Fitness Equipment Market Size 2023-2030: ICON Health & Fitness, Life Fitness, Peloton, Technogym, Precor, Nautilus

Delvens published an exclusive report, titled, "Fitness Equipment Market Size 2023-2030: ICON Health & Fitness, Life Fitness, Peloton, Technogym, Precor, Nautilus". Fitness Equipment Market by Product Type (Cardiovascular Training Equipment, Strength Training Equipment, and Others), End User (Home/Residential, Commercial, and Institutional), Distribution Channel, and Region (North America, Europe, Asia-Pacific, Middle East and Africa, and South America).

The global Fitness Equipment Market size is projected to reach a CAGR of 7.0% from 2023-2030.

Click Here For a Free Sample + Related Graphs of the Report at: https://www.delvens.com/get-free-sample/fitness-equipment-market-trends-forecast-till-2030

Fitness Equipment Market Competitive Landscape:

ICON Health & Fitness
Life Fitness
Peloton
Technogym
Precor
Nautilus
Johnson Health Tech
Dyaco
Impulse
Shuhua Sports

In 2021, Nautilus launched its connected Bowflex Max Trainer M9 machine and Bowflex T22 treadmill with an enhanced JRNY digital fitness platform, offering curated workouts and entertainment options that stream while being coached.

In 2021, Johnson Health Tech (JHT) announced its acquisition of Matrix Fitness South Africa, a distributor for JHT before the acquisition, becoming the first fitness equipment company to have a wholly-owned subsidiary in Africa.

Home exercise/fitness equipment is any apparatus or device used during physical activity to enhance the strength or conditioning effects on the body. Fitness equipment mainly consists of weightlifting machines, treadmills, stationary bikes, and others for physical exercise and is specifically used in fitness clubs, homes, hotels, gyms, and corporate offices. Such equipment help maintains weight, reduce excessive fat, and boost stamina.

Growth of the Fitness Equipment Market is due to various factors such as increasing sedentary lifestyle is driving the demand for fitness equipment across the world. Also, rising number of fitness service providers and centers. Furthermore, growth in the prevalence of cardiovascular diseases is also providing an impetus to the demand for fitness equipment.

On the other hand, a lot of people are inclined toward exercises such as dancing, aerobics, Pilates, and yoga, which require minimal use of fitness equipment. This has made fitness clubs buy less equipment and provide more & more open spaces. This is further expected to hinder the growth of the global fitness equipment market. There is difficulty in procuring parts/components utilized for fitness equipment such as heart rate grips, LED consoles, handlebars, tension knobs, motors, and so on, and most of these are complex to repair. This results in the replacement of the whole unit, increasing overall maintenance costs. This factor is estimated to restrain the growth of the fitness equipment market in the near future.

The COVID-19 pandemic has wreaked havoc across the world. GDP growth worldwide was already not great, and this outbreak has further worsened the situation. Restrictions on trade, export, and manufacturing activities have led to supply chain disruptions. Besides, with the shutting down of non-essential facilities across the world to contain the virus spread, gymnasiums, and health clubs have been badly affected, leading to sluggish growth of the fitness equipment market. As lockdowns slowly ease across the world, market growth is expected to pick pace.

Regional Analysis

North America to Dominate the Market

The North American market witnessed significant growth due to the rising health awareness among consumers, with the growing adoption of exercises related to physical well-being, weight management, improving body stamina, and muscular strength. The rising obese population and increasing health concerns are other major factors driving the home fitness equipment market in the region.

The rising preventive healthcare measures and the augmenting healthcare costs are enabling consumers to engage in regular workouts to remain fit. Additionally, with the growing demand, manufacturers operating in the global market are expanding their presence to achieve a competitive advantage in the market. Moreover, due to the consumer's growing interest in in-home workouts, the demand for such home equipment is growing, which is also driving the global home equipment market simultaneously.

Inquire Before Buying: https://www.delvens.com/Inquire-before-buying/fitness-equipment-market-trends-forecast-till-2030

Fitness Equipment Market Key Findings

The product type segment is further fragmented into Cardiovascular training equipment, Strength training equipment, and other equipment. The cardiovascular training equipment segment is expected to hold the largest market share in the coming years, driven by the increasing demand for treadmills, stationary bikes, and ellipticals. The segment is expected to grow at a CAGR of 3.3% from 2023 to 2030. The strength training equipment segment is also expected to witness significant growth, fuelled by the growing trend of strength training and bodybuilding. The segment is projected to grow at a CAGR of 2.2% from 2023 to 2030.

The End-User segment is further fragmented into home/residential, commercial, and institutional. The home/residential segment is expected to hold the largest market share in the coming years, driven by the increasing demand for home gym equipment due to the COVID-19 pandemic. The segment is expected to grow at a CAGR of 3.3% from 2023 to 2030. The commercial and institutional segments are also expected to witness significant growth, driven by the increasing number of fitness centers, gyms, and hospitals.

The Distribution Channel segment is further fragmented into online and offline. The online segment is expected to hold the largest market share in the coming years, driven by the increasing trend of e-commerce and the convenience it offers to consumers. The segment is expected to grow at a CAGR of 3.6% from 2023 to 2030. The offline segment is also expected to witness significant growth, driven by the increasing number of specialty stores and department stores.

The Region segment is further fragmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. North America is expected to hold the largest market share in the coming years, driven by the increasing health consciousness among the population and the availability of advanced fitness equipment. The region is expected to grow at a CAGR of 2.6% from 2023 to 2030. Europe and the Asia Pacific are also expected to witness significant growth, driven by the increasing adoption of fitness and wellness activities.

Delvens Industry Expert's Standpoint

The market for fitness equipment is a quickly expanding sector of the economy that provides a wide range of goods intended to support physical fitness and exercise. The market is driven by the rising trend of exercise and wellness activities, the rising trend of public health consciousness, and the rising demand for home gym equipment as a result of the COVID-19 epidemic. In order to better understand market dynamics and consumer behaviour, the market is categorized based on product type, end-user, distribution channel, and geography. The home/residential end-user sector, the online distribution channel segment, and the cardiovascular training equipment segment are predicted to have the biggest market shares. Overall, the fitness equipment market is anticipated to develop steadily over the next few years, offering several chances for manufacturers and distributors to increase their operations and meet changing customer expectations.

Direct Purchase of Fitness Equipment Market Research Report at: https://www.delvens.com/checkout/fitness-equipment-market-trends-forecast-till-2030

Contact Us:

UNIT NO. 2126, TOWER B,
21ST FLOOR ALPHATHUM
SECTOR 90 NOIDA 201305, IN
+44-20-8638-5055
SALES@DELVENS.COM
WEBSITE: https://delvens.com/

About Us:

Delvens is a strategic advisory and consulting company headquartered in New Delhi, India. The company holds expertise in providing syndicated research reports, customized research reports and consulting services. Delvens qualitative and quantitative data is highly utilized by each level from niche to major markets, serving more than 1K prominent companies by assuring to provide the information on country, regional and global business environment. We have a database for more than 45 industries in more than 115+ major countries globally.

Delvens database assists the clients by providing in-depth information in crucial business decisions. Delvens offers significant facts and figures across various industries namely Healthcare, IT & Telecom, Chemicals & Materials, Semiconductor & Electronics, Energy, Pharmaceutical, Consumer Goods & Services, Food & Beverages. Our company provides an exhaustive and comprehensive understanding of the business environment.

This release was published on openPR.