Fitness Equipment Market by Product (Cardiovascular Training Equipment, Strength Training Equipment), Distribution (Offline Retail Store, Online Retail Store), End-user - Global Forecast 2024-2030

Fitness Equipment Market by Product (Cardiovascular Training Equipment, Strength Training Equipment), Distribution (Offline Retail Store, Online Retail Store), End-user - Global Forecast 2024-2030

The Fitness Equipment Market size was estimated at USD 17.01 billion in 2023 and expected to reach USD 17.97 billion in 2024, at a CAGR 5.75% to reach USD 25.17 billion by 2030.

Fitness equipment refers to a wide range of devices and accessories designed to facilitate regular physical activity and help individuals achieve their fitness goals. These goals include improving cardiovascular endurance, enhancing muscular strength and flexibility, promoting weight loss, or rehabilitating injuries. Fitness equipment can be broadly categorized into two main types: cardiovascular equipment and resistance equipment. As the global population becomes more conscious about health and wellness, there has been a noticeable increase in gyms and fitness clubs, leading to an increased demand for advanced fitness equipment. Furthermore, chronic diseases are on a steady rise globally. As a result, more people are seeking ways to maintain a healthier lifestyle by incorporating regular exercise into their routines. However, the high cost associated with the fitness equipment and the availability of counterfeit products is hampering the market growth. To overcome these issues, companies are investing in research and development. The demand for home fitness equipment has surged due to busy lifestyles, increasing disposable incomes, and the desire for convenience. Moreover, companies are integrating technology into modern-day fitness equipment, revolutionizing the industry.

Regional Insights

In the Americas region, specifically in the United States and Canada, there is a high demand for fitness equipment due to increasing health awareness among consumers and a rising number of sports clubs and gyms. Technological advancements such as connected devices and digital platforms integrated with fitness equipment are driving consumers' interest in customized workout experiences. In Europe, countries including Germany, France, Italy, Spain, and the UK dominate the fitness equipment market. The European market reflects growing awareness about health benefits associated with regular exercise. In the EMEA region, the Middle East & Africa markets are witnessing increased demand for premium quality fitness equipment due to rising disposable incomes in some countries, including UAE and Saudi Arabia. In the Asia-Pacific region, China is expected to dominate the fitness equipment market due to rapid urbanization, leading to higher disposable incomes and increased investments in gym facilities by local governments. Japan's aging population has resulted in an increased focus on healthcare-related initiatives that include an emphasis on physical exercise, hence boosting sales of home-based fitness equipment. In India, millennials' rapidly changing lifestyles and rising health consciousness are driving the demand for fitness equipment in gyms, health clubs, and homes.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Fitness Equipment Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Rising awareness for fitness and surge in number of gyms and fitness clubs
Growing prevalence of obesity and chronic diseases globally
Increasing government initiatives to promote health and fitness among the population

Market Restraints

High cost associated with the fitness equipment

Market Opportunities

Integration of smart devices with advanced features in fitness machines
Increasing popularity of home fitness equipments

Market Challenges

Availability of counterfeit products

Market Segmentation Analysis

Product: Increasing utilization of strength training equipment for muscle building
Distribution: Growing preference for online retail stores with consumers seeking convenience
End-User: Expanding the application of fitness equipment in fitness centers and gyms

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Fitness Equipment Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Fitness Equipment Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Chris Hemsworth’s Centr Introduces All-New Line of Strength Equipment and Fitness Accessories

Centr has recently introduced 27 new products for fitness equipment. These products, including Fitness Kits and Strength Training Equipment, are now available online and in 3,000 Walmart stores. These physical products are designed with a sleek and modern aesthetic, perfectly complementing the digital membership tools offered by Centr.

We’re investing in £175k worth of new gym equipment!

Luton Sports Village gym has invested £175,000 in new cardio equipment to enhance customers' experience and motivation. Moreover, the gym now offers more popular equipment and has introduced a revised functional area that includes the Hammer Strength HD Tread curved treadmill and Air Bike.

TRX ANNOUNCES ACQUISITION OF YBELL FITNESS

TRX has recently acquired YBell to offer customers a high-utility experience with minimal frills. With the integration of YBell into TRX's ecosystem, consumers, personal trainers, and gym owners access a comprehensive range of functional training equipment and related education. This strategic move solidifies TRX's commitment to providing top-notch fitness equipment and education to its valued clientele.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Fitness Equipment Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Fitness Equipment Market, highlighting leading vendors and their innovative profiles. These include Amer Sports Corporation, Body-Solid, Inc., Core Health & Fitness, LLC, Decathlon S.A., Dyaco International Inc., Echelon Fit US, HAMMER SPORT AG, Horizon Fitness, iFIT Inc. by Amynta Group, Impulse (QingDao) Health Tech Co., Ltd., Jerai Fitness Pvt. Ltd., Johnson Health Tech Co., Ltd., Life Fitness, Nautilus, Inc., Nityasach Fitness Pvt. Ltd., Nortus Fitness, Precor Incorporated, Rogue Fitness, Shandong EM Health Industry Group Co., Ltd., Technogym S.p.a, Torque Fitness, True Fitness Technology, Inc., TRX, Tuff Tread, and Yanre Fitness.

Market Segmentation & Coverage

This research report categorizes the Fitness Equipment Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
Cardiovascular Training Equipment
Stationary Cycles
Treadmills
Strength Training Equipment
Distribution
Offline Retail Store
Online Retail Store
End-user
Fitness Centers & Gyms
Home Consumers
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year