Fitness Equipment Market Scope Archives - Decision Market Insights

Fitness equipment encompasses a range of devices or objects utilized for engaging in physical activities aimed at managing body weight, enhancing physical stamina, and developing muscular strength. The global demand for fitness equipment has witnessed significant growth in response to the increasing awareness about health and well-being. Exercise is also recommended in certain medical treatments. Commonly used fitness equipment includes treadmills, elliptical machines, stationary bicycles, weightlifting machines, strength training machines, and various other types of fitness equipment. These tools are commonly employed to support individuals in their pursuit of fitness goals, providing means for cardiovascular workouts, resistance training, and overall physical fitness improvement.

According to SPER market research, ‘Fitness Equipment Market Size- By Equipment, By Product Type, By End User, By Distribution Channel – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Fitness Equipment Market is predicted to reach USD 14.18 billion by 2033 with a CAGR of 0.55%.

The Global Fitness Equipment market is expanding rapidly due to several key factors. Obesity rates are increasing globally, creating a greater need for workout equipment and weight loss programs. Rising disposable incomes in many parts of the world enable more individuals to purchase fitness equipment and gym memberships, driving up demand. In recent years, the exercise equipment business has undergone tremendous technological breakthroughs, resulting in the introduction of new and high-tech equipment. This is causing a surge in demand for new and improved fitness equipment. In recent years, the exercise equipment business has undergone tremendous technological breakthroughs, resulting in the introduction of new and high-tech equipment. This is causing a surge in demand for new and improved fitness equipment.

The global fitness equipment market confronts various constraints, including high equipment costs. Fitness equipment can be expensive, which might limit demand, particularly in underdeveloped nations where individuals may not be able to buy pricey equipment. Fitness equipment can be dangerous if not utilized correctly, raising safety concerns and potential liability issues for equipment makers and club operators. There is growing concern about the environmental impact of fitness equipment production and disposal, as well as the energy usage of gyms and fitness centers. The trend toward online fitness classes and virtual training sessions may reduce demand for traditional fitness equipment, which could have an influence on the industry.

Impact of COVID-19 on Global Fitness Equipment Market

The COVID-19 pandemic benefited the global fitness equipment market. To halt the virus’s spread, the outbreak imposed new regulations and norms, such as social seclusion and lockdowns. As a result, people were forced to stay at home, giving rise to new fads such as at-home fitness. The rising popularity of at-home training fueled the demand for fitness equipment during the epidemic. Because of the increasing emphasis on self-care, fitness, and health as a result of the pandemic, exercise applications and platforms grew significantly. The outbreak has raised public awareness of health issues and inspired people to strengthen their physical and immune systems. Lockdown has resulted in gym closures all around the world, as well as a transformation in fitness culture. Increased awareness of health and fitness is expected to drive the growth of the home Fitness Equipment Market. However, the overall size of the Fitness Equipment Market declined the same year.

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Fitness Equipment Market Key Players:

Geographically, over the forecast period, Asia-Pacific is expected to have the fastest rate of growth in the fitness equipment market. Two reasons that have contributed to the region’s growth include rising obesity rates and the rise of fitness gurus. Additionally, some of the market key players are Acme Fitness Pvt. Ltd., Aerofit, Amer Sports (Precor), Brunswick Corporation, Technogym S.p.a, Torque Fitness LLC, True Fitness Technology Inc., Tunturi New Fitness BV, Others.

Fitness Equipment Market Key Segments Covered

The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.

By Equipment: Based on the Equipment, Global Fitness Equipment Market is segmented as; Cardiovascular Training Equipment (Climbers, Elliptical Machines, Exercise Bikes, Treadmills), Strength Training Equipment (Barbells & Ladders, Extension Machines, Power Racks, Weightlifting, Weights), Others.

By Product Type: Based on the Product Type, Global Fitness Equipment Market is segmented as; Rowing Machines, Stationary Machines, Other Product Types.

By End User: Based on the End User, Global Fitness Equipment is segmented as; Commercial, Corporate Offices, Health Club, Home Care, Hotel, Residential, Others.

By Distribution Channel: Based on the Distribution Channel, Global Fitness Equipment is segmented as; Direst Sales, Indirect Sales, Specialty Sports Shop, Sports Goods Store, Offline Retail Stores, Online Retail Stores.

By Region: This report also provides the data for key regional segments of Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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Fitness Equipment Market Future Outlook

Pipe Threading Machine Market Size- By Type, By Operation, By Size, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

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The fitness equipment market demand has augmented around the globe, owing to an augment in health awareness. Moreover, physical exercise is advised throughout certain medical treatments. The most commonly utilized fitness equipment involves elliptical, treadmills, stationary bicycles weightlifting machines and strength building machines, and many more. The augment in the prevalence of obesity and the increment in health consciousness have majorly helped the growth of the global fitness equipment market. In addition, an increment in the number of gym memberships, an augment in the sale of in-home equipment, an increment in the urban population, and an augment in government initiatives to encourage healthy life to propel the adoption of fitness equipment.

The growth of the fitness equipment market is propelled by foremost aspects such as growing urbanization, the prevalence of obesity and chronic diseases owing to unhealthy lifestyles, and increasing corporate wellness programs and requirements from different industries.

According to the SPER market research, ‘Fitness Equipment Market Size– By Equipment, By Product Type, By End Use, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecasts to 2032’ state that the Fitness Equipment Market is predicted to reach USD 17.53 billion by 2032 with a CAGR of 3.54%.

An augmenting preference for a healthy lifestyle is propelling the fitness equipment market. In addition, augmenting government initiatives in different countries to encourage a healthy lifestyle have played a key role in propelling the market during the last few years. Moreover, the government motivates more individuals to get more active by encouraging participation in physical activities and strengthening links among the community and different sports and fitness organizations. Owing to improved technology and advancement, the market players are introducing new fitness equipment into the market.

A growing sedentary lifestyle is propelling the requirement for fitness equipment around the world. In addition, a growing number of fitness service providers and centers are propelling the growth of the fitness equipment market. Service providers are proposing packages and discounts for weight loss programs to fascinate the maximum number of customers.

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Revenue of the market is predicted to increase with an augment in the client base of these fitness centers. Growth in the prevalence of cardiovascular diseases is also delivering an impetus to the requirement for fitness equipment. An increase in awareness concerning lifestyle-led diseases is compelling individuals to resort to physical workouts, which is predicted to enlarge the fitness equipment market size.

Not only this, the growth of the global home fitness equipment market is being propelled by an augment in expenditure on preventive healthcare, the easiness of using equipment at home, and more awareness about living a healthy lifestyle. The increasing interest in physical exercise, COVID-19 concerned constraints, and greater mental exhaustion as a result of these restrictions are predicted to foster the home fitness segment forward. Also, an increasing number of producers are contributing to the development of apps that enable them to select their trainers for online classes or home visits to match their unique fitness requirements, such as bodybuilding. All these factors are propelling the home fitness industry.