Fitness Equipment Market Analysis

Application (Weight Loss, Physical Fitness, Mental Fitness, Body Building)

The global fitness equipment market is segmented and analyzed for demand and supply by application into weight loss, physical fitness, mental fitness, body building, and others. Out of the five applications of fitness equipment, the weight loss segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the increasing prevalence of obesity and high levels of cholesterol. For the past three decades, obesity rates have been steadily rising around the globe. By 2025, the number of adults who are obese could reach 1 billion, or 12% of the world's population. Moreover, by 2030, 1 billion people worldwide, including one in five women and one in seven men, will be obese, as per the statistics of the Global Obesity Atlas 2022, issued by the International Obesity Federation.

Product Type (Cardiovascular Training Equipment, Strength Training Equipment, Fitness Monitoring Equipment)

The global fitness equipment market is also segmented and analyzed for demand and supply by product type into cardiovascular training equipment, strength training equipment, fitness monitoring equipment, and others. Amongst these four segments, the fitness monitoring equipment segment is expected to garner a significant share. The growth of the segment is attributed to the rising use of smart watches and fitness bands that monitor physical activity. The popularity of monitoring devices is increasing, as they help keep track of progress, boosts our fitness plans, and monitor our health status. Therefore, it is projected to surge the growth of the segment in the market. In 2020, around 21% of U.S. adults report wearing a smart watch or wearable fitness tracker on a regular basis. Additionally, nearly 31% of Americans who live in families with annual incomes of over USD 75,000 or more claim to regularly wear a smart watch or fitness tracker.

Our in-depth analysis of the global market includes the following segments: