Fitness Equipment Market
By Type (Cardiovascular Training Equipment, Strength Training Equipment, and Rehabilitation Training Equipment),
By Application (Body Building and Physical Strength, Weight Loss, Physical Fitness and Endurance and Mental Fitness),
By Sales Channel (E-Commerce, Retail),
By End Use (Home and Personal, Gym and Health Clubs, Hotels and Corporate and Hospital and Rehab Centers),
By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa):
Global Analysis and Forecast 2023-2033
The global Fitness Equipment market showcased a revenue of USD 13.24 billion in 2022 and is projected to witness a compounded annual growth rate (CAGR) of more than 5% over the forecast period of 2023-2033.
Russia-Ukraine War Impact
About the Market
Impact of COVID-19
Global Economic Slowdown
How is this report helpful
Fitness Equipment is a tool required to manifest the results of an exercise by applying appropriate pressure, strain, or endurance to improve the strength and stamina of a body part or muscles. The rise in health and appearance consciousness among consumers, increasing awareness about disease prevention, and inclination towards sports and adventure have primarily supported the market growth of Fitness Equipment.
Other Factors which support the market growth of Fitness Equipment include various trends and media influence. The younger and older generations are more inclined towards health and weight management owing to a surge in Health or fitness-related Trends. Cinematic or social media representations of appearance have also influenced people to be more Fitness Conscious of Look Good. Outgoing adventures such as trekking, sports, or running are also certain activities that demand Fitness, strength, and stamina. People want to enjoy the quality of life, which has created a major positive impact on the Fitness market. Developing economies are witnessing a rise in Gyms or Health Clubs, further increasing the need for Fitness Equipment. Urbanization in developing regions has created hectic schedules for people, where they desire to find ways in order to preserve energy and be efficiently functional. All these factors have collectively supported the market growth of Fitness Equipment.
Furthermore, the Travelling market has seen a rise in recent years, creating more influence around adventure Fitness such as trekking, swimming, or running. Companies are now focusing on designing equipment specifically for the strength demands of sporty activity. Running equipment has found profound operational use in Gyms or Health Clubs already. New advancements that offer efficient muscle training with the least time taken for an outcome to get visible are ruling the market opportunities.
Impact of Russia-Ukraine War on Fitness Equipment Market
The Russia Ukraine war had a notable impact on the fitness equipment market. Disruption in supply chain, followed by increasing prices and uncertainty in operations are among the major factors impacting the business opportunities within the region. Furthermore, fleeing of civilians to other nations due to war is limiting the overall target audience, reducing the scope of business.
Fitness Equipment: Market Scope
The Fitness Equipment market is primarily divided into four segments Equipment type, application, sales channel, and end use. Furthermore, these segments are subdivided into respective categories and cross-referenced to North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa for regional analysis. The Fitness Equipment type segment is further categorized into Cardiovascular Training Equipment, Strength Training Equipment, and Rehabilitation Training Equipment. The Application segment is segregated into Body Building and Physical Strength, Weight Loss, Physical Fitness and Endurance, and Mental Fitness. E-Commerce and Retail bifurcate the sales channel segment of the Fitness Equipment market. With respect to end users, the industry is analyzed by Home and Personal, Gym and Health Clubs, Hotels and Corporate and Hospital and Rehab Centres. Each of these segments is further classified into regions: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The historical dataset of 2018-2022 is provided in the report, whereas the forecast period of 2023-2033 is offered.
The cardiovascular Training Equipment segment will witness the highest growth rate between 2023-2033
Cardiovascular training equipment especially focuses on the training of Heart muscles or control of the functioning of Blood vessels. These are further divided into Treadmills, Elliptical Machines, Exercise Bikes, Climbers, Ropes, and Others. Treadmills are the most common hitting spot for gym-going people. They train the heart muscles by causing rapid pumping induced during fast jogging. Cardio Equipment is being innovated to be more intense, engaging, and compatible with fast-paced environments. Regular exercising of the Heart also ensures good Heart health in older age. Cardio Equipment is now being integrated with technology to gain more engagement. For instance, ICON Health & Fitness has launched Treadmills with an integrated Media and Video consumption screen. This offers engaging content displayed on the screen while an individual is working out to give a premium quality experience.
Weight loss segment within the application to witness the highest CAGR during the forecast timeframe
Fitness trends run closely parallel with obesity awareness. Media and Cinematic representations encourage people to be more good-looking. Influence from media has triggered market growth of Fitness equipment for weight management. Overweight or Obese individuals also anticipate the risk of Diabetes or Heart disease. Social Media has created a surge in the rapid distribution of various trends such as obesity awareness, appearance, weight management, or Disease prevention. Younger generations are more inclined towards such trends and influences. Fitness Recommendations from Gym trainers or Fitness Experts also create a sense of awareness among individuals to keep an optimum weight for functional efficiency. A rise in the circulation of awareness information through media channels would support the market growth of Fitness equipment for weight management in the future.
The Retail segment will capture the highest market share in the coming years
The reliability of live demos offered through the Retail sector has supported the market growth of this segment. E-commerce is unreliable and often risky for heavier and costlier equipment or machines. Retail is also better capable of handling the transport needs of Bulky items than the E-commerce sector. The commercial distribution of light equipment such as dumbells takes place through Retail after an individual has made a trial on themselves. Live experience while purchasing the equipment created more trust and thus support the market growth.
The gym and Health club segment will capture the highest market share in the coming years
The necessity for Physical Space in order to install and operate Fitness Equipment has supported the market growth of Gyms or Health clubs. Developing Regions are witnessing a rise in the number of Gyms or Health Clubs owing to an increase in the economy and disposable income. Growing trends and their circulation through media also creates a strong consumer base for subscription to such clubs or settings. The gym is an emerging industry where most consumers are inclined due to additional support of guidance provided by a trainer. Health and Fitness Equipment is mostly space-taking and requires a spacious installation and operation setup. Social Fitness clubs also employ a variety of equipment that require space. This is expected to support further market growth in the future as well.
Asia-Pacific to witness the highest growth rate during the forecast period
The rise in disposable income and emerging economic conditions have triggered the growth of the Fitness Equipment market in the Asia-pacific region. The rise in Health trends, a growing number of the younger population, and consumer inclination toward quality of life are other factors that support growth in this region.
Impact of COVID-19 on the Fitness Equipment Industry
COVID-19 negatively impacted the manufacturing end of the Fitness industry while creating a positive impact on the consumer end regarding the significance of Fitness services. COVID-19 created a surge in health trends, highlighting the importance of immunity and enhanced consciousness about disease prevention. This created ample market opportunities for Wellness and Fitness services. People were forced to train using at-home equipment during the lockdown. This created growth in the market of at-home exercise equipment. Awareness about Disease prevention also highlighted the significance of cardiovascular training equipment.
Fitness Equipment: Market Dynamics
The market dynamics section of the report covers an in-depth analysis of drivers, restraints, and opportunities impacting the Fitness Equipment market. The report also encompasses major market strategies practiced by the industry, followed by patent analysis, product analysis, competitive benchmarking of companies, PORTER and PESTLE analysis of the Fitness Equipment Industry, pricing analysis, and geographic competitiveness to provide a detailed understanding. The major players operating the market are Amer Sports Corporation, Body-Solid Inc, Core Health & Fitness, LLC., ICON Health & Fitness, Impulse (Qingdao) Health Tech Co., Ltd., Johnson Health Tech Co., Ltd., Nautilus, Inc., Peloton Interactive Inc., Shandong Aoxinde Fitness Equipment Co., Ltd., and Torque Fitness LLC. These companies cumulatively hold most of the Fitness Equipment market share and actively undergoes strategic development, such as new product launch, mergers, collaborations, business expansion, acquisitions, and long-term contracts to ensure market penetration. These companies also largely focus on research and development to gain technological competitiveness in the market. A detailed analysis of these companies is offered in the report.
Driver: Innovation to improve functioning and engagement
Companies largely focus on innovation and advancements to bring more efficient solutions to the market. Integration of television screens, designing a range of equipment, especially for outdoor activities, and designing foldable equipment are some of the innovative approaches being followed by key market players. For instance, Amer Sports Corporation especially designs equipment suitable for trekking, camping, or outdoor sports activities. Torque Fitness has come up with a foldable range of equipment to assure maximum comfort. Fitness Equipment manufacturing companies are also establishing partnerships with other fitness-conscious brands in order to increase their footprint.
Restrain: installation complexities
Fitness equipment is often installed through a comprehensive assembly of all the components and requires certain precision to set up an entire system. Their procurement, handling, or transport require special assistance and is often associated with the risk of damage. Lack of easy handling or maintenance may be a restrain for Fitness equipment. They also require high maintenance or damage repairing becomes costly. They also face competition from yoga, Zumba, and aerobics in Fitness trends.
Opportunity: Growing younger population in developing Regions
Developing regions are witnessing a rise in disposable income and an increase in the number of the younger population. Both these factors complement each other to create ample market opportunities for Fitness Equipment. Health trends are globally distributed or circulated through media, creating an influential impact to drive more opportunities in Fitness Services.
Fitness Equipment Market: Recent Developments
- In October 2021, iFIT announced multi-year relationships with the organisations behind four Abbott World Marathon Majors to become the Official Connected Treadmill and Digital Fitness Content Subscription partner of the Boston, Chicago, London, and New York City Marathons.
- Core Health & Fitness, which is a Fitness Equipment Company, acquires Wexer, A leader in Digital health and fitness offerings.
- In August 2021, Impulse launched an Air resistance training machine to support Air resistance activities and boost speed, agility, power, and endurance.
Fitness Equipment Market: Synopsis
The study of the Fitness Equipment market offers revenue and growth data sets of segments provided at the global, regional, and country levels. The historical data set of 2018-2022 is offered in the report, along with the forecast period of 2023-2033. For the purpose of analysis, Quadrant Market Insights (QMI) has segregated the Fitness Equipment market into four major segments as follows:
By Equipment Type
- Cardiovascular Training Equipment
- Strength Training Equipment
- Rehabilitation Training Equipment
- Body Building and Physical Strength
- Weight Loss
- Physical Fitness and Endurance
- Mental Fitness
By Sales Channel
By End Use
- Home and Personal
- Gym and Health Clubs
- Hotels and Corporate
- Hospital and Rehab Centers
The regional analysis of the fitness equipment market is as follows:
- Rest of Europe
- Rest of Asia-Pacific
Middle East & Africa
- South Africa
- Saudi Arabia
Key players operating in the fitness equipment industry are:
- Amer Sports Corporation
- Body-Solid Inc
- Core Health & Fitness, LLC.
- ICON Health & Fitness
- Impulse (Qingdao) Health Tech Co., Ltd.
- Johnson Health Tech Co., Ltd.
- Nautilus, Inc.
- Peloton Interactive Inc.
- Shandong Aoxinde Fitness Equipment Co., Ltd.
- Torque Fitness LLC
Fitness Equipment Market: Who Should Purchase, and How It Will Help Readers
- The report is best suited for top-level decision-makers, individuals who are supposed to take a leadership role or require market research to start a business, independent researchers, research institutes, and anyone who wishes to gain detailed strategic insights into the fitness equipment market.
- This report provides a qualitative and quantitative analysis of the market segments, current trends, estimations, and dynamics of the fitness equipment market analysis from 2018 to 2033 to identify the prevailing market opportunities.
- Market research and information related to key drivers, restraints, and opportunities are offered.
- Porter's five forces and PESTLE analysis highlight the potency of buyers and suppliers to enable stakeholders' market profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the fitness equipment segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional and global fitness equipment industry trends, key players, market segments, application areas, and market growth strategies.
- The report offers insights from primary interviews and CXOs of major industry players. It also offers a comprehensive contact and event repository to ensure future collaborations among industry stakeholders.
Fitness Equipment Market: Frequently Asked Questions (FAQ)
Q: How big is the fitness equipment market?
A: The global fitness equipment market showcased a revenue of USD 13.24 million in 2022 and is projected to witness a compounded annual growth rate (CAGR) of more than 5% over the forecast period of 2023-2033.
Q: Does the report have several fitness equipment numbers bifurcated by segments and regions?
A: The report offers a total number of fitness equipment market , further bifurcated into segments and regions. Please refer to the TOC page for more information.
Q: What are the major trends in the fitness equipment market?
A:Rising trend of virtual session, development of more immersive technology and increasing general awareness about healthy lifestyle to support business opportunities within the fitness equipment industry.
Q: How can I get the sample Report on the fitness equipment market?
A: The fitness equipment market report sample can be obtained on demand from the website. Also, 24*7 chat support and direct call services are provided to procure the sample report
Q: Is it possible to purchase a specific or customized report as per my needs
A: Yes, it is possible to purchase a specific part of the report or edit the scope of the report at your convenience. Feel free to drop us the mail/talk to our customer support or schedule a conversation to procure a customized report.
- Equipment Type
- Sales Channel
- End Use
- North America
- Latin America
- Middle East & Africa
- Innovation in equipment design to improve functioning and engagement
- Rising awareness about healthy lifestyle and more people inclining towards staying fit
- Complex setup and installation limiting direct to consumer market
Amer Sports Corporation, Body-Solid Inc, Core Health & Fitness, LLC., ICON Health & Fitness, Impulse (Qingdao) Health Tech Co., Ltd., Johnson Health Tech Co., Ltd., Nautilus, Inc., Peloton Interactive Inc., Shandong Aoxinde Fitness Equipment Co., Ltd., and Torque Fitness LLC.