Fitness Equipment Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Strength Training Equipment, Cardiovascular Training Equipment, Body Composition Analyzers, Fitness Monitoring Equipment, and Others), By Application (Weight Loss, Body Building, Physical Fitness, Mental Fitness, and Others), By Buyer Type (Individual, Institution, and Others), By Type (Outdoor and Indoor), By End User (Health Clubs/Gyms, Residential, Hotels, Corporates, Hospital, and Medical Centers, Public Institutions and Others), and Region Forecast 2019-2030.

Fitness Equipment Market size was valued at USD 33,583.6 million in 2023, growing at a CAGR of 3.9% 2024-2030. Moreover, the U.S. medical devices market is projected to grow significantly, reaching an estimated value of USD 14,096.3 million by 2030. The driving factor of the fitness equipment market due to increasing health awareness, home workout adoptions, and growing membership in gyms on account of lifestyle-related health issues fuel the market of the fitness equipment sector. Its restraints are represented by the high costs associated with fitness equipment and limited spaces at homes to accommodate it.

The opportunities in the market lie in technological advancements through smart and connected equipment, meeting the growing demands of personalized fitness experiences. Many of the market's key trends are at-home fitness, digital upgrades such as virtual training and performance tracking, and eco-friendly and multi-functional fitness equipment.

Fitness Equipment Market Segmentation Analysis

By Product Type: The leading product type in the fitness equipment market is the cardiovascular equipment segment, which includes treadmills, stationary bikes, and elliptical machines. This type of equipment is particularly popular because it improves cardiovascular health, weight management, and general fitness. More home workout activities have created further demand for these all-in-one machines, which can suit various levels of fitness, and so are suitable for convenient exercise at home.

By Application Type: The physical fitness segment is the leading market share in the fitness equipment market. This application encompasses a wide range of activities designed to enhance the overall wellness of any person such as cardiovascular conditioning, strength training, and flexibility-gaining exercises. An increasing interest in holistic health and fitness translates to the fact that consumers look for flexible fitness equipment that can accommodate numerous workouts. Therefore, this application will be one source where the increase in trend will be perpetuated due to the increased people's focus on living an active lifestyle.

By Buyer Type: The individual buyer is the most prominent segment in the fitness equipment market. Individual buyers are fitness enthusiasts and recreational users who buy equipment primarily for personal use, mostly at home, to work out. In line with this trend for health and self-sufficiency in accessing a fitness center, people invest in home fitness equipment, particularly cardio equipment and strength trainers. The COVID-19 pandemic has accelerated this trend further as more and more consumers seek a way out of gym facility alternatives.

By Type: The indoor fitness equipment segment dominates the fitness equipment market. Indoor equipment consists of machines like treadmills, stationary bikes, and resistance trainers, whose demand is gaining traction due to workouts being done from home, as well as the expansion of gym facilities. The ease and efficiency of working out indoors have further boosted its popularity, particularly during the COVID-19 pandemic, during which many consumers sought alternative places for outdoor workouts. Thus, the indoor segment has picked up momentum and drawn constant consumer interest.

By End User: The residential segment dominates the demand side of the fitness equipment market. Consumer preference toward investing in fitness equipment that allows them to maintain a quick and easy workout routine within their homes has been augmented by the growing popularity of home workout trends. Increased health awareness, the COVID-19 pandemic effect, and the quest for personal home workout environments have added immense pressure to residential fitness solutions. Thus, this trend focuses on adapting to the quest for keeping fit routines at home.

Key Players in the Fitness Equipment Market

The fitness equipment market size is inclusive of several companies such as Nautilus, Inc., Life Fitness, Johnson Health Tech, TECHNOGYM S.p.A, Impulse (Qingdao) Health Tech CO., LTD, Core Health & Fitness, Precor Incorporated, Afton, Shanghai Define Health Tech CO LTD, Realleader Fitness Co., Ltd, Shandong Aoxinde Fitness Equipment Co., Ltd., BFT Fitness, YanreFitness, FITKING FITNESS, and Fitline India.

Fitness Equipment Market Key Developments

• In Nov 2023, Nautilus, Inc. unveiled the BXT8J treadmill with JRNY adaptive fitness app availability at select online and in-store retail partners across that will provide customers with a comprehensive fitness solution at an affordable price point. The Bow Flex BXT8J treadmill is high-performance cardio and can pair the user's device to the JRNY adaptive fitness app, which enabled the company to expand its portfolio of products.