Fitness Equipment Market Size, Growth, Trends, Report 2024-2033
The global fitness equipment market size was estimated at around USD 17.42 billion in 2023 and is projected to hit around USD 29.34 billion by 2033, growing at a CAGR of 5.35% from 2024 to 2033.
In recent years, the global fitness equipment market has experienced significant growth, driven by various factors such as increasing health awareness, rising disposable incomes, and the growing trend of fitness consciousness among individuals of all age groups.
The growth of the fitness equipment market is driven by an increasing health awareness among individuals of all age groups is prompting more people to adopt active lifestyles, leading to a greater demand for fitness equipment. Additionally, rising disposable incomes in many regions allow consumers to invest in home fitness equipment as a convenient way to stay fit. Moreover, the proliferation of technological advancements such as IoT (Internet of Things) and AI (Artificial Intelligence) integration in fitness equipment enhances user experience, further stimulating market growth. Furthermore, the COVID-19 pandemic has accelerated the trend of home-based workouts, contributing to a surge in demand for fitness equipment for personal use.
| Report Coverage | Details |
| Revenue Share of North America in 2023 | 35% |
| Revenue Forecast by 2033 | USD 29.34 billion |
| Growth Rate from 2024 to 2033 | CAGR of 5.37% |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
The cardiovascular training equipment segment led the market in 2023 accounting for over 55% share of the global revenue. The scope of cardiovascular training equipment encompasses a range of machines, including treadmills, stationary cycles, and elliptical trainers & others. These machines, along with innovative features and technological advancements, are driving market growth. In addition, the increasing usage of wearable devices and fitness apps has created a demand for cardiovascular training fitness equipment seamlessly integrated with technologies, such as Internet of Things (IoT) devices, cloud computing, and mobile applications. The strength training equipment segment is estimated to grow significantly over the forecast period.
Strength training is a crucial part of a daily fitness routine to build muscle mass and increase overall strength. This type of training focuses on working the muscles through weights or weight machines. Market players are integrating smart strength technology into strength training equipment to track progress and performance, provide feedback on form, personalize workouts, and make the overall experience more engaging. For instance, PRIME Fitness USA offers Smart Strength technology, an innovative way to improve strength training to train a muscle in shortened, medial, or lengthened positions. It is a valuable tool for athletes, fitness enthusiasts, and individuals seeking optimal results from their workout routines.
The home consumers segment led the market in 2023 accounting for over 53% share of the global revenue. Home gym equipment consumers are experiencing rapid growth, driven by several key trends, such as the rise of connected home devices, and increasing focus on health and wellness. Moreover, online fitness platforms have become popular, offering various workouts and fostering connections among fitness enthusiasts. IoT-enabled fitness equipment is in demand as it enables tracking and motivation. Functional fitness, focusing on exercises for everyday tasks, is gaining traction for overall health improvement.
In addition, the market sees a rise in demand for space-saving equipment, catering to individuals in small spaces seeking compact and easy-to-store fitness options. The fitness centers/gyms segment is estimated to grow significantly over the forecast period. The others segment includes corporate wellness programs, hotels & resorts, rehabilitation centers, educational institutions, military/law enforcement, and senior living communities, all aimed at promoting health and well-being. From corporate wellness programs and hotels to rehabilitation centers and educational institutions, fitness equipment is instrumental in maintaining overall health and fostering a culture of wellness.
It caters to the diverse needs of individuals and contributes to their physical fitness, improving their quality of life and overall well-being. For instance, in January 2023, NordicTrack, the Icon Health & Fitness Inc. brand, launched the NordicTrack iSelect Adjustable Dumbbells. These voice-controlled dumbbells are designed to work with Alexa, enabling users to electronically adjust the weight from 5 to 50 pounds using voice commands through a compatible Alexa-enabled device. This innovative feature ensures a smooth and convenient workout experience.
The offline segment held the largest revenue share of over 58% in 2023. Offline fitness stores are gaining popularity as consumers seek personalized shopping experiences, offering a wide range of products and expert advice. Omnichannel retail is increasing, allowing customers to shop online, in-store, or both for convenience and wider reach. Moreover, in-person fitness experiences and traditional fitness distribution channels continued to play a vital role. Many people prefer attending gyms and fitness centers for various reasons, such as access to specialized equipment, social interaction, and personalized coaching. The online segment is estimated to register a significant growth rate during the forecast period.
The online distribution channel segment is witnessing significant growth due to various factors. The accessibility of high-speed internet enables people to stream live and on-demand fitness classes conveniently from home. In addition, the rising costs of traditional gym memberships make online fitness a more affordable option for many individuals. The popularity of wearable technology aids in tracking fitness progress and maintaining motivation. Moreover, the increasing awareness about the importance of physical fitness for overall health and well-being further boosts the demand for online fitness solutions. As a result, the online fitness market is predicted to continue expanding in the coming years.
North America dominated the market in 2023 and accounted for over 35% share of the global revenue owing to the consumers’ growing health awareness and increased adoption of a healthy lifestyle that promotes weight management, physical well-being, improved body stamina, and muscular strength. The high obese or overweight population base in North America drives the demand in this region. In addition, increasing government regulations to promote health consciousness among its citizens has led North America to dominate the industry. The growth of the cardiovascular training equipment sector in the U.S. for home fitness is fueling the overall market expansion. The significant claim of the U.S. population for cardiovascular training equipment, such as stationary bikes, rowers, and treadmills, to maintain their cardio health is expected to propel fitness equipment demand in the country.
Asia Pacific is anticipated to register the fastest CAGR over the forecast period. Developed countries, such as Japan and South Korea, significantly drive market growth in the Asia Pacific region. Markets in countries, such as China and India, are witnessing rapid growth. The rising youth population across these countries drives the adoption of training equipment. In this region, there has been an increase in gym membership due to the adoption of Western culture and the growing desire to improve the overall appearance. The region's overall disposable income increased significantly. Product adoption in the region is anticipated to be accelerated by rapid urbanization in developing economies, a rise in the youth population, and rising per capita disposable income.
By Type
By End-user
By Distribution Channel
By Region
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Type Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Fitness Equipment Market
5.1. COVID-19 Landscape: Fitness Equipment Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Fitness Equipment Market, By Type
8.1. Fitness Equipment Market, by Type, 2024-2033
8.1.1 Cardiovascular Training Equipment
8.1.1.1. Market Revenue and Forecast (2021-2033)
8.1.2. Strength Training Equipment
8.1.2.1. Market Revenue and Forecast (2021-2033)
8.1.3. Others
8.1.3.1. Market Revenue and Forecast (2021-2033)
Chapter 9. Global Fitness Equipment Market, By End-user
9.1. Fitness Equipment Market, by End-user, 2024-2033
9.1.1. Home Consumers
9.1.1.1. Market Revenue and Forecast (2021-2033)
9.1.2. Fitness Centers/Gyms
9.1.2.1. Market Revenue and Forecast (2021-2033)
9.1.3. Others
9.1.3.1. Market Revenue and Forecast (2021-2033)
Chapter 10. Global Fitness Equipment Market, By Distribution Channel
10.1. Fitness Equipment Market, by Distribution Channel, 2024-2033
10.1.1. Offline
10.1.1.1. Market Revenue and Forecast (2021-2033)
10.1.2. Online
10.1.2.1. Market Revenue and Forecast (2021-2033)
Chapter 11. Global Fitness Equipment Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Type (2021-2033)
11.1.2. Market Revenue and Forecast, by End-user (2021-2033)
11.1.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Type (2021-2033)
11.1.4.2. Market Revenue and Forecast, by End-user (2021-2033)
11.1.4.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Type (2021-2033)
11.1.5.2. Market Revenue and Forecast, by End-user (2021-2033)
11.1.5.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Type (2021-2033)
11.2.2. Market Revenue and Forecast, by End-user (2021-2033)
11.2.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Type (2021-2033)
11.2.4.2. Market Revenue and Forecast, by End-user (2021-2033)
11.2.4.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Type (2021-2033)
11.2.5.2. Market Revenue and Forecast, by End-user (2021-2033)
11.2.5.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Type (2021-2033)
11.2.6.2. Market Revenue and Forecast, by End-user (2021-2033)
11.2.6.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Type (2021-2033)
11.2.7.2. Market Revenue and Forecast, by End-user (2021-2033)
11.2.7.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Type (2021-2033)
11.3.2. Market Revenue and Forecast, by End-user (2021-2033)
11.3.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Type (2021-2033)
11.3.4.2. Market Revenue and Forecast, by End-user (2021-2033)
11.3.4.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Type (2021-2033)
11.3.5.2. Market Revenue and Forecast, by End-user (2021-2033)
11.3.5.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Type (2021-2033)
11.3.6.2. Market Revenue and Forecast, by End-user (2021-2033)
11.3.6.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Type (2021-2033)
11.3.7.2. Market Revenue and Forecast, by End-user (2021-2033)
11.3.7.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Type (2021-2033)
11.4.2. Market Revenue and Forecast, by End-user (2021-2033)
11.4.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Type (2021-2033)
11.4.4.2. Market Revenue and Forecast, by End-user (2021-2033)
11.4.4.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Type (2021-2033)
11.4.5.2. Market Revenue and Forecast, by End-user (2021-2033)
11.4.5.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Type (2021-2033)
11.4.6.2. Market Revenue and Forecast, by End-user (2021-2033)
11.4.6.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Type (2021-2033)
11.4.7.2. Market Revenue and Forecast, by End-user (2021-2033)
11.4.7.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Type (2021-2033)
11.5.2. Market Revenue and Forecast, by End-user (2021-2033)
11.5.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Type (2021-2033)
11.5.4.2. Market Revenue and Forecast, by End-user (2021-2033)
11.5.4.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Type (2021-2033)
11.5.5.2. Market Revenue and Forecast, by End-user (2021-2033)
11.5.5.3. Market Revenue and Forecast, by Distribution Channel (2021-2033)
Chapter 12. Company Profiles
12.1. PrecorIncorporated.
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Life Fitness (KPS Capital).
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Shandong EM Health Industry Group Co., Ltd.
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Icon Health & Fitness.
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Johnson Health Tech.
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Nautilus, Inc.
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. TRUE.
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Technogym
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Torque Fitness.
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Core Health & Fitness
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers