Fitness Equipment Market Size, Share, Forecast, & Trends Analysis by Type (Cardio Strength Training ) Distribution Channel (Online, Retailer) Price

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

The fitness equipment market is projected to reach $56.22 billion by 2031 at a CAGR of 4.6% from 2024 to 2031.

After extensive secondary and primary research and an in-depth analysis of the market scenario, the report provides an analysis of key industry drivers, restraints, opportunities, and challenges. The growth of the fitness equipment 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 regular exercise, the rising number of personal trainers/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 restrain market growth.

The growing inclination toward 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 are a challenge in the fitness equipment market. Furthermore, the integration of AI into fitness apps and the increasing sales of rowing machines are prominent trends in the fitness equipment market.

The report offers a competitive landscape based on an extensive assessment of the leading players' product portfolios, geographic presence, and key strategies adopted over the last four years (2020-2024). The key players operating in the fitness equipment market are BowFlex Inc. (U.S.), 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 (U.S.).

Based on type, the fitness equipment market is segmented into cardiovascular training equipment, strength training equipment, and other equipment and accessories. In 2024, the cardiovascular training equipment segment is expected to account for the largest share of 47.2% of the fitness equipment market. Cardiovascular training promotes heart and lung health while also mitigating the risk of obesity, high blood pressure, and diabetes. This segment's large market share can be attributed to the increasing awareness about the benefits of cardiovascular training and the wide availability of cardiovascular training equipment.

Based on price range, 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 segment's large market share.

Based on distribution channel, the fitness equipment market is segmented into online/e-commerce and retail. In 2024, the retail 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 convenient and widespread access to retail stores, along with the installation services provided by these establishments. Additionally, concerns about receiving damaged products from online or e-commerce platforms contribute to the high preference for retail purchases. Fitness equipment is often heavy and bulky, incurring higher shipping costs and posing challenges in assembly. Retail sellers typically offer complementary services, including installation or assembly, through technical experts, further increasing the preference for retail purchases.

Among all 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 access 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.

An in-depth analysis of the geographical scenario in the fitness equipment market provides detailed qualitative and quantitative insights into five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. The fitness equipment market in Asia-Pacific is projected to register the highest growth rate of 5.9% during the forecast period. The growth of this regional market is driven by the rising adoption of home fitness equipment, the proliferation of gyms & fitness centers, the increasing popularity of corporate wellness programs, and the increasing out-of-pocket expenditure on fitness. Furthermore, expansion initiatives by major fitness brands across the region contribute to the market's growth. For instance, in March 2024, Decathlon (France), a leading sports brand, announced plans to increase investments in India, aiming to increase production and retail presence in the country.

Scope of the Report:

Fitness Equipment Market Assessment-by Type

Cardiovascular Training Equipment
Exercise Bikes
Air Bikes
Stationary Cycles
- Elliptical Machines
- Treadmills
Manual Treadmills
Automatic Treadmills
- Rowers
- Treadclimbers
Strength Training Equipment
- Free Weights
- Power Racks
- Dumbbells
Other Equipment & Accessories

Note: Other equipment & accessories include climbers, kettlebells, medicine balls, mini resistance bands, pull-up bars, and weight-lifting benches.

Fitness Equipment Market Assessment-by Price Range

Low Price Range
Medium Price Range
High Price Range

Fitness Equipment Market Assessment-by Distribution Channel

Online/E-commerce
Retail

Fitness Equipment Market Assessment-by End User

Commercial
- Gyms & Fitness Clubs
- Hospitality & Leisure
- Corporate Gyms
- Educational Institutes
Residential
- Apartment Gyms
- Home/Multi-family Residences

Fitness Equipment Market Assessment-by Geography

North America
- U.S.
- Canada
Europe
- Germany
- France
- U.K
- Italy
- Spain
- Netherlands
- Ireland
- Denmark
- Rest of Europe (RoE)
Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific (RoAPAC)
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa

Product Code: MRHC - 1041235

1. Introduction

1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency & Limitations
1.4. Key Stakeholders

2. Research Methodology

2.1. Research Approach
2.2. Data Collection and Validation Process
- 2.2.1. Secondary Research
- 2.2.2. Primary Research/Interviews with Key Opinion Leaders of the Industry
2.3. Market Sizing and Forecasting
- 2.3.1. Market Size Estimation Approach
- 2.3.2. Growth Forecast Approach
- 2.3.3. Market Share Analysis
2.4. Assumptions for the Study

3. Executive Summary

4. Market Insights

4.1. Overview
4.2. Drivers
- 4.2.1. Increasing Prevalence of Obesity and Cardiovascular Diseases
- 4.2.2. Technological Advancements in Fitness Equipment
- 4.2.3. Rising Disposable Incomes
- 4.2.4. Growing Awareness About the Benefits of Exercising Regularly
- 4.2.5. Rising Number of Personal Trainers or Fitness Instructors
- 4.2.6. Proliferation of Fitness Clubs and Gyms
4.3. Restraints
- 4.3.1. Availability of Alternative Fitness Routines
- 4.3.2. Injuries Resulting from the Incorrect Use of Fitness Equipment
4.4. Opportunities
- 4.4.1. Growing Inclination Towards Home-based Workouts Due to Their Convenience & Accessibility
- 4.4.2. Rising Demand for Virtual Training Sessions
4.5. Challenges
- 4.5.1. High Costs of Purchasing and Maintaining Fitness Equipment
4.6. Trends
- 4.6.1. Integration of Artificial Intelligence (AI) With Fitness Apps
- 4.6.2. Increasing Sales of Rowing Machines
4.7. Factor Analysis
4.8. Trends
4.9. Pricing Analysis
4.10. Porter's Five Force Analysis
4.11. Adjacent/Parent Market Analysis

5. Fitness Equipment Market Assessment-by Type

5.1. Overview
5.2. Cardiovascular Training Equipment
- 5.2.1. Exercise Bikes
  - 5.2.1.1. AirBikes
  - 5.2.1.2. Stationary Cycles
- 5.2.2. Elliptical Machines
- 5.2.3. Treadmills
  - 5.2.3.1. Manual Treadmills
  - 5.2.3.2. Automatic Treadmills
- 5.2.4. Rowers
- 5.2.5. Treadclimbers
5.3. Strength Training Equipment
- 5.3.1. Free Weights
- 5.3.2. Power Racks
- 5.3.3. Dumbbells
5.4. Other Equipment and Accessories

6. Fitness Equipment Market Assessment-by Price Range

6.1. Overview
6.2. Low Price Range
6.3. Medium Price Range
6.4. High Price Range

7. Fitness Equipment Market Assessment-by Distributional Channel

7.1. Overview
7.2. Online/E-commerce
7.3. Retail

8. Fitness Equipment Market Assessment-by End User

8.1. Overview
8.2. Commercial
- 8.2.1. Gyms and Fitness Clubs
- 8.2.2. Hospitality and Leisure
- 8.2.3. Corporate Gyms
- 8.2.4. Educational Institutes
8.3. Residential
- 8.3.1. Apartment Gyms
- 8.3.2. Home/Multi-family Residences

9. Fitness Equipment Market Assessment-by Geography

9.1. Overview
9.2. North America
- 9.2.1. U.S.
- 9.2.2. Canada
9.3. Europe
- 9.3.1. Germany
- 9.3.2. France
- 9.3.3. U.K.
- 9.3.4. Italy
- 9.3.5. Spain
- 9.3.6. Denmark
- 9.3.7. Netherlands
- 9.3.8. Ireland
- 9.3.9. Rest of Europe (RoE)
9.4. Asia-Pacific
- 9.4.1. Japan
- 9.4.2. China
- 9.4.3. India
- 9.4.4. South Korea
- 9.4.5. Australia
- 9.4.6. Rest of Asia-Pacific (RoAPAC)
9.5. Latin America
- 9.5.1. Brazil
- 9.5.2. Mexico
- 9.5.3. Rest of Latin America (RoLATAM)
9.6. Middle East & Africa

10. Competition Analysis

10.1. Overview
10.2. Key Growth Strategies
10.3. Competitive Benchmarking
10.4. Competitive Dashboard
- 10.4.1. Industry Leaders
- 10.4.2. Market Differentiators
- 10.4.3. Vanguards
- 10.4.4. Emerging Companies
10.5. Market Share Analysis/Market Ranking, by Key Players (2023)

11. Company Profiles (Company Overview, Financial Overview, Product Portfolio, Strategic Developments, and SWOT Analysis)

11.1. BowFlex Inc.
11.2. Peloton Interactive, Inc.
11.3. Cybex International, Inc.
11.4. Johnson Health Tech. Co., Ltd.
11.5. ControllerTechnogym S.p.A.
11.6. Dyaco International Inc.
11.7. Decathlon SA
11.8. Precor Incorporated
11.9. Hammer Sport AG
11.10. Tonal Systems, Inc.
11.11. HOIST Fitness Systems, Inc.
11.12. NordicTrack

(Note: SWOT Analysis of the Top 5 Companies Will Be Provided)

12. Appendix

12.1. Available Customization
12.2. Related Reports