The Fitness Equipment by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Fitness Equipment , The fitness equipment market size has grown steadily in recent years. It will grow from $13.94 billion in 2023 to $14.52 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to economic factors and disposable income, increased accessibility, fashion and trends in fitness, aging population and health awareness, commercial gym industry development..
The fitness equipment market size is expected to see steady growth in the next few years. It will grow to $17.51 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to health and wellness trends, online fitness platforms, focus on personalization, sustainable and eco-friendly equipment, integration with health monitoring.. Major trends in the forecast period include smart and connected equipment, home fitness revolution, virtual fitness experience, focus on health monitoring, eco-friendly designs..
The increasing prevalence of obesity is expected to boost the growth of the fitness equipment market going forward. Obesity refers to a medical condition that increases the risk of a number of diseases and ailments, such as heart disease, diabetes, high blood pressure and several cancers. Fitness equipment by providing aerobic workout, raise the heart rate, boost metabolism and burn calories to lose weight. For instance, in March 2022, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, around the world, 650 million adults, 340 million teenagers and 39 million children are obese. The WHO estimates that 167 million adults and children who are overweight or obese may experience some health problems by 2025. Therefore, increasing the prevalence of obesity is driving the growth of the fitness equipment market.
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The fitness equipment market covered in this report is segmented –
1) By Type: Cardiovascular Training Equipment, Strength Training Equipment, Other Equipment
2) By Buyer Type: Individual, Institution, Other Buyer Types
3) By Gender: Male, Female
4) By Application: Weight Loss, Body Building, Physical Fitness, Mental Fitness, Other Applications
5) By End User: Health Clubs Or Gyms, Home Consumer, Hotels, Corporates, Hospital And Medical Centers, Public Institutions
Product innovation has emerged as the key trend gaining popularity in the fitness equipment market. Major companies operating in the fitness equipment market are developing innovative products to strengthen their position in the market. For instance, in September 2022, Nautilus Inc., a US-based fitness equipment manufacturer, launched the Bowflex BXT8J treadmill with JRNY adaptive fitness app. It is featured with SoftDrop folding system and transport wheels, a crystal clear DualTrack LCD display comes with 26 built-in workout programs.
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