Fitness Equipment Market is estimated to hit USD 17.3 billion in 2029, increasing at 5.6% CAGR during 2022-2029 | Size, Share & Trends

Fitness Equipment Market

Fitness Equipment Market was valued at USD 11.2 billion in 2021, and estimated to reach USD 17.3 billion in 2029, growing at a CAGR of 5.6% from 2022-2029.

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The factors driving the growth of Fitness Equipment Market includes rising consumers inclination towards adopting healthy lifestyles, growing popularity of online fitness classes and increase in the number of fitness centers around the world. According to the report published by Bloomberg, the Global Online Fitness Market was calculated around USD 6,046 million in 2019 and is expected to reach USD 59,231 million by the end of 2027, expanding at a CAGR of 33.1% over the forecast period (2020-2027), which will boost the Fitness Equipment Market share in the coming years. Moreover, rise in the launch of innovative products, increase in the geriatric population, growing emphasis by manufacturers on improving customer's experience, development of wearable gadgets and easy availability of fitness equipment at the online platforms, are some of the additional factors supplementing the Global Fitness Equipment Market. In addition, the increasing investments by leading players on research and development, and growing prevalence of cardiovascular diseases and obesity, rapid urbanization improvements in the living standards and rising disposable incomes, are further propelling the Fitness Equipment Market size.

However, the growth of Fitness Equipment Market is hindered attributed to high cost of fitness equipment.

The prominent players operating in the market are TECHNOGYM S.p.A., Torque, ICON Health & Fitness, Inc., Amer Sports, Cybex International Inc., Johnson Health Tech, Core Health and Fitness, LLC, Nautilus Inc., Paramount, and TRUE, among others.

Based on Device, the Strength Training segment is predicted to expand at a remarkable CAGR during the forecast period

As per the Fitness Equipment Market Research, Strength training kits helps in maintaining muscle mass, enhances the bone density and reduces the symptoms of arthritis, are some of the factors responsible for the growth of the segment.

Based on End-use, the home segment is projected to capture the largest market share over the forecast period

Growing demand for home fitness equipment and rising awareness amongst consumers about maintaining health, are prolong the segment's growth.

Based on Region, the North American region is anticipated to hold the highest market share during the forecast period

Rise in the overweight population in the United States, increase in the number of gymnasiums, growing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North America. 

Market Segmentation

Segmentation by Device

Cardiovascular Training
Strength Training
Others

Segmentation by End-use

Home
Health Clubs
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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This release was published on openPR.