USD 15.6 billion
Fitness Equipment Market Size, Share, and Growth Analysis
Fitness Equipment Market By Product Type (Strength Training Equipments, Cardiovascular Training Equipments), By Gender (Male, Female), By Buyer Type (Individual, Institution), By Type, By Distribution Channel, By Application, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG25A2194 |
Region:
Global |
Published Date: April, 2024
Pages:
223
|Tables:
100
|Figures:
70
Format -
Fitness Equipment Market Insights
Fitness Equipment Market size was valued at USD 15.6 billion in 2023 and is poised to grow from USD 16.22 billion in 2024 to USD 22.2 billion by 2032, growing at a CAGR of 4.0% during the forecast period (2025-2032).
Global fitness equipment industry is expected to witness significant growth due to rising health and fitness awareness and shift toward home fitness solutions. More consumers are focusing on fitness and weight management and adopting an active lifestyle, which is positively impacting the sales of fitness equipment. The growing obesity and lifestyle disease rates especially in developed regions are further driving consumers towards gyms and home fitness regimes using equipment. North America dominates the market led by the U.S. However, Asia Pacific region is projected to be the fastest growing market due to rising health consciousness in nations like China and India. The young population in Asia is increasingly taking interest in various fitness activities. The demand is positively influenced by growing disposable incomes and expanding middle class consumers in emerging Asian countries.
On the other hand, factors like expensive equipment prices and limited space in homes pose challenges for the industry. Privacy concerns and preference for outdoor activity is also restraining some consumers from purchasing expensive high-end equipment for home use. However, technology innovations introducing virtual and connected features in equipment are opening new opportunities.
Growing health awareness among people across the globe is a major driver propelling the global fitness equipment market growth. This rising interest in fitness has persuaded equipment manufacturers to innovate and launch a wide variety of technologically advanced products suitable for customers of all ages and needs.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Cardiovascular Training Equipment
Fastest Growth
Strength Training Equipment
Growth Rate
4.0% CAGR
Global Fitness Equipment Market ($ Bn)
Country Share for North America Region (%)
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Fitness Equipment Market Segments Analysis
Global Fitness Equipment Market is segmented by Product Type, Gender, Buyer Type, Type, Distribution Channel, Application, End User and region. Based on Product Type, the market is segmented into Strength Training Equipments, Cardiovascular Training Equipments, Body Composition Analyzers, Fitness Monitoring Equipment and Others. Based on Gender, the market is segmented into Male and Female. Based on Buyer Type, the market is segmented into Individual, Institution, Others, Usage, Residential and Commercial. Based on Type, the market is segmented into Outdoor and Indoor. Based on Distribution Channel, the market is segmented into Retail Stores, Specialty & Sports Shops, Department & Discount Stores, Online and Others. Based on Application, the market is segmented into Weight Loss, Body Building, Physical Fitness, Mental Fitness and Others. Based on End User, the market is segmented into Health Clubs/Gyms, Home Consumers, Hotels, Corporates, Hospitals & Medical Centers, Public Institutions and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by End User
As per global fitness equipment market outlook, the home consumer segment dominating the market in 2024 accounting for over 51% share of the global revenue. Home gym equipment consumers are experiencing rapid growth, driven by several key trends, such as the rise of connected home devices, and increasing focus on health and wellness. Moreover, online fitness platforms have become popular, offering various workouts and fostering connections among fitness enthusiasts. IoT-enabled fitness equipment is in demand as it enables tracking and motivation. Functional fitness, focusing on exercises for everyday tasks, is gaining traction for overall health improvement. In addition, the market sees a rise in demand for space-saving equipment, catering to individuals in small spaces seeking compact and easy-to-store fitness options.
As per global fitness equipment market analysis, the fitness centers/gyms segment is estimated to grow significantly during the forecast period. The others segment includes corporate wellness programs, hotels & resorts, rehabilitation centers, educational institutions, military/law enforcement, and senior living communities, all aimed at promoting health and well-being. From corporate wellness programs and hotels to rehabilitation centers and educational institutions, fitness equipment is instrumental in maintaining overall health and fostering a culture of wellness. It caters to the diverse needs of individuals and contributes to their physical fitness, improving their quality of life and overall well-being. For instance, in January 2022, NordicTrack, the Icon Health & Fitness Inc. brand, launched the NordicTrack iSelect Adjustable Dumbbells.
Analysis by Type
As per the global fitness equipment market forecast, the cardiovascular training equipment segment dominated the market in 2024 and accounting for over 55% of the global revenue. The scope of cardiovascular training equipment encompasses a range of machines, including treadmills, stationary cycles, elliptical trainers & others. These machines, along with innovative features and technological advancements, are driving market growth. In addition, the increasing usage of wearable devices and fitness apps has created a demand for cardiovascular training fitness equipment seamlessly integrated with technologies, such as Internet of Things (IoT) devices, cloud computing, and mobile applications.
The strength training equipment segment is estimated to grow significantly during the forecast period. Strength training is a crucial part of a daily fitness routine to build muscle mass and increase overall strength. This type of training focuses on working the muscles through weights or weight machines. Market players are integrating smart strength technology into strength training equipment to track progress and performance, provide feedback on form, personalize workouts, and make the overall experience more engaging. For instance, PRIME Fitness USA offers Smart Strength technology, an innovative way to improve strength training to train a muscle in shortened, medial, or lengthened positions. It is a valuable tool for athletes, fitness enthusiasts, and individuals seeking optimal results from their workout routines.
Global Fitness Equipment Market By Type (%)
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Fitness Equipment Market Regional Insights
North America dominated the market in 2024 and accounted for over 33% share of the revenue owing to the consumers' growing health awareness and increased adoption of a healthy lifestyle that promotes weight management. The high obese or overweight population base in North America drives the demand in this region. In addition, increasing government regulations to promote health consciousness among its citizens has led North America to dominate the industry. The growth of the cardiovascular training equipment segment in the U.S. for home fitness is fueling the overall market expansion. The significant claim of the U.S. population for cardiovascular training equipment, such as stationary bikes, rowers, and treadmills, to maintain their cardio health is expected to propel fitness equipment demand in the country.
Asia Pacific is anticipated to register the fastest CAGR during the forecast period. Developed countries, such as Japan and South Korea, significantly drive market growth in the Asia Pacific region. Markets in countries, such as China and India, are witnessing rapid growth. The rising youth population across these countries drives the adoption of training equipment. In this region, there has been an increase in gym membership due to the adoption of Western culture and the growing desire to improve the overall appearance. The region's overall disposable income increased significantly. Product adoption in the region is anticipated to be accelerated by rapid urbanization in developing economies, a rise in the youth population, and rising per capita disposable income.
Global Fitness Equipment Market By Geography
- Largest
- Fastest
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Fitness Equipment Market Dynamics
Fitness Equipment Market Drivers
Rising Popularity of Indoor Cycling Equipment
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Indoor cycling equipment has increased demand over recent years as more people look for convenient ways to work out from home. Stationary bikes that allow replica indoor cycling classes have surged in popularity. Companies like Peloton introduced commercially successful connected bikes that stream live and on-demand classes directly to users in the comfort of their homes.
Growing Popularity of Connected Gym Equipment and IoT-based Equipment
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As the demand for fitness and health rises alongside the need for convenience, connected gym equipment and IoT-based fitness solutions are experiencing a surge in global popularity. This trend is having a significant impact on the overall fitness equipment market. Many gym members and individual fitness enthusiasts prefer equipment that can track metrics like calories burned, heart rate, repetitions, and others share workouts on social media or sync data with various apps and platforms. This allows users to monitor progress, stay motivated, and engage in virtual fitness challenges.
Fitness Equipment Market Restraints
High Setup Cost of Commercial Gyms
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One of the major factors restraining the growth of the global fitness equipment industry is the high setup costs that are associated with establishing commercial gyms and fitness centers. Setting up a fully functional gym requires substantial capital expenditure on leasing an adequate space, installing necessary fitness equipment, hiring trained staff and specialists, as well as ongoing operational costs such as maintenance and utilities.
Lack of User Knowledge about Equipment Functionality
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Lack of user knowledge about equipment functionality is certainly restraining the growth of the fitness equipment market. When people purchase expensive exercise machines for home use, they expect to be able to operate them easily and get the intended benefits. Many modern fitness machines come with numerous customization options, special features, and settings that are rarely intuitively understandable, especially for beginners.
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Fitness Equipment Market Competitive Landscape
The fitness equipment market is highly competitive, featuring a blend of global players, regional manufacturers, and startups all driving innovation. Companies like Technogym S.p.A., Life Fitness, Peloton Interactive, Inc., and Nautilus, Inc. are at the forefront, offering cutting-edge solutions that enhance exercise experiences and cater to evolving consumer demands. These companies are focused on expanding their product lines, building strategic partnerships and optimizing their digital ecosystems to maintain a competitive edge.
Top Players in Fitness Equipment Market
- Nike, Inc. (United States)
- Peloton Interactive, Inc. (United States)
- BowFlex, Inc. (United States)
- Johnson Health Tech Co., Ltd. (Taiwan)
- Technogym S.p.A. (Italy)
- Nautilus, Inc. (United States)
- Precor Incorporated (United States)
- ICON Health & Fitness, Inc. (United States)
- Amer Sports Corporation (Finland)
- Basic-Fit N.V. (Netherlands)
- Dyaco International Inc. (Taiwan)
- Shuhua Sports Co., Ltd. (China)
- Anta Sports Products Limited (China)
- Adidas AG (Germany)
- Under Armour, Inc. (United States)
- Lululemon Athletica Inc. (Canada)
- Technogym S.p.A. (Italy)
Recent Developments
- In March 2024, PowerMax, a leading brand in the country's fitness equipment industry, continues to gain momentum. With a mission to transform the fitness sector, PowerMax Fitness has become synonymous with excellence, inventive solutions, and customer fulfillment.
- In September 2022, Nautilus, Inc., an innovation leader in home fitness, announced the launch of Bowflex BXT8J treadmill with JRNY adaptive fitness app compatibility at select online and in-store retail partners providing customers with a complete fitness solution at an affordable price point.
- In June 2022, Johnson Health Tech, manufacturing and sale of exercise equipment, acquired the fitness division of Cravatex Brands Limited, Global platform for Retail, Brand Licensing, Distribution & Sourcing company, making it the first fitness equipment company to have a wholly owned subsidiary in India.
Fitness Equipment Key Market Trends
- Shifting Consumer Interest Toward Virtual Workout is a Major Trend: There has been a significant shift in consumer behavior towards virtual workouts, driven by the convenience and accessibility they offer. This factor accelerated the consumer demand for virtual body workout applications, such as Apple Fitness Plus, Peloton, Nike Training Club, and others, in the market. The shift to digital platforms allowed individuals to customize their workout, which drove consumer demand for virtual training sessions and workouts and increased home fitness equipment demand among the U.S. households.
- Incorporation of Smart Features and Connectivity: The integration of smart features and connectivity in fitness equipment is revolutionizing the fitness industry, providing users with a more immersive and interactive experience. By incorporating advanced technologies such as sensors, Bluetooth, Wi-Fi, and even AI-powered algorithms, fitness devices now offer a seamless connection between the equipment and the user’s digital ecosystem. These smart features enable users to track their workout progress in real-time, including metrics such as heart rate and calories burned.
Fitness Equipment Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to SkyQuest analysis, the increasing trend of mergers and acquisitions in the fitness equipment services sector underscores a dynamic market landscape driven by the pursuit for innovation and comprehensive solutions. This evolving market environment reflects a proactive response to changing consumer preferences and a commitment to delivering top-tier fitness solutions. The fitness equipment market experiences a surge in demand driven by the rising popularity of at-home equipment services. As the trend toward home fitness continues to grow, consumers increasingly invest in personalized workout spaces. This has led to an increased need for services such as equipment installation, maintenance, and repairs for at-home fitness setups. Growing health awareness among people across the globe is a major driver propelling the market growth. This rising interest in fitness has persuaded equipment manufacturers to innovate and launch a wide variety of technologically advanced products suitable for customers of all ages and needs. The market offers a diverse portfolio of cardiovascular and strength training machines, free weights, desktop gyms, treadmills, elliptical machines, yoga mats and other flexible workout gear. The growing number of fitness centers/gyms and gyms along with convenient financing/subscription options has further boosted accessibility. One of the key restraints in the fitness equipment market is the high initial investment and ongoing maintenance costs associated with both commercial and home fitness equipment.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 15.6 billion |
| Market size value in 2032 | USD 22.2 billion |
| Growth Rate | 4.0% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Fitness Equipment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Fitness Equipment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Fitness Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fitness Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fitness Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Fitness Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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