Fitness Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global Fitness Equipment Market Report is Segmented by Product Type (Treadmills, Elliptical Machines, Stationary Machines, Rowing Machines, Strength Training Equipment, and Other Product Types), Category (Residential and Commercial), Distribution Channel (Offline Retail Stores and Online Retail Stores), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Report Offers Market Size and Values (in USD) During the Forecasted Years for the Above Segments.

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Fitness Equipment Market Size

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Fitness Equipment Market Summary
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Study Period 2019-2029
Market Size (2024) USD 34.92 Billion
Market Size (2029) USD 44.02 Billion
CAGR (2024 - 2029) 4.74 %
Fastest Growing Market South America
Largest Market Europe

Major Players

Fitness Equipment Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Fitness Equipment Market Analysis

The Fitness Equipment Market size is estimated at USD 34.92 billion in 2024, and is expected to reach USD 44.02 billion by 2029, growing at a CAGR of 4.74% during the forecast period (2024-2029).

  • Diabetes, obesity, high blood pressure, and arthritis are some common chronic diseases that are prevailing in the world due to lifestyle changes, changes in food habits, and overconsumption of high-calorie foods. Due to the prevalence of these diseases, people have become more conscious of their health and fitness. Premature weakness in bones and muscles is a problem in the young generation due to the frequent consumption of fast food and alcoholic beverages.
  • Because of their awareness of such issues, going to fitness centers and working out has become a trend. The growing preference for a healthy and fit lifestyle drives the fitness equipment market growth. There is also a surge in fitness centers and health clubs worldwide, further propelling the market growth.
  • Growing government initiatives related to health awareness are also propelling market growth. These initiatives aim to promote and protect health by guiding at the individual, national, and global levels in reducing disease and death rates related to unhealthy diets and physical inactivity, boosting consumers’ interest in fitness activities.
  • Due to advanced technology, market players are venturing on partnerships to launch new products with advance technologies. For instance, in April 2021, Matrix, a Johnson Health Tech Co. brand, partnered with iFIT, a global leader in interactive connected fitness technology and content. This partnership aims to incorporate iFit's digital technology into Matrix's products.

Fitness Equipment Market Trends

Inclination Toward a Healthy Lifestyle

  • The rising prevalence of lifestyle diseases, such as diabetes, obesity, hypertension, and high blood pressure, due to unhealthy dietary patterns and physical inactivity encourages the participation of individuals in fitness regimes. According to StatCan, in 2021, around 29% of adults in Canada aged 18 years and older were obese, while 36% were overweight. Thus, people are inclined toward a healthy lifestyle, driving the fitness equipment market.
  • Besides this, government initiatives to promote participation in physical activities and strengthen links between the community and various sports and fitness organizations are propelling the market growth. Moreover, market players are introducing connected fitness equipment.
  • For instance, in September 2022, Nautilus Inc. launched the Bowflex BXT8J treadmill with the JRNY adaptive fitness app. The treadmill can pair with a mobile device or tablet to provide access to the fitness app.
Fitness Equipment Market: Percentage of Population Engaged in Sports and Exercise Per Day, United States, 2017-2021

Europe is the Largest Market for Fitness Equipment

  • Fitness equipment in the United Kingdom reflects a diverse and growing market driven by a heightened awareness of health and wellness. Traditional gym equipment like treadmills, stationary bikes, and weightlifting machines remains popular. Still, home fitness equipment has a rising trend, including smart exercise machines, connected fitness apps, and compact workout gear.
  • With a well-established gym culture and a focus on physical fitness, Germany has a wide array of fitness facilities and a strong demand for professional training services. For instance, in 2022, according to EuropeActive, the ​​European Health and Fitness Association (EHFA), the number of fitness club members in Germany was 10.3 million.
  • Increased awareness of the benefits of regular exercise for overall health and well-being has encouraged individuals to prioritize physical activity in Spain. For instance, according to a survey by the Ministry of Education, Culture and Sport, nearly 27% of men and 20.7% of women exercised daily in Spain in 2022.
  • Governments in different countries of Europe promote healthy lifestyles through public health initiatives and campaigns. This includes encouraging physical fitness and exercise to combat obesity and related health issues. As a result, there is an increasing awareness of the importance of fitness, which drives the demand for fitness equipment in commercial fitness facilities and for personal use.
Fitness Equipment Market: Market CAGR (%), By Region, Global, 2022

Fitness Equipment Industry Overview

The fitness equipment market is fragmented, with global and regional players dominating the market. The prominent market players are Nautilus Inc., Johnson Health Tech Co., Peloton Interactive, Inc., Icon Health & Fitness, Inc., and Life Fitness. Because of the increasing trend of fitness and sports, the demand for fitness equipment is increasing worldwide. Mergers and acquisitions between companies are driving innovation and market penetration. 

For instance, in April 2021, Peloton acquired Precor, one of the leading global commercial fitness equipment manufacturers with a significant United States manufacturing presence. With this acquisition, Peloton expands its manufacturing capabilities in the United States, anticipates collaborating with Precor's team to strengthen its research and development capabilities, and accelerates its commercial market penetration.

Fitness Equipment Market Leaders

  1. Nautilus Inc.

  2. Johnson Health Tech Co.

  3. Peloton Interactive, Inc.

  4. Icon Health & Fitness Inc.

  5. Life Fitness

*Disclaimer: Major Players sorted in no particular order

Fitness Equipment Market Concentration
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Fitness Equipment Market News

  • April 2023: Life Fitness partnered with Bayerwaldhof, a wellness hotel, to furnish its new fitness room with premium fitness equipment, ensuring a top-notch wellness experience for guests.
  • September 2022: Peloton Interactive, Inc. unveiled Peloton Row, an innovative fitness equipment featuring cutting-edge software and a premium hardware design tailored for low-impact, full-body cardio and strength workouts.
  • August 2021: Johnson Health Tech (JHT) acquired Matrix Fitness South Africa, formerly a distributor, thereby establishing JHT as the inaugural fitness equipment manufacturer with a wholly-owned subsidiary in Africa.

Fitness Equipment Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

      1. 4.1.1 Adoption of Healthy Lifestyle

      2. 4.1.2 Integration of Technology In Fitness Equipment

    2. 4.2 Market Restraints

      1. 4.2.1 Alternative Fitness Solutions Pose a Threat

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Treadmills

      2. 5.1.2 Elliptical Machines

      3. 5.1.3 Stationary Cycles

      4. 5.1.4 Rowing Machines

      5. 5.1.5 Strength Training Equipment

      6. 5.1.6 Other Product Types

    2. 5.2 Category

      1. 5.2.1 Residential

      2. 5.2.2 Commercial

    3. 5.3 Distribution Channel

      1. 5.3.1 Offline Retail Stores

      2. 5.3.2 Online Retail Stores

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

        4. 5.4.1.4 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Spain

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 Germany

        4. 5.4.2.4 France

        5. 5.4.2.5 Italy

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 South Africa

        2. 5.4.5.2 United Arab Emirates

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Technogym SpA

      2. 6.3.2 Nautilus Inc.

      3. 6.3.3 Johnson Health Tech Co.

      4. 6.3.4 Body-Solid Inc.

      5. 6.3.5 Jerai Fitness Pvt. Ltd.

      6. 6.3.6 Total Gym

      7. 6.3.7 Life Fitness

      8. 6.3.8 Waterrower NOHRD Gmbh

      9. 6.3.9 IFIT Inc.

      10. 6.3.10 Powertec

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Fitness Equipment Industry Segmentation

Fitness equipment is used during physical activity to enhance the strength of the body while exercising. The equipment is designed so that it can be controlled manually according to the requirements and strength of the user. 

The fitness equipment market is segmented by product type, category, distribution channel, and geography. By product type, the market is segmented into treadmills, elliptical machines, stationary cycles, rowing machines, strength training equipment, and other product types. By category, the market is segmented into residential and commercial. By distribution channel, the market is segmented into offline and online retail stores. The market is segmented by geography into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. 

For each segment, the market sizing and forecast have been done on the basis of value (in USD).

Product Type
Treadmills
Elliptical Machines
Stationary Cycles
Rowing Machines
Strength Training Equipment
Other Product Types
Category
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
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
United Arab Emirates
Rest of Middle-East and Africa
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Fitness Equipment Market Research Faqs

The Fitness Equipment Market size is expected to reach USD 34.92 billion in 2024 and grow at a CAGR of 4.74% to reach USD 44.02 billion by 2029.

In 2024, the Fitness Equipment Market size is expected to reach USD 34.92 billion.

Nautilus Inc., Johnson Health Tech Co., Peloton Interactive, Inc., Icon Health & Fitness Inc. and Life Fitness are the major companies operating in the Fitness Equipment Market.

South America is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Europe accounts for the largest market share in Fitness Equipment Market.

In 2023, the Fitness Equipment Market size was estimated at USD 33.26 billion. The report covers the Fitness Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Fitness Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

The emerging technologies shaping the Fitness Equipment Industry are a) Virtual reality workouts b) AI-powered training c) Biofeedback integration for personalized fitness

Fitness Equipment Industry Report

The global fitness equipment market is witnessing robust growth, fueled by increased health consciousness and the prevalence of lifestyle diseases like obesity and diabetes. This surge is supported by the rise in health clubs, gyms, and government health awareness initiatives. With cardiovascular training equipment and the home consumer segment leading the market due to the popularity of home gyms, the industry sees a preference for affordable, quality equipment within the mass and mid-price segments. The shift towards smart and connected equipment highlights the market's dynamic nature, shaped by consumer preferences for health and wellness and the integration of technology. North America and Asia-Pacific are key players, with the latter expected to see rapid expansion driven by higher disposable incomes and urbanization. This evolving landscape offers vast opportunities for market expansion and innovation, addressing diverse consumer fitness needs. Market statistics underscore the industry's trajectory, underscoring its growth potential and the evolving consumer landscape's impact on demand and innovation within the fitness equipment sector. Statistics for the Gym Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Gym Equipment analysis includes a market forecast outlook and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Fitness Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)