Revenues from the fitness equipment market will reach USD 18,125 Mn per

NEW YORK, June 20, 2022 (GLOBE NEWSWIRE) — The Global Fitness Equipment Market The size represented USD 10,982 Mn in 2021 and is estimated to reach USD 18,125 Mn by 2030, with a significant CAGR of 5.9% from 2022 to 2030.

The covid-19 pandemic, as well as rising rates of chronic diseases like cardiovascular disease, remain a major concern for health-conscious people. High urbanization, an increasingly sedentary lifestyle and a lack of fitness facilities since childhood have increased the burden of maintaining good health on people. As a result, having affordable and convenient access to equipment such as treadmills, stationary bikes, and strength training equipment is critical to maintaining a healthy lifestyle for people around the world.

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Coverage Report:

Market Fitness Equipment Market
Market size 2021 USD 10,982 million
Market Forecast 2030 $18.125 million
CAGR 5.9% During 2022 – 2030
Analysis period 2018 – 2030
base year 2021
forecast data 2022 – 2030
Covered segments By type, by end use, by region
Regional Scope North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa
Key Companies Profiled Anta Sports, Core Health and Fitness, LLC, ICON Health & Fitness, Inc., Johnson Health Tech Co., Ltd., Nautilus, Inc., Impulse (Qingdao) Health Tech Co., Ltd., Peloton, Technogym SpA, Torque Gym, LLC. and TRUE Fitness Technology, Inc.
Report Coverage Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiles, Regulations Analysis
Customization Scope 10 hours of free customization and expert consultation

Impact of Covid-19 on the global fitness equipment industry

According to research by The Global Health & Fitness Association, approximately 70 million people attended gyms in 2017, with a total of 60.9 million Americans as members. Americans are obsessed with being fit, and the rise in popularity of boutique fitness has only increased interest. With the spread of COVID-19, the importance and benefit of leading a healthy lifestyle has not diminished but has substantially altered. Americans looking for new and innovative ways to exercise and stay active at home looked for new and innovative ways to reduce stress and stay fit. As a result, since the epidemic, purchases of sports and fitness equipment have increased by approximately 23%.

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Global Fitness Equipment Market Growth Factors

The demand for fitness equipment has increased globally due to increased health awareness. The rise in the prevalence of obesity and health awareness has significantly fueled the growth of the global fitness equipment market. Remote work, while flexible, often leads to less exercise, poor dietary control, and a significant impact on physical and mental health. The growing awareness of lifestyle disorders, such as diabetes and cardiovascular diseases, as well as their higher prevalence among white-collar employees and an increasingly sedentary lifestyle, promises an ever-increasing scenario of potential for participants in the fitness equipment market.

Today, artificial intelligence (AI) and machine learning technology are being integrated into home fitness equipment, which is helping to develop the global fitness equipment market. The AI-based personal trainer is projected to be the next big thing in the home exercise equipment industry. Also, due to the increase in disposable income, the desire to preserve physical and mental health, and the growing trend of bodybuilding, the demand for home fitness equipment is increasing in emerging economies.

Segmentation of the global fitness equipment market

The fitness equipment market is divided into three categories: type, end use, and geography. Based on the type, the fitness equipment market is divided into strength training equipment, cardiovascular training equipment, and other types. Free weights and other machines are covered under strength training equipment. The cardio training equipment segment is further classified into treadmills, exercise bikes, elliptical trainers, and others. In addition, the other equipment segment includes body analyzers and activity monitors or trackers. Based on our analysis, the cardio fitness equipment segment achieved a substantial market share in 2021.

Based on end use, the market is categorized into household consumers, health clubs/gyms, and other commercial users. The domestic consumer segment is divided into home, apartment, and apartment gyms. In addition, the other segment of business users includes corporate offices, hotels, hospitals and medical centers, and public institutions (schools, universities and others). In 2021, the domestic consumption segment accumulated a significant share of participation. Home users buy a variety of training equipment for their use. Health clubs, gyms, and fitness facilities buy commercial exercise machines. Fitness equipment is a must for your core business. The pandemic forced the closure of gyms and health clubs around the world, affecting the entire business but creating opportunities for domestic consumers.

Regional Fitness Equipment Market Posture

The regional segmentation of the market includes North America, Asia-Pacific, Latin America, Europe, and the Middle East and Africa. Based on regions, North America maintained the leading market share in 2021. The high growth in the region is attributed to the rising trend of home fitness equipment, growing awareness to maintain physical health, and rising demand for fitness. However, the Asia-Pacific region is likely to record the fastest growth during the 2022-2030 forecast period. Rising disposable income, rising government initiatives and a growing urban population in countries such as China and India are expected to support the further growth of the Asia-Pacific fitness equipment market.

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Principal actors

The fitness equipment industry involves many key players. Major players featured in the report include Johnson Health Tech Co., Ltd., ICON Health & Fitness, Inc., Peloton, Impulse (Qingdao) Health Tech Co., Ltd., Technogym SpA, Nautilus, Inc., Torque Fitness, LLC, Anta Sports, Core Health and Fitness, LLC and TRUE Fitness Technology, Inc.

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