fitness equipment market
Fitness equipment market outlook
According to a report by Expert Market Research (EMR), the global fitness equipment market size was nearly $12.58 billion in 2023. Due to increasing awareness and emphasis on health and wellness, the market is expected to grow at a CAGR of 4% to reach nearly USD 17.9 billion from 2024 to 2032.
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The global fitness equipment market includes a wide range of products designed to aid physical exercise and enhance overall fitness and health. The variety of equipment varies and includes cardio machines such as treadmills and stationary bikes, strength training equipment such as weight machines and free weights, and various gear used in yoga and Pilates. Fitness equipment is essential to both commercial establishments, such as gyms and health clubs, and personal home gyms, helping individuals maintain or improve their stamina, strength, and flexibility.
A key trend in the fitness equipment market is increasing awareness and emphasis on health and wellness. As people become more aware of the importance of staying healthy, there is a growing demand for accessible and convenient fitness solutions. This health trend is further driven by the rising prevalence of obesity and related diseases such as diabetes and heart disease, which encourages individuals to adopt a healthier lifestyle.
Technology integration is another key trend driving the growth of the global fitness equipment market. Today’s modern fitness equipment often includes digital components such as touchscreens, connectivity to apps, and data tracking to monitor everything from calories burned to heart rate to overall progress. I am. This technology integration addresses the needs of tech-savvy people who value detailed feedback about their workout sessions. Additionally, the advent of smart fitness equipment that is compatible with a variety of fitness apps allows for a more interactive and personalized workout experience, increasing user engagement.
The COVID-19 pandemic has had a major impact on the expansion of the fitness equipment market, dramatically accelerating the trend towards home gyms. Lockdowns and social distancing measures have temporarily closed public and commercial fitness centers and encouraged fitness enthusiasts to set up their own workout spaces at home. This change has increased the demand for home fitness equipment and has also spurred innovation in compact, multifunctional equipment that easily fits into limited spaces. Even as restrictions ease, home fitness routine preferences continue to influence market trends.
In the context of the fitness equipment market, sustainability is increasingly becoming a focus in equipment manufacturing and design. Consumers and businesses are becoming more environmentally conscious, which is putting pressure on manufacturers to adopt eco-friendly practices. This includes the use of recycled and sustainable materials in the manufacture of equipment and efforts to improve the energy efficiency of electronic products. The market is responding with more sustainable product lines and practices that align with global environmental goals and consumer expectations.
The global fitness equipment market value is increasing due to the shift towards customization and personalization. Today’s equipment often includes adjustments that allow it to be tailored to suit individual needs for different body types, fitness levels, and specific health goals. This trend is especially evident in strength training equipment, where ergonomic designs that adapt to the user’s form can significantly improve effectiveness and reduce the risk of injury.
Another notable fitness equipment market trend is the proliferation of connected fitness equipment. These are devices that offer online classes and virtual coaching sessions, making it easier for users to receive professional guidance. Brands like Peloton are leading the way in this space, offering bikes and treadmills with live streaming and on-demand classes from experienced instructors. This trend extends beyond individual products and extends across the connected fitness ecosystem, fostering a community aspect to motivating workouts.
However, the demand for the fitness equipment market may be affected by challenges such as the high cost of advanced fitness equipment, which can pose a barrier to entry for individuals and small fitness facilities. Additionally, the competitive nature of the market forces companies to continually innovate, requiring significant investment in research and development to remain relevant.
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Fitness equipment market segmentation
The global fitness equipment market can be segmented on the basis of end user, price range, and region.
Market breakdown by end user
Fitness club/gym
hospitality and leisure
Corporation
educational institution
Home Consumer/Residential
outdoor parks and public places
Market breakdown by price range
Premium/Luxury
mass
Market breakdown by region
North America
Europe
Asia Pacific
latin america
middle east and africa
competitive environment
The EMR report studies market share, production capacity, investments, mergers and acquisitions, and other key trends of leading companies operating in the global Fitness Equipment market. Some of the major companies studied in the Expert Market Research report are:
Core Health & Fitness LLC
iFit Co., Ltd.
Impulse (Qingdao) Health Tech Co., Ltd.
Johnson Health Tech. Co., Ltd.
Nautilus Co., Ltd.
peloton interactive
technogym spa
torque fitness
True Fitness Technology Co., Ltd.
treadmill factory
others
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