The projected value of the fitness equipment market is $14.8 billion

The global fitness equipment market is on the rise, with a projected value of $14.8 billion by 2028, according to a report by Allied Market Research. The market was valued at $11.6 billion in 2020 and is expected to grow at a CAGR of 3.3% from 2021 to 2028.

Fitness equipment such as treadmills, stationary bicycles, stair climbers, and weightlifting machines are in high demand for physical fitness, weight management, and improving body stamina and muscular strength. Factors driving the growth of the market include increased awareness of health and fitness, a rise in the obese population, government initiatives promoting a healthy lifestyle, and an increase in the youth population.

The alarming rise in global obesity, especially in urban areas, is also contributing to the growth of the fitness equipment industry. With 39% of adults worldwide being overweight and 13% obese, there is a growing need for fitness equipment to help combat health issues associated with obesity.

The market is segmented by type, end user, and region, with North America leading in market share. The cardiovascular training equipment segment is the largest, with the home consumer segment accounting for over 60% of market growth in 2020.

Key players in the fitness equipment market include ICON Health & Fitness, Johnson Health Tech Co., Ltd., Technogym S.p.A, Peloton, and Nautilus, Inc. With the increasing focus on health and fitness, the market is expected to continue its growth trajectory in the coming years.