Global Market Study on the Fitness Equipment Trends

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Global Market Study on the Fitness Equipment
Trends With the generation of over 80
billion in revenue each year, the fitness
industry growth has skyrocketed over the past
years. This is supported by the rising health
consciousness among people. Moreover, the
sector has evolved significantly from gym
memberships to fitness clubs to home workout
trends. As a result, franchises are upgrading
their fitness equipment to modern sports gear,
including smart fitness equipment. Considering
the growing social media influence, consumers are
exposed to commercial ads that lay down the
physical and mental benefits of fitness as a
lifestyle choice. As a result, gym culture has
become a getaway to release stress among people
exposed to high-paced working environments. In
fact, the growing obesity levels due to
high-calorie consumption have impacted
populations across North America, Europe, and the
Asia-Pacific immensely. For instance, as per WHO,
the global obesity levels have tripled since 1975.

• Fitness Equipment Market Key Highlights
• The global fitness equipment market is
  expected to rise at a CAGR of 3.95 during
  the forecast period 2022-2028.
• Our study estimates the market to generate
  a revenue worth 13.61 billion by the year
  2028.
• Given the high risks associated with obesity,
  including cardiovascular diseases, the demand for
  fitness equipment has soared tremendously
  across gyms, offices, home settings, and
  other facilities.

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• Health club/gym captures the highest share in the
  end-user segment. New health clubs are launching
  snack bars, member lounges, equipment, and
  nutrition counseling to attract new members.
• In the United States, around 36.5 of
  adults are obese, and 32.5 are
  overweight, accounting for more than
  two-thirds of the overall adult population.
  As a result, the countrys fitness equipment
  adoption in home workout settings and gyms has
  soared over the past years.
• The Asia-Pacific is anticipated to attain the
  fastest growth in the fitness equipment market.
  The high obesity rates, with two out of every
  five adults being obese, and the rising number of
  fitness influencers add to the growing fitness
  equipment adoption.

• Trend of Smart and Wearable Fitness
• In a highly competitive environment, fitness
  equipment manufacturers are constantly
  innovating products to gain a competitive edge.
  In this regard, smart gear has emerged as an
  advanced segment as they efficiently monitor
  heart rate, log exercises, track calories, and
  enable watching television. The reason behind the
  growing popularity of technology is the growing
  need for devices that serve various purposes.
• Popular products in the smart fitness gears
  segment include
• Smart Bikes Most indoor bikes are
  integrated with touch screen tablets,
  featuring customizable fitness routines, heart
  rate monitors, and more. Several companies
  are innovating in this segment to offer comfort
  with accurate training to users. For instance,
  Peloton Interactive Inc offers a 21.5 inch
  HD touchscreen compatible with smartwatches,
  heart rate monitors, and other connected devices.
• Smart Mirrors Similar to regular mirrors, these
  smart mirrors are easy to install and are
  compact. Integrated with sensors, cameras, and
  electronic displays, these mirrors operate as an
  extension of mobile devices, enabling users to
  browse social media, track health, and get video
  workout sessions. These devices have gained
  significant traction in the fitness as well as
  retail industry, compelling companies to include
  advanced features. Lululemon Athletica, for
  instance, offers smart mirrors that can be
  installed on the flat wall, displays live workout
  sessions, and monitors the user to offer
  personalized recommendations. Google also
  introduced a patent application for smart mirrors
  that employs optical sensors to monitor an
  individuals cardiovascular health by tracking
  changes in appearances.
• Smart Elliptical Trainers Elliptical
  machines are among the most popular
  fitness equipment as they help users work on
  various muscles at a given time, including
  glutes, hip flexors, and quadriceps. Even
  though it is a low-impact machine, numerous
  fitness equipment manufacturers are
  developing ellipticals for high-intensity
  training. Nautilus is one such company that
  offers Bowflex Max Trainer M9, a hybrid
  elliptical trainer and step climber. It is
  installed with a 10-inch interactive interface,
  20 resistance settings, and four grip handlebars.

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4. Fitness Watches Similar to most
technologies, the smart wearable trend is
driven by constant innovation. Smartwatches are
gaining significant traction by measuring step
count, intensity, stress levels, sleep
patterns, and even blood oxygen levels.
Among the users, around 48 of users are
millennials, followed by approximately 36 Gen-X.
Estimates also suggest that around 80 of people
stated that fitness trackers had improved their
overall health and performance. In October
2021, Withings introduced the ScanWatch
Horizon comprising a range of features, including
heart rate, ECG, blood oxygen levels, and others.
Workout from Home A leap into Virtual
Fitness While health-consciousness and
obesity rates have motivated users to opt
for fitness solutions, technological trends are
expected to uphold their interest. Metaverse is
one such development that will enable fitness
enthusiasts to pursue their goal with advanced
workout games supported by VR and AR
technologies. Needless to say, diversity in
equipment pushes users desires. Thus, the
future of the fitness equipment market is
likely to shine with the collaboration
between offline establishments and online
companies to fulfill the ever-growing trend of
virtual fitness.