Market Size of Strength Training Equipment
| Study Period | 2024 - 2029 |
| Market Size (2024) | USD 13.40 Billion |
| Market Size (2029) | USD 17.01 Billion |
| CAGR (2024 - 2029) | 4.79 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Strength Training Equipment Market Analysis
The Strength Training Equipment Market size is estimated at USD 13.40 billion in 2024, and is expected to reach USD 17.01 billion by 2029, growing at a CAGR of 4.79% during the forecast period (2024-2029).
There is a growing awareness of and emphasis on the importance of regular physical activity and strength training for overall health, wellness, and longevity. Consumers are increasingly prioritizing fitness and investing in gym equipment to maintain a healthy lifestyle. Precautionary healthcare, coupled with an increasing preference for customized workout regimes (including workout timing) and comfortable home-friendly environments, is increasing the demand for strength training equipment as customers are eager to exercise daily to maintain lean and strong muscle health. Moreover, overweight and obese are associated with several chronic illnesses, such as diabetes, obesity, heart disease, and several forms of Joint issues. Consumers are realizing the significance of taking preventative measures, including engaging in regular physical activity, to lower their chances of getting specific illnesses. For example, according to the World Health Organization, in 2022, 2.5 billion adults (18 years and older) were overweight. Of these, 890 million were living with obesity, and 1 in 8 people in the world were living with obesity.
Additionally, growing government initiative programs related to health awareness is another factor propelling the market’s growth. These programs seek to protect and promote health by helping people lower the number of illnesses and fatalities linked to poor diet and inactivity at the local, national, and international levels, encouraging people to engage in fitness activities. For instance, in August 2023, the Government of the United Kingdom established a New Sports Strategy with former sports stars, health professionals, and fitness experts to help an additional 3.5 million adults and children get physically active by 2030. Thus, government initiatives all over the world toward a healthy and fit lifestyle can shape the market during the forecast period.
Strength Training Equipment Industry Segmentation
Strength training equipment refers to the equipment used for developing stronger, leaner, and healthier muscles. The market is segmented based on product type, ingredient type, distribution channel, and geography. Based on product type, the market is segmented into weight, racks and benches, exercise and medicine balls, other product types), Based on End-user the market is segmented into residential and commercial. Based on distribution channels, the market is segmented into offline retail stores and online retail stores. The study also captures the market across various economies, including North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The market sizing has been done in value terms in USD for all the abovementioned segments.
Strength Training Equipment Size Summary
The strength training equipment market is experiencing significant growth, driven by an increasing awareness of the importance of physical fitness and wellness. Consumers are prioritizing health and investing in gym equipment to support a healthy lifestyle, with a particular focus on strength training to combat chronic illnesses associated with obesity and inactivity. Government initiatives worldwide are further propelling market growth by promoting health awareness and encouraging physical activity. These programs aim to reduce the prevalence of diet-related illnesses and fatalities, thereby fostering a culture of fitness. The rising popularity of strength training and functional fitness, which emphasizes real-life movements and exercises, is also contributing to the market's expansion. Consumers are recognizing the benefits of resistance training, such as improved bone density and muscle strength, which are easily achievable with compact and space-saving equipment like dumbbells and kettlebells.
In the Asia-Pacific region, countries such as China, India, and Southeast Asian nations are witnessing a surge in consumer interest in health and fitness, supported by increased household spending on fitness-related products. Social media influencers have played a crucial role in shaping a fitness culture, further driving demand for strength training equipment. The market is competitive, with major players like Life Fitness, Technogym SpA, and Bowflex, Inc. actively engaging in product innovations and strategic partnerships to enhance their offerings. These companies are leveraging advancements in technology to provide high-end strength training solutions, catering to the evolving needs of consumers. As awareness and appreciation for strength training continue to grow, the demand for such equipment is expected to remain robust, with new entrants like Nike expanding their presence in the market.
Strength Training Equipment Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Growing Influence of Healthy Lifestyles
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1.1.2 Social Media Revolutionizing the Fitness Industry
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1.2 Market Restraints
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1.2.1 Space Limitation and High Cost Associated with Heavy Equipment
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1.3 Porter's Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Weights
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2.1.2 Racks and Benches
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2.1.3 Exercise and Medicine Balls
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2.1.4 Other Product Types
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2.2 By End User
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2.2.1 Residential
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2.2.2 Commercial
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2.3 By Distribution Channel
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2.3.1 Online Retail Stores
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2.3.2 Offline retail Stores
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2.4 By Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Rest of North America
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2.4.2 Europe
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2.4.2.1 United Kingdom
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2.4.2.2 Germany
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2.4.2.3 Spain
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2.4.2.4 France
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2.4.2.5 Italy
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2.4.2.6 Austria
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2.4.2.7 Switzerland
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2.4.2.8 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 South Korea
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2.4.3.4 Australia
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 Rest of the World
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2.4.4.1 South America
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2.4.4.2 Middle East & Africa
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Strength Training Equipment Market Size FAQs
How big is the Strength Training Equipment Market?
The Strength Training Equipment Market size is expected to reach USD 13.40 billion in 2024 and grow at a CAGR of 4.79% to reach USD 17.01 billion by 2029.
What is the current Strength Training Equipment Market size?
In 2024, the Strength Training Equipment Market size is expected to reach USD 13.40 billion.
