Global Commercial Fitness Equipment Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Equipment Type (Cardio Equipment, Strength Training Equipment, Bodyweight Training Equipment, Gymnastics Training Equipment, Others), And By Geography - Forecasts From 2022 To 2027

The global commercial fitness equipment market was valued at US$3.750 billion in 2020. The market is projected to grow at a CAGR of 17.99% to attain a value of US$11.920 billion by 2027. The commercial fitness equipment market is growing very fast due to changing lifestyles and growing health consciousness among people. The increase in health awareness among people is making them join gyms and fitness clubs to improve their health and physique. Urbanization in the world is even increasing the demand and requirement for better facilities with increasing disposable income. The increasing number of fitness centres is a major driving factor for commercial fitness equipment. The rising prevalence of obesity and stress-related ailments is another factor that is bolstering the market growth of global commercial fitness equipment. The increasing obesity rate is forcing people to do exercise under proper guidance to improve their health. As a result, there is a rise in the number of people opting for gym services, which, in turn, is boosting the demand for commercial fitness equipment. As such, the growing obese population in various countries is also a driver for commercial fitness equipment. The sedentary lifestyle and hectic schedules have led people to start joining gyms and fitness centres for physical activities. The increasing stress among people due to a hectic work schedule has made people opt to do different fitness activities in fitness clubs.

The emerging trend of bodybuilding and personality development, especially among the younger generation, is increasing gym and fitness club membership, which is further increasing the demand for cardiovascular machines like treadmills and others, thus positively impacting the global commercial fitness equipment market growth during the forecast period.

People are being encouraged to improve their health by reducing unhealthy diets and physical inactivity as part of the growing initiative programmes aimed at raising health awareness.  For example, the Australian government has recently planned to invest USD 230 million in sports and physical activity for the next five years. Governments in various countries are also encouraging their citizens to adopt an active lifestyle while promoting programmes that include physical activities. This will even strengthen the links between the community and various sports and fitness organizations, thus driving the market growth of global commercial fitness equipment during the next five years.

The increasing advancement in technology has provided users with the ability to track their physical activities and gives them accurate details about the time spent on a single piece of equipment, its benefits, counting heart rate, calories, distance covered and many more things. This enables users to keep a better watch on their plans and to work accordingly. The investment in research and development in fitness equipment has increased the functionalities and improved the activities.

The global commercial fitness equipment market is segmented by equipment type and geography. On the basis of equipment type, the global commercial fitness equipment market is segmented as follows: cardio equipment, strength training equipment, bodyweight training equipment, gymnastics training equipment, and others.

Cardio and strength training equipment has a significant market share

The rising number of fitness studios around the world is significantly contributing to the growing global market for commercial fitness equipment. Cardiovascular and strength training equipment has a significant amount of market share. The increasing health diseases and high prevalence of obesity and diabetes across the world are making people join fitness clubs and do physical activities to improve their health. Cardiovascular equipment helps in improving the heart, burns fat and calories for weight loss, increases lung capacity, and reduces the risk of heart attack, high cholesterol, blood pressure, and many more things. People usually do a maximum of cardio exercises for strengthening themselves and for a fit body. The strength training equipment helps in weight control, provides relief from arthritis, better balance and fall prevention, and many more. Bodyweight training is done for bodybuilding, and the trend of bodybuilding among youths is increasing its market share. Gymnastic training equipment is used to improve flexibility and provide strength. Bodyweight training equipment and gymnastics training equipment both have a significant amount of market share in the forecast period.

By geography, North America has a significant share of the market

Regionally, the global commercial fitness equipment market is classified into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. North America is expected to have a significant market share in the global commercial fitness equipment market due to high awareness among people for improving their health and for maintaining a strong physique. The rising prevalence of obesity in North American countries due to unhealthy lifestyle factors is further pressurizing to opt for gym membership subscriptions. For instance, according to the report released by the World Obesity Federation (WOF), more than 10 million adults in Canada are projected to live with obesity in eight years from now.The Asia-Pacific region is expected to witness substantial regional market growth for commercial fitness equipment during the forecast period. The increasing health consciousness among people and increasing disposable income in developing countries like India and China are majorly boosting the demand for commercial fitness equipment in the Asia Pacific region. The urbanization in developing countries and changing lifestyles in the region are attracting many fitness chains to set up their facilities in various cities across APAC countries, thus bolstering the market growth of APAC commercial fitness equipment.

Key Developments

• In May 2019, Life Fitness, a global leader in commercial fitness equipment, announced that its parent company, Brunswick Corporation had got into an agreement to sell Brunswick’s Fitness business and related brands, including Life Fitness to KPS Capital Partners, LP.
• In April 2021, Pleton officially completed the acquisition of the leading commercial fitness equipment solutions provider, Precor. The acquisition helped the former consolidate its production capacity in the US and strengthened its R&D team. At the same time, the latter could penetrate the market rapidly. The transaction for the acquisition amounted to $420 million in cash.
• In November 2021,  Woven, the workplace management platform for multi-unit owners, and Matrix Fitness, the fastest-growing commercial fitness brand in the world, teamed up.  With these developments, Woven's asset and maintenance suite can now gather the data from any Matrix Fitness cardio equipment and develop a comprehensive 360-degree usage. All current and future Matrix customers who have purchased and subscribed to the Woven platform were eligible for the cloud-based integration as of November 1, 2021.
• In November 2021, Williams Racing' and Life Fitness, the industry pioneer in commercial fitness equipment, extended their 6-year partnership as the official fitness equipment provider to the British Formula One team for the ensuing five years. Owing to this development, the gym in William headquarters will be upgraded with the latest equipment from the Life Fitness portfolio, including Hammer Strength, Life Fitness, Cybex, and ICG.

COVID-19 Insights

COVID-19 had a significant impact on the global commercial fitness equipment market. The mandated lockdown and social distancing measures led to the closure of multiple fitness centres. The dread of the pandemic among consumers caused little or no traffic in the centres. Subsequently, the demand for equipment in the commercial segment significantly decreased.

Commercial Fitness Equipment Market Scope:

Report Metric	Details
Market Size Value in 2020	US$3.750 billion
Market Size Value in 2027	US$11.920 billion
Growth Rate	CAGR of 17.99% from 2020 to 2027
Base Year	2020
Forecast Period	2022–2027
Forecast Unit (Value)	USD Billion
Segments Covered	Equipment Type, And Geography
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered	ICON Health & Fitness, KPS Capital Partners LP, Johnson Health Tech Co., Technogym S.p.A, Amer Sports, Nautilus, Inc., Core Health and Fitness, LLC, TRUE Fitness Technology, Inc., Impulse (Qingdao) Health Tech Co., Ltd., Torque Fitness, LLC
Customization Scope	Free report customization with purchase

 

Key Market Segmentation

• By Equipment Type
  • Cardio Equipment
  • Strength Training Equipment
  • Bodyweight Training Equipment
  • Gymnastics Training Equipment
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Thailand
    • Taiwan
    • Indonesia
    • Others

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ICON Health & Fitness

KPS Capital Partners LP

Johnson Health Tech Co.

Technogym S.p.A

Amer Sports

Nautilus, Inc.

Core Health and Fitness, LLC

TRUE Fitness Technology, Inc.

Impulse (Qingdao) Health Tech Co., Ltd.

Torque Fitness, LLC