Fitness Equipment Market by Type, Application and Region - Global Forecast to 2024

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Fitness Equipment Market was valued at $10.2 million in 2016 and is projected to reach $13.8 billion by 2024, having a CAGR of 4.1% during the forecast period of 2017 to 2024. In 2016, the cardiovascular segment held the highest revenue share in the global fitness equipment market.
In the current scenario, remaining physically fit is the major priority for individuals and is considered to be the best way of keeping away all the health issues. Technology has emerged out as the finest tool to be applied for maintaining physique and health. Fitness equipment are those devices or machines which are used for enhancing the strength and body toning during a physical activity. Moreover, these devices are equally helpful in maintaining weight, stamina and strength. Some major fitness equipment which are frequently used by the people are treadmills, stationary bikes and elliptical.
Market Dynamics
A drastic growth is witnessed in the fitness equipment market in the past decade. This is attributed to various factors such as rapidly increasing awareness regarding physical health among people, especially in developed countries. Moreover, constantly changing lifestyle, increasing number of working population and growing disposable income have attributed the most in fueling the growth of fitness equipment market globally. In addition to this improper dietary habits, upcoming government initiatives regarding health awareness and increasing concerns among youth about looks and appearance is also stimulating the market growth. Constantly occurring cardio vascular diseases are also a major cause which are promoting the growth of fitness equipment devices as they have been proved highly efficient in curbing heart related abnormalities. As per the statistics revealed by WHO, an estimate of 17.7 million deaths occurred all over the world due to cardio vascular diseases in 2015. Awareness regarding such issues has propelled the common people to keep them fit and healthy for avoiding any such scenario. However, the high cost of fitness equipment might restrain people from buying new fitness equipment and rather compel them to buy used equipment. On the other hand, emergence of new gymnasiums and health clubs in the developing countries might bring new futuristic opportunities for the market growth.
Market Segmentation
The global fitness equipment market is segmented on the basis of type, user, and geography. Based on type, the market is segmented as Cardiovascular, Strength training and others. By end user, the market is bifurcated into home, health club and other commercial users. Geographically, the market is categorized as North America, Europe, Asia-Pacific and Rest of World. The fitness equipment market of North America garnered the largest revenue chunk in 2016, followed by the Europe. On the basis of type, cardiovascular fitness equipment segment is expected to lead the overall market during the forecast period of 2017-2024.
Some major market players of the market are Icon Health & Fitness, Inc., Brunswick Corporation, Johnson Health Tech Co. Ltd., Technogym S.p.A, Amer Sports Corporation, Nautilus, Inc., Core Health and Fitness LLC, True Fitness Technology, Inc., Impulse (Qingdao) Health Tech Co. Ltd, and Torque Fitness LLC.
FITNESS EQUIPMENT MARKET SEGMENTATION
By Type
  • Cardiovascular Training Equipment
    o Treadmills
    o Elliptical
    o Stationary bike
    o Rowing machine
    o Others
  • Strength Training Equipment
    • Other Equipment
By End User
  • Home Consumer
    • Health Clubs
    • Other Commercial Users
    o Hotels
    o Corporate Offices
    o Hospitals & Medical Centers
    o Public Institutions
By Geography
  • North America
o U.S.
o Canada
o Mexico
  • Europe
o UK
o France
o Germany
o Italy
o Spain
o Portugal
o Benelux
o Rest of Europe
  • Asia-Pacific
o Japan
o Korea
o China
o India
o Hong Kong
o Indonesia
o Vietnam
o Australia
o Malaysia
o Rest of Asia-Pacific
  • Rest of World
o Brazil
o Rest of RoW
KEY MARKET PLAYERS
• Icon Health & Fitness, Inc.
• Brunswick Corporation
• Johnson Health Tech Co. Ltd.
• Technogym S.p.A
• Amer Sports Corporation
• Nautilus, Inc.
• Core Health and Fitness LLC
• True Fitness Technology, Inc.
• Impulse (Qingdao) Health Tech Co. Ltd.
• Torque Fitness LLC
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