Fitness equipment Market is considered to be a subset of the large sporting goods sector. Fitness equipment’s includes items such as free weights, treadmills, weight machines etc. Fitness equipment devices are used for physical movement of the body to improve physical stamina, obesity, overall weight and muscle strength development. The demand for fitness is growing worldwide due to increased health awareness among people. Furthermore, fitness exercises are advised sometimes under certain medical treatments. Surging number of sales of in-home equipment, gym memberships, growing urban population along with government initiatives to promote healthy lifestyle has uplifted the acceptance of fitness equipment.
Fitness Equipment Market Dynamics
Along with growing urbanization acceptance of fitness equipment is also rising. Changing lifestyle and busy and hectic schedule have further led to the acceptance of in-home fitness equipment’s so that it becomes easy for individual and can be time saving also. Working out at home saves gym membership expenses. However low space and high cost of equipment’s might hamper the market growth. Home fitness equipment’s are available with adjustable pulleys and cables that offers options for shoulder back, abdominal, arms, leg press, chest exercise and calf raise which provides customization in a single multipurpose equipment. Furthermore, key players are doing high investments to offer more innovative solutions. The rise in production of smart treadmills which are structured to help monitor heart rate, run speed and jog, distance covered by an individual, work out timings, number of calories burned, are also available in compact foldable form for ease is further acting as a positive opportunity for the market growth. Another innovation of smart dumbbells which consists of built-in sensors helping to monitor the movement of arm has an advantage to connect with smart electronic devices is likely to uplift the market.
COVID-19 Impact on Fitness Equipment Market
The evolution of the pandemic has resulted in the growing number of people working out from there homes to avoid getting infected which in turn has positively attributed towards the market growth. For instance, fitness equipment sales observed a positive growth of 170 percent according to data forwarded by business wire in May 2020, which is further attributed by the outbreak of the coronavirus. This pandemic has also projected non-fitness enthusiasts to show more importance to the maintenance of fitness and health, which further supports to generate traction.
Fitness Equipment Market Segmental Overview
The report analyses of the fitness equipment market based on type, sales channel, end-user and by geography.
Get Free Sample Research Copy for More Industry Insights:
Fitness Equipment Market by Type
The fitness equipment market is diverse and includes a wide range of products that cater to various fitness goals and preferences. Some of the most common types of fitness equipment in the market include:
- Cardiovascular equipment: This category includes machines such as treadmills, ellipticals, stationary bikes, and rowing machines. These machines are designed to elevate the heart rate and improve cardiovascular health.
- Strength training equipment: This category includes machines such as weight benches, power racks, squat racks, and cable machines. These machines are designed to build muscle strength and mass through resistance training.
- Free weights: This category includes equipment such as dumbbells, barbells, and weight plates. These weights are typically used in conjunction with weight benches or power racks for strength training.
- Fitness accessories: This category includes products such as exercise mats, resistance bands, foam rollers, and stability balls. These accessories are designed to supplement workouts and improve flexibility, balance, and core strength.
- Others: The fitness equipment market also includes other products such as fitness trackers, smartwatches, and smart scales that help users track their fitness progress and monitor their health metrics.
The choice of fitness equipment type depends on several factors such as fitness goals, personal preferences, and available space and budget. Some users may prefer the convenience and versatility of cardio machines, while others may prefer the targeted muscle-building capabilities of strength training equipment. Additionally, some users may opt for accessories that can enhance their workouts and improve overall fitness levels.
Fitness Equipment Market by Sales Channel
The fitness equipment market is sold through several sales channels, including:
- Online retail: Online retailers such as Amazon, eBay, and other e-commerce platforms have become increasingly popular in recent years. These retailers offer a wide range of fitness equipment, accessories, and apparel that can be purchased from the comfort of the user's home.
- Specialty stores: Specialty fitness stores, such as Dick's Sporting Goods, Sports Authority, and other sports equipment stores, offer a wide range of fitness equipment and accessories. These stores often have knowledgeable staff that can provide guidance on selecting the right equipment for specific fitness goals and preferences.
- Hypermarkets and Supermarkets: Large retailers such as Walmart, Target, and Costco also sell fitness equipment and accessories. These retailers offer a wide range of products at competitive prices and can be a convenient option for consumers.
- Company-owned stores: Some fitness equipment manufacturers, such as Peloton and NordicTrack, operate their own stores and showrooms. These stores allow consumers to test the equipment before making a purchase and offer guidance on product selection and maintenance.
- Second-hand market: The second-hand market for fitness equipment has also grown in popularity in recent years. Platforms such as Craigslist, Facebook Marketplace, and other online marketplaces offer a range of used fitness equipment at discounted prices.
The choice of sales channel depends on several factors such as availability, convenience, price, and product selection. Some users may prefer the convenience of online shopping, while others may prefer the guidance and expertise provided by specialty stores. Additionally, some users may opt for second-hand equipment to save money, while others may prefer new equipment for reliability and longevity.
Fitness Equipment Market by End User
The fitness equipment market is diverse and caters to various end-users. Some of the most common end-users in the market include:
- Home users: Fitness equipment for home use includes treadmills, ellipticals, stationary bikes, weight benches, and other types of equipment. Home users typically purchase equipment for personal fitness goals or to supplement their gym memberships.
- Fitness clubs and gyms: Fitness clubs and gyms are major consumers of fitness equipment. They require equipment that can withstand heavy usage and can cater to a wide range of fitness goals and preferences.
- Corporate offices: Corporate offices are increasingly incorporating fitness equipment into their wellness programs. Equipment such as treadmill desks, exercise bikes, and standing desks are becoming more common in workplaces to promote physical activity and reduce sedentary behavior.
- Hotels and resorts: Hotels and resorts often have fitness facilities to cater to guests' needs. These facilities typically require durable equipment that can withstand heavy usage and cater to a wide range of fitness goals.
- Hospitals and rehabilitation centers: Hospitals and rehabilitation centers require specialized equipment to cater to patients' medical needs. Equipment such as physiotherapy machines, balance trainers, and rehabilitation equipment are common in these settings.
The choice of fitness equipment depends on the end-user's specific needs and preferences. For example, home users may opt for compact and versatile equipment that can fit in limited space, while fitness clubs and gyms may require commercial-grade equipment that can handle heavy usage. Additionally, hospitals and rehabilitation centers may require specialized equipment to cater to patients' medical needs, while corporate offices may opt for equipment that promotes physical activity and reduces sedentary behavior.
Fitness Equipment Market Key Players
Some of the major players operating in this market include Brunswick Corporation, Technogym S.p.A., ICON Health Fitness, Inc., Nautilus, Inc., Amer Sports Corporation, TRUE Fitness Technology, Inc., Core Health and Fitness, LLC, Torque Fitness, LLC Precor Incorporated, Johnson Health Tech Co., Ltd., SportsArt Fitness, Inc., Cybex International, Vectra Fitness, NordicTrack, Woodway USA, Inc., Fitness World, HOIST Fitness Systems.
Buy Now and Get More Discount:
Axiom Market Research Consulting™ is a full-service market research and data analytics company providing key market intelligence to global companies to take informed business decisions pertaining to their marketing strategy, investments, new product launches, market competition, consumer or end users, social media trends etc.
Axiom Market Research Consulting™ offers market research services such as syndicated market research, custom market research, business consulting, and consumer/end user surveys. Under Business to Consumer (B2C) market research offerings, Axiom MRC assists its clients in finding quantitative information/preferences of its brands and services such as, awareness, usages, satisfaction, tracking, ethnicity etc. Axiom MRC offers data collection services through online surveys, social media, data processing and interpretation.
Axiom MRC with its experienced team of research and data analysts, has delivered more than 5000+ Market Research Projects, 3800+ Data Analytics Projects, 1200+ Business Support Projects and has a 800+ Global Client Base. Axiom Market Research Consulting™ aims to become the preferred market research and data analytics company by providing key market intelligence solutions for client’s business growth.
Contact Us :
Axiom Market Research Consulting™
3 Germay Dr. Ste 4 - 4666
Wilmington DE 19804
U.S.:- + 1 (845) 875-9786
U.K.:- + 44 (0) 20 3286 9707