Size of the fitness equipment market worth $16.31 billion, globally, by 2028 at a CAGR of 4.26%: Verified Market Research®

Rising rates of obesity worldwide due to unhealthy eating habits and changing lifestyles are increasing the demand for a healthy and active lifestyle, which is positively impacting the fitness equipment market .

JERSEY CITY, NJ, April 25, 2022 /PRNewswire/ — Verified Market Research recently released a report, “fitness equipment marketBy Type (Strength Training Equipment, Cardiovascular Training Equipment), By End User (Home Consumer, Health Club) and By Geography. According to verified market research, the global fitness equipment market size was valued at $11.69 billion in 2020 and is expected to reach $16.31 billion by 2028, growing at a CAGR of 4.26% from 2021 to 2028.

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Overview of the global fitness equipment market

The major drivers for the growth of the fitness equipment market are increasing urbanization, increasing prevalence of obesity and chronic diseases due to unhealthy lifestyles, as well as expansion of corporate wellness initiatives and cross-sectoral demand. Furthermore, growing awareness of the risks of growing obesity, growing geriatric population, and increasing desire for minimally invasive and non-invasive surgeries are all contributing to the overall market growth. On the other hand, the growth of the market is expected to be hampered by the high costs of installing or installing devices or equipment, as well as an increased desire to resell used fitness equipment to save money. money over the projected period.

The fitness equipment industry is now driven by a growing desire to have a healthy and fit lifestyle. This has increased the number of health and fitness clubs globally, further boosting the growth prospects of the market. Additionally, the growth of government programs in many countries aimed at promoting a healthy lifestyle has been a major industry driver in recent years. For example, over the next five years, the Australian government plans to invest $230 million in sport and physical activity initiatives. In addition, the government is encouraging more Australians to be physically active by encouraging participation in physical activities and strengthening community groups related to sports and fitness. As people place greater emphasis on free, unstructured opportunities for physical activity and governments continue to invest in promoting and implementing policies that support active lifestyles and community connections with a focus on health prevention, the popularity and demand for outdoor fitness equipment (OFE) will grow.

Key developments

  • On May 2019Brunswick Corporation and KPS Capital Partners, LP (“KPS”) have entered into a definitive agreement under which KPS would purchase Brunswick’s Fitness division and related brands, including Life Fitness.
  • February 2022, Technogym has been chosen as the exclusive wellness partner of the Bridge Lifestyle Hub. Technogym is the best-known brand for digital fitness and wellness products, services and technologies.

Key players

Major market players include Brunswick Corporation, Technogym SpA, Amer Sports Corporation, Nautilus, Inc., TRUE Fitness Technology, Inc., Impulse (Qingdao) Health Tech Ltd. Co., ICON Health & Fitness, Inc., Johnson Health Tech Co., Ltd., Core Health & Fitness, LLC., Torque Fitness LLC.

Verified Market Research has segmented the global fitness equipment market on the basis of type, end-user, and geography.

  • Fitness Equipment Market, By Type
  • Fitness Equipment Market, By End User
    • Domestic consumer
    • health club
    • Hospitals and medical center
    • Other business user
  • Fitness Equipment Market, By Geography
    • North America
    • Europe
      • Germany
      • France
      • UK
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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Top 5 Interactive Fitness Companies enable digital drive solutions

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