Fitness Equipment Market Size, Share & Industry Trends 2024-2031

Fitness Equipment Market size attained a valuation of USD 14.55 billion in 2023 and is expected to reach approximately USD 21.72 billion by 2031, growing at a CAGR of 5.22% from 2024 to 2031. In the scope of work, the report includes products offered by companies such as Life Fitness, TECHNOGYM S.p.A, JOHNSON HEALTH TECH INDIA, PVT. LTD., BowFlex Inc., Jerai Fitness Pvt. Ltd., NOHRD GmbH, Total Gym, Powertec, Gungnir of Norway, MIM-USA and others.

List of Key Companies in Fitness Equipment Market

• Life Fitness
• TECHNOGYM S.p.A
• JOHNSON HEALTH TECH INDIA, PVT. LTD.
• BowFlex Inc.
• Jerai Fitness Pvt. Ltd.
• NOHRD GmbH
• Total Gym
• Powertec
• Gungnir of Norway
• MIM-USA

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One of the key trends propelling the fitness equipment market is the integration of advanced technology. Interactive displays, virtual training sessions, and equipment with built-in performance trackers are becoming essential features that attract tech-savvy fitness enthusiasts. This is particularly noticeable in cardiovascular equipment, which is in high demand for both home and commercial use. The ability to track progress and access guided workout programs helps individuals maintain consistency and motivation in their fitness routines, boosting demand for premium products.

The residential segment of the market has seen significant growth, particularly after the COVID-19 pandemic, which led to a surge in demand for home fitness solutions. As many consumers shifted their workout routines to home environments, the fitness equipment market responded with new, compact, and technologically advanced products tailored for smaller living spaces. The ability to stream workouts, connect with personal trainers remotely, and engage in live fitness challenges are some of the key factors contributing to the growth in home fitness equipment. High-end smart fitness products such as Peloton bikes and NordicTrack’s interactive treadmills have emerged as game-changers in this segment.

On the commercial side, fitness centers and gyms continue to dominate the market, accounting for a substantial share of the revenue. These facilities offer access to a wide range of fitness machines and services, which provide an all-encompassing fitness experience that includes personal training and nutrition advice. Moreover, the adoption of fitness equipment in corporate wellness programs has increased, as businesses focus on promoting a healthier workforce.

Asia-Pacific is expected to witness the highest growth in the coming years. This surge is driven by rapid urbanization, increasing health awareness, and the rising disposable income in countries such as China, Japan, and India. Governments in these regions are also promoting physical activity through public health campaigns, which further boosts the market. Moreover, the sedentary lifestyle prevalent in urban areas is encouraging individuals to invest in personal fitness equipment to maintain a healthier lifestyle. As a result, both domestic and international fitness equipment manufacturers are expanding their operations in the Asia-Pacific region to cater to the growing demand.

In Europe, the market is also showing promising growth, with countries like the UK, Germany, and France leading in the adoption of high-end fitness equipment. The growing popularity of boutique fitness studios, which often require specialized equipment, is one of the drivers for market growth in this region. Additionally, an aging population and the associated focus on health and wellness are contributing to the rise in demand for fitness equipment that caters to older adults.

Several leading companies are shaping the fitness equipment market. Notable names include Life Fitness, Technogym, and Johnson Health Tech. These companies are continuously innovating to provide cutting-edge products, ensuring they meet the demands of both the residential and commercial sectors. Strategic partnerships, product launches, and acquisitions are common business strategies in this competitive landscape. For instance, Echelon Fit partnered with AdventHealth to promote collective health and wellness initiatives through community fitness challenges, which not only foster brand loyalty but also raise awareness about health and fitness.

In terms of distribution channels, fitness equipment is primarily sold through specialty fitness stores, department stores, and online retailers. The rise of e-commerce has particularly influenced the market, with many consumers opting to purchase fitness equipment online due to the convenience of home delivery and the availability of a wide range of products. Online platforms also allow customers to compare prices and read reviews, making it easier for them to make informed purchasing decisions.

Looking ahead, the fitness equipment market is poised for robust growth, with continued innovation and rising health consciousness among consumers. Manufacturers that can offer high-quality, technologically advanced products are expected to thrive in this evolving landscape. With a growing emphasis on fitness, both at home and in commercial settings, the fitness equipment industry is set to remain a vital part of the global health and wellness ecosystem.

Fitness Equipment Market is segmented as:

By Product Type

• Cardio Equipment
• Strength Training Equipment
• Other Equipment

By End User

• Residential
• Commercial

By Distribution Channel

• Specialty Fitness Equipment Stores
• Department Stores
• Online Retailers
• Others

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