The global fitness equipment market is experiencing growth due to increased public awareness of health and fitness, and growth in the number of obese individuals. Based on type, in 2020, the segment of cardiovascular training equipment accounted for the highest market share. Based on region, Asia-Pacific is projected to witness the highest compound annual growth rate during the forecast timeframe.
Wilmington, Delaware, Oct. 20, 2023 (GLOBE NEWSWIRE) — Allied Market Research’s report provided an estimation of the global fitness equipment market value at $13.2 billion in 2020 and is predicted to gain $15.4 billion by 2028, exhibiting a CAGR of 0.3% during the forecast timeframe. The report offers a comprehensive overview of the leading investment pockets, the most successful strategies, the drivers and opportunities, the market size and projections, the competitive analysis, and the market dynamics. This market study is an invaluable resource for the leading players, new market entrants, and stakeholders in strategic planning and strengthening their competitive edge.
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Report Coverage & Details:
|Market Size in 2020
|Market Size in 2028
|No. of Pages in Report
|Type, End-user, Price Point, and Region
|Rise in awareness regarding health & fitness
|Increase in the obese population
|Counterfeiting of fitness equipment
|High cost associated with certain equipment
|Several government initiatives to promote healthy lifestyle
This report provides a comprehensive overview of the global fitness equipment market segmented on the basis of types, price points, end-users, and regions. It is presented in both tabular and graphical form, allowing investors and market participants to gain insight into the most lucrative and rapidly expanding segments.
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Based on type, the cardiovascular training equipment segment held the major share in 2020, accounted for around three-fifths of the global fitness equipment market revenue, and is projected to rule the roost by 2028. Conversely, the others segment would showcase the highest CAGR of 0.9% throughout the forecast period.
The report identifies the home consumer segment as the leading end-user of global fitness equipment market share in 2020, holding around three-fifths. However, the health, corporate, and public segments would cite the highest compound annual growth rate (CAGR) of 6.3% during the forecast period. The report also studied the leisure, health clubs/gyms hospitality, and residential segments.
On the basis of price point, the mass segment held the largest market share in 2020, contributing to around three-fifths of the global fitness equipment market revenue. The same segment would exhibit the fastest CAGR of 2.0% during the forecast timeframe.
Based on region, in 2020, North America accounted for the highest market share, more than two-fifths of the global fitness equipment market revenue. On the other hand, Asia-Pacific would portray the highest compound annual growth rate (CAGR) of 5.7% between 2021 and 2028. The different regions studied through the report include LAMEA and Europe.
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The global fitness equipment market report has identified several prominent players in the industry, including the following: ICON HEALTH & FITNESS, INC., TRUE FITNESS TECHNOLOGY, INC., NAUTILUS, INC., JOHNSON HEALTH TECH. CO., LTD., PELOTON INTERACTIVE INC., ANTA SPORTS PRODUCTS LIMITED, CORE HEALTH & FITNESS, LLC, IMPULSE HEALTH TECHNOLOGY CO., LTD., TORQUE FITNESS, LLC, and TECHNOGYM S.P.A. The industry players have also adopted various tactics, such as collaborations, novel technological advances, expansions, and joint alliances to strengthen their position in the industry. This report provides an overview of the performance and growth of the leading players in the market.
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