The Fitness Equipment Market is experiencing a surge in innovations, with the dominating segment being smart fitness equipment. Technological advancements, such as integrated screens, fitness tracking apps, and virtual training experiences, have revolutionized the industry. Smart treadmills, stationary bikes, and connected home gyms are gaining popularity, offering users immersive workouts and data-driven fitness tracking. This innovation caters to the growing demand for convenient and interactive fitness solutions, shaping the market's future with a focus on user engagement and fitness personalization.
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Data Bridge Market Research analyses that the Global Fitness Equipment Market was valued at USD 10,232.29 million in 2022 and is expected to reach the value of USD 17,580.99 million by 2030, at a CAGR of 7.0% during the forecast period of 2023-2030. The COVID-19 pandemic prompted gym closures and safety concerns, driving a significant increase in demand for home fitness equipment as people sought convenient and safe ways to maintain their fitness routines and stay active within the comfort of their homes.
Key Findings of the Study
The aging population is expected to drive the market's growth rate
As the global population ages, there's a growing emphasis on health and mobility. Fitness equipment is increasingly sought after by seniors looking to maintain their physical well-being and independence. Strength training and low-impact exercises, facilitated by fitness equipment, help seniors manage age-related issues such as muscle loss and joint stiffness. This demographic shift has spurred the fitness equipment market, with manufacturers designing user-friendly and senior-friendly options to cater to the unique needs and preferences of older individuals.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Strength Training Equipment, Cardiovascular Training Equipment, Body Composition Analyzers, Fitness Monitoring Equipment, and Others), Application (Weight Loss, Body Building, Physical Fitness, Mental Fitness, and Others), Gender (Male and Female), Buyer Type (Individual, Institution, and Others), Usage (Residential and Commercial), Type (Outdoor and Indoor), End User (Health Clubs/Gyms, Home Consumer, Hotels, Corporates, Hospital, and Medical Centers, Public Institutions and Others), Distribution Channel (Retail Stores, Specialty and Sports Shops, Department and Discount Stores, Online and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Nautilus, Inc. (U.S.), Life Fitness (U.S.), Johnson Health Tech (Taiwan), TECHNOGYM S.p.A (Italy), TRUE (U.S.), Impulse (QingDao) Health Tech CO., LTD (China), iFIT (U.S.), Torque Fitness (U.S.), Body-Solid Inc. (U.S.), Core Health & Fitness, LLC (U.S.), Precor Incorporated (U.S.), Afton (India), Fitness World (India), Shanghai Define Health Tech CO LTD (China), REALLEADER FITNESS CO., LTD (China), Shandong Aoxinde Fitness Equipment Co., Ltd. (China), BFT Fitness (China), Yanre Fitness (China), FITKING FITNESS (India), Fitline India (India)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The global fitness equipment market is segmented into product type, application, gender, buyer type, usage, type, end user, and distribution channel.
- On the basis of product type, the global fitness equipment market is segmented into strength training equipment, cardiovascular training equipment, body composition analyzers, fitness monitoring equipment, and others. In 2023, the strength training equipment segment is poised for dominance in the global fitness equipment market, growing with a CAGR of 8.0% in the forecast period of 2023 to 2030 due to the increasing focus on fitness and muscle development.
In 2023, the strength training equipment segment of the product type segment is expected to dominate the global fitness equipment market during the forecast period of 2023-2030
The strength training equipment segment is poised for dominance in the global fitness equipment market, growing with a CAGR of 8.0% in the forecast period of 2023 to 2030 due to the increasing focus on fitness and muscle development. With rising health consciousness and fitness trends, demand for fitness equipment such as weights, machines, and resistance bands is expected to remain high, making it the leading segment in the fitness equipment market.
- On the basis of application, the global fitness equipment market is segmented into weight loss, body building, physical fitness, mental fitness, and others. In 2023, the weight loss segment is anticipated to have a significant impact on the fitness equipment market due to increasing health and weight-consciousness among consumers. In 2023, the weight loss segment is anticipated to have a significant impact on the fitness equipment market, growing with a CAGR of 8.3% in the forecast period of 2023 to 2030 due to increasing health and weight-consciousness among consumers.
In 2023, the weight loss segment of the application segment is expected to dominate the global fitness equipment market during the forecast period of 2023-2030
In 2023, the weight loss segment is anticipated to have a significant impact on the fitness equipment market, growing with a CAGR of 8.3% in the forecast period of 2023 to 2030 due to increasing health and weight-consciousness among consumers. As people seek effective ways to shed excess pounds and improve overall fitness, demand for fitness equipment catering to weight loss, such as cardio machines and home gyms, is expected to rise, influencing the market's growth.
- On the basis of gender, the global fitness equipment market is segmented into male and female. In 2023, the male segment is projected to dominate the fitness equipment market, growing with a CAGR of 7.2% in the forecast period of 2023 to 2030 driven by higher participation rates in strength training and muscle-building activities. Men typically exhibit a stronger interest in fitness, contributing to their larger presence in this market segment.
- On the basis of buyer type, the global fitness equipment market is segmented into individual, institution, and others. In 2023, the individual segment is set to lead the fitness equipment market, growing with a CAGR of 8.0% in the forecast period of 2023 to 2030 as more people opt for personal fitness solutions. With the rise of home gyms and individual fitness goals, this segment experiences a strong demand for various fitness equipment tailored for single users.
- On the basis of usage, the global fitness equipment market is segmented into residential and commercial. In 2023, the residential segment is poised to dominate the fitness equipment market, growing with a CAGR of 7.0% in the forecast period of 2023 to 2030 due to the growing trend of home-based fitness. As people prioritize convenience and safety, residential fitness equipment such as treadmills, stationary bikes, and home gym setups gain prominence in meeting their exercise needs.
- On the basis of type, the global fitness equipment market is segmented into indoor and outdoor. In 2023, the outdoor segment is anticipated to lead the fitness equipment market growing with a CAGR of 7.1% in the forecast period of 2023 to 2030 as outdoor fitness activities, such as running, cycling, and outdoor calisthenics, gain popularity. Outdoor equipment such as trail running shoes, bicycles, and outdoor workout stations cater to this growing trend of outdoor fitness.
- On the basis of end user, the global fitness equipment market is segmented into health clubs/gyms, home consumer, hotels, corporates, hospital and medical centers, public institutions, and others. In 2023, the health clubs/gyms segment is forecasted to dominate the fitness equipment market, growing with a CAGR of 9.2% in the forecast period of 2023 to 2030 due to its extensive usage by fitness enthusiasts. These establishments offer a wide range of equipment, including cardio machines, weightlifting apparatus, and more, catering to diverse fitness needs and attracting a large customer base.
- On the basis of distribution channel, the global fitness equipment market is segmented into retail stores, specialty and sports shops, department and discount stores, online, and others. In 2023, the retail stores segment is poised to dominate the fitness equipment market, growing with a CAGR of 9.2% in the forecast period of 2023 to 2030 driven by the accessibility and availability of fitness products in brick-and-mortar stores. Retail outlets offer a diverse selection of fitness equipment, making it a popular choice for consumers seeking fitness solutions.
Major Players
Data Bridge Market Research recognizes the following companies as the global fitness equipment market players in global fitness equipment market are Nautilus, Inc. (U.S.), Life Fitness (U.S.), Johnson Health Tech (Taiwan), TECHNOGYM S.p.A (Italy), TRUE (U.S.), Impulse (QingDao) Health Tech CO., LTD (China), iFIT (U.S.), Torque Fitness (U.S.), Body-Solid Inc. (U.S.), Core Health & Fitness, LLC (U.S.).
Market Developments
- In September 2022, Nautilus, Inc., a pioneer in home fitness innovation, unveiled the Bowflex BXT8J treadmill. It comes with compatibility for the JRNY adaptive fitness app and is now available at select online and in-store retail partners. This treadmill provides customers with a comprehensive fitness solution at an affordable cost. Along with high-performance cardio capabilities, users can connect their devices to the JRNY app. This product launch marks an expansion of Nautilus, Inc.'s diverse product portfolio.
- In June 2022, Johnson Health Tech made a significant move by acquiring the fitness division of Cravatex Brands Limited, which had previously served as a distributor for Johnson Health Tech. This strategic acquisition marked a milestone, making Johnson Health Tech the first fitness equipment company to establish a wholly-owned subsidiary in India. By continuously investing in product development and leveraging its manufacturing expertise, Johnson Health Tech has brought notable advancements to the fitness industry, leading to the expansion of its business operations.
- In September 2022, Peloton Interactive, Inc. introduced Peloton Row, an innovative fitness equipment featuring cutting-edge software and premium hardware design. Peloton Row is designed for low-impact, full-body cardio and strength workouts. With its state-of-the-art technology and user-friendly features, it offers users an immersive and effective exercise experience, expanding Peloton's product line to cater to a wider range of fitness enthusiasts looking for high-quality, low-impact workout options.
- In February 2022, The Bridge Lifestyle Hub made a strategic choice by selecting Technogym as its exclusive wellness partner. Technogym, renowned for its excellence in fitness and wellbeing products, services, and digital technology, was chosen for its industry-leading solutions. This partnership signifies The Bridge Lifestyle Hub's commitment to providing top-quality fitness and wellness offerings to its clientele, leveraging Technogym's expertise and cutting-edge solutions.
Regional Analysis
Geographically, the countries covered in the global fitness equipment market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in global fitness equipment market during the forecast period 2023 - 2030
North America's dominance in the fitness equipment market is attributed to its largest consumer market with a high GDP and the presence of key industry players. The United States, in particular, is expected to experience growth driven by the introduction of advanced technology and innovative fitness equipment. These technological advancements cater to the evolving demands of health-conscious consumers, offering smart and efficient fitness solutions, thereby contributing to the region's market leadership and sustained growth.
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