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2021
Fitness Equipment Market

Fitness Equipment Market

by Type (Cardiovascular Training Equipment, Strength Training Equipment, and Others), End User (Home Consumer, Health Club/Gym, and Other Commercial User): Opportunity Analysis and Industry Forecast, 2021-2028
Update Available On-Demand

Report Code: A00523
Pages: 545
Aug 2021 | 129054 Views
Author(s) : Vidit Gite , Roshan Desmukh
Tables: 368
Charts: 60
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COVID-19

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The global fitness equipment market size was $11.6 billion in 2020, and is projected reach $14.8 billion by 2028, registering a CAGR of 3.3% from 2021 to 2028.

Fitness equipment comprise all machines and monitoring devices required for various physical exercises. The report covers the study of the fitness equipment industry along with its types, users, and geographic prospects. The segments analyzed in the report by users of fitness equipment comprise home consumer, health clubs, and other commercial users (corporate offices, hotels, hospitals & medical centers, and public institutions). 

Fitness-Equipment-Market,-2021-2028

The global fitness equipment market is evolving at a decent pace in the recent years as the people are becoming enthusiastic toward fitness. The fitness industry has substantially grown in terms of model of gyms along with a holistic concept of fitness by offering dedicated fitness equipment to an individual. The top factors influencing the market growth include global rise in obese population, surge in disposable income in developing countries, and increase in young population across developing regions. However, the outbreak of COVID-19 is another factor that has positively impacted the preferences of people toward their fitness goals. Amidst COVID-19, the fitness equipment industry is searching ways to stay appropriate by offering fitness equipment to consumers. People are becoming more conscious toward their health and looking for several fitness equipment that can be used at home.

Self-care is becoming a vital part of people’s health amid COVID-19, including mental, physical, and emotional health. The pandemic has triggered health awareness among the public to boost their immune system and physical fitness. The imposition of lockdown all across the world has also resulted in the gym closure, enforced the shift of gym goers toward home fitness equipment from the year 2020. Increased awareness regarding health & fitness is expected to significantly drive the home fitness equipment market growth. However, the overall fitness equipment market size has witnessed a dip in the same year.

Segment review

The global fitness equipment market is segmented into type, end user, and region. Depending on type, the fitness equipment market is categorized into cardiovascular training equipment, strength training equipment, and other equipment. 

The cardiovascular training equipment segment is bifurcated into treadmill, elliptical, stationary bike, rowing machine, and others. By end user, the market segregated into home consumer, health club/gym, and other commercial user. COVID-19 has impacted the overall market negatively. On the other side, the manufacturers and e-commerce platforms are focusing towards more innovative and effective fitness products to serve the home users. 

Based on product type, the global fitness equipment market share is divided into cardiovascular training equipment, strength training equipment, and other equipment. The cardiovascular training equipment includes treadmills, stationary bicycles and elliptical & others. The strength training equipment comprises of free weights and other machines such as shoulder press, leg press, chest press, and cable crossover. The other equipment segment includes activity monitors or trackers and body analyzers.

Fitness Equipment Market
By Type

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Cardiovascular training equipment segment would exhibit the highest CAGR of 3.4% during 2021-2028.

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By user, the global fitness equipment market, is categorized into home consumers, health clubs, and other commercial users. Home users purchase different fitness equipment for their personal use. Health clubs/gyms/fitness centers purchase fitness equipment for commercial purposes. Fitness equipment is an essential prerequisite for their core business. The pandemic caused the closure of gym and health clubs all over the world and negatively impacted the overall business. However, other commercial users, such as hotels, hospitals & medical centers, public institutions, and corporate offices, purchase fitness equipment to improve their business offerings.

Fitness Equipment Market
By End User

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Other Commercial User segment would exhibit the highest CAGR of 6.9% during 2020-2027.

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The report focuses on the market growth prospects, restraints, and opportunities during the fitness equipment market forecast period. The study provides Porter’s five forces analysis to understand the impact of various factors such as competitive intensity of competitors, bargaining power of suppliers, threat of substitutes, threat of new entrants, and bargaining power of buyers of the market.

Fitness Equipment Market
By Region

2028
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific would exhibit the highest CAGR of 5.7% during 2021-2028.

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Some of the key players in the fitness equipment market analysis includes ICON Health & Fitness, Inc., Johnson Health Tech Co., Ltd., Anta Sports, Technogym S.p.A, Peloton, Nautilus, Inc., Core Health and Fitness, LLC, TRUE Fitness Technology, Inc., Impulse (Qingdao) Health Tech Co., Ltd., and Torque Fitness, LLC.

Key Benefits For Stakeholders

  • This study provides an in-depth analysis of the global fitness equipment market opportunities with current fitness equipment market trends and future estimations to elucidate the investment pockets in this market.
  • The report provides information regarding key drivers, restraints, and opportunities with impact analysis.
  • SWOT analysis of key market players illustrates their internal business environment.
  • The value chain analysis of the industry highlights the key intermediaries involved and elaborates their roles and value addition at every stage in the value chain.
  • The quantitative analysis of the market during the period of 2020–2028 has been provided to elaborate the market potential.             

Fitness Equipment Market Report Highlights

Aspects Details
BY TYPE
  • CARDIOVASCULAR TRAINING EQUIPMENT
    • TREADMILLS
    • STATIONARY CYCLES
    • ELLIPTICAL & OTHERS
  • STRENGTH TRAINING EQUIPMENT
    • FREE WEIGHTS
    • OTHER MACHINES
  • OTHER EQUIPMENT
    • ACTIVITY MONITORS
    • BODY ANALYZERS
By End User
  • Home consumer
    • Home
    • Apartment
    • Gyms in Apartment
  • Health clubs/gym
  • Other commercial user
    • Hotels
    • Corporate offices
    • Hospitals & Medical Centers
    • Public Institutions (Schools, Universities, and Others)
By Region
  • NorthAmerica  (U.S., Canada, Mexico)
  • Europe  (UK, France, Germany, Italy, Spain, Portugal, Benelux, Rest of Europe)
  • Asia-pacific  (Japan, Korea, China, India, HongKong, Indonesia, Vietnam, Australia, Malaysia, Rest o f Asia-Pacific)
  • LAMEA  (Brazil, Rest of LAMEA)
Key Market Players ANTA SPORTS PRODUCTS LIMITED, CORE HEALTH & FITNESS, LLC, ICON HEALTH & FITNESS, INC., IMPULSE HEALTH TECHNOLOGY CO., LTD., JOHNSON HEALTH TECH. CO., LTD., NAUTILUS, INC., PELOTON INTERACTIVE INC., TECHNOGYM S.P.A., TORQUE FITNESS, LLC, TRUE FITNESS TECHNOLOGY, INC.
 

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To cater to the changing trends for physical activity and exercises across the globe, the fitness equipment industry is continuously developing innovative exercise products for both home use and commercial gym environments. The aim is to maximize fitness results while enhancing overall workout experience. For instance, earlier, fitness equipment had a standard user interface; however, these user interfaces are now evolving to include more sophisticated smartphone-like features. In addition, to allow users to customize and monitor individual workouts, fitness machines provide advanced entertainment functionality, such as the ability to watch live TV, listen to music, and access the internet during workout.

Major manufacturers of fitness equipment are exploring options to improve overall user satisfaction and machine equipment effectiveness (OEE) by developing a next-generation fitness machine product line. The product development and innovations have reduced machine down time and improved user engagement and are anticipated to expand the market over the coming years.  

 

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FREQUENTLY ASKED QUESTIONS?

A. The fitness equipment market size is valued at $11.8 billion in 2021, and is expected to reach $14.8 billion by 2028.

A. The fitness equipment market is growing at a CAGR of 3.3% during the forecast period (2021-2028).

A. Kindly raise an inquiry on the portal and our salesperson will get in touch with you with available purchase options.

A. The year 2020 is the base year calculated in the report.

A. ICON Health & Fitness, Inc., Johnson Health Tech Co., Ltd., Technogym S.p.A, Nautilus, Inc., Peloton Inc., and Nautilus, Inc. are few of the top companies in the global market.

A. The global fitness equipment market is segmented into type, end user, and region. Depending on type, the market is categorized into cardiovascular training equipment, strength training equipment, and others. By end user, the market segregated into home consumer, health club/gym, and other commercial user.

A. North America is the leading region in the global marketplace, however, Asia-Pacific will provide more business opportunities for fitness equipment market in future.

A. Market closures, poor logistics, and restrictions on public appearance in fitness institutions in affected countries due to COVID-19 are expected to impact the market negatively in 2021.

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