Published Date: 2020-08-28
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According to the Graphical Research new growth forecast report titled North America Fitness Equipment Market Share is set to Outpace USD 6 billion by 2026. Advanced technology landscape in North America will support the adoption of digitally connected gym equipment. There is a growing trend of connected fitness experience with several companies incorporating digital technologies in machines. Developments in technologies, such as cloud, AI, and wearable technology, will encourage people to adopt modern exercise techniques that enable immersive workout experiences. In October 2019, Nautilus launched a digital platform JRNY that uses AI to offer customized workouts, adjusting automatically with the user.
The ongoing coronavirus pandemic will negatively impact the North America fitness equipment market. The temporary closure of gyms and health clubs with the lockdown imposed by government organizations in the first quarter of 2020 has hampered the demand for fitness machines. With relaxations in the lockdown rules followed by the reopening of gyms, the fitness equipment industry will regain traction. With the increasing awareness about health & immunity during the health crisis, there will be a demand for the equipment from fitness enthusiasts working out from their homes.
The demand for robust strength training equipment for bone health and enhanced joint flexibility will support North America fitness equipment market growth. The American Heart Association recommends strength training at least twice a week. Strength equipment enables to increase bone density and reduces the risk of fractures. It also helps to maintain flexibility in joints and reduce the symptoms of arthritis. Several companies are launching enhanced strength training equipment to enhance their product landscape. In March 2018, Matrix Fitness launched a training console that offers a guided training experience and facilitates strength training for new learners.
Companies including Google, Microsoft Corporation, and Intel Corporation are incorporating gyms in their infrastructure and have well-equipped fitness centers. Corporate offices integrate gyms into their campus to enhance employee productivity and ensure their health & wellbeing. Retro Fitness is a health club franchise with around 120 locations across the U.S. They have a corporate sponsored wellness program that collaborates with companies, enabling them to integrate gyms into the work environment to boost employee productivity.
The growing trend of health club memberships in the U.S. will surge the demand for high-quality fitness equipment. According to IHRSA, gym memberships surpassed 62 million in 2018, an increase of 2.6% from the statistics in 2017. Gym memberships ensure a consistent exercise routine, ensuring enhanced fitness. Several fitness centers also offer discounts on memberships to maintain long-term contracts with new customers and retain the existing consumers. The rise in the number of memberships will encourage health club owners to equip their facilities with high-end machines, boosting fitness equipment market growth.
Major players in the market include Technogym S.p.A., Icon Health & Fitness Inc., Johnson Health Tech, Fitness EM LLC., Amer Sports Corporation, Nautilus Inc., Torque Fitness, and True Fitness. Players are focusing on integrating advanced technologies into their products to enhance their portfolio and expand consumer base. Icon Health & Fitness integrates Google maps workouts with its Nordictrack treadmills, enabling to trace a route anywhere in the world and run that route virtually using Google street view.
The North America Fitness Equipment Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million and shipments in units from 2016 to 2026 for the following segments:
Market Share, By Equipment
Market Value, By End-use
The above information has been provided for the following regions and countries:
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