Global Fitness Equipment Market Report and Forecast 2024-2032

Global Fitness Equipment Market Outlook

The global fitness equipment market size reached nearly USD 12.58 billion in 2023. The market is projected to grow at a CAGR of 4% between 2024 and 2032 to reach a value of around USD 17.90 billion by 2032.

Key Trends in the Market

Fitness equipment or exercise equipment refers to equipment which is used for exercising. Fitness equipment is widely used by athletes and fitness enthusiasts to improve the strength and increase the stability and balance of the body.

• The increasing inclination towards health and wellness and the rising focus on weight management is leading to a heightened demand for fitness equipment.

• Various research activities have indicated the benefits of physical activities for improving mental health and increasing levels of serotonin, dopamine, and norepinephrine in the brain. Hence, growing incidences of mental health issues such as anxiety, ADHD, and depression, among others, are likely to boost the inclination towards fitness, supporting the fitness equipment market demand in the coming years.

• Advancements in fitness technologies are likely to drive the development of fitness equipment that can track exercises and movements, offer recommendations, and provide training programmes. Moreover, rising demand for smart wearables that can collect and provide information about heart rate, water intake, and blood pressure, among others, is one of the crucial fitness equipment market trends.

• The thriving e-commerce sector is boosting the accessibility to diverse fitness equipment at attractive discounts, further fuelling sales of fitness equipment such as dumbbells, indoor cycles, yoga mats, and ab rollers, among others.

Market Analysis

Based on end-user, the market is segmented into health clubs/gyms, hospitality and leisure, corporates, educational institutes, home consumer/residential, and outdoor parks and public places. On the basis of price point, the fitness equipment market segmentations include premium/luxury and mass, among others. The major regional markets for fitness equipment include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global fitness equipment market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Core Health & Fitness, LLC

• iFIT Inc.

• Impulse (QingDao) Health Tech CO., LTD

• Johnson Health Tech. Co., Ltd.

• Nautilus, Inc.

• Peloton Interactive, Inc.

• TECHNOGYM S.p.A

• Torque Fitness

• TRUE Fitness Technology, Inc.

• The Treadmill Factory

• Others

Market Share by End-User

The home consumer/residential sector accounts for a significant portion of the fitness equipment market share. At-home fitness has gained substantial popularity since the COVID-19 pandemic due to its greater convenience, better privacy, and enhanced hygiene.

Additionally, the growing awareness regarding the benefits of exercising, the influx of virtual online sessions, and the growing popularity of on-demand workouts are likely to bolster the usage of fitness equipment in the residential sector.

Market Share by Region

As per the fitness equipment market analysis, the Asia Pacific registered a healthy growth due to the increased focus on holistic wellbeing in the region. The growing popularity of different physical activities like Zumba, HIIT, Pilates, and yoga, among others, are boosting the requirement for specialised fitness equipment.

The rapid development of gyms across several parts of the region is also driving sales of fitness equipment. Besides, the robust growth of the tourism sector and the increasing number of tourists seeking to stay fit during vacations are expected to further bolster the fitness equipment market growth in the region in the coming years.

Competitive Landscape

Core Health & Fitness, LLC is a fitness equipment company that manufactures and sells innovative fitness solutions related to cardio, cycling, strength, indoor workout, impacts sports, and various exercises.

iFIT Inc. is a leading health and fitness technology company which offers health and fitness platforms and different types of equipment. The company also provides hardware and software services that can support various fitness modalities.

Impulse (QingDao) Health Tech CO., LTD is a renowned fitness equipment company which is committed to developing and providing competitive fitness products, services, and sales support. The product portfolio of the company includes treadmills, upright bikes, and elliptical machines, among others.

Other fitness equipment market players include Johnson Health Tech. Co., Ltd., Nautilus, Inc., Peloton Interactive, Inc., TECHNOGYM S.p.A, Torque Fitness, TRUE Fitness Technology, Inc., and The Treadmill Factory, among others.

Key Highlights of the Report