The fitness equipment market dimension was valued at $13.2 billion in 2020, and is expected to reach $15.four billion by 2028, registering a CAGR of zero.3% from 2021 to 2028. The cardiovascular coaching equipment section led when it comes to fitness equipment market share in 2020 and is expected to retain its dominance all through the forecast interval.
Fitness equipment is any machine or system required for bodily exercise to manage overall weight, improve bodily stamina, and develop muscular energy. The fitness equipment market demand has elevated globally, as a outcome of a rise in health consciousness. In addition, physical exercise is suggested throughout certain medical therapies. The mostly used fitness equipment contains treadmills, elliptical, stationary bicycles weightlifting machines & energy building machines, and others. The increase within the prevalence of obesity and the rise in health consciousness have majorly fostered the growth of the global fitness equipment market. Furthermore, a surge in the number of gym memberships, a rise within the sale of in-home equipment, an upsurge within the city inhabitants, and an increase in authorities initiatives to advertise healthy life gas the adoption of fitness equipment.
The adoption of fitness equipment at home is predicted to extend among the inhabitants over the following few years, owing to the rising influence of COVID-19. Market closures, increasing consciousness about self-care products, and growing fitness trends among the public have propelled the at-home fitness equipment in the yr 2020. Furthermore, sedentary existence and hectic schedules have led to the adoption of in-home fitness equipment. Exercising at home using fitness equipment saves gym membership bills. However, house limitations and the excessive value of kit restrain the market progress.
The penetration of home utilization fitness equipment is the best in the united states Free weights are among the most commonly used energy equipment and provide fixed in addition to adjustable weights. Home gym equipment is on the market with cables and adjustable pulleys that present choices for abdominal, arm, shoulder again, and chest workouts, leg presses, and calf raises offering customization in a single multipurpose equipment. Furthermore, leading players in the fitness equipment business are developing with progressive options. For occasion, Life Fitness, one of the main gamers working out there, provides F3 folding treadmills to home customers with wireless telemetry heart price monitoring and the convenience of minimal space for storing.
Increasing issues among consumers associated to COVID-19 have shifted their preferences towards home fitness equipment worldwide. The home consumer segment has elevated and held more than 60% share of the global fitness equipment market in 2020. The home consumer phase is additional fragmented into home, house, and gyms in an apartment, whereas one other business person is subdivided into hotel, company office, hospitals & medical middle, and public institution.
The fitness equipment market is segmented into sort, end person, price level, and area. Depending on type, the fitness equipment market is categorized into cardiovascular training equipment, strength coaching equipment, and other equipment. By end person, the market is segregated into health clubs/gyms, hospitality, residential, & leisure (Hotels, Residential, and Leisure Clubs), health, company, public (Hospitals & Medical Centers, Corporate Offices, and Public Institutions), and home customers. By value level, the market is segregated into premium/luxury and mass. Each of the segments in finish person and worth level are further categorized into cardiovascular training equipment, energy training equipment, and other equipment.
As per the fitness equipment market tendencies, by type, the fitness equipment market is segmented into cardiovascular training equipment, energy training equipment, and other equipment. The cardiovascular coaching equipment phase accounts for the most important fitness equipment market share and is poised to grow with a significant CAGR through the analysis interval. The vendors of cardiovascular equipment are famend companies as well as domestic players. The market has witnessed the entry of assorted new gamers similar to RFE International, which is a licensee of Adidas. It has launched its array of exercise bikes, treadmills, and cross trainers in the market. Companies such as Precor, Nautilus, ICON Health & Fitness, and Brunswick supply a variety of cardiovascular merchandise. Key gamers within the cardiovascular equipment market are specializing in the development of progressive products. For occasion, TRUE Fitness Technology, Inc. launched the Alpine Runner, a cardio machine that gives an incline function, which ranges from -3% to 30% and burns more calories as compared to exercising on walkers and runners.
Fitness Equipment Market
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Cardiovascular Training Equipment section held the most important share of 63.0% in 2020, owing to the increased demand for the cardiovascular equipments for at-home use.
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By finish person, home client section held the most important share of 55.9% in 2020, owing to the closure of business gyms and fitness facilities, which inspired the growth of home gyms. An improve in the number of health clubs and gyms considerably drives the expansion of the global fitness equipment market. Health clubs drive the market for each cardiovascular and energy coaching exercises. In the us, fitness golf equipment and membership rates have witnessed an honest improve in recent times owing to an increase within the incidence of obesity, with 34,460 clubs and 55 million members in 2015. However, COVID-19 has impacted the health clubs/gym market because of market closures and the imposition of social distancing all internationally.
Fitness Equipment Market
By End User
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Home Consumer segment held the major share of 55.9% in 2020, owing to the closure of economic gyms and fitness centres, which encouraged the expansion of the home gyms
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In LAMEA, the adoption of fitness equipment in health golf equipment is comparatively larger as in comparison with home and other industrial user segments. Brazil has one of many highest numbers of fitness and health golf equipment with 34,509 in 2017 and has been considerably driving the market, owing to the sturdy fitness tradition in the country. Increase in health consciousness among the many population has increased the number of people going to the gym. Increase in per capita income, surge in urbanization charges, and growth in the youth population in creating economies are anticipated to offer lucrative opportunities to market gamers.
By price level, the mass segment dominated the market with 55.3% of the market share in 2020, owing to the higher choice for affordable fitness equipment among the many majority of consumers. This is probably the most most popular value range amongst global consumers because, at this worth vary, the client can acquire a go quality loaded with options fitness equipment. Most of the main players similar to ICON Health & Fitness, Life Fitness, Brunswick, and True Fitness provide their fitness equipment products at a mid-price range.
Fitness Equipment Market
By Price Point
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Mass phase held the main share of 55.3% in 2020, owing to the presence of giant number of low and middle-income customers and demand for quality equipment at inexpensive prices
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Mid-price section is essentially the most most popular section by each the buyers and the producers. North America and Europe are the top markets for this segment as a end result of excessive purchasing capacity of customers, demand for superior technological equipment, and growing cases of weight problems. Moreover, the desire for high-quality fitness equipment is driving the market for this phase in developed international locations corresponding to U.S., UK, Canada, Germany, and France. Asia-Pacific nations corresponding to China and India seem to supply lucrative progress opportunities for this phase as a result of rising youth population and rising disposable earnings.
By area, the fitness equipment market is studied throughout North America, Europe, Asia-Pacific, and LAMEA. North America is the largest market for fitness equipment throughout the globe. A larger base of overweight population within the region results in greater adoption of fitness equipment. Obesity has long-term negative results on health together with however not limited to coronary heart illness, stroke, sort 2 diabetes, high blood pressure, most cancers, and different bone & joint illnesses. In 2014, as per an analysis by the National Center for Weight & Wellness, the annual cost of obesity was valued at $305 billion, which included direct medical and non-medical services, worker productiveness losses, incapacity issues, and untimely death. This has led to an elevated need for weight administration in the region. As per the statistics, the us and Canada collectively have the largest number of fitness clubs the world over (in the range of 35,000-38,000) and report the highest membership charges. As per the International Health, Racquet & Sportsclub Association (IHRSA), in 2017, the variety of particular person members in the U.S. totaled 60.9 million, up 6.3% from 57.3 million in 2020. Cardiovascular training is essentially the most most well-liked equipment in both regions.
Fitness Equipment Market
North America section held the main share of forty four.7% in 2020 due to the presence of largest variety of fitness golf equipment across the world
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Japan and Korea are the main markets for fitness equipment in the Asia-Pacific region. Increase in disposable income and rapid economic progress in the area have led to sedentary lifestyles and elevated spending on quick meals, leading to unhealthy existence.
This has elevated the incidence of way of life illnesses such as weight problems, diabetes, heart illness, hypertension, and other bone ailments. Growing awareness amongst individuals about long-term penalties of such ailments has inspired folks to stay fit by understanding at gyms and fitness centers. The use of strength training equipment among the youth inhabitants is expected to increase at a faster pace in the close to future.
The growth of the Asia-Pacific market is pushed by elevated awareness of fitness among the youth inhabitants. Adoption of western culture and rising need to enhance exterior appearance have led to increase in gym memberships. Moreover, about 80% of the market development is expected to take place within the rising economies for the next 20 years. The per capita disposable income of Asia-Pacific area elevated by 19.3% throughout . Rapid urbanization in developing economies, growing youth inhabitants, and rising per capita disposable revenue are expected to propel the adoption of fitness equipment within the area.
The report focuses on the expansion prospects, restraints, opportunities, and fitness equipment market forecast. The examine supplies Porters 5 forces analysis to know the influence of assorted components corresponding to aggressive depth of rivals, bargaining power of suppliers, risk of substitutes, threat of recent entrants, and bargaining power of patrons of the fitness equipment market. Some of the vital thing gamers in the fitness equipment market analysis consists of ICON Health & Fitness, Inc., Brunswick Corporation, Johnson Health Tech Co., Ltd., Technogym S.p.A, Amer Sports Corporation, Nautilus, Inc., Core Health and Fitness, LLC, TRUE Fitness Technology, Inc., Impulse (Qingdao) Health Tech Co., Ltd., and Torque Fitness, LLC.
The fitness equipment market is reasonably fragmented with the top ten players accounting for fifty three.6% of the market share. Peloton Interactive, Inc. garnered the main position throughout international fitness equipment market with sixteen.3% of the market share in 2021.
ICON Health & Fitness, Inc. (iFit) occupied the second largest position in the global fitness equipment market, with global market share of 14.9%. The company has a variety of products marketed beneath different brands such as NordicTrack, Pro Forms, Health Rider, Weslo, and iFit. Manufacturing amenities put in at key geographies have made ICON a market chief. In addition, the brand image throughout the market and wide distribution network have contributed towards the growth of its total business in fitness equipment manufacturing.
Key benefits for the stakeholder
* This examine provides an in-depth analysis of the global fitness equipment market with present developments and future estimations to elucidate the funding pockets in this market.
* The report supplies data concerning key drivers, restraints, and opportunities with impact evaluation.
* The worth chain analysis of the business highlights the key intermediaries involved and elaborates their roles and value addition at every stage in the worth chain.
* The quantitative analysis of the market through the period of 2017–2028 has been supplied to elaborate the market potential.
Fitness Equipment Market Report Highlights
Aspects Details By Type * CARDIOVASCULAR TRAINING EQUIPMENT * TREADMILLS
* STATIONARY CYCLES
* ELLIPTICAL & OTHERS
* STRENGTH TRAINING EQUIPMENT * FREE WEIGHTS
* OTHER MACHINES
* OTHER EQUIPMENT * ACTIVITY MONITORS
* BODY ANALYZERS
By End User * Home client * Home
* Gyms in Apartment
* Health clubs/gym
* Other commercial consumer * Hotels
* Corporate offices
* Hospitals & Medical Centers
* Public Institutions (Schools, Universities, and Others)
By Region * NorthAmerica(U.S., Canada, Mexico)
* Europe(UK, France, Germany, Italy, Spain, Portugal, Benelux, Rest of Europe)
* Asia-pacific(Japan, Korea, China, India, HongKong, Indonesia, Vietnam, Australia, Malaysia, Rest o f Asia-Pacific)
* LAMEA(Brazil, Rest of LAMEA)
Key Market Players ANTA SPORTS PRODUCTS LIMITED, CORE HEALTH & FITNESS, LLC, ICON HEALTH & FITNESS, INC., IMPULSE HEALTH TECHNOLOGY CO., LTD., JOHNSON HEALTH TECH. CO., LTD., NAUTILUS, INC., PELOTON INTERACTIVE INC., TECHNOGYM S.P.A., TORQUE FITNESS, LLC, TRUE FITNESS TECHNOLOGY, INC.