North America Fitness Equipment Market Share is estimated to be over USD 5 billion in 2019 and is expected to grow at a CAGR of 3% from 2020 to 2026.
Get more details on this report - Request Free Sample PDF
Increasing health concerns due to sedentary lifestyle are driving the demand for fitness equipment in North America. The rising obesity rate has increased health and fitness awareness in the region. According to the Center for Disease Control (CDC), in 2018, the prevalence of obesity in adults in the U.S. was around 42%. Consequences of obesity, such as coronary heart disease, type 2 diabetes, high blood pressure, and depression, have encouraged people to focus on fitness and well-being. To prevent these diseases, users are incorporating cardiovascular and strength training workouts in their daily routine, surging the demand for robust fitness equipment.
The North America fitness equipment demand will experience a slight decline in 2020 due to the ongoing coronavirus pandemic, as gyms and fitness centers remain closed in anticipation of stopping the virus spread through physical contact. Government organizations in the U.S. and Canada have imposed lockdowns to ensure social distancing to curb the rapidly spreading infection. The temporary closure of health clubs and gyms will negatively impact the fitness equipment industry. The reopening of gyms with the relaxations in lockdown rules will support fitness equipment industry growth. Gyms owners are taking measures to sanitize fitness machines and facilities to ensure consumer’s safety and health.
The demand for cardiovascular fitness equipment, which helps to boost the heart health and enhance stamina is being witnessed. The cardiovascular equipment accounted for over 50% of the revenue share. The cardio equipment is segmented into elliptical machines, treadmills, exercise bikes, and climbers. The regional industry is witnessing a surge in the demand for treadmills that aid in weight loss and improve heart strength & joint flexibility. Treadmills also provide an option for blood pressure and heart rate monitoring for patients. Elliptical machines are also witnessing the growing demand, as they facilitate a low impact exercise, target specific muscle groups, reduce high blood pressure, and improve blood circulation.
The U,S. fitness equipment market accounted for over 75% of the regional share and will experience steady growth due to demand from the growing number of gyms and health clubs in the region. According to IHRSA, in 2018, over 71 million consumers utilized the U.S. health clubs, and the number of health club facilities increased by 2.8% to 39,570. Fitness centers and gyms incorporate advanced machines to provide enhanced workout experience to consumers. In June 2020, True Fitness partnered with EGYM, a smart gym solutions provider, to provide a personalized cardio training experience for gyms, trainers, and members. With the partnership, members can use the True EGYM compatible 16-inch touchscreen console, login using their RFID tag, and select their trainer’s customized workout. The console synchronizes the data with EGYM cloud.
Advanced technological landscape in the U.S. will surge the demand for digitally connected fitness equipment that enables to track body parameters, such as pulse rate precisely, and display them on an app. For instance, in December 2019, Nautilus Inc. introduced its Bowflex indoor cycling bike that delivers a connected fitness experience and features an open platform for users to connect with the company’s app.
Key players operating in the North America Fitness Equipment Market include Icon Health & Fitness Inc., Fitness EM LLC, Johnson Health Tech, Nautilus Inc., Technogym S.p.A., Amer Sports Corporation, Torque Fitness, and True Fitness. Players are focusing on launching new products to strengthen their product portfolio and market position. For instance, in December 2019, Schwinn, a Nautilus brand, expanded its indoor cardio line with digital cycling bike and treadmill. The products feature workout options for a range of fitness levels. In March 2018, Matrix Fitness launched a training console that offers a guided strength training experience. The intelligent training console is available on the premium ultra-series from Matrix. With the launch, the company aims to offer an enhanced, digitally connected, intuitive, and personalized strength training solution.