Fitness Equipment Market Scope
Devices and machines designed for physical exercise and fitness training are commonly known as fitness equipment. It is used in various settings such as gyms, health clubs, homes, and other fitness-related areas. Fitness equipment includes treadmills, elliptical machines, stationary bikes for cardiovascular exercises and weight machines, and free weights for strength training. Additionally, other types of fitness equipment include jump ropes, resistance bands, yoga mats, etc. The fitness equipment market is growing due to increased health awareness, growing demand for home fitness equipment, and technological advancements.
|Unit||Value (USD Million)|
|Key Companies Profiled||iFIT Health & Fitness Inc. (United States), Brunswick Corporation (United States), Johnson Health Tech Co. Ltd. (United States), Technogym S.p.A (Italy), Amer Sports Corporation (Finland), Nautilus, Inc. (United States), Dyaco International Inc. (Taiwan), Peloton Interactive, Inc. (United States), Core Health and Fitness LLC (United States), True Fitness Technology, Inc. (United States), Decathlon S.A. (France), Cybex International (United States), Torque Fitness LLC (United States) and Kettler (GB) limited (United Kingdom)|
The global Fitness Equipment market is highly competitive and consists of some key players. The players are investing in product innovation and technology. Many players are offering connected fitness products that integrate with apps and other digital platforms. In addition, market players are expanding their product offerings to include a wider range of fitness equipment and accessories. These market players are leveraging on strategic collaborative creativities to intensification their market share and escalation their profitability. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Fitness Equipment market throughout the predicted period.
iFIT Health & Fitness Inc. (United States), Brunswick Corporation (United States), Johnson Health Tech Co. Ltd. (United States), Technogym S.p.A (Italy), Amer Sports Corporation (Finland), Nautilus, Inc. (United States), Dyaco International Inc. (Taiwan), Peloton Interactive, Inc. (United States), Core Health and Fitness LLC (United States), True Fitness Technology, Inc. (United States), Decathlon S.A. (France), Cybex International (United States), Torque Fitness LLC (United States) and Kettler (GB) limited (United Kingdom) are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Fitness Equipment market by Type , by Application (Home/Individuals, Health Clubs/Gyms, Commercial Users and Other) and Region with country level break-up.
On the basis of geography, the market of Fitness Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2022.
Market Leaders and their expansionary development strategiesIn August 2021, Johnson Health Tech (JHT) acquired Matrix Fitness South Africa, a company that Johnson Health Tech had previously distributed for. This acquisition allowed Johnson Health Tech to become the first manufacturer of fitness equipment to have a fully-owned subsidiary in Africa. Thus, this strategy aimed to expand company's presence in the African market.
In September 2022, Peloton Interactive, Inc. launched a new fitness equipment Peloton Row. The equipment is designed with innovative software and premium hardware for low-impact, full-body cardio and strength workouts. This launch of Peloton Row adds to the company's portfolio of high-quality fitness equipment and further expands its presence in the home fitness market.
Influencing Trend:Increasing demand for fitness equipment for home and Growing demand more technologically advanced fitness equipment
Market Growth Drivers:Growibg prevalence of chronic diseases and health conditions, Increasing popularity of fitness programs and Rise in disposable income
Challenges:High maintenance cost of fitness equipment
Restraints:High cost of equipment
Opportunities:Growing demand for personalized fitness experiences
Key Target AudienceCardio Fitness Equipment Manufacturers, Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries