North America Fitness Equipment (Cardiovascular & Strength) Market Research Report, 2027

The rising prevalence of obesity and associated heart diseases across the North America region has been undoubtedly, enunciating the need for fitness equipment thus supporting the expansion of North America fitness equipment market. Speaking of the rising obesity rate, Center for Disease Control put forth obesity statistics for the United States. It was observed that the prevalence of obesity in U.S adults was somewhere around 42 per cent, which has opened gates for umpteen heart diseases, high blood pressure, type 2 diabetes, and depression. To cut on the rising count and incidences of such diseases, users in North America are incorporating strength training and cardiovascular workouts in their daily routine, escalating the demand for fitness equipment. Also, strength training has always been a priority for people who have been looking forward to losing extra inches while also attaining immunity. The demand for robust strength training equipment for enhancing joint flexibility and bone health will, to a much larger extent, support the prolific growth of fitness equipment market across the North America. In fact, the American Heart Association has been laying immense focus on practicing strength training at least twice a week. Strength equipment helps to increase the bone density while reducing the risks of fracture. It also helps in maintaining the joint flexibility of arthritis. For instance, Matrix Fitness had in 2018, launched a training console which was claimed to offer a guided training experience while also facilitating strength training for new learners. The report titled “North America Fitness Equipment Market Research Report, 2027”, by Actual Market Research gives a complete analysis of the fitness equipment market with country wise & equipment wise performance of the North-American region. The North America fitness equipment market had around USD 4 Billion market size in 2021 is anticipated to expand with nearly 3% of CAGR by 2027. The fitness equipment market in the region has been segmented into two main categories cardiovascular and strength training equipment. North America has been viewed as the major market of fitness equipment with the majority of fitness equipment manufacturers is concentrated in the region. 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. United States and Canada together have the largest number of fitness clubs in the world (approximately 35,000–38,000). Let alone strength training, cardiovascular workouts have also been deemed effective for keeping a person fit and healthy. In this regard, adoption of cardiovascular fitness equipment to boost the heart health and improve stamina has escalated manifolds of late across the region. As per industry experts, the cardiovascular equipment segment held an overall revenue share of more than 50 per cent over the historic time period, courtesy- an expansive product and machine range right from treadmills to elliptical machines and exercise bikes. North America, the dominating market in the fitness equipment industry, has maintained its prominent place due to its major developed economies namely the USA, Mexico, and Canada. Out of these developed economies, contributing to the revenue from the USA has been the highest with more than 70% of market share. In addition, at the global stage, the USA has been the leading revenue generator from the fitness equipment market and has the highest concentration of fitness equipment manufacturing companies. This has made the North-American fitness equipment market the most mature market in the world. For instance, fitness enthusiasts in the United States have been increasingly enrolling themselves for health club memberships to ensure consistent exercise routine, guaranteeing enhanced fitness. From the obtained data, it has been estimated that gym memberships across the region exceeded 62 Million in 2018, depicting an increase of 2.6 per cent from that of 2017. A profitable factor supporting the increased health club membership count is their ability to offer discounts on memberships to maintain long-term contracts with new customers and be in line with the existing customers. A prolific rise in number of memberships will encourage health club owners to equip their facilities with technologically advanced machines, thereby enhancing the overall market portfolio in North America region. The North American fitness equipment market is generating its major part of the revenue from the commercial segment of the market. The commercial segment mainly includes health and fitness segments. Over the years, many corporate institutions also have started providing fitness services for their employees. Companies have nowadays shifted their focus in developing home-based workout equipment, which has enabled consumers to step out of a sedentary lifestyle and include fitness in their daily routine. Increased focus on home-based fitness equipment has let the residential selling of equipment grow with the CAGR of above 3% in the historical period till the year 2021. The busy schedule and long hours of working, crowded fitness centers, and problems regarding vehicle parking have resulted in an increasing number of consumers actively inclining towards home workouts. The home fitness equipment eliminates the inconvenience of commuting to a gym to use the machines and is highly cost-effective in the long run. The small, recurring cost incurred in transportation, workout equipment, trainer fees, and membership fees is a major factor promoting consumer inclination for home fitness equipment. From the obtained data, it is estimated that 64.9% of American women and 36.1% men avoid the gym due to anxiety about being judged, thus resulting in significant rise in the home gym numbers in the past couple of years. An important growth driver fueling the adoption of fitness equipment across North America is the increased demand for technologically advanced fitness devices and machines. The region has currently been witnessing an upsurge in need for digitally connected gym equipment, establishing positive growth avenues for industry majors to come up with smart and digital devices and machines. One such company, Nautilus, in 2019, declared that it was unveiling a digital platform JRNY which uses artificial intelligence to offer workouts according to the user need. Besides, the company also introduced its Bowflex indoor cycling bike which was equipped with an open platform to connect the users with company’s application and was anticipated to deliver a connected fitness experience to the people using the product. The rise in public awareness about health and fitness is the major factor accelerating the growth of the fitness equipment market. Furthermore, growing young population and the growing backlog, improved lifestyle of the people, and the increase in non-renewable income, especially in developing countries are also expected to drive the growth of the fitness equipment market. However, high cost of fitness and the cost of equipment and their high maintenance restrains the fitness equipment market, whereas, young people prefer other activities such as aerobics, swimming and yoga and it will challenge market growth. In addition, rapid industrialization and urbanization have led to health problems such as stress on population rates, working hours and unhealthy eating habits. To deal with these bad effects, membership in the gym will create ample opportunities for the North America fitness equipment market. 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. Covid-19 Impact: In case of COVID-19, North America is highly affected specially the US, with several thousands of infected people facing critical health problems across the entire country. Rising number of corona cases had also compelled the government to impose lockdown across the borders of the nation. Since gyms are closed, professional trainers, gym owners, and supporting staff are facing serious troubles. Owners are finding it difficult to pay rents, bank loans, salaries of employees and electricity bills. Many boutique gyms operate on small margins and hence this pandemic has posed a big question on their existence itself. The brick-and-mortar gyms in the US constitute the highest share of country’s fitness industry and have suffered the most. Since uncertainty of this virus still prevails, there has been a need for the fitness industry to restructure itself in accordance with changing times. Many have already started going creative and digital with online streaming of sessions for their users from various locations. Despite all these, there was severing impact on the growth of the connected gym equipment market in this region. Major companies in the market Icon Health & Fitness Inc, Life Fitness, Johnson Health Tech Co. Ltd, Nautilus INC, True Fitness INC, Technogym S.P.A, Amer Sports Corporation, Torque Fitness LLC, Hoist Fitness Systems, Core Health & Fitness LLC, Precor Incorporated, Iron Grip Barbell Company, Tuffstuff Fitness International INC, Rough Fitness, SportsArt Fitness, Inc., BFT Fitness. Considered in the report • Geography: North America • Base year: 2021 • Historical year: 2016 • Estimated year: 2022 • Forecasted year: 2027 Aspects covered in the report • Global fitness equipment market Research Report • North-America fitness equipment market Research Report • North-America cardiovascular fitness equipment market Research Report • North-America strength fitness equipment market Research Report • USA fitness equipment market Research Report • Mexico fitness equipment market Research Report • Canada fitness equipment market Research Report • Rest of North America fitness equipment market Research Report • Policy & regulations • Porters five force model • Company profile of top players • Strategic recommendation Segments covered in the market By Country • USA • Canada • Mexico By Type • Cardiovascular • Strength By Cardiovascular fitness equipment • Treadmill • Stationary bike • Elliptical trainer • Rowing machine • Cross Country ski • Stair stepper By Strength fitness equipment • Dumbbells • Weight plates • Hydraulic equipment • Resistance band & tubes By End-User • Commercial • Residential The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning. Post this we have started doing primary calls to industry people by equally segmenting in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the fitness equipment industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.