Fitness Equipment Market valuation will reach USD 18.05 billion

The Global Fitness Equipment Market size is estimated to be USD 10.89 billion in 2019 and is predicted to reach USD 18.05 billion by 2030 with a CAGR of 4.7% from 2020-2030. Fitness Equipment is the machines which are used for physical exercises for various purposes such as to maintain body weight, improve physical stamina and many more. These equipments consist of serious of equipment such as tread mill, stationary bike, cardiovascular equipment and others. The constant use of these equipment helps to burn the excess body fat and keeps the body fit and healthy. The weights are used for the muscle building and strength which provides muscular strength to the body and improves the appearance and personality.

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Over the period of time there have been tremendous change in the lifestyle of people and changing food habits led to the excessive weight gain which led to the increase in obese population. Increase in sedentary lifestyle, lack of physical activities led to the development of various disorders which are expected to increase the demand for fitness equipment market over the forecast period.

The other factors such as increase in awareness about fitness and health, government initiatives to promote good health and increase in youth population are expected to support the market growth. On the other hand, increase in disposable income, increase in youth population with increasing health concerns are expected to create numerous opportunities in the fitness equipment market over the forecast period. However, the high cost of fitness equipments are expected to hamper the growth of fitness equipment market in the near future.

Market Segmentations and Scope of the Study:

The global fitness equipment market share is analyzed on the basis of type, end user and geography. On the basis of type, the market is segmented into cardiovascular training equipment, strength training equipment and others. The cardiovascular training is sub segmented into Treadmill, Elliptical, Stationary Bike, Rowing Machine, and Others. The strength training equipment segment is further divided into Weight-Lifting Equipment, Weights, Barbells & Ladders, Extension Machines, and Power Racks. On the basis of end user, the market is divided into Home Consumer, Health Club/Gym, and Other Commercial User. The Other Commercial User is further segmented into Hotel, Corporate Office, Hospitals & Medical Center, and Public Institution. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America represents the developed market and expected to hold the major market share owing to the increased adoption of fitness equipment over the forecast period. The other attributed factors include technological advancement, increase in obese population, increase awareness about healthcare and fitness coupled with changing lifestyle.

Asia Pacific is expected develop rapidly over the forecast period with gradual increase in market share owing to the increasing heal concerns with constant increase in gyms and fitness clubs, increase in disposable income are further expected to augment the market growth.

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The fitness equipment market is highly competitive and fragmented in nature, consists of various market players. Some of the major market players include Icon Health & Fitness, Inc., Johnson Health Tech Co. Ltd., Nautilus, Inc., True Fitness Technology, Inc., Technogym S.p.A., Impulse (Qingdao) Health Tech Co. Ltd., Exigo, Matrix Fitness, Amer Sports Corporation, Torque Fitness LLC., Brunswick Corporation, Kettler (GB) Limited, Octane Fitness and Core Health and Fitness LLC among others.

There have been various developments in the market which are expected to further contribute the growth of fitness equipment market. For instance, in April 2019 Core Health & Fitness has announced a new and exciting partnership with professional obstacle course race (OCR) athlete, Rea Kolbl. Kolbl is an impressive athlete with a deep resume that ranges from OCR to competitive gymnastic in her native Slovenia.