and impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Fitness Equipment Market Share Analysis
Global fitness equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus on the global fitness equipment market.
Some of the major players operating in the global fitness equipment market are Nautilus, Inc., Life Fitness, Johnson Health Tech, TECHNOGYM S.p.A, TRUE, Impulse (QingDao) Health Tech CO., LTD, iFIT, Torque Fitness., Body-Solid Inc., Core Health & Fitness, LLC., Precor Incorporated, Afton, Fitness World, Shanghai Define Health Tech CO LTD, REALLEADER FITNESS CO., LTD, Shandong Aoxinde Fitness Equipment Co., Ltd., BFT Fitness, Yanre Fitness, FITKING FITNESS, and Fitline India among others.
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