Fitness Equipment Market to Expand by Over $8 Billion by 2030
Rising health awareness, the popularity of home fitness, and technological advancements are key drivers in the market’s projected growth over the next six years
The global fitness equipment market is on a trajectory of significant growth, according to a new report from ResearchAndMarkets.com. The report provides an in-depth analysis of market dynamics, trends and forecasts, highlighting a robust expansion from USD $17.01 billion in 2023 to an anticipated USD $25.17 billion by 2030.
The market, which saw a valuation of USD $17.97 billion in 2024, is expected to continue growing at a compound annual growth rate (CAGR) of 5.75% through the forecast period. This growth is driven by increasing global health consciousness, a rise in the number of gyms and fitness clubs and a growing demand for advanced fitness equipment.
The report notes that the prevalence of chronic diseases and obesity is prompting more individuals to adopt healthier lifestyles, further fueling the demand for fitness equipment. Additionally, the integration of smart technology into fitness equipment is changing the industry, offering consumers enhanced workout experiences.
Regional Insights
The Americas, particularly the United States and Canada, remain significant markets for fitness equipment, bolstered by high health awareness and technological advancements in connected fitness devices. Europe follows closely, with countries like Germany, France, Italy, Spain and the UK leading the market due to a growing emphasis on the health benefits of regular exercise.
In the Middle East and Africa, rising disposable incomes in countries like the UAE and Saudi Arabia are driving demand for premium fitness equipment. The Asia-Pacific region, especially China, is poised for substantial growth due to rapid urbanization, increasing disposable incomes, and government investments in gym facilities. Japan’s aging population is also contributing to the market, with a growing focus on healthcare initiatives that emphasize physical exercise.
Market Challenges & Opportunities
Despite the optimistic outlook, the market faces challenges, including the high cost of fitness equipment and the availability of counterfeit products. However, the increasing popularity of home fitness equipment, driven by busy lifestyles and the desire for convenience, presents significant opportunities. The report highlights that companies are actively investing in research and development to overcome these challenges and cater to the growing demand for innovative and technologically advanced fitness equipment.
Several noteworthy developments in the fitness equipment market were highlighted in the report:
- Chris Hemsworth’s Centr has launched 27 new products, including fitness kits and strength training equipment, available online and in Walmart stores. These products are designed with a modern aesthetic, complementing Centr’s digital membership tools.
- Luton Sports Village has invested £175,000 in new cardio equipment to enhance customer experience, introducing state-of-the-art machines like the Hammer Strength HD Tread curved treadmill and Air Bike.
- TRX’s acquisition of YBell Fitness has expanded its product range, offering a more comprehensive functional training experience. This strategic acquisition reinforces TRX’s commitment to providing high-quality fitness equipment and education.
The report provides detailed segmentation analysis, market dynamics and insights into the competitive landscape. Key areas of focus include:
- Product Utilization: Increased demand for strength training equipment.
- Distribution Channels: A shift towards online retail stores as consumers seek convenience.
- End-User Application: Expanding use of fitness equipment in fitness centers and gyms.
The report also delves into market disruptions, technological advancements, pricing and regulatory frameworks, offering a comprehensive view of the global fitness equipment market.
For more detailed information about the report, visit ResearchAndMarkets.com.