Fitness Equipment Market to be Worth $56.22 Billion by 2031

Fitness Equipment Market Size, Share, Forecast, & Trends Analysis by Type (Cardio [Exercise Bikes, Rower, Treadmills, Ellipticals] Strength Training [Dumbbells, Weights, Power Racks]) Distribution Channel (Online, Retailer) Price — Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled Fitness Equipment Market Size, Share, Forecast, & Trends Analysis by Type (Cardio [Exercise Bikes, Rower, Treadmills, Ellipticals] Strength Training [Dumbbells, Weights, Power Racks]) Distribution Channel (Online, Retailer) Price—Global Forecast to 2031.

According to this latest publication from Meticulous Research^®, the Fitness Equipment Market is projected to reach $56.22 billion by 2031 at a CAGR of 4.6% from 2024 to 2031.The growth of this market is driven by the increasing prevalence of obesity and cardiovascular diseases, technological advancements in fitness equipment, rising disposable incomes, growing awareness about the benefits of exercising regularly, the rising number of personal trainers or fitness instructors, and the proliferation of fitness clubs and gyms. However, the availability of alternative fitness routines and injuries resulting from the incorrect use of fitness equipment may restrain market growth.

The growing inclination towards home-based workouts due to their convenience & accessibility and the rising demand for virtual training sessions are expected to create market growth opportunities. However, the high costs of purchasing and maintaining fitness equipment pose a significant challenge to the market’s growth. Furthermore, the integration of AI with fitness apps and the increasing sales of rowing machines are prominent trends in the fitness equipment market.

The key players operating in the fitness equipment market are Peloton Interactive, Inc. (U.S.), Cybex International, Inc. (U.S.), Johnson Health Tech. Co., Ltd. (U.S.), ControllerTechnogym S.p.A. (Italy), Dyaco International Inc. (Taiwan), Decathlon SA (France), Precor Incorporated (U.S.), Hammer Sport AG (Germany), Tonal Systems, Inc. (U.S), HOIST Fitness Systems, Inc. (U.S.), and NordicTrack 6(U.S.).

Fitness Equipment Market: Future Outlook

The fitness equipment market is segmented by Type (Cardiovascular Training Equipment [Exercise bikes {AirBikes, and Stationary Cycles}, Elliptical Machines, Treadmills {Manual Treadmills, and Automatic Treadmills}, Rowers, and Treadclimbers], [Strength Training Equipment, {Free Weights, Power Racks, and Dumbbells}, Other Equipment and Accessories) Price Range (Low, Medium, and High), Distribution Channel (Online/E-commerce and Retail), End User (Commercial [Gyms and Fitness Clubs, Hospitality and Leisure, Corporate Gyms, Educational Institutes], Residential [Apartment Gyms, and Home/Multi-Family Residences]) and Geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Among the products covered in this report, in 2024, the cardiovascular training equipment segment is expected to account for the largest share of the fitness equipment market. The segment is further categorized into exercise bikes, elliptical machines, treadmills, rowers, and treadclimbers. This segment’s large market share can be attributed to the increasing prevalence of cardiovascular diseases and the growing interest in cardio workouts to enhance endurance & stamina, manage weight, and burn fat.

Among the price ranges covered in this report, in 2024, the medium price range segment is expected to account for the largest share of the fitness equipment market. This segment’s large market share can be attributed to the high demand for medium-priced fitness equipment, offering a balance between quality and affordability. Additionally, the wide availability of products within this price range and the increasing number of both commercial and residential gyms, emphasizing affordability, contribute to the large market share of this segment.

Among the distribution channels covered in this report, in 2024, the retail segment is expected to account for the largest share of the fitness equipment market. This segment’s large market share can be attributed to the expansion of retail chains operated by global companies and the proliferation of specialty fitness shops and retail stores. Additionally, consumers seeking personalized shopping experiences and the desire for physical inspection before purchasing large equipment contribute to the segment’s large market share.

Among the end users covered in this report, in 2024, the commercial segment is expected to account for the larger share of the fitness equipment market. This segment’s large market share can be attributed to the easy accessibility to advanced fitness equipment at gyms and other establishments such as corporate institutes and fitness clubs, the rising number of fitness enthusiasts, and the growing prevalence of cardiovascular diseases.

This research report analyzes major geographies and provides a comprehensive analysis of the market in North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Netherlands, Ireland, Denmark and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and the Middle East & Africa.

Among the regions covered in this report, Asia-Pacific is projected to register the highest CAGR during the forecast period. The growth of this regional market is driven by the increasing prevalence of cardiovascular diseases, a rising number of individuals engaging in fitness activities, and the expanding middle-class population with greater purchasing power. Additionally, major market players are strategically expanding their presence in Asia-Pacific to meet the rising demand for fitness products. For instance, in December 2023, REP Fitness (U.S), a fitness equipment brand, partnered with TheRack.co (Philippines), an omnichannel distributor, to cater to the growing demand for gym equipment and fitness items in the Philippines.

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Key Questions Answered in the Report:

Which are the high-growth market segments in terms of type, price range, distribution channel, end user, and region/country?
What was the historical market size for fitness equipment globally?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, challenges, opportunities, and trends in the fitness equipment market?
Who are the major players in the fitness equipment market?
What is the competitive landscape like?
What are the recent developments in the fitness equipment market?
What are the different strategies adopted by the major players in the fitness equipment market?
What are the geographical trends and high growth regions/countries?

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