Global Fitness Equipment Market Is Expected to Reach $15.4 Billion by 2028: Says AMR

Rise in awareness regarding health & fitness and increase in obese population drive the growth of the global fitness equipment market. By type, the cardiovascular training equipment segment contributed to the major share in 2020. By region, Asia-Pacific would cite the fastest CAGR by 2028.


Portland, OR, Feb. 17, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global fitness equipment market was estimated at $13.2 billion in 2020 and is expected to hit $15.4 billion by 2028, registering a CAGR of 0.3% from 2021 to 2028. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

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Report coverage & details:

Forecast Period2021–2028
Base Year2020
Market Size in 2021$13.2 Billion
Market Size in 2031$15.4 Billion
CAGR0.3%
No. of Pages in Report1130
Segments CoveredType, End-user, Price Point, and Region.
Drivers Rise in awareness regarding health & fitness
Increase in the obese population
RestraintsCounterfeiting of fitness equipment
High cost associated with certain equipment
OpportunitiesSeveral government initiatives to promote healthy lifestyle

Covid-19 scenario-

  • Increasing concerns among consumers related to Covid-19 have shifted individual preferences toward home fitness equipment across the world, which positively impacted the global fitness equipment market altogether.
  • The home user segment accounted for around 60% share of the global fitness equipment market in 2020. This trend has continued post-pandemic as well.

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The global fitness equipment market is analyzed across type, end-user, price point,  and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

By type, the cardiovascular training equipment segment contributed to around three-fifths of the global fitness equipment market share in 2020, and is projected to rule the roost by 2028. The others segment, on the other hand, would display the fastest CAGR of 0.9% throughout the forecast period.

By end-user, the home consumer segment accounted for the highest share in 2020, generating around three-fifths of the global fitness equipment market revenue. The health, corporate, and public segment, however, would portray the fastest CAGR of 6.3% during the forecast period. The health clubs/gyms and hospitality, residential, and leisure segments are also analyzed in the report.

By price point, the mass segment garnered the highest share in 2020, generating around three-fifths of the global fitness equipment market revenue. The same segment would also manifest the fastest CAGR of 2.0% from 2021 to 2028.

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By region, North America held the major share in 2020, garnering more than two-fifths of the global fitness equipment market revenue. The Asia-Pacific region, simultaneously, would showcase the fastest CAGR of 5.7% from 2021 to 2028. The other provinces studied through the report include  Europe and LAMEA.

The key market players analyzed in the global fitness equipment market report include  Brunswick Corporation, Johnson Health Tech Co., Ltd., Amer Sports Corporation, Nautilus, Inc., Core Health and Fitness, LLC, ICON Health & Fitness, Inc., Torque Fitness, LLC. , TRUE Fitness Technology, Inc., Technogym S.p.A, and Impulse (Qingdao) Health Tech Co., Ltd. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players. 

Similar Reports We Have on Consumer Goods Industry: 

Outdoor Fitness Equipment Market is projected to reach $1.8 billion by 2030 

https://www.alliedmarketresearch.com/outdoor-fitness-equipment-market-A16177 

Ergometer Market is estimated to reach $2,302.9 million by 2030
https://www.alliedmarketresearch.com/ergometer-market-A12489 

Refurbished Fitness Equipment Market is projected to reach $1.9 billion by 2031 
https://www.alliedmarketresearch.com/refurbished-fitness-equipment-market-A31591 

Lateral Fitness Equipment Market is estimated to reach $10.7 billion by 2027 
https://www.alliedmarketresearch.com/lateral-fitness-equipment-market-A06181 

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