Fitness Equipment Market Size, Share & Trends Analysis Report By Distribution Channel (Offline, Online), By End-user (Fitness Centers/Gyms, Home Consumers), By Type, By Region, And Segment Forecasts, 2023 - 2030

Fitness Equipment Market Growth & Trends

The global fitness equipment market size is expected to reach USD 24.93 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to grow at a CAGR of 5.3% from 2023 to 2030. Increasing awareness about health and fitness is expected to drive the market growth. The growing obese population across the globe is the key factor for this adoption. The obese population segment drives the usage of cardiovascular equipment for weight management. In the last decade, obesity among adults increased globally, in every country and all population segments. In addition, increasing in-home equipment sales and gym memberships drive the adoption of fitness equipment due to increased health and fitness awareness. People continue to focus on health promotion and disease prevention.

The population is becoming aware of the benefits of physical exercise, such as reduced blood pressure, lowered body mass index, and improved blood cholesterol levels. An increase in the number of fitness service providers and gymnasiums offering various discounts and packages for weight loss and related programs has increased the customer base. Gyms and fitness clubs provide specialized programs like personal training, group classes, and specialized fitness administrations. Fitness clubs invest in various equipment to support these services, including weights, cardio machines, and training tools. Gyms and fitness clubs must often update their gear to attract and maintain members. Introducing newer models or upgrading fitness trends requires investing in the latest equipment.

This ongoing need for equipment upgrades contributes to market growth. The global population is now aware of the different ailments caused by sedentary lifestyles. Key participants in the global market are establishing new spa and fitness club chains. This will likely benefit membership subscriptions, which will eventually support the expansion of the global market over the forecast period. For instance, in October 2021, CieloIT, a managed services provider (MSP) specializing in Cloud IP technology solutions, partnered with Perfect Gym Solutions S.A., a fitness software solutions provider. The partnership aligns with the increasing popularity of hybrid fitness approaches, merging online and in-person interactions.

Fitness Equipment Market Report Highlights

• The cardiovascular training equipment segment led the market in 2022 accounting for over 53% share of the global revenue. These machines provide effective workouts for the lungs, heart, and circulatory system, leading to numerous health benefits
• The home consumers segment led the market in 2022 with a revenue share of over 51% owing to the increased awareness about the importance of regular exercise for overall health, the convenience of working out at home, and advancements in fitness technology
• The offline segment held the largest revenue share of over 56% in 2022. Offline distribution channels allow consumers to see and test the products in person. This tactile experience allows potential buyers to get a better feel for the machines, assess their quality, and make informed decisions based on their preferences and needs
• North America dominated the market in 2022 accounting for over 33% share of the global revenue. The region's growing sedentary lifestyle fuels a need for workout gear
• In addition, the number of gyms and fitness service providers is growing in the region. Different service providers offer packages and discounts for weight loss programs to attract as many customers as possible

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