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Pulished Date April, 2021
ID: 10579
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Fitness Equipment Market by Type (Cardiovascular Training Equipment, Strength Training Equipment and Others) and End-User (Home Consumer, Health Club/Gym and Commercial Users): Opportunity Analysis and Industry Forecast, 2021–2026

Pulished: April, 2021
ID: 10579
Pages: 175

Fitness Equipment Market Size & Growth (2021 – 2026):

The fitness equipment market was calculated to be $ 11.95 billion in 2021 and is foreseen to reach $ 14.2 billion by 2026, registering a CAGR of 3.5% from 2021 to 2026.

With the advancements in science, today's society is increasingly dependent on technology for its daily activities. As any development or innovation has its advantages and disadvantages, we can say that technological advances have limited regular physical activity. Technology has directly or indirectly affected human health in the recent past. This has created a greater need in society to increase physical activity, balanced body weight, and cardiovascular fitness.

Impact of COVID-19 on Fitness Equipment Market:

The fitness equipment market will experience a slight decline in 2021 due to the recent coronavirus pandemic (COVID-19). As the virus spread, several government administrations around the world have imposed blockades. This has led to the closure of several fitness centers and gyms due to the need to maintain social distancing to stop the spread of the virus. This has led to a decline in the demand for fitness equipment from offices and health clubs.

Recent Developments:

  • In December 2019, Schwinn, a brand of fitness equipment, expanded its indoor cardio range with a digital cycling bike and treadmill. The products presented workout options for a variety of fitness levels.
  • In December 2019, Life Fitness launched its Life Fitness On Demand, a digital course library, for its cardiovascular products, where classes were led by instructors based in Chicago and New York.

Market Growth and Trends:

Busy schedules and long working hours, crowded gyms, and parking issues have led more consumers to actively turn to home workouts. Home fitness equipment eliminates the inconvenience of going to the gym to use the machines and is very cost-effective in the long run. The low recurring cost incurred for transportation, workout equipment, trainer fees, and membership fees is a major factor driving consumers' penchant for home fitness equipment. In addition, the growing number of manufacturers investing in the launch of apps, which provides a platform for customers to select their personal trainers for online classes or home visits to meet their specific fitness needs, such as weight training. For example, in 2019, MIRROR, the company that created the first near-invisible interactive home gym, announced the launch of individual personal training. For the first time, members will be able to bring the country's best coaches to their homes thanks to MIRROR's immersive technology.

Market Drivers and Restraints:

The recent growth observed in the global fitness equipment market can be attributed to the increased health awareness among the young and the elderly. Doctors and governments in different countries continually strive to promote the benefits of fitness, thereby creating health awareness in society. Recently, health problems related to diabetes, heart disease, and cholesterol have increased. Also, obesity in developed countries is a huge concern, making them vulnerable to different diseases.

The growing population in developing countries is another reason for the rapid growth of the fitness equipment market. The age demographics of developing countries like India and China, where the majority of the population is made up of young people, create good opportunities for the fitness equipment business. The types of training equipment include cardiovascular training equipment, strength training device, and others.

FITNESS EQUIPMENT MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 – 2026

Base Year

2020

Forecast Period

2021 - 2026

CAGR

3.5%

Segments Covered

According to the type, By end-user

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • middle east and Africa 

Market Leaders Profiled

ICON Health & Fitness, Inc., Brunswick Corporation, Johnson Health Tech Co., Ltd., Technogym SpA, Amer Sports Corporation, Nautilus, Inc., Core Health, TRUE Fitness Technology, Inc., Impulse (Qingdao) Health Tech Co., Ltd. and Torque Fitness, LLC.

Market segmentation:

The global fitness equipment market is segmented by type, end-user, and region.

Fitness Equipment Market According to the type:

The fitness equipment market is classified into cardiovascular training equipment, strength training equipment, and other equipment. The cardiovascular training equipment segment is subdivided into treadmill, elliptical, stationary bike, rowing machine, and others. The cardiovascular training equipment segment represents the majority of the fitness equipment market and is poised to grow with the highest CAGR over the analysis period.

Fitness Equipment Market By end-user:

The market is divided into home consumers, health club/gym, and commercial users. The domestic consumer segment is even more fragmented into homes, apartments, and apartment gyms, while other commercial users are subdivided into hotels, corporate offices, hospitals, and medical centers, and public institutions. Fitness equipment is widely adopted in health clubs/gyms; however, the major manufacturers to meet the demand of residential users are investing heavily in, promoting, and advertising home fitness equipment.

Regional Analysis:

Depending on the region, the global fitness equipment market is studied in

  1. North America
  2. Europe
  3. Asia-Pacific
  4. Latin America 
  5. Middle east and Africa 

North America leads in terms of market share, but the Asia-Pacific region is supposed to grow at the highest CAGR during the outlook period. Rising disposable income and rapid economic growth in the Asia-Pacific region have led to sedentary lifestyles and increased spending at fast-food restaurants, leading to unhealthy lifestyles. This has increased the incidence of lifestyle-related diseases such as obesity, diabetes, heart disease, high blood pressure, and other bone diseases.

The growing awareness among people of the long-term consequences of these diseases has encouraged people to stay in shape by training in gyms and fitness centers.

Furthermore, rapid urbanization in developing economies, rising youth populations, and rising per capita disposable income are likely to drive the adoption of fitness equipment in the area.

Key market players:

Some of the major players in global fitness equipment market analysis include ICON Health & Fitness, Inc., Brunswick Corporation, Johnson Health Tech Co., Ltd., Technogym SpA, Amer Sports Corporation, Nautilus, Inc., Core Health, TRUE Fitness Technology, Inc., Impulse (Qingdao) Health Tech Co., Ltd. and Torque Fitness, LLC.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods 

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends  

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis        

                                5.1.2 Products/Service  

                                5.1.3 Regional Presence               

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Fitness Equipment Market, By Type                

                                6.1.1 Cardiovascular Training Equipment     

                                6.1.2 Strength Training Equipment          

       6.1.3 Market Size Estimations & Forecasts (2021-2026)   

                                6.1.4 Y-o-Y Growth Rate Analysis             

                                6.1.5 Market Attractiveness Index          

                6.2 Fitness Equipment Market, By End-User  

                                6.2.1 Home Consumer  

                                6.2.2 Health Club/Gym 

                                6.2.3 Commercial Users

6.2.4 Market Size Estimations & Forecasts (2021-2026)   

                                6.2.5 Y-o-Y Growth Rate Analysis             

                                6.2.6 Market Attractiveness Index          

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region    

                7.2 North America - Market Analysis (2021 - 2026) 

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Type    

                                7.2.3 By End-User           

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Type    

                                7.3.3 By End-User           

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Type    

                                7.4.3 By End-User           

                7.5 Latin America                             

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Type    

                                7.5.3 By End-User           

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Type    

                                7.6.3 By End-User           

8. Key Player Analysis                                    

                8.1 ICON Health & Fitness, Inc                   

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Brunswick Corporation                          

                8.3 Johnson Health Tech Co., Ltd                              

                8.4 Technogym SpA                       

                8.5 Amer Sports Corporation                     

                8.6 Nautilus, Inc                               

                8.7 Core Health                

                8.8 TRUE Fitness Technology, Inc                             

                8.9 Impulse (Qingdao) Health Tech Co., Ltd   

                8.10 Torque Fitness, LLC                               

9. Market Outlook & Investment Opportunities                                

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and also identify the regions that are still untapped
  • The segment-level analysis in terms of By Type, End-User along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Fitness Equipment Market By Region, From 2021-2026 ( USD Billion )
  2. Global Fitness Equipment Market By Type, From 2021-2026 ( USD Billion )
  3. Global Cardiovascular Training Equipment Market By Region, From 2021-2026 ( USD Billion )
  4. Global Strength Training Equipment Market By Region, From 2021-2026 ( USD Billion )
  5. Global Fitness Equipment Market By End-User, From 2021-2026 ( USD Billion )
  6. Global Home Consumer Market By Region, From 2021-2026 ( USD Billion )
  7. Global Health Club/Gym Market By Region, From 2021-2026 ( USD Billion )
  8. Global Commercial Users Market By Region, From 2021-2026 ( USD Billion )

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