Fitness Equipment Market Size By Equipment (Cardiovascular [Elliptical Machines, Treadmills, Exercise Bikes, Climbers], Strength Training [Weightlifting, Weights, Barbells & Ladders, Extension Machines, Power Racks]), By End-Use (Home, Health Clubs, Offic

Fitness Equipment Market Size By Equipment (Cardiovascular [Elliptical Machines, Treadmills, Exercise Bikes, Climbers], Strength Training [Weightlifting, Weights, Barbells & Ladders, Extension Machines, Power Racks]), By End-Use (Home, Health Clubs, Office, Hotel), COVID-19 Impact Analysis, Regional Outlook, Price Trend Analysis, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032

The global fitness equipment market is slated to expand significantly through 2032 owing to the mounting penetration of IoT on an international scale.

The established companies in the industry are emphasizing the delivery of cutting-edge exercise equipment through partnerships and acquisitions. Several businesses are working on wearables like connected equipment and fitness trackers that can inform gym staff when something happens. These can be added to cell phones and depend on the internet to perform properly. For instance, in April 2022, Core Health and Fitness purchased Wexer Holding LLC. Wexer will get money to expand its business to grow digital adoption in the global health club sector and consolidate the digital fitness category.

The fitness equipment market has been bifurcated in terms of equipment, end-use, and region.

Based on equipment, the elliptical machines segment is anticipated to grow considerably over the review timeline due to the increased understanding of the benefits of heart and muscle strengthening. Meanwhile, the exercise bikes segment is speculated to expand significantly credited to their small size and simplicity of installation in homes, stationary exercise bikes are becoming more and more popular. The bikes support weight loss, muscle building, calorie burning, and an aerobic effect.

With respect to end-use, the hotel segment garnered more than 5% of the market share in 2022 and is poised to propel steadily from 2023 to 2032 attributed to the global expansion of the hospitality industry which will in turn present growth prospects for the fitness equipment market as upscale lodgings build up workout facilities for health-conscious guests. Additionally, due to for the spike in on-demand fitness among frequent travelers leading an active lifestyle, hotel owners are increasingly integrating on-site gyms into their infrastructure.

From the regional perspective, the North America fitness equipment industry recorded approximately $5 billion valuation in 2022 and is expected to grow strongly through the forthcoming period ascribed to the favorable economic conditions in the United States and Canada encouraging the adoption of advanced technologies. The region's high disposable income, combined with the region's high priority for fitness, will have an impact on the fitness equipment market. With the presence of large technology firms, the region is expected to see an increase in demand for digitally connected workout experiences.

Meanwhile, the Middle East & Africa fitness equipment market is speculated to amass substantial expansion by the end of forecast duration owing to the rising popularity of strength fitness equipment among the younger generation to promote health and well-being will drive the MEA market forward.