Fitness Equipment Market Report 2024 (Global Edition)

Global Fitness Equipment Market Report 2024 Market Size Split by Type (Cardiovascular Training Equipment, Strength Training Equipment, Others), by End User (Hospitals and Medical Centers, Corporate of...

Fitness Equipment Market Report Description

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Fitness Equipment Market Insights Video

Competitive Landscape of the Fitness Equipment Market

The fitness equipment sector is highly competitive, with major brands like Peloton, Technogym, and NordicTrack vying for market share. Companies focus on innovation by incorporating advanced technology and smart features into their products to improve user experience. The market is segmented into categories such as cardio and strength equipment, with sales channels ranging from online platforms to physical retail stores. Growing health awareness and the popularity of home workouts are boosting demand, prompting both established and emerging brands to innovate and broaden their product lines continuously. Critical competitive elements include unique product features, technological advancements, and effective customer engagement.

In August 2022, Peloton Interactive, Inc. announced that the Peloton Bike, Guide, and various accessories and apparel were available for purchase on Amazon in the U.S., with the Bike's delivery extending to most regions within the country. (Source:https://investor.onepeloton.com/news-releases/news-release-details/peloton-launches-products-apparel-and-accessories-amazons-us) In April 2021, Katapult and Expert Fitness Supply collaborated to enhance retail chain operations and expand product offerings in the areas of home gym equipment, rowers, and commercial treadmills. (Source: https://blog.katapult.com/katapult_konnect/katapult-announces-its-partnership-with-expert-fitness-supply) In March 2021, In order to expand its innovative intelligent strength training system's reach to new clients nationwide, Tonal, the smartest home gym and personal trainer, disclosed that it has collaborated with Nordstrom. The experience will debut in the Women's Active section of 40 Nordstrom stores in 20 states throughout the United States starting in March, including 12 states where Tonal did not yet have a physical facility. The collaboration will be realized through a fifty-square-foot idea that allows guests to try a workout and see a complete Tonal demo. (Source: https://press.nordstrom.com/news-releases/news-release-details/tonal-partners-nordstrom-expand-its-retail-footprint-40-stores)

Top Companies Market Share in Fitness Equipment Industry: (In no particular order of Rank)

• Johnson Health Tech. Co.
• Ltd.
• True Fitness Technology
• Inc.
• Peloton Interactive
• Inc.
• Impulse Health Technology Co.
• Ltd.
• Core Health & Fitness
• LLC
• Anta Sports Products Limited
• Nautilus Inc.
• Torque Fitness
• Inc.
• iFIT
• Technogym S.p.A.
• Confidential Data
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• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Fitness Equipment Market

Which Region Dominates the Fitness Equipment Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenue. This is due to the high disposable incomes, a strong focus on health and wellness, and the widespread adoption of fitness regimes, which contributed significantly. The region saw substantial investments in advanced fitness technologies, catering to both home and commercial sectors. Furthermore, the presence of major fitness equipment manufacturers and innovative startups drives market growth. The pandemic-induced shift towards home workouts led to increased sales of home fitness equipment, while the reopening of gyms sustained demand for commercial-grade machinery. Additionally, government initiatives promoting physical activity and the rising popularity of digital fitness solutions bolstered North America's leading position in the market.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific stands out as the fastest-growing region in the Fitness Equipment market. Rising health awareness, increasing nonrefundable incomes, and a growing trend towards fitness and wellness drive this surge. Urbanization and the proliferation of fitness centers contribute to the heightened demand for various fitness equipment, from basic free weights to advanced cardio machines. The region's younger population is particularly inclined towards maintaining fitness, further fueling market growth. Government initiatives promoting healthy lifestyles and the expansion of e-commerce platforms make fitness equipment more accessible. Consequently, the Asia-Pacific market is witnessing substantial growth, reflecting a robust demand for home and commercial fitness equipment.

The current report Scope analyzes Fitness Equipment Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Fitness Equipment Market

According to Cognitive Market Research, the global Fitness Equipment market size was estimated at USD 17548.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 7019.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Fitness Equipment market with a market size of USD 5538.21 million in 2024 and is projected to grow at a CAGR of 4.0% during the forecast period. The demand for fitness equipment in the US is driven by a growing focus on personal health and wellness, coupled with increased home gym setups.
• The Canada Fitness Equipment market had a market share of USD 842.31 million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. In Canada, the demand for cardiovascular fitness equipment is driven by growing health awareness and a focus on preventive wellness.
• The Mexico Fitness Equipment market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 638.75 million in 2024.

Europe Fitness Equipment Market

According to Cognitive Market Research, the global Fitness Equipment market size was estimated at USD 17548.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 5264.46 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.

• The United Kingdom Fitness Equipment market had a market share of USD 884.43 million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period. Increasing consumer interest in home fitness solutions and the growth of corporate wellness programs are contributing to the UK market's expansion.
• The France Fitness Equipment market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 484.33 million in 2024.
• According to Cognitive Market Research, the German Fitness Equipment market size was valued at USD 1042.36 million in 2024 and is projected to grow at a CAGR of 4.7% during the forecast period. In Germany, the fitness equipment market experiences strong demand from the commercial sector, especially health clubs and gyms, which invest significantly in a wide range of advanced equipment.
• The Italy Fitness Equipment market is projected to witness growth at a CAGR of 3.9% during the forecast period, with a market size of USD 452.74 million in 2024.
• The Russia Fitness Equipment market is projected to witness growth at a CAGR of 3.5% during the forecast period, with a market size of USD 815.99 million in 2024.
• The Spain Fitness Equipment market is projected to witness growth at a CAGR of 3.6% during the forecast period with a market size of USD 431.69 million in 2024
• The Luxembourg Fitness Equipment market is projected to witness growth at a CAGR of 4.6% during the forecast period, with a market size of USD 163.20 million in 2024.
• The Portugal Fitness Equipment market is projected to witness growth at a CAGR of 4.3% during the forecast period, with a market size of USD 110.55 million in 2024.
• The Greece Fitness Equipment market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD 63.17 million in 2024.
• Rest of Europe's Fitness Equipment market is projected to witness growth at a CAGR of 3.2% during the forecast period, with a market size of USD 815.99 million in 2024.

Asia Pacific Fitness Equipment Market

According to Cognitive Market Research, the global Fitness Equipment market size was estimated at USD 17548.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 4036.09 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Fitness Equipment market size was valued at USD 1816.24 million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. In China, the fitness equipment market is increasingly focused on innovative technology, with advancements such as AI-driven workouts and smart equipment enhancing user experience.
• The Japan Fitness Equipment market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 556.98 million in 2024.
• The India Fitness Equipment market had a market share of USD 484.33 million in 2024 and is projected to grow at a CAGR of 9.8% during the forecast period. Increasing health awareness and rising disposable incomes are fueling investments in advanced fitness solutions across these end-user sectors in India.
• The South Korean Fitness Equipment market is projected to witness growth at a CAGR of 7.1% during the forecast period, with a market size of USD 403.61 million in 2024.
• The Australian Fitness Equipment market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 209.88 million in 2024.
• The South East Asia Fitness Equipment market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD 278.49 million in 2024.
• The Rest of Asia Pacific Fitness Equipment market is projected to witness growth at a CAGR of 7.8% during the forecast period, with a market size of USD 286.56 million in 2024.

South America Fitness Equipment Market

According to Cognitive Market Research, the global Fitness Equipment market size was estimated at USD 17548.2 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 877.41 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031 .

• According to Cognitive Market Research, the Brazil Fitness Equipment market size was valued at USD 375.53 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. The incorporation of advanced technologies such as IoT and AI for customized fitness experiences and real-time tracking of performance in Brazil.
• Argentina's Fitness Equipment market had a market share of USD 147.40 million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. Fitness equipment is becoming more and more in demand in Argentina as a result of expanding health consciousness, urbanization, and interest in at-home workouts—especially in light of the country's economic difficulties and erratic gym accessibility.
• Colombia's Fitness Equipment market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 78.09 million in 2024.
• Peru Fitness Equipment market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD 71.95 million in 2024.
• Chile's Fitness Equipment market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 63.17 million in 2024.
• The Rest of Latin America's Fitness Equipment market is projected to witness growth at a CAGR of 4.5% during the forecast period, with a market size of USD 141.26 million in 2024.

Middle East and Africa Fitness Equipment Market

According to Cognitive Market Research, the global Fitness Equipment market size was estimated at USD 17548.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 350.96 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.

• The GCC Countries Fitness Equipment market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 150.21 million in 2024. In GCC countries, key Players are enhancing their market presence through strategic investments and partnerships. They are prioritizing the development of advanced technologies, such as IoT-enabled devices and smart fitness solutions, to improve user experience and maintain competitiveness.
• The Egypt Fitness Equipment market is projected to witness growth at a CAGR of 6.0% during the forecast period, with a market size of USD 36.85 million in 2024.
• The South Africa Fitness Equipment market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 55.45 million in 2024. The fitness equipment market in South Africa is strengthened by government initiatives promoting health and wellness, such as community fitness programs and public health campaigns.
• The Turkey Fitness Equipment market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 30.18 million in 2024.
• The Nigeria Fitness Equipment market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD 36.85 million in 2024.
• The Rest of the MEA Fitness Equipment market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 41.41 million in 2024.

Fitness Equipment Market Analysis

Fitness Equipment Market Type Segment Analysis

According to Cognitive Market Research, the cardiovascular training equipment segment is expected to dominate the market over the projected period. This segment includes treadmills, stationary cycles, and elliptical trainers. Innovative features and technological advancements in these machines are driving market growth. The integration of wearable devices and fitness apps has boosted demand for cardiovascular equipment that is compatible with IoT, cloud computing, and mobile applications. This seamless tech integration enhances user experience and tracking capabilities, allowing users to monitor their progress and health metrics in real time. The convenience and advanced functionalities offered by these smart machines make them highly appealing to fitness enthusiasts and contribute to their market dominance.

Strength training equipment emerges as the fastest-growing category in the Fitness Equipment market. 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 incorporating smart technology into their equipment to monitor progress, provide feedback on form, customize workouts, and enhance user engagement. For example, PRIME Fitness USA's SmartStrength technology allows users to train muscles in various positions for optimal results. This innovation benefits athletes, fitness enthusiasts, and anyone looking to maximize their strength training routines, making it a valuable addition to the fitness industry.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Fitness Equipment Industry. Request a Free Sample PDF!

Fitness Equipment Market End User Segment Analysis

According to Cognitive Market Research, the home consumers segment dominated the fitness equipment market over the forecasted period. This growth is fueled by key trends such as the rise of connected home devices and a heightened focus on health and wellness. The popularity of online fitness platforms, offering diverse workout options and fostering community among users, has further boosted demand. IoT-enabled fitness equipment, which allows for enhanced tracking and motivation, is particularly sought after. Additionally, functional fitness, which emphasizes exercises for everyday activities, is gaining popularity for its overall health benefits. These trends collectively drive the rapid expansion of the home gym equipment sector.

The health clubs/gyms segment is projected to be the fastest-growing segment in the fitness equipment market. This growth is driven by an increasing emphasis on fitness and wellness among consumers and a rise in membership at gyms and fitness centers. Health clubs are investing in advanced equipment and technologies to offer diverse workout options and enhance member experiences. The demand for gym equipment is fueled by the need for modern, efficient machines that cater to various fitness goals. Additionally, the expansion of boutique fitness studios and specialized fitness centers contributes to the rising demand for high-quality gym equipment, reflecting a robust and growing market segment.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Fitness Equipment Price Point Segment Analysis

Fitness Equipment Market Price Point Segment Analysis

According to Cognitive Market Research, the mass price point segment dominated the fitness equipment market over the forecasted period. This is due to its affordability and extensive appeal to a diverse consumer base. Mass-market equipment typically features budget-friendly options that attract cost-conscious buyers. These products are widely distributed through various retail channels, making them accessible to a broad audience. The emphasis on affordability ensures that mass-market equipment meets the needs of individuals seeking effective fitness solutions without significant financial commitment. This segment’s dominance is further supported by its ability to cater to a wide range of fitness levels and preferences, making it a popular choice among consumers across different demographics.

The premium/luxury price point segment is projected to be the fastest-growing segment in the fitness equipment market. The increasing disposable incomes and a rising appetite for high-end, feature-rich products enhance this segment's growth. Consumers are drawn to these premium options for their advanced technologies and superior materials, which provide a more immersive and effective workout experience. High-end equipment often boasts innovative features like personalized training programs, real-time performance tracking, and aesthetically pleasing designs, enhancing both functionality and appeal. This segment caters to individuals seeking top-notch performance and exclusive features, reflecting a broader trend toward investing in high-quality, technologically advanced fitness solutions.

• Premium/Luxury
• Mass

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

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An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile & Transportation vertical.

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