Global Fitness Equipment Market Expected to Reach USD 15,026 Million by 2027

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Fitness equipment Market by Type, Application, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 11,090.3 Million in 2019 and is expected to grow at a healthy growth rate of 3.8 % by the year 2027. The home users based fitness equipment market size is projected to upturn in upcoming years motivated by growing health concerns and user’s sedentary lifestyles. Home gyms based segments allow users to opt for cost-effective equipment that match individual health demands. Also, home gym offers users with a professional workout experience, protecting their privacy.

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The global Fitness Equipment market is fragmented based on type, application, and region. On the basis of type, the market has been divided into Cardiovascular Equipment, Strength Training Equipment, Others. Based on application, the market has been bifurcated into Home Consumer, Small Gyms, Office, Others. Based on region, the global fitness equipment market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, Asia Pacific is further segmented into, India, China, South Korea, Australia, Japan, and Rest of Asia Pacific. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa (MEA).

In the year 2020, the Fitness Equipment market is expected to observe slow growth due to the COVID-19 pandemic. The fitness equipment market will witness a dip in the first two quarters of 2020 due to ongoing COVID-19. Numerous government bodies globally have enforced lockdowns, seeing the spread of the virus and unfavorable results. This has led to shutdown of fitness centers and gyms owing to need for maintaining social distancing norms to stop the spread of the virus. This has led to a decline in the demand for fitness equipment from offices and health clubs.

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As per GMR industry analyst Akshata Ahire, The Global Fitness Equipment Market is anticipated to witness significant growth during the forecast period 2021-2027 driven by technological developments, rising high level of health consciousness and rapid rise in the number of gyms and health clubs are expected to drive the market growth during the forecast period.

Key Takeaways from the Study:

• Leading players- Technogym, Johnson Health Tech, Precor, and Cybex International hold the major portion of the market share of the global fitness equipment market in the year 2019.
• Growing competition amongst key players is inspiring them to launch differentiated technology products to withstand the competitive market.
• North America and Europe regional market is predicted to rise significantly during the forecast period driven by high health consciousness and upsurge in health-related concerns amongst the citizens in the region. There is a rapid rise in the number of gyms and health clubs in the U.S Canada, Germany, Sweden, France, and Austria.

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Report Scope:

Target Audience:

• Supply-side: fitness equipment manufacturers, technology integrator and suppliers, primary respondents, and distributors.
• Demand Side: Individuals, fitness centers, gyms, corporates among others
• Regulatory Side: Concerned government authorities, Fitness Industry Regulation, Department of Consumer Protection or Fair Trading, and other regulatory bodies.
• Associations and Industry Bodies: National sports associations, Department of Consumer Protection, Fitness Industry Regulatory Authority, Association of fitness clubs, Regional Gym owner associations, IHRSA, National fitness trade journal, American Council on Exercise (ACE), Association of Fitness Studios (AFS).

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