Fitness Equipment Market Size
| Study Period | 2019-2029 |
| Market Size (2024) | USD 34.92 Billion |
| Market Size (2029) | USD 44.02 Billion |
| CAGR (2024 - 2029) | 4.74 % |
| Fastest Growing Market | South America |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
Fitness Equipment Market Analysis
The Fitness Equipment Market size is estimated at USD 34.92 billion in 2024, and is expected to reach USD 44.02 billion by 2029, growing at a CAGR of 4.74% during the forecast period (2024-2029).
- Diabetes, obesity, high blood pressure, and arthritis are some common chronic diseases that are prevailing in the world due to lifestyle changes, changes in food habits, and overconsumption of high-calorie foods. Due to the prevalence of these diseases, people have become more conscious of their health and fitness. Premature weakness in bones and muscles is a problem in the young generation due to the frequent consumption of fast food and alcoholic beverages.
- Because of their awareness of such issues, going to fitness centers and working out has become a trend. The growing preference for a healthy and fit lifestyle drives the fitness equipment market growth. There is also a surge in fitness centers and health clubs worldwide, further propelling the market growth.
- Growing government initiatives related to health awareness are also propelling market growth. These initiatives aim to promote and protect health by guiding at the individual, national, and global levels in reducing disease and death rates related to unhealthy diets and physical inactivity, boosting consumers’ interest in fitness activities.
- Due to advanced technology, market players are venturing on partnerships to launch new products with advance technologies. For instance, in April 2021, Matrix, a Johnson Health Tech Co. brand, partnered with iFIT, a global leader in interactive connected fitness technology and content. This partnership aims to incorporate iFit's digital technology into Matrix's products.
Fitness Equipment Market Trends
Inclination Toward a Healthy Lifestyle
- The rising prevalence of lifestyle diseases, such as diabetes, obesity, hypertension, and high blood pressure, due to unhealthy dietary patterns and physical inactivity encourages the participation of individuals in fitness regimes. According to StatCan, in 2021, around 29% of adults in Canada aged 18 years and older were obese, while 36% were overweight. Thus, people are inclined toward a healthy lifestyle, driving the fitness equipment market.
- Besides this, government initiatives to promote participation in physical activities and strengthen links between the community and various sports and fitness organizations are propelling the market growth. Moreover, market players are introducing connected fitness equipment.
- For instance, in September 2022, Nautilus Inc. launched the Bowflex BXT8J treadmill with the JRNY adaptive fitness app. The treadmill can pair with a mobile device or tablet to provide access to the fitness app.
Europe is the Largest Market for Fitness Equipment
- Fitness equipment in the United Kingdom reflects a diverse and growing market driven by a heightened awareness of health and wellness. Traditional gym equipment like treadmills, stationary bikes, and weightlifting machines remains popular. Still, home fitness equipment has a rising trend, including smart exercise machines, connected fitness apps, and compact workout gear.
- With a well-established gym culture and a focus on physical fitness, Germany has a wide array of fitness facilities and a strong demand for professional training services. For instance, in 2022, according to EuropeActive, the European Health and Fitness Association (EHFA), the number of fitness club members in Germany was 10.3 million.
- Increased awareness of the benefits of regular exercise for overall health and well-being has encouraged individuals to prioritize physical activity in Spain. For instance, according to a survey by the Ministry of Education, Culture and Sport, nearly 27% of men and 20.7% of women exercised daily in Spain in 2022.
- Governments in different countries of Europe promote healthy lifestyles through public health initiatives and campaigns. This includes encouraging physical fitness and exercise to combat obesity and related health issues. As a result, there is an increasing awareness of the importance of fitness, which drives the demand for fitness equipment in commercial fitness facilities and for personal use.
Fitness Equipment Industry Overview
The fitness equipment market is fragmented, with global and regional players dominating the market. The prominent market players are Nautilus Inc., Johnson Health Tech Co., Peloton Interactive, Inc., Icon Health & Fitness, Inc., and Life Fitness. Because of the increasing trend of fitness and sports, the demand for fitness equipment is increasing worldwide. Mergers and acquisitions between companies are driving innovation and market penetration.
For instance, in April 2021, Peloton acquired Precor, one of the leading global commercial fitness equipment manufacturers with a significant United States manufacturing presence. With this acquisition, Peloton expands its manufacturing capabilities in the United States, anticipates collaborating with Precor's team to strengthen its research and development capabilities, and accelerates its commercial market penetration.
Fitness Equipment Market Leaders
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Nautilus Inc.
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Johnson Health Tech Co.
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Peloton Interactive, Inc.
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Icon Health & Fitness Inc.
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Life Fitness
*Disclaimer: Major Players sorted in no particular order
Fitness Equipment Market News
- April 2023: Life Fitness partnered with Bayerwaldhof, a wellness hotel, to furnish its new fitness room with premium fitness equipment, ensuring a top-notch wellness experience for guests.
- September 2022: Peloton Interactive, Inc. unveiled Peloton Row, an innovative fitness equipment featuring cutting-edge software and a premium hardware design tailored for low-impact, full-body cardio and strength workouts.
- August 2021: Johnson Health Tech (JHT) acquired Matrix Fitness South Africa, formerly a distributor, thereby establishing JHT as the inaugural fitness equipment manufacturer with a wholly-owned subsidiary in Africa.
Fitness Equipment Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Adoption of Healthy Lifestyle
4.1.2 Integration of Technology In Fitness Equipment
4.2 Market Restraints
4.2.1 Alternative Fitness Solutions Pose a Threat
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Treadmills
5.1.2 Elliptical Machines
5.1.3 Stationary Cycles
5.1.4 Rowing Machines
5.1.5 Strength Training Equipment
5.1.6 Other Product Types
5.2 Category
5.2.1 Residential
5.2.2 Commercial
5.3 Distribution Channel
5.3.1 Offline Retail Stores
5.3.2 Online Retail Stores
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Spain
5.4.2.2 United Kingdom
5.4.2.3 Germany
5.4.2.4 France
5.4.2.5 Italy
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 South Africa
5.4.5.2 United Arab Emirates
5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Technogym SpA
6.3.2 Nautilus Inc.
6.3.3 Johnson Health Tech Co.
6.3.4 Body-Solid Inc.
6.3.5 Jerai Fitness Pvt. Ltd.
6.3.6 Total Gym
6.3.7 Life Fitness
6.3.8 Waterrower NOHRD Gmbh
6.3.9 IFIT Inc.
6.3.10 Powertec
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Fitness Equipment Industry Segmentation
Fitness equipment is used during physical activity to enhance the strength of the body while exercising. The equipment is designed so that it can be controlled manually according to the requirements and strength of the user.
The fitness equipment market is segmented by product type, category, distribution channel, and geography. By product type, the market is segmented into treadmills, elliptical machines, stationary cycles, rowing machines, strength training equipment, and other product types. By category, the market is segmented into residential and commercial. By distribution channel, the market is segmented into offline and online retail stores. The market is segmented by geography into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
For each segment, the market sizing and forecast have been done on the basis of value (in USD).
| Product Type | |
| Treadmills | |
| Elliptical Machines | |
| Stationary Cycles | |
| Rowing Machines | |
| Strength Training Equipment | |
| Other Product Types |
| Category | |
| Residential | |
| Commercial |
| Distribution Channel | |
| Offline Retail Stores | |
| Online Retail Stores |
| Geography | ||||||||
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Fitness Equipment Market Research Faqs
How big is the Fitness Equipment Market?
The Fitness Equipment Market size is expected to reach USD 34.92 billion in 2024 and grow at a CAGR of 4.74% to reach USD 44.02 billion by 2029.
What is the current Fitness Equipment Market size?
In 2024, the Fitness Equipment Market size is expected to reach USD 34.92 billion.
Who are the key players in Fitness Equipment Market?
Nautilus Inc., Johnson Health Tech Co., Peloton Interactive, Inc., Icon Health & Fitness Inc. and Life Fitness are the major companies operating in the Fitness Equipment Market.
Which is the fastest growing region in Fitness Equipment Market?
South America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Fitness Equipment Market?
In 2024, the Europe accounts for the largest market share in Fitness Equipment Market.
What years does this Fitness Equipment Market cover, and what was the market size in 2023?
In 2023, the Fitness Equipment Market size was estimated at USD 33.26 billion. The report covers the Fitness Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Fitness Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the emerging technologies shaping the Fitness Equipment Industry?
The emerging technologies shaping the Fitness Equipment Industry are a) Virtual reality workouts b) AI-powered training c) Biofeedback integration for personalized fitness
Fitness Equipment Industry Report
The Global Fitness Equipment Market Report is segmented by product type, category, distribution channel, and geography. The report offers market size and values during the forecasted years for these segments. The global fitness equipment market is witnessing robust growth, fueled by increased health consciousness and the prevalence of lifestyle diseases like obesity and diabetes. This surge is supported by the rise in health clubs, gyms, and government health awareness initiatives.
With cardiovascular training equipment and the home consumer segment leading the market due to the popularity of home gyms, the industry sees a preference for affordable, quality equipment within the mass and mid-price segments. The shift towards smart and connected equipment highlights the market's dynamic nature, shaped by consumer preferences for health and wellness and the integration of technology. North America and Asia-Pacific are key players, with the latter expected to see rapid expansion driven by higher disposable incomes and urbanization.
The market statistics underscore the industry's trajectory, underscoring its growth potential and the evolving consumer landscape's impact on demand and innovation within the fitness equipment sector. Industry statistics and market size play crucial roles in understanding the market's dynamics. The industry overview and market report provide insights into industry trends and market research.
Industry analysis and industry reports highlight the market's growth rate and industry outlook. The industry information and industry research offer comprehensive insights into industry sales and industry size. The market data and market forecast present a detailed view of market growth and market outlook. Market segmentation and market value are essential aspects covered in the report.
The report also includes a report example and a report PDF for further reference. Research companies contribute to the detailed market review and market predictions. Understanding the market leaders and market overview is crucial for grasping the market's competitive landscape. The industry trends and market predictions help in anticipating future developments in the fitness equipment market.
Fitness Equipment Market Report Snapshots
