Fitness Equipment Market to Grow at a CAGR of 3.3% During the Forecast Period 2021-2028 | $14.8 billion

fitness equipment market

Self-care is becoming an essential part of people’s health amid COVID-19, including mental, physical and emotional health

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, USA, Nov. 4, 2022 /EINPresswire.com/ — Fitness Equipment Market by Type and End User: Opportunity Analysis and Industry Forecast, 2021-2028

According to a new report published by Allied Market Research, titled “Fitness Equipment Market by Type and End User: Opportunity Analysis and Industry Forecast 2021-2028”, the fitness equipment market was valued at 11.6 billion in 2020 and is expected to reach $14.8 billion by 2028, registering a CAGR of 3.3% from 2021 to 2028

Fitness equipment is widely used for physical fitness, weight management, and improving body endurance and muscle strength. Commonly used fitness equipment includes treadmills, stationary bikes, stair climbers, and weight lifting machines. Increased health and fitness awareness, increase in obese population, government initiatives to promote healthy lifestyle and increase in youth population are the major factors driving the growth of the size of the global fitness equipment market. However, counterfeit fitness equipment is a key market restraining factor. On the contrary, the resurgence of the young population, the improvement of the lifestyle and the increase in the disposable income of individuals in the developing countries are expected to offer immense opportunities to market players.

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New Opportunities and Growth Drivers
An alarming rise in global obesity, especially in urban areas, complements the growth of the fitness equipment industry. According to the WHO, there has been a surprising increase in the number of obese people around the world. In 2020, 39% of adults aged 18 and over worldwide were overweight and 13% were obese. Obesity is associated with a number of health problems or disorders such as sudden cardiac arrest, hypertension, hypotension, and diabetes. Therefore, to lose weight, reduce stress and improve blood circulation, obese people tend to use more fitness equipment. Fitness equipment market trends such as personal health care and virtual fitness workouts are major growth pillars to support the sales of these products.

Fitness Equipment Market – Key Segmentation, Drivers and Opportunities

The fitness equipment market is segmented into type, end-user, and region. According to type, the fitness equipment market analysis is categorized into cardiovascular training equipment, strength training equipment, and other equipment. The cardiovascular exercise equipment segment is divided into treadmill, elliptical trainer, stationary bike, rowing machine and others. By end-user, the market is divided into home consumers, health clubs/gyms, and other commercial users.

Main results of the study

By region, North America dominates in terms of fitness equipment market share and is expected to maintain its dominance during the forecast period.
By type, the cardiovascular exercise equipment segment leads in terms of market share and is expected to gain market share in the coming years
By end-user, the home consumer segment accounted for over 60% of fitness equipment market growth in 2020, driven by the imposition of social distancing and the closure of gyms during the COVID pandemic -19. However, the health club/gym segment is poised to grow at the highest CAGR during the fitness equipment market forecast period of 2021 to 2028.
By end-user, the health club/gym segment is expected to gain market share in the coming years and is expected to grow at a CAGR of 6.4% during the forecast period.
By region, Asia-Pacific is expected to grow with a robust CAGR of 5.7% over the forecast period.

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Key Players Analysis for Fitness Equipment Market:-

ANTA SPORTS PRODUCTS LIMITED, CORE HEALTH & FITNESS, LLC, ICON HEALTH & FITNESS, INC., IMPULSE HEALTH TECHNOLOGY CO., LTD., JOHNSON HEALTH TECH. CO., LTD., NAUTILUS, INC., PELOTON INTERACTIVE INC., TECHNOGYM SPA, TORQUE FITNESS, LLC, TRUE FITNESS TECHNOLOGY, INC.

LIST OF PAINTINGS

TABLE 01. PERCENTAGE OF YOUTH POPULATION, BY COUNTRY 2018 (%)
TABLE 02. GLOBAL FITNESS EQUIPMENT MARKET REVENUE, BY TYPE (INCLUDING PELOTON IMPACT) 2020-2028 ($MILLION)
TABLE 03. US FITNESS EQUIPMENT MARKET REVENUE, BY TYPE (INCLUDING PELOTON IMPACT) 2020-2028 ($MILLION)
TABLE 04. CANADIAN FITNESS EQUIPMENT MARKET REVENUE, BY TYPE (INCLUDING PELOTON IMPACT) 2020-2028 ($MILLION)
TABLE 05. UK FITNESS EQUIPMENT MARKET REVENUE, BY TYPE (INCLUDING PELOTON IMPACT) 2020-2028 ($MILLION)
TABLE 06. GERMANY FITNESS EQUIPMENT MARKET REVENUE, BY TYPE (INCLUDING PELOTON IMPACT) 2020-2028 ($MILLION)
TABLE 07. FITNESS EQUIPMENT MARKET REVENUE, BY TYPE 2020-2028 ($MILLION)
TABLE 08. CARDIOVASCULAR TRAINING EQUIPMENT MARKET, BY REGION, 2020-2028 ($MILLION)
TABLE 09. GLOBAL CARDIOVASCULAR FITNESS EQUIPMENT MARKET, BY TYPE, 2020-2028 ($MILLION)
TABLE 10. FITNESS EQUIPMENT FOR STRENGTH TRAINING MARKET, BY REGION ($MILLION)
TABLE 11. OTHER FITNESS EQUIPMENT MARKET, BY REGION ($MILLION)
TABLE 12.ACTIVITY MONITORS:PRODUCTS

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FREQUENTLY ASKED QUESTIONS?
Q1. What will be the size of the fitness equipment market from 2021 to 2028?
Q2. What is the CAGR of the Fitness Equipment market?
Q3. How can I get a sample Fitness Equipment market report?
Q4. What is the base year calculated in the Fitness Equipment market report?
Q5. Who are the key companies in the Fitness Equipment market?

SIMILAR REPORTS:-

Home Exercise Bike Market is Expected to Reach $2,335.2 Million by 2027
Sports graphics market in US and India expected to reach $4,268 million by 2023

David Correa
Allied Analytics LLP
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