GITNUX REPORT 2024

Global Fitness Equipment Industry: Market Size, Trends, and Projections

Exploring the Evolving Fitness Equipment Industry: Growth, Trends, and Projections Unveiled in Latest Report.

Author: Jannik Lindner

First published: 7/17/2024

Statistic 1

The commercial fitness equipment market is expected to reach $15.7 billion by 2026

Statistic 2

The global gym membership market size was valued at $96.7 billion in 2020

Statistic 3

The global fitness and recreational sports centers market is expected to grow from $83.68 billion in 2020 to $110.38 billion in 2025

Statistic 4

The global fitness equipment market for commercial use is expected to reach $6.8 billion by 2026

Statistic 5

The global fitness equipment market for hotels and resorts is expected to grow at a CAGR of 5.2% from 2021 to 2026

Statistic 6

The global fitness equipment market for corporate wellness programs is expected to reach $2.4 billion by 2026

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The global fitness equipment market for educational institutions is expected to grow at a CAGR of 4.9% from 2021 to 2026

Statistic 8

The global fitness equipment market for wellness centers is expected to grow at a CAGR of 6.7% from 2021 to 2026

Statistic 9

The global fitness equipment market for cruise ships and resorts is expected to reach $0.6 billion by 2026

Statistic 10

The global fitness equipment market for community centers is expected to grow at a CAGR of 4.8% from 2021 to 2026

Statistic 11

The global fitness equipment market for personal trainers and small studios is expected to reach $1.3 billion by 2026

Statistic 12

The global fitness app market size was valued at $4.4 billion in 2020

Statistic 13

The online fitness market is expected to grow at a CAGR of 33.1% from 2021 to 2028

Statistic 14

The global fitness app market is expected to reach $14.64 billion by 2027

Statistic 15

The global fitness and gym management software market is expected to reach $546.16 million by 2027

Statistic 16

The global virtual fitness market is expected to reach $59.23 billion by 2027

Statistic 17

Cardiovascular training equipment accounted for the largest revenue share of 52.9% in 2020

Statistic 18

Treadmills are the most popular type of fitness equipment, accounting for 25% of sales

Statistic 19

Strength training equipment market is projected to grow at a CAGR of 4.8% from 2021 to 2028

Statistic 20

The yoga equipment market is projected to reach $23.2 billion by 2026

Statistic 21

The elliptical trainer market is expected to grow at a CAGR of 3.8% from 2021 to 2026

Statistic 22

The global pilates equipment market is expected to reach $396.3 million by 2027

Statistic 23

The global resistance bands market is expected to reach $1.9 billion by 2027

Statistic 24

The global fitness equipment market for strength training is expected to reach $2.3 billion by 2026

Statistic 25

The global fitness equipment market for cardiovascular training is expected to reach $7.5 billion by 2026

Statistic 26

The global fitness equipment market for group training is expected to grow at a CAGR of 6.8% from 2021 to 2026

Statistic 27

The global fitness equipment market for rehabilitation and physical therapy is expected to reach $3.1 billion by 2026

Statistic 28

The global fitness equipment market for outdoor fitness is expected to grow at a CAGR of 7.1% from 2021 to 2026

Statistic 29

The global fitness equipment market for children and youth is expected to reach $1.2 billion by 2026

Statistic 30

The global fitness equipment market for seniors and active aging is expected to grow at a CAGR of 5.7% from 2021 to 2026

Statistic 31

The global fitness equipment market for medical and clinical settings is expected to reach $2.7 billion by 2026

Statistic 32

The global fitness equipment market for military and defense is expected to grow at a CAGR of 4.5% from 2021 to 2026

Statistic 33

The global fitness equipment market for fire departments and emergency services is expected to reach $0.9 billion by 2026

Statistic 34

The global fitness equipment market for sports teams and athletes is expected to grow at a CAGR of 6.3% from 2021 to 2026

Statistic 35

The global fitness equipment market for rehabilitation centers is expected to reach $1.5 billion by 2026

Statistic 36

The global fitness equipment market for physical therapy clinics is expected to grow at a CAGR of 5.1% from 2021 to 2026

Statistic 37

The global fitness equipment market for chiropractic offices is expected to reach $0.7 billion by 2026

Statistic 38

The global fitness equipment market for CrossFit and functional training is expected to grow at a CAGR of 7.5% from 2021 to 2026

Statistic 39

The global fitness equipment market for yoga and Pilates studios is expected to reach $0.8 billion by 2026

Statistic 40

The global fitness equipment market for martial arts and boxing gyms is expected to grow at a CAGR of 5.9% from 2021 to 2026

Statistic 41

The global fitness equipment market for swimming pools and aquatic centers is expected to reach $1.1 billion by 2026

Statistic 42

The global fitness equipment market for cycling studios and spinning classes is expected to grow at a CAGR of 6.5% from 2021 to 2026

Statistic 43

The global fitness equipment market for group exercise classes is expected to reach $2.0 billion by 2026

Statistic 44

The home fitness equipment market is projected to reach $14.7 billion by 2028

Statistic 45

The global home gym equipment market is expected to grow at a CAGR of 4.8% from 2021 to 2026

Statistic 46

The global fitness equipment market for home use is expected to reach $8.9 billion by 2026

Statistic 47

The global fitness equipment market for apartment complexes and residential buildings is expected to reach $1.8 billion by 2026

Statistic 48

The fitness equipment market is expected to grow at a CAGR of 3.7% from 2021 to 2028

Statistic 49

The global fitness equipment market size was valued at USD 11.5 billion in 2020

Statistic 50

The global sports equipment market size was valued at $323.4 billion in 2020

Statistic 51

North America dominated the market with a revenue share of 39.2% in 2020

Statistic 52

The global fitness equipment market in North America is expected to reach $5.9 billion by 2025

Statistic 53

The global fitness equipment market in Europe is expected to reach $4.6 billion by 2025

Statistic 54

The global fitness equipment market in Asia Pacific is expected to grow at a CAGR of 7.8% from 2020 to 2025

Statistic 55

The global smart fitness equipment market size was valued at $13.5 billion in 2020

Statistic 56

The wearable fitness tracker market is expected to reach $91.98 billion by 2027

Statistic 57

The global fitness tracker market size was valued at $36.34 billion in 2020

Statistic 58

The global smart gym equipment market is expected to reach $29.8 billion by 2025

Statistic 59

The global smart sports equipment market is expected to reach $12.0 billion by 2026

Statistic 60

The global fitness wearables market is expected to reach $138.7 billion by 2028

Statistic 61

The global smart fitness mirror market is expected to reach $5.4 billion by 2027

Statistic 62

The global fitness tracker market is expected to grow at a CAGR of 15.2% from 2021 to 2028

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Summary

  • The global fitness equipment market size was valued at USD 11.5 billion in 2020
  • The fitness equipment market is expected to grow at a CAGR of 3.7% from 2021 to 2028
  • Cardiovascular training equipment accounted for the largest revenue share of 52.9% in 2020
  • North America dominated the market with a revenue share of 39.2% in 2020
  • The home fitness equipment market is projected to reach $14.7 billion by 2028
  • Treadmills are the most popular type of fitness equipment, accounting for 25% of sales
  • The global smart fitness equipment market size was valued at $13.5 billion in 2020
  • The commercial fitness equipment market is expected to reach $15.7 billion by 2026
  • Strength training equipment market is projected to grow at a CAGR of 4.8% from 2021 to 2028
  • The global fitness app market size was valued at $4.4 billion in 2020
  • The wearable fitness tracker market is expected to reach $91.98 billion by 2027
  • The yoga equipment market is projected to reach $23.2 billion by 2026
  • The global gym membership market size was valued at $96.7 billion in 2020
  • The online fitness market is expected to grow at a CAGR of 33.1% from 2021 to 2028
  • The global sports equipment market size was valued at $323.4 billion in 2020

In a world where muscles are the new currency, the fitness equipment industry is pumping iron and cashing in on the gains like never before. With a global market size flexing at a whopping USD 11.5 billion in 2020 and set to hit even bigger numbers, its clear that sweat equity is paying off. Cardiovascular training reigns supreme while treadmills run the show, proving that in the gym business, the only way is up – both in terms of potential gains and incline settings. So, grab your dumbbells and get ready to crunch some numbers because this industry is shaping up to be a real heavy lifter.

Commercial Fitness

  • The commercial fitness equipment market is expected to reach $15.7 billion by 2026
  • The global gym membership market size was valued at $96.7 billion in 2020
  • The global fitness and recreational sports centers market is expected to grow from $83.68 billion in 2020 to $110.38 billion in 2025
  • The global fitness equipment market for commercial use is expected to reach $6.8 billion by 2026
  • The global fitness equipment market for hotels and resorts is expected to grow at a CAGR of 5.2% from 2021 to 2026
  • The global fitness equipment market for corporate wellness programs is expected to reach $2.4 billion by 2026
  • The global fitness equipment market for educational institutions is expected to grow at a CAGR of 4.9% from 2021 to 2026
  • The global fitness equipment market for wellness centers is expected to grow at a CAGR of 6.7% from 2021 to 2026
  • The global fitness equipment market for cruise ships and resorts is expected to reach $0.6 billion by 2026
  • The global fitness equipment market for community centers is expected to grow at a CAGR of 4.8% from 2021 to 2026
  • The global fitness equipment market for personal trainers and small studios is expected to reach $1.3 billion by 2026

Interpretation

In a world where crunches and squats reign supreme, the fitness equipment industry is flexing its muscles like never before. With numbers that would make any gym bro drop their protein shake in awe, it's clear that the business of getting swole is booming. From corporate wellness programs to cruise ships offering more than just buffets, the global fitness equipment market is stretching its reach to every nook and dumbbell-cranny. So, whether you're a personal trainer in a small studio or a wellness center enthusiast, the numbers don't lie - this industry is a heavyweight champion in its own right, squatting its way to a $15.7 billion empire by 2026. Just remember, no pain, no gain - both for your muscles and the market.

Digital Fitness

  • The global fitness app market size was valued at $4.4 billion in 2020
  • The online fitness market is expected to grow at a CAGR of 33.1% from 2021 to 2028
  • The global fitness app market is expected to reach $14.64 billion by 2027
  • The global fitness and gym management software market is expected to reach $546.16 million by 2027
  • The global virtual fitness market is expected to reach $59.23 billion by 2027

Interpretation

As the world continues to sweat it out in pursuit of fitness amidst the chaos of daily life, the numbers don't lie: the fitness industry is flexing its muscles like never before. With the global fitness app market projected to quadruple in value by 2027 and the online fitness market set to sprint ahead at an eye-watering compound annual growth rate of 33.1%, it seems like even our dumbbells might start feeling a bit outdated. As gym rats migrate to virtual platforms and gym managers embrace software solutions to streamline operations, it's clear that the era of workout procrastination is getting a digital smackdown. The only question remaining: can our enthusiasm keep up with the exponential growth of the fitness industry, or will we all be left panting for air in its wake?

Equipment Types

  • Cardiovascular training equipment accounted for the largest revenue share of 52.9% in 2020
  • Treadmills are the most popular type of fitness equipment, accounting for 25% of sales
  • Strength training equipment market is projected to grow at a CAGR of 4.8% from 2021 to 2028
  • The yoga equipment market is projected to reach $23.2 billion by 2026
  • The elliptical trainer market is expected to grow at a CAGR of 3.8% from 2021 to 2026
  • The global pilates equipment market is expected to reach $396.3 million by 2027
  • The global resistance bands market is expected to reach $1.9 billion by 2027
  • The global fitness equipment market for strength training is expected to reach $2.3 billion by 2026
  • The global fitness equipment market for cardiovascular training is expected to reach $7.5 billion by 2026
  • The global fitness equipment market for group training is expected to grow at a CAGR of 6.8% from 2021 to 2026
  • The global fitness equipment market for rehabilitation and physical therapy is expected to reach $3.1 billion by 2026
  • The global fitness equipment market for outdoor fitness is expected to grow at a CAGR of 7.1% from 2021 to 2026
  • The global fitness equipment market for children and youth is expected to reach $1.2 billion by 2026
  • The global fitness equipment market for seniors and active aging is expected to grow at a CAGR of 5.7% from 2021 to 2026
  • The global fitness equipment market for medical and clinical settings is expected to reach $2.7 billion by 2026
  • The global fitness equipment market for military and defense is expected to grow at a CAGR of 4.5% from 2021 to 2026
  • The global fitness equipment market for fire departments and emergency services is expected to reach $0.9 billion by 2026
  • The global fitness equipment market for sports teams and athletes is expected to grow at a CAGR of 6.3% from 2021 to 2026
  • The global fitness equipment market for rehabilitation centers is expected to reach $1.5 billion by 2026
  • The global fitness equipment market for physical therapy clinics is expected to grow at a CAGR of 5.1% from 2021 to 2026
  • The global fitness equipment market for chiropractic offices is expected to reach $0.7 billion by 2026
  • The global fitness equipment market for CrossFit and functional training is expected to grow at a CAGR of 7.5% from 2021 to 2026
  • The global fitness equipment market for yoga and Pilates studios is expected to reach $0.8 billion by 2026
  • The global fitness equipment market for martial arts and boxing gyms is expected to grow at a CAGR of 5.9% from 2021 to 2026
  • The global fitness equipment market for swimming pools and aquatic centers is expected to reach $1.1 billion by 2026
  • The global fitness equipment market for cycling studios and spinning classes is expected to grow at a CAGR of 6.5% from 2021 to 2026
  • The global fitness equipment market for group exercise classes is expected to reach $2.0 billion by 2026

Interpretation

In a world where treadmills reign supreme and yoga mats are the new must-have accessory, the fitness equipment industry is flexing its muscles in all directions. From pumping iron to finding your zen, the market is seeing explosive growth across various sectors, promising a future where even resistance bands have their day in the sun. As strength training machines and elliptical trainers race towards profit peaks, it seems the only thing not breaking a sweat in this fitness frenzy is the bank accounts of the industry giants. So whether you're a senior seeking gains or a CrossFit fanatic in search of the ultimate workout, one thing is clear – in the fitness equipment market, there's a lucrative niche for every body.

Home Fitness

  • The home fitness equipment market is projected to reach $14.7 billion by 2028
  • The global home gym equipment market is expected to grow at a CAGR of 4.8% from 2021 to 2026
  • The global fitness equipment market for home use is expected to reach $8.9 billion by 2026
  • The global fitness equipment market for apartment complexes and residential buildings is expected to reach $1.8 billion by 2026

Interpretation

In a world where the phrase "Netflix and chill" has evolved into "Netflix and treadmill," the fitness equipment industry is flexing its muscles. As the numbers show, the allure of shaping up in the comfort of one's home is gaining serious momentum, with projected billions swirling around the industry. With the global home gym market set to pump up at a steady rate, it seems that the days of crowded gyms and sweaty strangers might be a thing of the past. Whether you're into lifting weights or just want to justify binge-watching your favorite shows by pedaling away on a stationary bike, the message is clear: sweat equity is the new currency, and the market is ripe for the picking.

Market Growth

  • The fitness equipment market is expected to grow at a CAGR of 3.7% from 2021 to 2028

Interpretation

Ah, the fitness equipment industry is pumping iron and flexing its financial muscles with a projected growth rate of 3.7% from 2021 to 2028. It seems like people are not just running on the treadmills, but also running to the stores to invest in their physical well-being. Looks like the world is gearing up to sweat it out and bulk up, proving that in the battle of the bulge, the fitness industry is always a heavyweight contender.

Market Size

  • The global fitness equipment market size was valued at USD 11.5 billion in 2020
  • The global sports equipment market size was valued at $323.4 billion in 2020

Interpretation

In a world where spending on bicep curls competes with splurging on soccer balls, the fitness equipment industry, valued at a humble USD 11.5 billion, might seem like the underdog next to the powerhouse that is the global sports equipment market at a staggering $323.4 billion. The numbers may imply that people are more inclined to showcase their athleticism on the field than in the gym, but perhaps it's a sign that in the game of life, staying active and healthy will always be the ultimate goal, whether you're lifting weights or kicking a ball.

Regional Analysis

  • North America dominated the market with a revenue share of 39.2% in 2020
  • The global fitness equipment market in North America is expected to reach $5.9 billion by 2025
  • The global fitness equipment market in Europe is expected to reach $4.6 billion by 2025
  • The global fitness equipment market in Asia Pacific is expected to grow at a CAGR of 7.8% from 2020 to 2025

Interpretation

It seems that North America is flexing its muscles in the fitness equipment industry, locking down 39.2% of the market share in 2020. With projections showing the region poised to hit a hefty $5.9 billion by 2025, it's clear that the North American market is putting in the reps and seeing gains. Meanwhile, Europe is also looking to pump up its presence, aiming for a $4.6 billion market share by 2025. And let's not forget about Asia Pacific, which is steadily increasing its fitness game with an impressive 7.8% growth rate expected over the next few years. It appears that the global fitness equipment industry is shaping up to be a competitive arena, with each region vying for a spot on the winner's podium.

Smart Fitness

  • The global smart fitness equipment market size was valued at $13.5 billion in 2020
  • The wearable fitness tracker market is expected to reach $91.98 billion by 2027
  • The global fitness tracker market size was valued at $36.34 billion in 2020
  • The global smart gym equipment market is expected to reach $29.8 billion by 2025
  • The global smart sports equipment market is expected to reach $12.0 billion by 2026
  • The global fitness wearables market is expected to reach $138.7 billion by 2028
  • The global smart fitness mirror market is expected to reach $5.4 billion by 2027
  • The global fitness tracker market is expected to grow at a CAGR of 15.2% from 2021 to 2028

Interpretation

The numbers don't lie: the fitness equipment industry is shaping up to be the heavyweight champion of the tech world. With smart fitness equipment, wearable trackers, and even smart gym mirrors becoming all the rage, it seems like the future of fitness is not just about getting ripped, but staying connected and tech-savvy while doing so. It's like the industry is saying, "Hey, why just break a sweat when you can break a record and track it too?" So, lace up those smart sneakers and get ready to hit the gym because the only thing getting bigger than our gains is the market value of fitness tech.

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