Fitness Equipment Market 2020 | (Covid19) Impact Analysis | Growth, Revenue, Trends and Forecasts 2027 | ICON Health & Fitness, Inc., Brunswick Corporation, Johnson Health Tech Co., Ltd., Technogym S.p.A, Amer Sports Corporation

The fitness equipment market size was valued at $11.5 billion in 2019, and is expected to reach $15.2 billion by 2027, registering a CAGR of 3.5% from 2020 to 2027. The cardiovascular training equipment segment led in terms of fitness equipment market share in 2019 and is expected to retain its dominance throughout the forecast period.

Fitness equipment is any machine or device required for physical exercise to manage overall weight, improve physical stamina, and develop muscular strength. The demand for fitness equipment has increased globally, due to increase in health awareness. In addition, physical exercise is advised during certain medical treatments. The most commonly used fitness equipment include treadmills, elliptical, stationary bicycles weightlifting machines &strength building machines, and others.Increase in prevalence of obesity and rise in health consciousness have majorly boosted the growth of the global fitness equipment market. Furthermore, surge in number of gym memberships, rise in sale of in-home equipment, upsurge in urban population, and increase in government initiatives to promote healthy life have fueled the adoption of fitness equipment.

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Based on type the global fitness equipmentmarket is segmented into cardiovascular training equipment, strength training equipment, and other equipment.Cardiovascular training equipment segment accounts for the major fitness equipmentmarket shareand is poised to grow with highest CAGR during the analysis period.

Based on end user the global fitness equipment market is studied across home consumer, health club/gym, and other commercial user. Fitness equipment are widely adopted amongst health club/gym however, leading manufacturers in order to cater demand from residential users are heavily investing, promoting and advertising in fitness equipment for homes.

Based on region, the fitness equipment market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America leads in terms of market share however Asia-Pacific region in estimated to grow with highest CAGR during the forecast period.Increase in disposable income and rapid economic growth in the Asia-Pacific region have led to sedentary lifestyles and increased spending on fast foods, leading to unhealthy lifestyles.

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The report focuses on the growth prospects, restraints, and opportunities of the global fitness equipment market. The study provides Porters five forces analysis to understand the impact of various factors such as competitive intensity of competitors, bargaining power of suppliers, threat of substitutes, threat of new entrants, and bargaining power of buyers of the fitness equipment market.

Some of the key players in the fitness equipment market analysis includes 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.

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