North America, the dominating fitness equipment market has enhanced with consumers increasing attraction towards physical wellbeing – Bonafide Research
Sep, 03
2020

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North America, the dominating fitness equipment market has enhanced with consumers increasing attraction towards physical wellbeing – Bonafide Research

 

The North American fitness equipment market has observed impressive growth, due to the rising health awareness among consumers. The increasing awareness of exercises related to physical wellbeing, weight management, improving stamina, and muscular strength which is driving the market growth in the region. Growth in the region's fitness equipment has been spurred by the technological advancements in the region with ranges of fitness tracking wearable and virtual group exercises. Consumers in the region have been more willing to spend on the health & fitness segment which has been derived by the rising number of health clubs, personal training, and equipment with the latest technologies. This advancement has boosted consumer demand blurred the line between home-based workouts and gym sessions. The market in the region has been expanded with the constant innovation, one of such recent innovations is Wattbike Atom in the United States which is equipped with free ride technology.

North-America has been viewed as the prominent market in the fitness industry with a large number of fitness equipment manufacturer established in the region. It can also be considered as the leader in manufacturing equipment which is catering to a number of health and fitness clubs and satisfying the developing trend of home workouts. The high concentration of fitness manufacturing companies like Icon health & fitness, Life Fitness, Nautilus, Cybex international, and other major players in the market has enhanced the competition in the global market. According to the report “North America Fitness Equipment Market, By Value, By Segment (Cardiovascular Equipment, Strength Equipment), By Equipment Type (Treadmill, Stationary Bike, Elliptical Trainer, Rowing Machine, Dumbbells, Weight Plates, Hydraulic Machines, Resistance Band & Tubes), By End User (Commercial & Residential), (Trends & Forecast), Outlook, 2025” published by Bonafide Research, USA have been the major contributor in North-America’s fitness equipment revenue generation. More 70% of the revenue is being generated by the USA which is then followed by Mexico & Canada as a major revenue generator. As North-America is considered to be the hub for fitness equipment manufacturers, the major part of those manufacturers are established in the USA. This has made the USA the largest fitness industry in the world. The USA nearly has 40 thousand health & fitness clubs which is more than half of North America’s total count of health & fitness clubs. The awareness regarding health issues, obesity, cardiovascular diseases has fueled the growth of the country's fitness industry. From the overall market, revenue from cardiovascular fitness equipment has been dominating over the years. Equipment with the inclusion of technologies like body trackers and software applications connected to the smartphones or handheld devices of the consumer has boosted up the demands of cardio equipment in the market. As the market is getting innovated with ranges of strength as well as cardio equipment the overall North-America fitness equipment market is expected to expand with a CAGR of above 3% in forecasted years till 2025.

The growing trend of home workout in recent years has also been the driving trend in the region's fitness equipment growth. This has fueled up the residential sale of fitness equipment in the region. Whether it is cardiovascular equipment like treadmill, stationary bikes, elliptical, or new line strength training equipment resistance band, hydraulic machines both have had observed presence in the home workout segment. The residential segment of the market has observed robust growth of above 3% CAGR in the historical period till the year 2019.

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