The global fitness equipment market is on track to reach a whopping USD 18,125 million by 2030, with a projected growth rate of 5.9% from 2022 to 2030. This surge in market size is driven by key segments such as cardiovascular training equipment, strength training equipment, and other equipment, catering to a wide range of end-users including home consumers, health clubs/gyms, and other commercial users.
In 2021, North America emerged as the leader in generating revenue in the fitness equipment market, thanks to the presence of key players, a growing base of chronic patients, and technological advancements. The cardiovascular training equipment segment also dominated the market share in the same year.
The fitness equipment market is witnessing a wave of trends and innovations, including the rise of smart fitness equipment with features like heart rate monitors and workout apps, virtual reality fitness platforms offering immersive workout experiences, and connected fitness equipment that allows users to track their progress online.
Despite facing challenges such as the high cost of fitness equipment, rising demand for resale of used equipment, and the need for space and maintenance, the industry is expected to continue its growth trajectory. Factors like the increasing health and fitness-conscious population, the rise in chronic disorders, and government initiatives promoting healthier lifestyles are expected to drive the market forward.
With major players like Anta Sports, Technogym, and Peloton leading the way, the fitness equipment market is poised for significant growth in the coming years. Stay tuned for more updates on this dynamic industry.