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), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Apr 2020  |  Report ID: GMI443  |  Authors: Preeti Wadhwani, Saloni Gankar

Report Format: PDF   |   Pages: 575   |   Base Year: 2019

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Fitness Equipment Market size valued at USD 12 billion in 2019 and is anticipated to grow at 4% CAGR between 2020 and 2026. The global industry shipments are projected to exceed 14 million units by 2026. Rising awareness about health and well-being among consumers is driving the market growth.

Rise in obesity rates mainly in urban population across the globe has resulted in increased health and fitness awareness among consumers. According to the Center for Disease Control (CDC), in 2017, around 70 million people in the U.S were obese. Long-term consequences of obesity disorders, such as cardiovascular illnesses, gallbladder diseases, breathing issues, cancers, and osteoarthritis, are the major causes of concern among the younger population in the U.S. along with childhood obesity, which is a leading cause of heart diseases.

To prevent such diseases, people are increasingly focusing on their fitness and wellness, driving the fitness equipment market demand in residential and commercial applications. Medical concerns have an impact on the mortality rate. At the global level, a rise in the health issues of cholesterol, diabetes, and heart-related problems is being witnessed.

The rising mortality rates have forced governments to introduce various health norms, such as organic food consumption, clean living, relocation to suburban areas, and rigorous exercise plans, to improve human life expectancy.

Fitness Equipment Market

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Further, rise in the number of fitness clubs globally is supporting the market growth. Fitness clubs offer a range of equipment catering to specific individual market demand. According to IHRSA global report, the health club industry generated a revenue of USD 94 billion in 2018 as over 210,000 clubs served 183 million members. Consumers are preferring health clubs and gyms to maintain and improve their health by focusing on personalized workouts.

The fitness equipment market will witness a small dip in 2020 due to recent coronavirus (COVID-19) pandemic. With the spread of the virus, several government administrations globally have enforced lockdowns. This has led to closures of several fitness centers and gyms owing to need for maintaining social distancing to stop the spread of the virus. This has led to a decline in the demand for fitness equipment from offices and health clubs.

Fitness Equipment Market Report Coverage
Report Coverage Details
Base Year:2019Historical Data for:2015 to 2019
Market Size in 2019:USD 12 billionForecast Period:2020 to 2026
Forecast Period 2020 to 2026 CAGR:4%No. of Pages:575
2026 Value Projection:USD 15 billion Tables, Charts & Figures:1254
Geographies covered (18):U.S., Canada, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Australia, Brazil, Mexico, Argentina, UAE, Saudi Arabia, South Africa
Segments covered:Equipment, End-Use
Growth Drivers:
  • Growing health and fitness consciousness in the U.S.
  • Increasing corporate wellness programs and cross industry demand
  • Government healthcare initiatives and increasing geriatric population in Europe
  • Increase in chronic diseases in Asia Pacific
  • Rise in disposable income in Asian countries
Pitfalls & Challenges:
  • High cost of the equipment
  • Growth of used fitness equipment market

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Demand for cardiovascular fitness equipment to enhance stamina and cardio capacity

In 2019, cardiovascular equipment accounted for over 55% market revenue share. Over the coming years, a surge in demand for treadmill both at fitness centers and homes will be witnessed on account of its advantages such as weight loss, heart strength, and improved joint flexibility. In addition, treadmills also provide blood pressure and heart rate monitoring features for its patients.

Moreover, the fitness equipment market is witnessing a high demand for elliptical machines as they help end users build stamina & endurance and enable them to target a specific muscle group. The flexibility offered by elliptical machines to perform steady cardio exercise as well as high-intensity training will boost the market growth.

Upsurge in the installations of fitness equipment in home is boosting the market revenue

U.S. fitness equipment market by end-use

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The fitness equipment market size from home users is anticipated to increase in the coming years driven by rising health concerns and sedentary lifestyles of consumers. Home gyms enable end users to choose cost-effective equipment that perfectly suits individual health demands. Additionally, home gym provides users with a professional workout experience, protecting their privacy.

Several fitness equipment manufacturers are launching advanced home fitness equipment in the market. This helps them strengthen their product portfolio and increase market dominance. For instance, in December 2019, Life Fitness introduced its Life Fitness On Demand, a library of digital classes, for its cardio products, wherein the classes were led by instructors based in Chicago and New York.

In December 2019, Schwinn, a fitness equipment brand, expanded its indoor cardio line with digital cycling bike and treadmill. The products featured workout options for a range of fitness levels.

Robust healthcare system in Europe will boost the fitness equipment market growth

Europe fitness equipment market by region

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Europe market is predicted to rise exponentially during the forecast period impelled by high level of health consciousness in the region. There is a rapid rise in the number of gyms and health clubs in Austria, Sweden, Germany, and France. As per the report by EuropActive, in 2018, the total number of fitness club members increased by 3.5% to 62.2 million in Germany.

The region is also witnessing a sharp rise in the number of health & fitness club memberships. According to EuropActive, in terms of market penetration, 21.6% of the total population in Sweden have gym memberships, followed by 21.4% in Norway, and 18.6% in Denmark. The fitness equipment market in Southern and Eastern Europe is still at a nascent stage compared to other regions.

New product launches remain the key market growth strategies of industry players

Industry players are focusing on launching new products to strengthen their product portfolio. In March 2018, Technogym S.p.A., a manufacturer of fitness equipment, launched the product SKILLRUN, an athletic training treadmill, to enhance its product portfolio for athletes. Market players are focused on integrating latest technologies into the machines to meet the changing customer demands.

Key companies in the fitness equipment market include Icon Health & Fitness, Johnson Health Tech Hoist Fitness Systems, Amer Sports Corporation, True Fitness, Technogym S.p.A, Torque Fitness, Nautilus Inc., and Brunswick Corporation. Increasing competition amongst key players is encouraging them to launch differentiated products to sustain in the competitive market.

The fitness equipment market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2015 to 2026, for the following segments:

Market by Equipment

  • Cardiovascular
    • Elliptical machines
    • Treadmills
    • Exercise bikes
    • Climbers
    • Others
  • Strength training
    • Weight-lifting equipment
    • Weights
    • Barbells and ladders
    • Extension machines
    • Power racks
    • Others
  • Others

Market by End-Use

  • Home
  • Health club
  • Office
  • Hotels

The above information is provided on a regional and country basis for the following:

  • 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
    • Saudi Arabia
    • UAE
    • South Africa

Frequently Asked Questions (FAQ) :

The market size of fitness equipment valued at USD 12 billion in 2019.
The industry share of fitness equipment is anticipated to grow at 4% CAGR between 2020 and 2026.
According to the analysts at GMI, the global industry shipments are projected to exceed 14 million units by 2026.
The European market demand can be credited to high level of health consciousness in the region along with sharp rise in the number of health & fitness club memberships.
Key companies in the market include Icon Health & Fitness, Johnson Health Tech Hoist Fitness Systems, Amer Sports Corporation, True Fitness, Technogym S.p.A, Torque Fitness, Nautilus Inc., and Brunswick Corporation.
The cardiovascular equipment segment dominated the industry with over 55% revenue share in 2019, says this research report by Global Market Insights, Inc.

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Premium Report Details

  • Published Date: Apr 2020
  • Pages: 575
  • Tables: 1231
  • Charts / Figures: 23
  • Companies covered: 11
  • Countries covered: 18

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