Fitness Equipment Market Size, Share, Growth Report 2028

Fitness Equipment Market: Industry Perspective

The global fitness equipment market size was worth around USD 13 billion in 2021 and is predicted to grow to around USD 17 billion by 2028 with a compound annual growth rate (CAGR) of roughly 4% between 2022 and 2028.

The report analyzes the global fitness equipment market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the fitness equipment industry.

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Fitness Equipment Market: Overview

Fitness deals with the readiness, fit people are well equipped as compared to non-fit people.  The fitness levels include all aspects of life and health. It affects physical, mental, and social health. Fitness is the ability of body systems to work efficiently. A fit and healthy person are able to carry out the typical activities of living, such as work, and still, have enough energy and vigor to respond to emergency situations and to enjoy leisure time activities.

Fitness includes five important components like flexibility, cardio-respiratory fitness, muscular endurance, muscular strength, and body composition. Fitness is vitally important to health and wellness as well as to the ability to engage in normal activities of daily living. Physical activity and exercise training programs should be designed with the intent of improving each of the key components of health-related physical fitness in addition to preventing chronic disease.

Fitness equipment consists of all machinery and physical activity monitoring equipment that is required for perfect exercises. In addition to this, requirement of fitness device has increased humungously owing to surge in health consciousness. Most predominately used fitness equipment is weight lifting equipment, treadmills, bicycle, weight training instruments, and strength-building equipment.  

Fitness Equipment Market: Dynamics

Rise in number of fitness centers and surge in gym memberships owing to health & fitness awareness among adult as well as millennial population will drive market growth. In addition to this, a prominent increase in obese populace and inflation in disposable income will proliferate expansion of fitness equipment industry in ensuing years.  Massive demand for high-quality fitness instruments for home installation will prompt rise in size of fitness equipment market in ensuing years. With COVID- 19 pandemic outbreak, working professionals prefer doing physical exercises at home and as per their convenience. This has led to huge sales of fitness equipment, thereby leading to a massive increment in the earnings of the fitness equipment market.

Furthermore, customers are deriving benefits of online fitness equipment through personalized training with help of digital workout or gym sessions. Supportive government programs and favorable schemes promoting health awareness among citizens have increased fitness units and health club establishments across the globe, thereby promoting market surge. Growing personality development and body-building trends among youths has enhanced gym subscription and also resulted into use of tread mills and spin bikes along with various kinds of cardiovascular equipment.  

Increasing prevalence of chronic diseases, changing unhealthy population, increasing geriatric population, and rising obese population are major factors responsible for the growth of fitness equipment market. In addition, new emerging innovative advances for cardiovascular fitness equipment are propelling the growth of fitness equipment market. Furthermore, increasing health awareness and demand for fitness equipment are expected to drive the growth of fitness equipment market in the forecast period. In spite of this, the high cost of fitness equipment is majorly affecting the growth of fitness equipment market. However, untapped market and increasing health club number may generate new opportunities in forecast period for fitness equipment market.

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Fitness Equipment Market: Segmentation

The global fitness equipment market is segmented based on equipment type, end-users, and region.

Based on the equipment type, the market of fitness equipment has been classified into cardio-respiratory equipment, muscular equipment, flexibility equipment, body fitness equipment and others. In 2019, cardio-respiratory equipment segment dominated the market of fitness equipment with major market share. In the forecast period, muscular equipment segment is expected to exhibit noticeable growth due to rising awareness of health consciousness. Improved muscular strength and endurance will help us to build better health.

Based on the end user, fitness equipment market has been segmented as the hospital, gym centers/ health club, homecare and others. Gym centers segment accounted for the highest share in fitness equipment market with high and increasing demand. In the forecast period, homecare segment is expected to generate more opportunities as a result of new challenges like getting out of the home to workout especially during the winter seasons. Thus there are plenty of indoor fitness equipment are available for seniors citizens to stay active.

Fitness Equipment Market: Report Scope

Fitness Equipment Market: Regional Analysis

Latin America To Dominate Growth Of Fitness Equipment Market Over 2022-2028

The fitness equipment market has been segmented on the basis of the region as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Expansion of fitness equipment industry in Latin America over assessment period is due to rise in number of health & fitness clubs in countries such as Brazil, Ecuador, and Argentina. With more persons in region becoming health consciousness, the regional market is predicted to gain traction in years ahead.

Asia Pacific is projected to grow at a high market growth rate for fitness equipment market in forecast period as a result of rising healthcare costs, increasing need of skilled gym trainers, focus on improving the quality of healthy life, and technological advancements in fitness equipment.

Fitness Equipment Market: Competitive Analysis

The global fitness equipment market is dominated by players like:

• Brunswick Corporation
• Nautilus Strength
• Precor Incorporated
• Johnson Health Tech. Co., Ltd.
• Technogym
• Amer Sports Oyji
• Icon Health & Fitness
• Cybex International

The global Fitness Equipment Market is segmented as follows:

By Equipment Type

• Cardio-Respiratory Equipment
• Muscular Equipment
• Flexibility Equipment
• Body Fatness Equipment
• Others

By End-User

• Hospital
• Gym Centers/Health Clubs
• Homecare
• Others

By Region

• North America

  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa