The Fitness Equipment Market is being driven by Increased demand for home fitness equipment
The Fitness Equipment Market is expected to grow at a CAGR of 6.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 4845 million. Fitness equipment manufacturing companies are strategically collaborating with technology providers to integrate app-based functionalities into their equipment. This trend is driven by consumer demand for smart, connected fitness solutions. In a notable move, FitLab, a leading performance lifestyle company, recently acquired Assault Fitness, an equipment manufacturer, and RPM Training, a performance equipment and apparel brand, to expand its offerings in the connected fitness market. By partnering with technology companies, fitness equipment manufacturers are enhancing their product offerings, catering to the evolving needs of tech-savvy consumers.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
224 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.7% |
Market growth 2025-2029 |
USD 4845 million |
Market structure |
market_structure.ucfirst |
YoY growth 2024-2025(%) |
5.8 |
Key countries |
US, China, Japan, India, Canada, South Korea, UK, Germany, Australia, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Fitness Equipment Market encompasses various technologies and devices designed to promote employee well-being and support healthy lifestyle choices. This includes app development for home workouts, tracking devices, online coaching, and virtual classes. Affordable options like smart home gyms, wearable trackers, and HD touchscreen workout machines offer personalized plans and virtual classes for muscle gain, weight loss, and strength training. Commercial exercise equipment such as stationary bikes, elliptical trainers, weight machines, and resistance equipment fall under this market, along with fitness technology, smart equipment, and gym devices. Fitness devices also prioritize mental health through innovative features like online coaching and wearable trackers.
The global leisure products market, a segment of the larger household durables industry, encompasses categories such as sports equipment, musical instruments, camping gear, recreational vehicles, bicycles, toys, and consumer games. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers of these products. Factors fueling market expansion include the expanding corporate wellness initiatives, the rising obese population, and the increasing popularity of e-commerce platforms for fitness equipment purchases. The proliferation of health and fitness clubs, with their membership numbers continuously on the rise, further bolsters market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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