[Latest] Global Gym Equipment Market Size/Share Worth USD 27,420.9 Million by 2033 at a 4.8% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)
Austin, TX, USA, June 19, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Gym Equipment Market Size, Trends and Insights By Product Type (Cardiovascular Equipment, Strength Training Equipment, Others), By Type of Facility (Residential Fitness, Gyms/Fitness Centers, Health Clubs/Spas, Hotels/Hospitality, Corporates/Workplaces), By End Users (Home/Residential, Commercial), By Distribution Channel (Online, Offline), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.
“According to the latest research study, the demand of global Gym Equipment Market size & share was valued at approximately USD 17,158.1 Million in 2023 and is expected to reach USD 17,981.7 Million in 2024 and is expected to reach a value of around USD 27,420.9 Million by 2033, at a compound annual growth rate (CAGR) of about 4.8% during the forecast period 2024 to 2033.”
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Gym Equipment Market: Growth Factors and Dynamics
- Increasing Health Awareness: Growing awareness about the importance of fitness and healthy lifestyles is a significant driver of the gym equipment market. With rising concerns about obesity, sedentary lifestyles, and chronic diseases, more individuals are turning to gym equipment to maintain their health and fitness levels.
- Rise in Fitness Consciousness: The increasing trend of fitness consciousness, driven by social media influencers, fitness bloggers, and celebrity endorsements, fuels the demand for gym equipment. Consumers aspire to achieve their fitness goals and emulate the lifestyles of their fitness role models, leading to higher gym equipment purchases.
- Shift towards Home Workouts: The COVID-19 pandemic has accelerated the trend towards home workouts, with many individuals investing in gym equipment for home use due to gym closures and safety concerns. This shift towards home fitness solutions has led to increased demand for home gym equipment such as treadmills, exercise bikes, and weightlifting sets.
- Technological Advancements: Technological innovations in gym equipment, such as interactive screens, virtual training programs, and wearable fitness trackers, enhance user experience and engagement. Integration with smartphone apps and fitness tracking software allows users to monitor their progress and customize their workouts, driving the adoption of advanced gym equipment.
- Rise of Boutique Gyms: The proliferation of boutique fitness studios specializing in niche workout experiences, such as high-intensity interval training (HIIT), cycling, and yoga, creates demand for specialized gym equipment tailored to these activities. Boutique gyms offer personalized experiences and premium equipment, attracting fitness enthusiasts willing to invest in their health and wellness.
- Urbanization and Lifestyle Changes: Urbanization, coupled with hectic lifestyles and limited time for traditional exercise routines, drives the demand for convenient fitness solutions. Compact and multifunctional gym equipment suitable for small living spaces, such as foldable treadmills and adjustable dumbbells, appeals to urban dwellers seeking convenient fitness options.
- Aging Population: The aging population, particularly in developed countries, contributes to the growth of the gym equipment market. As individuals age, there is a greater emphasis on maintaining mobility, strength, and overall health. This demographic segment seeks gym equipment that caters to their specific needs, such as low-impact cardio machines, strength training equipment with adjustable resistance.
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Gym Equipment Market: Partnership and Acquisitions
- In 2023, Life Fitness collaborated with Bayerwaldhof, a wellness hotel, to equip its new fitness facility with high-quality fitness equipment. This partnership aims to elevate the wellness experience for hotel guests by providing them with premium exercise solutions.
- In 2021, Johnson Health Tech (JHT) acquired Matrix Fitness South Africa, previously a distributor, establishing JHT as the first fitness equipment manufacturer with a wholly owned subsidiary in Africa. This strategic move strengthens JHT’s presence and operations in the African fitness equipment market.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 17,981.7 Million |
| Projected Market Size in 2033 | USD 27,420.9 Million |
| Market Size in 2023 | USD 17,158.1 Million |
| CAGR Growth Rate | 4.8% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Product Type, Type of Facility, End Users, Distribution Channel and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
(A free sample of the Gym Equipment report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request.
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
- Includes Tables and figures have been updated.
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Gym Equipment report has been modified to include the COVID-19 impact study prior to delivery.)
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Gym Equipment Market: COVID-19 Analysis
The COVID-19 pandemic has significantly impacted the Gym Equipment Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Gym Closures and Restrictions: COVID-19 led to widespread closures of gyms and fitness centers worldwide, resulting in a significant decline in gym equipment sales as commercial facilities suspended operations and postponed equipment purchases.
- Shift towards Home Workouts: With the closure of gyms and restrictions on outdoor activities, individuals turned to home workouts as an alternative. This surge in demand for home gym equipment, such as treadmills, stationary bikes, and dumbbells, disrupted the traditional commercial gym equipment market.
- Rise in Home Gym Setup: The pandemic accelerated the trend towards home workouts, leading to a surge in demand for home gym equipment. Manufacturers responded by ramping up production and expanding product offerings to meet the increased demand for treadmills, ellipticals, strength training machines, and other home fitness equipment.
- Hybrid Fitness Solutions: As gyms gradually reopened with capacity restrictions and safety measures in place, hybrid fitness solutions emerged, combining in-person gym workouts with virtual training options. Gym equipment manufacturers integrated technology features such as touchscreen consoles, virtual training apps, and live streaming capabilities to enhance the gym experience and attract customers back to fitness facilities.
- Focus on Health and Safety: To reassure consumers and mitigate health concerns, gym equipment manufacturers implemented enhanced cleaning protocols, antimicrobial coatings, touchless features, and social distancing measures in their equipment designs. These initiatives aimed to instill confidence among gym-goers and create a safe workout environment conducive to health and fitness.
- Promotional Offers and Discounts: To stimulate demand and encourage gym equipment purchases, manufacturers and retailers offered promotional discounts, financing options, and bundled packages. These incentives incentivized consumers to invest in home fitness equipment and contributed to the market’s recovery post-pandemic.
- Adaptation to Changing Consumer Preferences: Gym equipment manufacturers adapted their product offerings to align with changing consumer preferences, focusing on compact, versatile, and space-saving designs suitable for home gyms and smaller living spaces. By catering to evolving consumer needs and lifestyle trends, manufacturers regained momentum and accelerated market recovery.
In conclusion, the COVID-19 pandemic has had a mixed impact on the Gym Equipment Market, with some challenges and opportunities arising from the pandemic.
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Key questions answered in this report:
- What is the size of the Gym Equipment market and what is its expected growth rate?
- What are the primary driving factors that push the Gym Equipment market forward?
- What are the Gym Equipment Industry's top companies?
- What are the different categories that the Gym Equipment Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Gym Equipment market sample report and company profiles?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2024−2033
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Gym Equipment Market – Regional Analysis
The Gym Equipment Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:
- North America: In North America, the Gym Equipment Market is characterized by a strong emphasis on natural and organic ingredients, as well as innovative flavors and formulations. Consumers in this region prioritize health and wellness, driving demand for premium-quality gummy vitamins with clean labels and transparent sourcing. Trending flavors include berry blends, citrus varieties, and tropical fruits, while formulations targeting immunity, stress relief, and gut health gain traction.
- Europe: The Gym Equipment Market in Europe is witnessing a shift towards functional and fortified formulations, with an emphasis on traditional and herbal ingredients. Consumers seek gummy vitamins enriched with botanical extracts, vitamins, and minerals to address specific health concerns such as joint health, cognitive function, and cardiovascular support. Trends also include eco-friendly packaging options and sustainable sourcing practices to align with European consumers’ environmental values.
- Asia-Pacific: In the Asia-Pacific region, the Gym Equipment Market is experiencing rapid growth driven by increasing health awareness and rising disposable incomes. Consumers in this region prefer gummy vitamins with unique and exotic flavors, such as lychee, mango, and green tea, reflecting regional taste preferences. Additionally, there is a growing demand for gummy vitamins fortified with traditional Asian ingredients like ginseng, goji berry, and turmeric for holistic health benefits.
- Latin America, Middle East, and Africa (LAMEA): In the LAMEA region, the Gym Equipment Market is characterized by a focus on affordability and accessibility, with a preference for value-oriented products. Consumers in this region seek gummy vitamins with familiar flavors such as citrus, pineapple, and passion fruit, as well as formulations tailored to address prevalent health issues like vitamin deficiencies and digestive health concerns. Trending products include multivitamins for general wellness and immune-boosting gummy supplements.
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List of the prominent players in the Gym Equipment Market:
- Amer Sports Corporation
- Brunswick Corporation
- Core Health & Fitness LLC
- Cybex International Inc.
- Dyaco International Inc.
- ICON Health & Fitness Inc.
- Johnson Health Tech Co. Ltd.
- Life Fitness LLC
- Matrix Fitness
- Nautilus Inc.
- Precor Incorporated
- Technogym S.p.A.
- Torque Fitness LLC
- TRUE Fitness Technology Inc.
- Xponential Fitness Inc.
- Others
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The Gym Equipment Market is segmented as follows:
By Product Type
- Cardiovascular Equipment
- Strength Training Equipment
- Others
By Type of Facility
- Residential Fitness
- Gyms/Fitness Centers
- Health Clubs/Spas
- Hotels/Hospitality
- Corporates/Workplaces
By End Users
- Home/Residential
- Commercial
By Distribution Channel
- Online
- Offline
Click Here to Get a Free Sample Report of the Global Gym Equipment Market @ https://www.custommarketinsights.com/report/gym-equipment-market/
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
This Gym Equipment Market Research/Analysis Report Contains Answers to the following Questions.
- Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Gym Equipment Market? What are Their Company Profile, Product Information, and Contact Information?
- What Was the Global Market Status of the Gym Equipment Market? What Was the Capacity, Production Value, Cost and PROFIT of the Gym Equipment Market?
- What Is the Current Market Status of the Gym Equipment Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Gym Equipment Market by Considering Applications and Types?
- What Are Projections of the Global Gym Equipment Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is Gym Equipment Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is the Economic Impact On Gym Equipment Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Gym Equipment Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Gym Equipment Industry?
Click Here to Access a Free Sample Report of the Global Gym Equipment Market @ https://www.custommarketinsights.com/report/gym-equipment-market/
Reasons to Purchase Gym Equipment Market Report
- Gym Equipment Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
- Gym Equipment Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Gym Equipment Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- Gym Equipment Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.
Reasons for the Research Report
- The study provides a thorough overview of the global Gym Equipment market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
Buy this Premium Gym Equipment Research Report | Fast Delivery Available - [220+ Pages] @ https://www.custommarketinsights.com/report/gym-equipment-market/
What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Gym Equipment market analysis.
- The competitive environment of current and potential participants in the Gym Equipment market is covered in the report, as well as those companies' strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide Gym Equipment market should find this report useful. The research will be useful to all market participants in the Gym Equipment industry.
- Managers in the Gym Equipment sector are interested in publishing up-to-date and projected data about the worldwide Gym Equipment market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Gym Equipment products' market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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