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Fitness Equipment Market Size By Equipment (Cardiovascular [Elliptical Machines, Treadmills, Exercise Bikes, Climbers], Strength Training [Weightlifting, Weights, Barbells & Ladders, Extension Machines, Power Racks]), By End Use (Home, Health Clubs, Office, Hotel), COVID-19 Impact Analysis, Regional Outlook, Price Trend Analysis, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI443
  • Published Date: Jun 2021
  • Report Format: PDF

Industry Trends

Fitness Equipment Market size exceeded USD 10 billion in 2020 and is expected to expand at over 11% CAGR from 2021 to 2027. The global industry shipments are anticipated to cross 25 million units by 2027.

Fitness Equipment Market

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The expanding virtual fitness market will spur the demand for high-quality fitness equipment that can be easily installed at homes. Busy working professionals prefer to undertake online fitness sessions to enjoy exercising in the comfort of their homes and as per convenience. In response to the growing home fitness equipment industry, market players are launching digitally connected solutions for consumers. Consumers are leveraging the benefits of digitally connected fitness equipment to enjoy a personalized training experience through online workout classes.

In 2020, the coronavirus (COVID-19) pandemic hampered the fitness equipment market due to the provisional closure of health clubs and gyms following the lockdowns imposed globally. The industry observed a temporary downfall owing to the declining demand from fitness centers. Concerns associated with the spread of the virus through physical contact restricted several people from visiting the gyms. This factor however resulted in the increasing demand for fitness equipment from homes, as people preferred to exercise indoors to ensure safety.

The roll out of vaccines coupled with the reopening of gyms in 2021 will support the market. The industry will regain traction with fitness centers paying specific attention to equipment sanitization and social distancing in the workout space.

Increasing demand for cardiovascular equipment that helps to prevent obesity will augment the market revenue

The U.S. cardiovascular equipment market is projected to grow at more than 11% CAGR through 2027 propelled by the sharp rise in obesity rates in the country, resulting in diabetes, hypertension, and cardiac arrests. In March 2021, among 71,491 U.S. adults that were hospitalized with COVID-19, about 50% were obese and 28% were overweight.

Increasing awareness about the consequences of obesity that include high blood pressure, heart strokes, and diabetes will spur the demand for high-performance fitness equipment. The market is poised to gain significant traction with the rise in the number of health clubs and fitness centers incorporating advanced equipment catering to the changing health patterns and consumer demands.

Rise in the number of health clubs in China to drive the fitness equipment market expansion

China Fitness Equipment Market

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The Chinese market is estimated to witness around 16% CAGR from 2021 to 2027 led by the increasing number of fitness centers incorporating high-end fitness equipment to attract consumers. The gym membership penetration degree in the top 18 cities was about5% in 2019. China had the highest number of heart disease deaths in 2019. This factor has resulted in increasing awareness about health & well-being, in turn, boosting the number of fitness centers. The rise in the health club membership rates will encourage the adoption of high-performance fitness equipment, in turn, fueling the market growth.

Demand for immersive and customized workouts is driving the acceptance of connected fitness equipment

Europe Fitness Equipment Market

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Europe fitness equipment market accounted for above 30% market revenue share and will see steady growth through 2027. High awareness of fitness and increasing disposable income propelling the adoption of digitally connected fitness equipment. In response to the high demand for advanced equipment, manufacturers are launching new solutions catering to the changing consumer demands. For instance, in February 2021, Technogym S.p.A launched MyRun, a home treadmill with on-demand training experiences designed to offer customized walking or running programs suitable for users of all levels, from beginners to sports enthusiasts. The increasing awareness about health will support the connected fitness equipment demand.

Innovative product launches form a key strategy amongst market players

Companies are focusing on launching differentiated products to solidify their position and capture a large market share. For instance, in October 2019, Nautilus Inc. unveiled a digital platform JRNY that incorporates AI to offer tailored workouts that adjust automatically with the user. With the launch, the company aims to offer enhanced solutions to its customers. Similarly, Matrix Fitness offers a training console that offers a guided strength training experience. The intelligent training console is available on the premium ultra-series from Matrix. With the launch, the company aims to offer an enhanced digitally connected, intuitive, and personalized strength training solution. Increasing competition amongst market players will boost the industry competitiveness.

Key fitness equipment market players include Technogym S.p.A, Johnson Health Tech, Hoist Fitness Systems, Icon Health & Fitness, Amer Sports Corporation, True Fitness, Nautilus Inc., Torque Fitness, Peloton Interactive Inc., among others.

This market research report on fitness equipment includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in units from 2017 to 2027, for the following segments:

Market, By Equipment

  • Cardiovascular
    • Elliptical machines
    • Treadmills
    • Exercise bikes
    • Climbers
    • Others
  • Strength Training
    • Weightlifting
    • Weights
    • Barbells & Ladders
    • Extension Machines
    • Power Racks
    • Others
  • Others

Market, By End-Use

  • Home
  • Health Clubs
  • Office
  • Hotel

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa


Authors: Preeti Wadhwani, Saloni Gankar

Frequently Asked Questions (FAQ) :

Fitness equipment market size was valued at USD 10 billion in 2020 and will grow at a CAGR of 11% between 2021 and 2027.

The U.S. cardiovascular equipment industry will expand at a CAGR of 11% from 2021 to 2027 due to the sharp increase in obesity rates that lead to hypertension, diabetes, and cardiac arrests.

China fitness equipment industry share will record a CAGR of 16% between 2021 and 2027 owing to the rising adoption of high-end fitness equipment by increasing number of fitness centers.

Europe fitness equipment market will register steady growth through 2027 on account of the surging awareness regarding fitness and the rising disposable income boosting the adoption of digitally connected fitness equipment.

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 11
  • Tables & Figures: 1284
  • Countries covered: 18
  • Pages: 675

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