Fitness Equipment Market – What Are The Main Factors That Contributing Towards Industry Growth?

Fitness equipment is any mechanical device or equipment used in sport or exercise to improve physical performance or strength by providing either adjustable or constant levels of force, either of a dynamic nature that can be exerted immediately (such as running) or of a static nature that requires adjustments (such as a bicycle). Treadmills, elliptical machines, step machines, exercise bicycles, recumbent bikes, treadmill monitors, rowing machines, and many other forms of equipment are prevalent. Gyms and private home exercise facilities, as well as public parks and recreational facilities, all use fitness equipment. Fitness equipment for the home is designed to provide low-impact aerobic workouts. Some items are available for rent or sale on the Internet. Rowing machines and exercise bicycles can give an all-over body workout, while Schwinn exercise bicycles can be used to target specific muscles.

Fitness equipment for home gyms can be classified into cardiovascular exercise bikes and rowers. Cardiovascular exercise bikes are designed to give a continuous, low-impact workout. The cardiovascular equipment has two main components including an engine and a flywheel. The flywheel may also include an automatic transmission and gear-changing mechanism.

In July 2021, iFIT, a leading fitness company in the United States, paid roughly $300 million for Sweat, a fitness platform for women, to expand the former's portfolio in the exercise equipment industry. The bulk of costly exercise equipment, such as tension knobs and heart rate grips, are technically irreparable, which can be a stumbling block in the fitness equipment market's progress.

The exercise equipment market, on the other hand, is being driven by a rise in inactive lifestyles and rising obesity rates. Additionally, due to an increase in the number of fitness service facilities and suppliers, the fitness equipment industry is expanding. To obtain as many clients as possible, market participants provide a variety of weight loss plans and offers.

Among the cluster of regional markets, the fitness equipment market in North America is expanding at a rapid pace on the account of growing client-base at the fitness centers in the presence of major market players. In July 2021, the fitness equipment providing company, Spirit Fitness, opened a 150,000 sq. ft. fitness center in Jonesboro, Arkansas, U.S. to expand the company’s operations in the North America region. Likewise, Asia Pacific is an emerging region for the fitness equipment market on the heels of growing incidences of cardiovascular disorders and increased consumption of junk foods.