Fitness Equipment Market - By Equipment (Cardiovascular, Strength Training [Weightlifting, Weights, Barbells & Ladders, Extension Machines, Power Racks]), By End-Use (Home, Health Clubs, Office, Hotel) & Global Forecast, 2023 - 2032

Industry Statistics

Fitness Equipment Market size exceeded USD 15 billion in 2022 and is projected to expand at more than 4% CAGR from 2023 to 2032.
 

Rising incidences of heart disease and obesity will positively influence the industry growth. Unhealthy lifestyles and dietary habits, excessive consumption of low-nutrition foods, alcohol, and smoking tobacco are some of the contributors to cardiovascular diseases, diabetes, and obesity. According to the American Heart Association (AHA) 2022 Heat Disease & Stroke Statistics, 121.5 million individuals in the U.S. suffer from hypertension and 28 million Americans had type 2 diabetes. Growing health concerns have accelerated the adoption of a fitness-oriented lifestyle, offering lucrative scope for weight-loss equipment sales.
 

To get more details on this report: Request Free Sample PDF
 

The availability of second-hand products may impede the purchase of new fitness equipment. Fitness center owners and customers are preferring second-hand products over brand-new equipment due to their cost-effectiveness. This scenario is expected to observe a dynamic change in consumer behavior and large-scale deployment of used gym equipment. However, increasing disposable income and consumer awareness of the latest equipment will fuel the demand for high-end gyming equipment.
 

Technological advancements such as 5G, internet and smartphones have proliferated in recent years, allowing new developments in the fitness equipment landscape. For instance, various health-focused platforms and smartphone apps have been designed to offer precise data regarding workouts to users. Next-generation software systems will enable customer-centric fitness machines with improved features and experience.
 

Availability of a wide variety of strength training equipment for fitness and post-treatment care

To get more details on this report: Request Free Sample PDF
 

Strength training equipment segment held more than 35% share of the fitness equipment market in 2022. A substantial rise in fitness trends among the younger population across developed economies should foster the demand for strength training machines. Extension machines, weights, power racks, and barbells & ladders are widely used to enhance stability, gain strength, and improve overall health.
 

For instance, increasing focus on muscular strength and toning has accelerated the demand for modern weightlifting equipment. Weightlifting machines are also used by the aging population to maintain healthy bones. Extension machines are also recommended as a part of daily exercise for people with back pain or for post-knee-surgery care. They help strengthen the patellar ligament and address any muscular imbalances.
 

Surge in health club memberships to boost the deployment of fitness equipment

Fitness equipment market from the health club end-use segment is anticipated to witness over 3% gains between 2023 and 2032. Increasing awareness regarding the benefits of fitness and healthy lifestyles has resulted in substantial participation in health clubs. These facilities provide a broad spectrum of services and equipment for consumers, allowing them to participate in diversified exercise routines. Health clubs also address health concerns specific to an individual, helping them build a customized fitness regime. Health and wellness clubs are poised to get tremendous traction with enormous numbers of memberships, which will fuel the need for the deployment of modern fitness equipment in these setups.
 

To get more details on this report: Request Free Sample PDF
 

Increasing popularity of fitness apps in India to showcase a positive industry outlook

Asia Pacific fitness equipment market is predicted to record more than 5% growth rate through 2032. Constantly growing populations and rising disposable income in developing economies of APAC will offer lucrative business prospects. Health and fitness continue to be a megatrend in the region with rising interest in regular exercising. Countries such as India, Japan, China, Australia, Taiwan, Vietnam, Singapore, Hong Kong, Indonesia, and Malaysia reported a rise in visits to fitness apps from April 2021 as compared to the previous year. India alone reported a 157% rise in downloads of health and fitness apps. According to a 2022 study conducted by Flipkart, tier 3+ cities in India accounted for 57% of the nation’s demand for fitness equipment, treadmills, and exercise bikes.
 

Strategic partnerships to augment market development

Some of the leading companies in the fitness equipment industry are Core Healthcare & Fitness, Hoist Fitness Systems, Icon Health & Fitness, Inc., Johnson Health Tech, Kettler Sports & Fitness, Life Fitness (KPS Capital Partners, LLC), Nautilus Inc., Peloton Interactive, Inc., Technogym S.p.A, Torque Fitness, and True Fitness. These leaders are focusing on strengthening business performance through collaborations and partnerships.
 

For instance, in August 2021, Nautilus, Inc. announced a partnership with FitON to boost the JRNY member experience. As a part of the endeavor, the industry players will offer a wide range of off-product workouts on the fitness platform.
 

Impact of COVID-19 pandemic on industry trends

The COVID-19 pandemic had a slightly positive impact on the fitness equipment market. The pandemic introduced new norms and regulations such as social distancing and lockdowns to curb the spread of the virus. As a result, people all across the globe were forced to sit at home, which resulted in new trends like at-home fitness. The rising popularity of at-home workouts propelled the demand for fitness equipment during the pandemic. Increasing focus on self-care, fitness, and health helped fitness apps and platforms gain significant traction in the wake of the pandemic.
 

The market research report on fitness equipment includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million and shipments in terms of Thousand Units from 2018 to 2032 for the following segments:

Click here to Buy Section of this Report

Market Insights, By Equipment

• Cardiovascular
  • Elliptical machines
  • Treadmills
  • Exercise bikes (Spinning, stationary, and assault air bikes)
  • Climbers
  • Others
• Strength Training
  • Weight-lifting equipment
  • Weights
  • Barbells and ladders
  • Extension machines
  • Power racks
  • Others
• Others

Market Insights, By Organization Type

• SME
• Government
• Large Enterprises

Market Insights, By End-use

• Home
• Health club
• Office
• Hotels

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
  • Mexico
  • Brazil
  • Argentina
• Middle East & Africa
  • UAE
  • South Africa
  • Saudi Arabia