The fitness equipment market size accounted for around USD 10.4 Billion in 2018, growing at a CAGR of 4% during the forecast period.
The rising awareness regarding health has led to an increase in demand for fitness equipment globally. Fitness equipment is widely used for doing physical exercises to overcome obesity, develop muscular strength, and improve physical stamina. Fitness equipment comprises of cardiovascular training equipment, strength training equipment, and others. The commonly used cardiovascular equipment is elliptical, stationary bikes, and treadmills. To stimulate the heart rate, maintaining the overall health and fitness, as well as in burning excess body fat, cardiovascular equipment is highly helpful. Strength training equipment is used to improve muscular strength and is highly helpful in improving one’s overall personality and appearance. Free weights and other strength machines form strength training equipment.
Growing awareness regarding health & fitness, government initiatives for promoting good health, increasing overweight population, and the surge in youth population going for gyms are some of the prominent factors that are anticipated to drive the global fitness equipment market growth over the forecast period. The high cost of fitness equipment is the main restraining factor for the global fitness equipment market over the forecast timeframe. Moreover, the rising number of smart fitness centers and growing consumption of in-house fitness machines complement to the high demand for fitness equipment market during the forecast period. Various fitness equipment producers have launched smart exercising machines in the market, such as Bluetooth enabled dumbbells, connected rowing equipment, etc. to enhance the user experiences. Improvement in lifestyle, rising disposable income of individuals in developing countries like India, China, Malaysia, etc. offer growth opportunities for the market players and are expected to bolster the growth of fitness equipment market in the forecast period.
Some of the key players operating in the global fitness equipment market include Brunswick Corporation, Technogym S.p.A., Nautilus, Inc., TRUE Fitness Technology Inc., Torque Fitness LLC, ICON Health & Fitness Inc., Johnson Health Tech Co. Ltd., Amer Sports Corporation, Core Health and Fitness LLC, and Impulse (Qingdao) Health Tech Co. Ltd.
Global Fitness Equipment Market: Type Segment Analysis
- Cardiovascular Training Equipment
- Strength Training Equipment
- Other Equipment
Global Fitness Equipment Market: User Segment Analysis
- Home Consumer
- Health Club/Gym
- Other Commercial User
Global Advanced Ceramics Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa