USD 7.71 Bn growth opportunity in Fitness Equipment Market -- Driven by increased demand for home fitness equipment

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:

• Product
• Cardiovascular Training Equipment
• Strength Training Equipment
• Other Equipment

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.

• End-user
• Individual Users
• Health Clubs and Gyms

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.

• Geography
• North America
• APAC
• Europe
• MEA
• South America

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

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will assist fitness equipment market growth during the next five years
• Estimation of the fitness equipment market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the fitness equipment market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of fitness equipment market vendors

Related Reports:

• Gym and Health Clubs Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025
• Connected Gym Equipment Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

Table Of Contents :

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2020
• Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Product

• Market segments
• Comparison by Product
• Cardiovascular training equipment - Market size and forecast 2020-2025
• Strength training equipment - Market size and forecast 2020-2025
• Other equipment - Market size and forecast 2020-2025
• Market opportunity by Product

Market Segmentation by End-user

• Market segments
• Comparison by End-user
• Individual users - Market size and forecast 2020-2025
• Health clubs and gyms - Market size and forecast 2020-2025
• Market opportunity by End-user

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2020-2025
• APAC - Market size and forecast 2020-2025
• Europe - Market size and forecast 2020-2025
• MEA - Market size and forecast 2020-2025
• South America - Market size and forecast 2020-2025
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• 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
• Tunturi New Fitness BV

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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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SOURCE Technavio