Fitness equipment market size globally was estimated at $11.7 billion in 2019, and is expected to reach $XX.2 billion by 2028, registering a CAGR of 3.6% from 2021 to 2028. Awareness about fitness has created a craze among people all over the world and so, as a result, they now tend to live more on healthy diets or adapt a vegan diet and this trend is flourishing especially among the youth. The health consciousness is now encouraging the mass to join gyms thus staying fit and healthy. There are various fitness equipments that are trending in the market such as treadmill, luxury fitness, cardiac fitness exercises, connected gym, sports and recreational centre, and home gym equipment. Due to the implementation of lockdowns by government, the business for gyms and the sports equipment witnessed major loss. However, market is still thriving to rise due to the fact that people have now gained weight post lockdown, which is encouraging more people to join gyms, go on walks and stay fit and healthy The concept of work from home has promoted the market for fitness equipment to a higher extent, despite the gyms being closed, people have started ordering fitness equipment to practice at home from various online or offline stores.
The major drivers of the fitness equipment market are awareness among people about staying fit and this is driving the market growth rapidly. Also, the majority of people aging with time are more likely to visit physiotherapy centres for their exercises resulting in the growth of the market. However, one of the major restraints of fitness equipment is the high cost of fitness equipments making it difficult for most middle-class families to afford it. Further monthly fee for admission to gyms or clubs is also a challenge for the middle class.
Scope and Segmentation of Fitness Equipment Market
The analysis of fitness equipment market has been done through extensive research on market dynamics, its restraints or challenges, and opportunities. The market is expected to grow in the near future; a detailed study on the fitness equipment market has been presented in this report. It includes accurate data representation of market growth, profit, and the key players of this market. The market is segmented by equipment type, by application, by end-users, by distribution channel, and by region. By equipment type market can be divided into cardiovascular training equipment, weight Training Equipment, and other product Types. By application can be further segmented into stationary bicycles, treadmills, elliptical machines, cross-country ski simulators, weight lifting machines, bars & weights, stair climbers, racks, rowing machines, and others. By end-users, the fitness equipment market can be further categorized into homes, health and fitness clubs, gyms and others. By distribution channel, the market can be classified into online stores, offline stores, and direct selling. And, offline stores can be further divided into hypermarkets, Speciality. Stores/ sports chain outlets, multi-brand stores, discount stores, independent departmental stores, and sports stores. Further, by geography, the fitness equipment market has been bifurcated into North America, Europe, Asia Pacific, and Rest of the World.
Key Players of Fitness Equipment Market
The most prominent players of fitness equipment market are Brunswick Corporation, ICON Health & Fitness, Inc., Nautilus, Inc., Cybex International, TRUE Fitness Technology, Precor Incorporated Inc., Technogym S.p.A., Core Health and Fitness, LLC, Johnson Health Tech Co., Ltd., Amer Sports Corporation, SportsArt Fitness, Inc., Torque Fitness, LLC, Vectra Fitness, Woodway USA, Inc., NordicTrack, Fitness World, HOIST Fitness Systems and Fitness Equipment Market Trends.
Scope and Market Segmentation of Global Fitness Equipment Market:
By Equipment Type, 2019 – 2028
By Application, 2019 – 2028
By End Users, 2019 – 2028
By Distribution Channel, 2019 – 2028
By Region, 2019 – 2028