Key Points and Statistics on the Global Fitness Equipment Market: Growth, Segments, and Market Overview
The global fitness equipment market is on track to dominate revenue, aiming for a staggering USD 18,125 million by 2030, growing at a commendable CAGR of 5.9% from 2022 to 2030. Key segments in the market include cardiovascular training equipment, strength training equipment, and other equipment, catering to home consumers, health clubs/gyms, and other commercial users.
North America took the lead in generating maximum revenue in 2021, fueled by the presence of key players, a rising base of chronic patients, and technological advancements. The cardiovascular training equipment segment emerged as the frontrunner, capturing the largest market share in 2021.
This growth is driven by factors such as the increasing number of health and fitness-conscious populations, the surge in chronic disorders like heart disease, diabetes, and obesity, and the growing number of gyms and fitness clubs. Governments worldwide are also rolling out initiatives to promote a healthier lifestyle, further fueling the demand for fitness equipment.
Despite challenges such as the high cost of fitness equipment, rising demand for resale of used equipment, space constraints, and lack of awareness regarding the benefits of fitness equipment, the market is poised for significant growth in the upcoming years.
The market is witnessing exciting trends and innovations, including the rise of smart fitness equipment with features like heart rate monitors and workout apps, virtual reality fitness platforms offering immersive workouts, and connected fitness equipment connected to the internet for tracking progress and accessing online workouts.
With an optimistic growth trajectory ahead, the fitness equipment market is set to revolutionize the health and fitness industry, offering consumers advanced tools and technologies to achieve their wellness goals. Don’t miss out on the latest developments in this dynamic market space as it continues to evolve and expand.
