The global Fitness Equipment Market accrued earnings worth approximately 13(USD Billion) in 2021 and is predicted to gain revenue of about 17 (USD Billion) by 2028, is set to record a CAGR of nearly 4% over the period from 2022 to 2028. Fitness Equipment Industry share By Equipment Type, End-User, Region
The global Fitness Equipment Market accrued earnings worth approximately 13(USD Billion) in 2021 and is predicted to gain revenue of about 17 (USD Billion) by 2028, is set to record a CAGR of nearly 4% over the period from 2022 to 2028. The study provides assessment and analysis of the Fitness Equipment Market on a global & regional level. It offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2021 along with a forecast from 2022 to 2028 based on revenue
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.
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.
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.
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.
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. Latin America dominated the market with high market share due to increasing expenditure on personal care and majority of gym centers. 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.
Report Scope:
Report Attributes | Report Details |
---|---|
Report Name | Fitness Equipment Market Size Report |
Market Size in 2021 | 13(USD Billion) |
Market Forecast in 2028 | 17 (USD Billion) |
Compound Annual Growth Rate | CAGR of 4% |
Number of Pages | 177 |
Forecast Units | Value (USD Billion), and Volume (Units) |
Key Companies Covered | Brunswick Corporation, Nautilus Strength, Precor incorporated, Johnson Health Tech. Co., Ltd., Technogym, Amer Sports Oyji, Icon Health & Fitness, and Cybex International |
Segments Covered | By Type,By end-user, And By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA) |
Countries Covered | North America: U.S and Canada Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific Latin America: Brazil, Argentina, Chile The Middle East And Africa: South Africa, GCC, Rest of MEA |
Base Year | 2021 |
Historical Year | 2016 to 2020 |
Forecast Year | 2022 - 2030 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Key players influencing growth of fitness equipment industry and profiled in report are Brunswick Corporation, Nautilus Strength, Precor incorporated, Johnson Health Tech. Co., Ltd., Technogym, Amer Sports Oyji, Icon Health & Fitness, and Cybex International Inc.
The global Fitness Equipment Market is segmented as follows:
FrequentlyAsked Questions
Rise in number of fitness units and increase in gym subscriptions due to health & fitness awareness among adult & millennial population will drive market trends.
According to Zion market research report, The global Fitness Equipment Market accrued earnings worth approximately 13(USD Billion) in 2021 and is predicted to gain revenue of about 17 (USD Billion) by 2028, is set to record a CAGR of nearly 4% over the period from 2022 to 2028.
Latin America will contribute lucratively towards the global market earnings over the projected timeline. The regional market surge is subject to rise in number of health & fitness clubs in countries such as Brazil, Ecuador, and Argentina.
The key market participants include Brunswick Corporation, Nautilus Strength, Precor incorporated, Johnson Health Tech. Co., Ltd., Technogym, Amer Sports Oyji, Icon Health & Fitness, and Cybex International Inc.
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