Fitness Equipment Market to Reach USD 18.4 Billion By 2033, Top Impacting Factors

Allied Market Research published a report, titled, "Fitness Equipment Market by Type (Cardiovascular Training Equipment, Strength Training Equipment, and Others), End User (Health Clubs/Gyms, Hospitality, Residential, and Leisure, Health, Corporate, Public, and Home Consumer), and Price Point (Premium/Luxury and Mass): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, The global fitness equipment market was valued at $11.0 billion in 2017, and is projected to reach $18.4 billion by 2033, growing at a CAGR of 3.02% from 2024 to 2033.

Prime determinants of growth

The fitness industry has witnessed a significant transformation with the rise of the Internet of Things (IoT), leading to the evolution of conventional fitness equipment into intelligent counterparts. Through IoT-enabled fitness equipment, workout metrics such as reps, weights lifted, and duration are seamlessly captured and transmitted in real time. This data is then integrated into individual user profiles, offering valuable insights into workout performance and progress.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/644

A corporate wellness program is a structured initiative established by a company to promote and facilitate employee physical activity and general well-being. By integrating physical activity into the workplace environment, these programs make it convenient for employees to participate in gym sessions, exercise classes, or other wellness activities. Highlighting the fact that approximately 90% of large U.S. companies have adopted workplace wellness programs, which highlights the growing awareness and emphasis on employee health in the corporate world.

The primary goal of corporate fitness programs is to prevent the harmful effects of sedentary work habits and cultivate a healthier, more active workforce. Typically, these programs offer access to fitness facilities, exercise classes, and wellness activities focused on health and fitness. Through these initiatives, corporate fitness programs foster a culture of well-being within the organization that leads to an increased demand for fitness equipment in workplace gyms and wellness facilities, driving growth in the commercial fitness equipment segment.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (294 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬): https://www.alliedmarketresearch.com/checkout-final/8f9364d8ed3b4134d2bd3ba8ce482eea

Home consumers segment to retain its dominance by 2033

By end user, the home consumer segment held the major share of the market in 2023, accounting for more than four-fifths of the global fitness equipment market and is estimated to maintain its leadership status throughout the forecast period. The adoption of fitness equipment is expected to increase among the population. Sedentary lifestyles and hectic schedules have led to the adoption of in-home fitness equipment. Exercising at home using fitness equipment saves gym membership expenses.

North America to maintain its dominance by 2033

By region, North America held the highest market share in terms of revenue in 2023, accounting for two-fifths of the global fitness equipment market. North America is the largest market for fitness equipment across the globe. A larger base of obese population in the region leads to higher adoption of fitness equipment. Obesity has long-term negative effects on health including but not limited to heart disease, stroke, type 2 diabetes, high blood pressure, cancer, and other bone & joint diseases. The Centers for Disease Control and Prevention (CDC) reports that the prevalence of obesity among adults in the U.S. was 41.9% in 2020, highlighting the need for accessible and convenient fitness solutions.

The LAMEA region holds greater potential in terms of growth over the next few years. Brazil and South Africa drive the growth of the fitness equipment market in the LAMEA region. Brazil is the market leader in the fitness equipment market among Latin American countries. Health clubs contribute significantly to the growth of the fitness equipment market in Brazil. A larger base of the youth population, a rise in per-capita income, and increase in health consciousness are expected to propel the demand for fitness equipment.

𝐖𝐚𝐧𝐭 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚 𝐚𝐧𝐝 𝐆𝐫𝐚𝐩𝐡𝐬, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬' 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: https://www.alliedmarketresearch.com/purchase-enquiry/644

Leading Market Players
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.
Torque Fitness, LLC.

𝐊𝐧𝐨𝐰 𝐌𝐨𝐫𝐞 https://www.prnewswire.com/news-releases/fitness-equipment-market-to-reach-18-4-billion-globally-by-2033-at-3-02-cagr-allied-market-research-302151322.html

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