[188 Pages Report] The Fitness Equipment Market size was estimated at USD 17.01 billion in 2023 and expected to reach USD 17.97 billion in 2024, at a CAGR 5.75% to reach USD 25.17 billion by 2030.
Fitness equipment refers to a wide range of devices and accessories designed to facilitate regular physical activity and help individuals achieve their fitness goals. These goals include improving cardiovascular endurance, enhancing muscular strength and flexibility, promoting weight loss, or rehabilitating injuries. Fitness equipment can be broadly categorized into two main types: cardiovascular equipment and resistance equipment. As the global population becomes more conscious about health and wellness, there has been a noticeable increase in gyms and fitness clubs, leading to an increased demand for advanced fitness equipment. Furthermore, chronic diseases are on a steady rise globally. As a result, more people are seeking ways to maintain a healthier lifestyle by incorporating regular exercise into their routines. However, the high cost associated with the fitness equipment and the availability of counterfeit products is hampering the market growth. To overcome these issues, companies are investing in research and development. The demand for home fitness equipment has surged due to busy lifestyles, increasing disposable incomes, and the desire for convenience. Moreover, companies are integrating technology into modern-day fitness equipment, revolutionizing the industry.
Cardiovascular training equipment includes treadmills, ellipticals, stationary bikes, rowing machines, and stair climbers, and it is essential for individuals seeking to improve their cardiovascular health, endurance, and overall caloric expenditure. These equipment caters to consumers who prioritize aerobic exercises and look for low-impact options that are gentle on joints. Strength training equipment includes weight benches, dumbbells and kettlebells, and resistance bands, and it focuses on muscle building and toning through resistance-based exercises. This equipment targets consumers who prefer anaerobic exercises and wish to improve their strength, power, and muscle mass. While cardiovascular equipment caters to those focusing on endurance and calorie burning with low-impact activities, strength training equipment targets individuals looking to build muscle mass and increase overall body strength.
The offline retail store segment consists of brick-and-mortar stores specializing in selling fitness equipment, catering to customers who prefer a tangible shopping experience, allowing them to see, touch, and test the products before making a purchase. The demand for this segment arises from those who value personalized service and seek professional advice from trained sales staff. The online retail store segment has witnessed rapid growth due to the increasing preference for e-commerce platforms among consumers seeking convenience. Customers appreciate the ability to compare prices and specifications easily while enjoying a wider selection than typically available at local stores. Comparing offline and online retail stores, offline retail stores continue to appeal to those who appreciate the tangible experience of trying out products and receiving expert advice before purchasing. In contrast, online retail stores are becoming increasingly popular due to their convenience, competitive pricing, and broader range of options available.
Fitness centers and gyms have specific requirements for fitness equipment as they primarily seek commercial-grade equipment that withstands heavy use and is durable enough to last for years. Moreover, they require a diverse range of apparatuses catering to different workout routines, preferences, and target muscles. Home consumers have distinct preferences when selecting fitness equipment as they prioritize space-saving options as they often have limited areas dedicated to workouts. Additionally, home users value versatility in their equipment, which is adaptable to multiple workout routines, since they generally purchase fewer devices than gyms. Both fitness centers & gyms and home consumers seek high-quality fitness equipment catering to a broad range of workouts. However, their priorities differ significantly, with gyms focusing on commercial-grade durability and variety while home users emphasizing space-saving options and versatility in individual machines.
In the Americas region, specifically in the United States and Canada, there is a high demand for fitness equipment due to increasing health awareness among consumers and a rising number of sports clubs and gyms. Technological advancements such as connected devices and digital platforms integrated with fitness equipment are driving consumers' interest in customized workout experiences. In Europe, countries including Germany, France, Italy, Spain, and the UK dominate the fitness equipment market. The European market reflects growing awareness about health benefits associated with regular exercise. In the EMEA region, the Middle East & Africa markets are witnessing increased demand for premium quality fitness equipment due to rising disposable incomes in some countries, including UAE and Saudi Arabia. In the Asia-Pacific region, China is expected to dominate the fitness equipment market due to rapid urbanization, leading to higher disposable incomes and increased investments in gym facilities by local governments. Japan's aging population has resulted in an increased focus on healthcare-related initiatives that include an emphasis on physical exercise, hence boosting sales of home-based fitness equipment. In India, millennials' rapidly changing lifestyles and rising health consciousness are driving the demand for fitness equipment in gyms, health clubs, and homes.
The FPNV Positioning Matrix is pivotal in evaluating the Fitness Equipment Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Fitness Equipment Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Chris Hemsworth’s Centr Introduces All-New Line of Strength Equipment and Fitness Accessories
Centr has recently introduced 27 new products for fitness equipment. These products, including Fitness Kits and Strength Training Equipment, are now available online and in 3,000 Walmart stores. These physical products are designed with a sleek and modern aesthetic, perfectly complementing the digital membership tools offered by Centr. [Published On: 2023-09-12]
We’re investing in £175k worth of new gym equipment!
Luton Sports Village gym has invested £175,000 in new cardio equipment to enhance customers' experience and motivation. Moreover, the gym now offers more popular equipment and has introduced a revised functional area that includes the Hammer Strength HD Tread curved treadmill and Air Bike. [Published On: 2023-09-11]
TRX ANNOUNCES ACQUISITION OF YBELL FITNESS
TRX has recently acquired YBell to offer customers a high-utility experience with minimal frills. With the integration of YBell into TRX's ecosystem, consumers, personal trainers, and gym owners access a comprehensive range of functional training equipment and related education. This strategic move solidifies TRX's commitment to providing top-notch fitness equipment and education to its valued clientele. [Published On: 2023-06-27]
The report delves into recent significant developments in the Fitness Equipment Market, highlighting leading vendors and their innovative profiles. These include Amer Sports Corporation, Body-Solid, Inc., Core Health & Fitness, LLC, Decathlon S.A., Dyaco International Inc., Echelon Fit US, HAMMER SPORT AG, Horizon Fitness, iFIT Inc. by Amynta Group, Impulse (QingDao) Health Tech Co., Ltd., Jerai Fitness Pvt. Ltd., Johnson Health Tech Co., Ltd., Life Fitness, Nautilus, Inc., Nityasach Fitness Pvt. Ltd., Nortus Fitness, Precor Incorporated, Rogue Fitness, Shandong EM Health Industry Group Co., Ltd., Technogym S.p.a, Torque Fitness, True Fitness Technology, Inc., TRX, Tuff Tread, and Yanre Fitness.
This research report categorizes the Fitness Equipment Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Product
- Cardiovascular Training Equipment
- Stationary Cycles
- Treadmills
- Strength Training Equipment
- Cardiovascular Training Equipment
- Distribution
- Offline Retail Store
- Online Retail Store
- End-user
- Fitness Centers & Gyms
- Home Consumers
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
- What is the market size and forecast of the Fitness Equipment Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Fitness Equipment Market?
- What are the technology trends and regulatory frameworks in the Fitness Equipment Market?
- What is the market share of the leading vendors in the Fitness Equipment Market?
- Which modes and strategic moves are suitable for entering the Fitness Equipment Market?
- Preface
- Research Methodology
- Executive Summary
- Market Overview
- Market Insights
- Fitness Equipment Market, by Product
- Fitness Equipment Market, by Distribution
- Fitness Equipment Market, by End-user
- Americas Fitness Equipment Market
- Asia-Pacific Fitness Equipment Market
- Europe, Middle East & Africa Fitness Equipment Market
- Competitive Landscape
- Competitive Portfolio
- List of Figures [Total: 22]
- List of Tables [Total: 368]
- List of Companies Mentioned [Total: 25]
The market for home fitness equipment has seen a significant increase in demand lately, with people choosing to invest in their health. The pandemic has further accelerated the trend, and people are looking for ways to stay fit while staying indoors. Fitness equipment companies have seen a surge in sales and are introducing new, innovative products to keep up with the demand.
Gym equipment such as weight lifting sets, treadmills, and exercise bikes are some popular home fitness equipment people buy. Several other equipment options are available, such as punching bags, jump ropes, resistance bands, and kettlebells. The fitness equipment market has various products to suit different fitness goals and people's preferences. With such a diverse range of available equipment, people can create a personalized workout routine that suits them best.
As the market grows, so does the innovation in fitness equipment. With new technological advancements, companies are introducing connected fitness equipment, such as bikes and treadmills, which allow users to compete against others, set goals, and track progress. These products have apps that analyze user data and provide personalized training programs. They offer a unique workout experience, making the fitness journey more interactive and exciting.
Investing in home fitness equipment is not only convenient but also cost-effective. With a diverse range of products available in the market, every budget has an option. This makes it an attractive option for people who want to stay fit but don't want to break the bank.
The trend of home fitness equipment is on a steady rise, and it is expected to continue growing in the coming years. People are becoming more aware of the importance of staying healthy and fit, and investing in fitness equipment is the perfect way to achieve this. With a wide range of equipment available, people can create a personalized workout routine that suits their fitness goals and preferences. Moreover, the fitness equipment market is becoming more innovative and exciting with technological advancements. Investing in home fitness equipment is cost-effective and convenient, making it an attractive option for fitness enthusiasts worldwide.
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