Fitness Equipment Industry Overview
Study Period: Fastest Growing Market:Asia-PacificLargest Market:North AmericaCAGR:5.eight %Major Players
*Disclaimer: Major Players sorted in no specific order
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Customize This ReportThe fitness equipment market is projected to register a CAGR of 5.8% over the forecast interval.
Diabetes, obesity, hypertension, and arthritis are some frequent chronic ailments which are prevailing in the world due to changes in lifestyle, changes in meals habits, and overconsumption of high-calorie foods. Due to the prevalence of those ailments, folks have turn into more aware of their health and fitness. Premature weak spot in bones and muscular tissues is an issue within the younger era due to the frequent consumption of fast food and alcoholic drinks. Because of their awareness of such problems, going to fitness facilities and working out has turn into a development. The growing choice for a wholesome and fit life-style is the primary issue driving the fitness equipment market’s development. There can additionally be a surge within the variety of fitness centers and health clubs worldwide, additional propelling the market’s progress. According to IHRSA, in 2022, there will be round 31,000 health golf equipment within the United States.
Growing government initiatives related to health consciousness are also propelling the market’s growth. These initiatives goal to promote and protect health by guiding on the particular person, national, and world levels in reducing illness and demise charges associated to unhealthy diets and physical inactivity, which, in flip, boosts consumers’ interest in fitness actions. Investments in at-home fitness equipment are increasing as folks want to continue their old coaching and gym workout regimes at home. Due to superior technology, the market gamers are becoming a member of forces to launch new merchandise with developed applied sciences in them. For instance, in April 2021, Matrix, a Johnson Health Tech Co. brand, fashioned a partnership with iFIT, a global chief in interactive related fitness technology and content material. The objective of this partnership is to include iFit’s digital technology into Matrix’s merchandise.
Fitness Equipment Industry Segments
Fitness equipment is used during bodily activity to enhance the strength of the body while exercising. The equipment is designed in such a way that it can be managed manually according to the requirements and strength of the consumer. The fitness equipment market is segmented by product type, end-user, distribution channel, and geography. By product kind, the market is segmented into treadmills, elliptical machines, stationary machines, rowing machines, energy coaching equipment, and different product types. By end user, the market is segmented into residential users and business users. By distribution channel, the market is segmented into offline retail shops and on-line retail shops. The market is segmented by geography into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. For each phase, the market sizing and forecast have been accomplished on the basis of value (in USD million).
Product Type Treadmills Elliptical Machines Stationary Cycles Rowing Machines Strength Training Equipment Other Product Types End User Residential Commercial Distribution Channel Offline Retail Stores Online Retail Stores Geography North America United States Canada Mexico Rest of North America Europe Spain United Kingdom Germany France Italy Russia Rest of Europe Asia-Pacific China Japan India Australia Rest of Asia-Pacific South America Brazil Argentina Rest of South America Middle-East and Africa South Africa Saudi Arabia Rest of Middle-East and Africa Report scope may be customized per your requirements. Click here.
Fitness Equipment Market Trends
Consumers’ Inclination Toward a Healthy Lifestyle
Diabetes, weight problems, hypertension, and high blood pressure are all on the rise around the globe. This is as a result of of an unhealthy diet and physical inactivity. According to StatCan, in 2021, around 29% of adults in Canada aged 18 years and older shall be obese, whereas 36% shall be overweight. Thus, persons are inclined toward gyms and health golf equipment or exercising at home. A growing desire for a healthy way of life is driving the fitness equipment market. Moreover, growing government initiatives in varied international locations to advertise a wholesome way of life have performed a key function in driving the market in the last few years. Furthermore, the government encourages extra individuals to get more active by selling participation in physical activities and strengthening links between the community and various sports and fitness organizations. Due to advanced technology and innovation, the market players are introducing new fitness equipment into the market. For instance, in September 2022, Nautilus Inc. launched the Bowflex BXT8J treadmill with the JRNY adaptive fitness app. The treadmill can pair with a cellular gadget or tablet to supply access to the fitness app.
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Asia-Pacific to Witness Strong Growth in the Fitness Equipment Market
Asia-Pacific is the fastest-growing area within the total fitness equipment market. China, Japan, Australia, India, and South Korea are some of the prime contributing international locations in the area. One of the major elements driving the area’s development is an increased inclination towards private coaching and instruction providers. The Asia-Pacific region has more younger and older populations. According to World Bank data from 2021, India has 67.45% of its population between the ages of 15 and 64. Due to environmental situations, fast food consuming habits, and overconsumption of alcohol and other high-calorie drinks, the adults within the area are becoming extra obese and chubby. The demand for private trainers and fitness instructors has grown due to the rise in weight-loss services and high curiosity in customized workout schedules. As child boomers actively focus on health, there is a growing demand for trainers with specialized knowledge of secure and efficient fitness exercises for senior citizens. Therefore, various global players are increasing their presence in Asia-Pacific to broaden their customer base and acquire an edge over their opponents. In June 2022, Johnson Health Tech (JHT) shaped an acquisition agreement with the fitness division of Cravatex Brands Limited. JHT grew to become the first company to have a wholly-owned subsidiary in India.
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Fitness Equipment Market Competitor Analysis
The fitness equipment market is fragmented, with world and regional gamers dominating the market. The distinguished market players are Nautilus Inc., Johnson Health Tech Co., Peloton Interactive, Inc., Icon Health & Fitness, Inc., and Anta International Group Holdings Ltd. (Amer Sports). Because of the rising trend of fitness and sports, the demand for fitness equipment is increasing around the world. Mergers and acquisitions between corporations are driving market development as innovation and market penetration of the businesses are rising. For occasion, in April 2021, Peloton acquired Precor, one of many leading global producers of commercial fitness equipment with a significant United States manufacturing presence. With this acquisition, Peloton expands its manufacturing capabilities within the United States, anticipates collaborating with Precor’s group to strengthen its research and development capabilities, and accelerates its business market penetration.
Fitness Equipment Market Top Players
1. Nautilus Inc.
2. Johnson Health Tech Co.
three. Peloton Interactive, Inc.
4. Icon Health & Fitness Inc.
5. Anta International Group Holdings Ltd. (Amer Sports)
*Disclaimer: Major Players sorted in no particular order
Fitness Equipment Market Report – Table of Contents
1. 1. INTRODUCTION . 1.1 Study Assumptions and Market Definition . 1.2 Scope of the Study
2. 2. RESEARCH METHODOLOGY
3. three. EXECUTIVE SUMMARY
four. four. MARKET DYNAMICS . four.1 Market Drivers . four.2 Market Restraints . 4.three Porter’s Five Forces Analysis . 4.3.1 Threat of New Entrants . 4.three.2 Bargaining Power of Buyers/Consumers . 4.3.three Bargaining Power of Suppliers . 4.three.four Threat of Substitute Products . four.three.5 Intensity of Competitive Rivalry
5. 5. MARKET SEGMENTATION . 5.1 Product Type . 5.1.1 Treadmills . 5.1.2 Elliptical Machines . 5.1.3 Stationary Cycles . 5.1.four Rowing Machines . 5.1.5 Strength Training Equipment . 5.1.6 Other Product Types . 5.2 End User . 5.2.1 Residential . 5.2.2 Commercial . 5.three Distribution Channel . 5.3.1 Offline Retail Stores . 5.three.2 Online Retail Stores . 5.4 Geography . 5.four.1 North America . 188.8.131.52 United States . 5.four.1.2 Canada . 5.four.1.3 Mexico . 184.108.40.206 Rest of North America . 5.four.2 Europe . 220.127.116.11 Spain . 18.104.22.168 United Kingdom . 22.214.171.124 Germany . 5.four.2.4 France . 5.four.2.5 Italy . 5.four.2.6 Russia . 126.96.36.199 Rest of Europe . 5.four.three Asia-Pacific . 5.four.three.1 China . 188.8.131.52 Japan . 5.4.three.three India . 5.4.3.four Australia . 5.four.3.5 Rest of Asia-Pacific . 5.four.four South America . 5.four.four.1 Brazil . 5.four.four.2 Argentina . 184.108.40.206 Rest of South America . 5.4.5 Middle-East and Africa . 5.four.5.1 South Africa . 220.127.116.11 Saudi Arabia . 5.4.5.three Rest of Middle-East and Africa
6. 6. COMPETITIVE LANDSCAPE . 6.1 Most Adopted Strategies . 6.2 Market Share Analysis . 6.three Company Profiles . 6.3.1 Technogym SpA . 6.3.2 Nautilus Inc. . 6.three.three Johnson Health Tech Co. . 6.three.4 Anta International Group Holdings Ltd. (Amer Sports) . 6.three.5 Icon Health & Fitness Inc. . 6.three.6 Body-Solid Inc. . 6.3.7 Jerai Fitness Pvt. Ltd. . 6.3.eight Dyaco International Inc. . 6.3.9 Peloton Interactive, Inc. . 6.three.10 Decathlon S.A.
7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Fitness Equipment Market Research FAQs
What is the examine interval of this market?
The Fitness Equipment Market market is studied from .
What is the expansion price of Fitness Equipment Market?
The Fitness Equipment Market is rising at a CAGR of 5.8% over the subsequent 5 years.
Which area has highest growth price in Fitness Equipment Market?
Asia-Pacific is growing at the highest CAGR over .
Which area has largest share in Fitness Equipment Market?
North America holds highest share in 2021.
Who are the important thing players in Fitness Equipment Market?
Nautilus Inc., Johnson Health Tech Co., Peloton Interactive, Inc., Icon Health & Fitness Inc., Anta International Group Holdings Ltd. (Amer Sports) are the main corporations working in Fitness Equipment Market.
Fitness Equipment Industry Reports
In-depth trade statistics and market share insights of the Fitness Equipment Market sector for 2020, 2021, and 2022. The Fitness Equipment Market research report supplies a comprehensive outlook of the market size and an trade development forecast for 2023 to 2028. Available to obtain is a free sample file of the Fitness Equipment Market report PDF.
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