USD 7.71 Bn growth opportunity in Fitness Equipment Market — Driven by increased demand for home fitness equipment – PR Newswire
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NEW YORK, Aug. 9, 2022 /PRNewswire/ — The “Fitness Equipment Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025” report by Technavio expects the market size to grow by USD 7.71 billion between 2020 and 2025. The market observed a YOY growth of 48.57% in 2021. However, the growth momentum is expected to decelerate at a CAGR of 18.52% during the forecast period. The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies. Download PDF Report Sample Here
The global fitness equipment market is fragmented due to the presence of many regional and international players. The vendors in the market are focusing on new product launches and forming strategic alliances and acquiring other vendors to gain a competitive advantage. For instance, in July 2021, Icon Health and Fitness Inc. announced the acquisition of Sweat, a leading platform for women’s health and fitness. Technavio identifies Core Health and Fitness LLC, Dyaco International Inc., Icon Health and Fitness Inc., Impulse (Qingdao) Health Tech Co. Ltd., Johnson Health Tech Inc., Life fitness, Nautilus Inc., Panatta Srl, TECHNOGYM Spa, and Tunturi New Fitness BV as major market participants.
Although the increased demand for home fitness equipment, technological advancements in fitness equipment, and the rising number of overweight and obese people will offer immense growth opportunities, the high cost of fitness equipment and availability of counterfeit products, lack of awareness about connected fitness equipment, and long repurchase cycle will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The global fitness equipment market is segmented as below:
The demand for cardiovascular training equipment was significant in the market in 2021. The segment includes treadmills, cross-trainers, stationary bikes, and ski machines. Increasing health consciousness and the high incidence of obesity are driving the demand for cardiovascular training equipment.
The demand for fitness equipment is high among individual users. The surge in interest in home fitness equipment and related online coaching classes has been crucial in driving the growth of the segment. The market growth in the segment will be significant during the forecast period.
38% of the market growth will originate from North America during the forecast period. The presence of a large population that is health-conscious and can afford fitness equipment is driving the growth of the regional market. In addition, the increased prevalence of age-related health conditions is contributing to the growth of the fitness equipment market in North America.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. View Sample Report Here
Fitness Equipment Market 2021-2025: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the fitness equipment market, including some of the dominant vendors. Backed with competitive intelligence and benchmarking, our research report on the fitness equipment market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
Fitness Equipment Market 2021-2025: Key Highlights
Fitness Equipment Market Scope
Growth momentum & CAGR
Decelerate at a CAGR of 18.52%
Market growth 2021-2025
USD 7.71 billion
YoY growth (%)
North America, APAC, Europe, MEA, and South America
Performing market contribution
North America at 38%
Key consumer countries
US, China, Japan, UK, and Germany
Leading companies, competitive strategies, consumer engagement scope
Core Health and Fitness LLC, Dyaco International Inc., Icon Health and Fitness Inc., Impulse (Qingdao) Health Tech Co. Ltd., Johnson Health Tech Inc., Life fitness, Nautilus Inc., Panatta Srl, TECHNOGYM Spa, and Tunturi New Fitness BV
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table Of Contents :
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-user
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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