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Fitness Equipment Market Report

RA04973

Fitness Equipment Market by Type (Cardiovascular Training Equipment, Strength Training Equipment, and Others), User (Home Consumer, Health Clubs/Gyms, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027

RA04973

Pages: 181

May 2021

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Fitness Equipment Market

Fitness Equipment Market Analysis

The global fitness equipment market is predicted to garner $15,576.5 million in the 20202027 timeframe, growing from $11,364.2 million in 2019 at a healthy CAGR of 4.0%.

Market Synopsis

Product launches, partnership among market players and new product innovations to attract new customers and to enhance the geographical presence of fitness equipment manufacturers, is anticipated to drive the growth of the fitness equipment market.

However, the high cost of fitness equipment is a growth restraining factor. To reduce the cost, people prefer reused fitness equipment. Also, new gyms and fitness clubs prefer the use of resale products for cost reduction.

According to the regional analysis of the market, the Asia-Pacific fitness equipment market is anticipated to grow at a CAGR of 7.1% by generating a revenue of $3,903.5 million during the review period.

Fitness Equipment Overview

Fitness equipment is any device or machine used during physical exercise to maintain weight, good health, and enhance the muscle strength. Some of the examples of fitness equipment’s are treadmills, free weights, elliptical trainers, rowers, and others. 

Impact Analysis of COVID-19 on the Global Fitness Equipment Market

The novel coronavirus pandemic has a devastating effect on several industries; however, the fitness equipment market experienced a positive impact due to increase in demand for home fitness equipment such as free weights, treadmills, exercise bikes, and others. As gyms and fitness centers were closed due to the lockdown rules imposed across various countries, people were relying more on home exercises to avoid the spread of COVID-19.  Also, many new technologies were adopted during the pandemic to make home workout sessions more engaging. For instance, the personal trainers started sharing their at-home workout videos, many fitness challenges were shared across social media, the video conferencing platform Zoom was used by the trainers to monitor the exercise as well to perform group exercises and to reach out to large number of people. All these aspects have created a positive impact on the fitness equipment market.

Several companies with their technological advancements, investments and collaborations, are helping the society to recover from the chaotic situation that COVID-19 has brought with itself. For instance, Hammer Strength, rugged performance strength equipment manufacturer, and BeaverFit, a leading outdoor portable training solution, collaborated on June 22, 2020. This collaboration aimed to make outdoor workouts increasingly popular during COVID-19 as many people are focusing on multi-use and outdoor solutions to offer functional group training options to the exercisers.

Increase in Obese Population to Drive the Market Growth

The global fitness equipment industry is witnessing a rapid growth mainly due to increase in obese population across the world. The prevalence of obese and overweight population has increased rapidly across the world, which increases the risk of cardiovascular diseases, diabetes, hypertension, and other health issues. For instance, as stated by World Health Organization (WHO) on April 1, 2020, the world obesity rate has tripled since 1975. In 2016, more than 1.9 billion above 18 years old were overweight and 650 of these people were obese. As obesity increases the risk of cardiovascular, musculoskeletal disorders, and some cancers, maintaining healthy weight has become important. To address this issue, WHO, in 2018 launched, “Global action plan on physical activity 2018-2030”. This plan aims to make people more active for a healthier world. Further, this initiative provides effective and feasible solutions to increase physical activity globally. Such initiatives that ensure weight management among overweight and obese population are predicted to drive the market growth during the forecast period.

To know more about global fitness equipment market drivers, get in touch with our analysts here.

High Cost of Fitness Equipment is a Market Restraint

The high cost involved of fitness equipment such as treadmills, ellipticals, stationary cycles is a major growth restraint for the market. It is quite expensive for even home gym setup that involves free weights, rowing machine, and many more. Such factors are estimated to limit the market growth during the review period.

Growing Gyms & Fitness Centers to Create Massive Investment Opportunities

The number of health and fitness clubs is increasing rapidly as they provide customers with proper infrastructure that is necessary for workouts and educated trainer support. This growth is majorly due to increase in awareness and rising importance of good health among the people. Further, product innovations and company investments are estimated to drive the fitness equipment market growth. For instance, on October 5, 2020, ICON Health & Fitness, a leading connected fitness equipment company, announced a $200 million growth investment led by L Catterton. L Catterton, which is the largest consumer-focused private equity firm. ICON is the only company that offers connected fitness experience which is the latest trend in fitness equipment market. This investment will lead to growth in expansive range of interactive fitness equipment products launched by iFit. Hence, such fitness equipment initiatives that drives innovation and helps people in achieving their fitness goals is estimated to accelerate the growth of fitness equipment market.

To know more about global fitness equipment market opportunities, get in touch with our analysts here.

Global Fitness Equipment Market, by Type

Based on type, the market has been divided into cardiovascular training equipment, strength training equipment, and others sub-segments, of which cardiovascular training equipment is predicted to show the fastest growth and have the most dominant market share.

Global Fitness Equipment Market, by Type

Source: Research Dive Analysis

The cardiovascular training equipment type is predicted to have a dominating market share in the global market and is expected to register a revenue of $9,713.4 million during the forecast period. The cardiovascular training equipment includes treadmills, stationary bicycles, and others. The cardiovascular training equipment sub-segment attributed for the highest growth owing to its excessive fat burning properties. Also, cardiovascular training equipment are suitable for all the age groups. This training increases endurance, reduces body weight, controls blood pressure, help in reducing bad cholesterol, and increases insulin sensitivity. Such benefits of cardiovascular training equipment are predicted to drive the growth of this sub-segment during the review period.

The strength training equipment type is anticipated to have the second most significant growth and this sub-segment is estimated to generate a revenue of $4,955.6 million by 2027, growing from $3,863.6 million in 2019. The strength training equipment’s are used to gain muscular strength, to improve one’s overall appearance by reducing the body fat and increasing the bone density. Some of the strength training equipment are free weights and strength machines. The growth of this sub-segment is majorly attributed to increase in utilization of strength training equipment’s among young and middle-age groups. Also, during the pandemic times the sale of free weights increased rapidly due to increase in home workout sessions. The floor friendly rubber dumbbells and cast-iron dumbbells have gained huge popularity among the home users. All these factors are estimated to have a significant impact on the market growth during the projected period.  

Global Fitness Equipment Market, by User:

Based on user the analysis has been divided into home consumer, health clubs/gyms, and others. Out of these, the home consumer sub-segment is anticipated to garner the significant revenue share in the global market and be the fastest growing sub-segment.

Global Fitness Equipment Market, by User

Source: Research Dive Analysis

The home consumer sub-segment of the global fitness equipment is anticipated to have rapid growth and surpass $7,237.5 million by 2027, with an increase from $5,074.4 million in 2019. The prolonged work hours, sedentary lifestyle have led to the adoption of home fitness as exercising at home offers time flexibility, saves gym membership charges, and commutation charges. The new product launch that is the best-fit for home exercise is estimated to drive the market growth. For instance, the F3 folding treadmill launched by Life Fitness, is equipped with high quality components to ensure home equipment sustain years of heavy use. Additionally, this treadmill can be folded, locked, and rolled to the storage area without occupying much space. All these factors are estimated to drive the growth of home consumer sub-segment during the forecast period.

 The health clubs/gyms sub-segment is predicted to have the second leading market share in the global market and is expected to register a revenue of $5,655.9 million during the analysis timeframe owing to increase in the number of health clubs and gyms globally. Health clubs and gyms are quite beneficial as they offer both cardiovascular and strength training equipment’s. Also, many people find it harder to do home workout as cultivating self-discipline with proper workout schedule is difficult to do at home. The health clubs/gyms provide a motivating environment as they are full of people, trainers are there to train the people and guide them to reach their fitness goals. All these aspects are estimated to drive the market growth during the forecast period.

Global Fitness Equipment Market, Regional Insights:

The fitness equipment market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Global Fitness Equipment Market, Regional Insights

Source: Research Dive Analysis

The Market for Fitness Equipment in North America to be the Most Dominant

The North America fitness equipment market accounted $4,400.2 million in 2019 and is projected to register a revenue of $5,411.3 million by 2027. The large base of obese population leading to higher adoption of fitness equipment are driving the growth of fitness equipment market. Obesity has long-term negative impact on health that leads to deadly diseases such as heart disease, diabetes, high blood pressure, and cancer. As stated in U.S. News, a media company, on September 19, 2019, the medical cost associated with obesity in the U.S. was $1,47,000 million in 2008. Such increase in the obesity rates and associated medical cost is driving the fitness equipment market growth during the forecast period.

The Market for Fitness equipment in Asia-Pacific to be the Fastest Growing

The share of Asia-Pacific fitness equipment market is anticipated to grow at a CAGR of 7.1% by registering a revenue of $3,903.5 million by 2027. The growth is majorly owing to increase in the young population, rising disposable income, and rapid urbanization. The rapid urbanization is increasing the stress on the population due to prolonged work hours, sedentary lifestyle, and unhealthy eating habits. Thus, to maintain healthy weight and to stay away from obesity-related diseases people have adopted the home fitness programs while others have joined gyms/health clubs. However, the people in Asia-Pacific countries are more attracted towards athletic, resistance training, modernized gym equipment, and new cardio equipment’s such as elliptical, rowers. In addition, the top fitness equipment manufacturers such as Impulse Group, Ironman, Shua Sports Co. Ltd, Shanxi Orient Fitness & Health Industrial Co., Ltd, and others are present in China. All these aspects are predicted to drive the market growth, that will boost the Asia-Pacific fitness equipment market in the upcoming years.   

Competitive Scenario in the Global Fitness Equipment Market

Product launches and partnerships are common strategies followed by major market players.

Competitive Scenario in the Global Fitness Equipment Market

Source: Research Dive Analysis

Some of the leading fitness equipment market players are ICON Health & Fitness, Inc., Johnson Health Tech Co., Ltd., Technogym SPA, Amer Sports Corporation, Nautilus, Inc., Core Health & Fitness, LLC, TRUE Fitness Technology, Inc., Torque Fitness LLC, Impulse (Qingdao) Health Technology Co., Ltd., Cybex International, Inc.

Porter’s Five Forces Analysis for the Global Fitness Equipment Market:

  • Bargaining Power of Suppliers: The suppliers in the fitness equipment market are moderate in number. Several companies are working on product designs and innovations that use different raw materials to avoid changing the supplier if the there is a hike in the price of a particular material.
    Thus, the bargaining power suppliers is moderate. 
     
  • Bargaining Power of Buyers: Buyers have low bargaining power; as number of buyers are low, the number of suppliers are moderate. As buyers have less power as fitness equipment is governed by various factors such as product design and cost of equipment’s involved.
    Thus, the bargaining power of the buyers is low.
  • Threat of New Entrants: The companies entering fitness equipment market are adopting product launch and innovations to attract clients. Companies entering the fitness equipment testing market are adopting technological innovations such as providing Bluetooth connectivity, wearable device support, and others. Also, these companies are implementing various effective strategies such as offering discounts and value propositions. 
    Thus, the threat of the new entrants is moderate.
  • Threat of Substitutes: High investment cost is involved in fitness equipment market owing to the quality of materials, durability, and cost of raw materials involved. 
    Thus, the threat of substitutes is low.
  • Competitive Rivalry in the Market: The competitive rivalry among industry leaders is moderate. The existing players are focusing more on product advancements, partnerships, and product launch to enhance their market presence.   
    Therefore, competitive rivalry in the market is moderate. 

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2019

  Forecast Timeline for Market Projection

  2020-2027

  Geographical Scope

 North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Type

  • Cardiovascular Training Equipment
  • Strength Training Equipment
  • Others

  Segmentation by User

  • Home Consumer
  • Health Clubs/Gyms
  • Others

  Key Companies Profiled

  • ICON Health & Fitness, Inc.
  • Johnson Health Tech Co., Ltd.
  • Technogym SPA
  • Amer Sports Corporation
  • Nautilus, Inc.
  • Core Health & Fitness, LLC
  • TRUE Fitness Technology, Inc.
  • Torque Fitness LLC
  • Impulse (Qingdao) Health Technology Co., Ltd.
  • Cybex International, Inc.

Frequently Asked Questions
 

A. The size of the global fitness equipment market was over $11,364.2 million in 2019 and is projected to reach $15,576.5 million by 2027.

A. ICON Health & Fitness, Inc., Johnson Health Tech Co., Ltd., Technogym SPA are some of the key players in the global fitness equipment market.

A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. Asia-Pacific fitness equipment market is anticipated to grow at 7.1% CAGR during the forecast period.

A. Product innovations, product launch, and partnerships are the key strategies opted by the operating companies in this market.

A. ICON Health & Fitness, Inc., Johnson Health Tech Co., Ltd., Technogym SPA are investing more on R&D activities for developing new products and technologies.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.By type trends
2.3.By user trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Pricing overview

3.8.1.by type
3.8.2.by user

3.9.Market value chain analysis

3.9.1.Stress point analysis
3.9.2.Raw material analysis
3.9.3.Manufacturing process
3.9.4.Distribution channel analysis
3.9.5.Operating vendors

3.9.5.1.Raw material suppliers
3.9.5.2.Product manufacturers
3.9.5.3.Product distributors

3.10.Strategic overview

4.Fitness Equipment Market, by type

4.1.Cardiovascular Training Equipment

4.1.1.Market size and forecast, by region, 2019-2027
4.1.2.Comparative market share analysis, 2019 & 2027

4.2.Strength Training Equipment

4.2.1.Market size and forecast, by region, 2019-2027
4.2.2.Comparative market share analysis, 2019 & 2027

4.3.Others

4.3.1.Market size and forecast, by region, 2019-2027
4.3.2.Comparative market share analysis, 2019 & 2027

5.Fitness Equipment Market, by user

5.1.Health Consumer

5.1.1.Market size and forecast, by region, 2019-2027
5.1.2.Comparative market share analysis, 2019 & 2027

5.2.Health Clubs/Gyms

5.2.1.Market size and forecast, by region, 2019-2027
5.2.2.Comparative market share analysis, 2019 & 2027

5.3.Others

5.3.1.Market size and forecast, by region, 2019-2027
5.3.2.Comparative market share analysis, 2019 & 2027

6. Fitness Equipment Market, by Region

6.1.North America

6.1.1.Market size and forecast, by type, 2019-2027
6.1.2.Market size and forecast, by user, 2019-2027
6.1.3.Market size and forecast, by country, 2019-2027
6.1.4.Comparative market share analysis, 2019 & 2027

6.1.5.U.S.

6.1.5.1.Market size and forecast, by type, 2019-2027
6.1.5.2.Market size and forecast, by user, 2019-2027
6.1.5.3.Comparative market share analysis, 2019 & 2027

6.1.6.Canada

6.1.6.1.Market size and forecast, by type, 2019-2027
6.1.6.2.Market size and forecast, by user, 2019-2027
6.1.6.3.Comparative market share analysis, 2019 & 2027

6.1.7.Mexico

6.1.7.1.Market size and forecast, by type, 2019-2027
6.1.7.2.Market size and forecast, by user, 2019-2027
6.1.7.3.Comparative market share analysis, 2019 & 2027

6.2.Europe

6.2.1.Market size and forecast, by type, 2019-2027
6.2.2.Market size and forecast, by user, 2019-2027
6.2.3.Market size and forecast, by country, 2019-2027
6.2.4.Comparative market share analysis, 2019 & 2027

6.2.5.Germany 

6.2.5.1.Market size and forecast, by type, 2019-2027
6.2.5.2.Market size and forecast, by user, 2019-2027
6.2.5.3.Comparative market share analysis, 2019 & 2027

6.2.6.UK

6.2.6.1.Market size and forecast, by type, 2019-2027
6.2.6.2.Market size and forecast, by user, 2019-2027
6.2.6.3.Comparative market share analysis, 2019 & 2027

6.2.7.France

6.2.7.1.Market size and forecast, by type, 2019-2027
6.2.7.2.Market size and forecast, by user, 2019-2027
6.2.7.3.Comparative market share analysis, 2019 & 2027

6.2.8.Spain

6.2.8.1.Market size and forecast, by type, 2019-2027
6.2.8.2.Market size and forecast, by user, 2019-2027
6.2.8.3.Comparative market share analysis, 2019 & 2027

6.2.9.Italy 

6.2.9.1.Market size and forecast, by type, 2019-2027
6.2.9.2.Market size and forecast, by user, 2019-2027
6.2.9.3.Comparative market share analysis, 2019 & 2027

6.2.10.Rest of Europe

6.2.10.1.Market size and forecast, by type, 2019-2027
6.2.10.2.Market size and forecast, by user, 2019-2027
6.2.10.3.Comparative market share analysis, 2019 & 2027

6.3.Asia-Pacific

6.3.1.Market size and forecast, by type, 2019-2027
6.3.2.Market size and forecast, by user, 2019-2027
6.3.3.Market size and forecast, by country, 2019-2027
6.3.4.Comparative market share analysis, 2019 & 2027

6.3.5.China

6.3.5.1.Market size and forecast, by type, 2019-2027
6.3.5.2.Market size and forecast, by user, 2019-2027
6.3.5.3.Comparative market share analysis, 2019 & 2027

6.3.6.Japan 

6.3.6.1.Market size and forecast, by type, 2019-2027
6.3.6.2.Market size and forecast, by user, 2019-2027
6.3.6.3.Comparative market share analysis, 2019 & 2027

6.3.7.India 

6.3.7.1.Market size and forecast, by type, 2019-2027
6.3.7.2.Market size and forecast, by user, 2019-2027
6.3.7.3.Comparative market share analysis, 2019 & 2027

6.3.8.Australia 

6.3.8.1.Market size and forecast, by type, 2019-2027
6.3.8.2.Market size and forecast, by user, 2019-2027
6.3.8.3.Comparative market share analysis, 2019 & 2027

6.3.9.South Korea 

6.3.9.1.Market size and forecast, by type, 2019-2027
6.3.9.2.Market size and forecast, by user, 2019-2027
6.3.9.3.Comparative market share analysis, 2019 & 2027

6.3.10.Rest of Asia Pacific

6.3.10.1.Market size and forecast, by type, 2019-2027
6.3.10.2.Market size and forecast, by user, 2019-2027
6.3.10.3.Comparative market share analysis, 2019 & 2027

6.4.LAMEA

6.4.1.Market size and forecast, by type, 2019-2027
6.4.2.Market size and forecast, by user, 2019-2027
6.4.3.Market size and forecast, by country, 2019-2027
6.4.4.Comparative market share analysis, 2019 & 2027

6.4.5.Latin America  

6.4.5.1.Market size and forecast, by type, 2019-2027
6.4.5.2.Market size and forecast, by user, 2019-2027
6.4.5.3.Comparative market share analysis, 2019 & 2027

6.4.6.Middle East 

6.4.6.1.Market size and forecast, by type, 2019-2027
6.4.6.2.Market size and forecast, by user, 2019-2027
6.4.6.3.Comparative market share analysis, 2019 & 2027

6.4.7.Africa

6.4.7.1.Market size and forecast, by type, 2019-2027
6.4.7.2.Market size and forecast, by user, 2019-2027
6.4.7.3.Comparative market share analysis, 2019 & 2027

7.Company profiles

7.1.ICON Health & Fitness, Inc.

7.1.1.Business overview
7.1.2.Financial performance
7.1.3.Product portfolio
7.1.4.Recent strategic moves & developments
7.1.5.SWOT analysis

7.2.Johnson Health Tech Co., Ltd

7.2.1.Business overview
7.2.2.Financial performance
7.2.3.Product portfolio
7.2.4.Recent strategic moves & developments
7.2.5.SWOT analysis

7.3.Technogym SPA

7.3.1.Business overview
7.3.2.Financial performance
7.3.3.Product portfolio
7.3.4.Recent strategic moves & developments
7.3.5.SWOT analysis

7.4.Amer Sports Corporation

7.4.1.Business overview
7.4.2.Financial performance
7.4.3.Product portfolio
7.4.4.Recent strategic moves & developments
7.4.5.SWOT analysis

7.5.Nautilus, Inc. 

7.5.1.Business overview
7.5.2.Financial performance
7.5.3.Product portfolio
7.5.4.Recent strategic moves & developments
7.5.5.SWOT analysis

7.6.Core Health & Fitness, LLC 

7.6.1.Business overview
7.6.2.Financial performance
7.6.3.Product portfolio
7.6.4.Recent strategic moves & developments
7.6.5.SWOT analysis

7.7.TRUE Fitness Technology, Inc. 

7.7.1.Business overview
7.7.2.Financial performance
7.7.3.Product portfolio
7.7.4.Recent strategic moves & developments
7.7.5.SWOT analysis

7.8.Torque Fitness LLC

7.8.1.Business overview
7.8.2.Financial performance
7.8.3.Product portfolio
7.8.4.Recent strategic moves & developments
7.8.5.SWOT analysis

7.9.Impulse (Qingdao) Health Technology Co., Ltd.

7.9.1.Business overview
7.9.2.Financial performance
7.9.3.Product portfolio
7.9.4.Recent strategic moves & developments
7.9.5.SWOT analysis

7.10.Cybex International, Inc. 

7.10.1.Business overview
7.10.2.Financial performance
7.10.3.Product portfolio
7.10.4.Recent strategic moves & developments
7.10.5.SWOT analysis

Fitness equipment is a device or machine used to do physical exercises in order to manage overall weight, develop muscular strength, and improve physical stamina. Weightlifting machines, treadmills, and stationary bikes are the commonly used fitness equipment. The increase in health awareness among people has increased the demand for fitness equipment across the globe. The health club is the largest consumer of fitness equipment and these equipment are also gaining enormous demand from the homecare sector, owing to rise in number of people adopting a healthy lifestyle.

Impact of COVID-19 on the Market

The outbreak of COVID-19 has had a positive impact on the global fitness equipment market. The demand for home fitness equipment such as free weights, exercise bikes, and others has increased during the pandemic as fitness centers & gyms were closed due to imposition of lockdown by various countries across the globe. In addition, technological advancements in fitness equipment during the pandemic period has boosted the global market. For instance, in September 2020, LG Business Solutions USA, entered the fitness equipment business with the launch of a new 15-inch touchscreen display, specifically designed for a variety of exercise equipment in order to meet the needs of modern consumers. Featuring LG’s leading Pro:Centric and Pro:Idiom technologies, the displays can be customized with unique user interfaces and branded content, making them ideal for gyms, multi-unit living facilities, hotels, corporate fitness centers, and schools. Such initiatives taken by companies is driving the growth of the global fitness equipment market during the pandemic.

Key Developments in the Industry

The companies operating in the global industry are adopting various growth strategies and business tactics such as mergers & acquisitions, business expansion, partnerships, and product launches to acquire a leading position in the global market, which is predicted to consequently help the fitness equipment market to grow exponentially in upcoming years.

For instance, in June 2019, Novofit, the leading fitness equipment distributors, and Precor, an Amer Sports brand, entered into a partnership, NovoFit, in order to expand business in the Australian fitness equipment market. The aim behind the partnership is to become Australia’s trusted provider of global fitness brands and to develop personalized health & fitness experiences.

In October 2019, Nautilus Inc., an innovative leader in home fitness for 40 years, launched the first-ever ‘Bowflex C6’ indoor cycling bike, which delivers leading connected fitness user experiences. The users of Bowflex C6 can digitally connect to popular apps, which allows them to ride with their preferred trainers via streaming on-demand classes.

Forecast Analysis of Global Fitness Equipment Market

The global fitness equipment market is anticipated to witness a striking growth over the forecast period, owing to the rise in number of health & fitness clubs due to increase in awareness amongst people about importance of good health. Conversely, the high costs associated with gym setup and fitness equipment such as treadmills, free weights, and elliptical are factors predicted to hamper the market growth in the projected timeframe.

The increase in obese population across the globe along with the growing prevalence of cardiovascular diseases, hypertension, diabetes, and other health disorders are the significant factors estimated to fuel the growth of the global market in the coming future. As per a latest report published by Research Dive, the global fitness equipment market is expected to garner $15,576.5 million during the forecast period (2020-2027). Regionally, the North America region is estimated to hold a dominant position in the global industry, mainly due to growing adoption of weight management practices by people in the region to improve muscular health and stamina. The key players functioning in the global market include ICON Health & Fitness, Inc., Technogym SPA, Johnson Health Tech Co., Ltd., Amer Sports Corporation, Core Health & Fitness, LLC, Nautilus, Inc., TRUE Fitness Technology, Inc., Impulse (Qingdao) Health Technology Co., Ltd., Torque Fitness LLC, and Cybex International, Inc.

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