Fitness Equipment Market Share, Size, Trends and Forecasts to 2022

The global fitness equipment market size is expected to reach USD 13.24 billion by 2022 according to a new study by Grand View Research, Inc.

Increasing awareness of health & wellness, increasing urbanization, and an exponential increase in obese population across the world are some of the factors expected to drive the global fitness equipment market growth.

The market is analyzed in accordance to equipment type such as cardiovascular, strength training, and other devices such as monitors & trackers. Treadmills, stationary bicycles, stair climbers, and weightlifting machines are commonly used by people across all age groups for weight management and to maintain an overall body well-being.

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Governments in developed countries are constantly in the process of conceptualizing and establishing effective and timely healthcare programs. Developing countries also indicate a significantly growing trend of healthcare offerings across all sectors. Additionally, increasing trends of corporate fitness and wellness programs offered by organizations across different industry verticals to their employees have further propelled industry growth.

Further key findings from the study suggest:

Cardiovascular training devices are expected to strengthen their presence over the forecast period and are expected to grow at a CAGR of over 3% from 2015 to 2022. Adoption of cardiovascular training devices is comparatively higher as compared to strength training devices as it offers dual benefit of disease prevention and well-being. Cardiovascular training devices such as treadmills, stationary bicycles, rowing machines, and stair machines are extensively used to maintain body fitness and keep the Body Mass Index (BMI) within healthy limits.Health clubs and gyms dominated the industry accounting for over 45% of the market share in 2014.

Home users of such devices procure different...