The global fitness equipment market is anticipated to grow at a considerable CAGR of 3.4 % during the forecast period (2024-2031). Gym business witnessing increased investment activity is the key factor supporting the growth of the fitness equipment market over the forecast. The companies are coming up with future with investment in fitness equipment, which will provide growth opportunities to the market.
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For instance, in March 2022, The Lexicon Group, based in Pune, announced the acquisition of the MultiFit Gym for an undisclosed sum. The MultiFit has a presence in India, UK, and UAE with 23 fitness centers across 9 cities. The Lexicon Group of Institutes and MultiFit said that they have aggressive expansion plans for MultiFit and the chain would have 200 centers in five years in India and globally.
- In February 2022, Health, and fitness platform Cult.fit announced the acquisition of a majority stake in the Gold’s Gym fitness centers chain across India, in line with its plans to consolidate its position in the aggressively growing fitness industry. Cult.fit plans to continue scaling its business nationally, across non-metro cities and towns, as well as house brands such as Gold’s Gym into its network to further propel their growth in the coming years.
- In June 2021, Cult.fit announced the acquisition of Bengaluru-based connected fitness startup Tread to bolster its portfolio of hardware products. The acquisition of Tread, which had launched a smart fitness bike, will help Cult.fit to launch its hardware-at-home vertical. Tread’s hardware IP with Cult.fit’s digital content and computer vision tech will create an exciting experience for customers. Cult.fit will also help Tread with technology, customer reach, and offline distribution.
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Market Coverage
- Segment Covered-
o By Type
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- including Anta Sports Products, Ltd., Core Health & Fitness LLC, Icon Health & Fitness, Inc., Impulse Health Technology Co., Ltd., Johnson Health Tech. Co., Ltd., Cybex International, Inc., Fitness World, Nautilus, Inc., NordicTrack, and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Fitness Equipment Market Report Segment
By Type
- Cardiovascular Training Equipment
- Strength Training Equipment
By End-User
- Health Clubs/Gyms
- Residential
- Commercial
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