Growth in gyms and health clubs

The number of gyms and health clubs in major cities has grown exponentially in the last decade. According to data published by IHRSA, the total number of health and fitness clubs globally stands at around 200,000 as of 2021, up from 180,000 in 2018. This rise in health clubs can be directly attributed to increasing awareness about fitness and changing lifestyle choices of young populations worldwide. As more people are choosing to work out at gyms rather than opting for outdoor exercise, the demand for high-quality exercise machines and free weights have increased substantially. Leading fitness equipment manufacturers are focusing on developing technologically advanced workout gear suitable for both commercial and home use.

Innovations in cardio and strength equipment

Cardiovascular training equipment occupies the biggest share of the total fitness machines market. Fitness Equipment manufacturers are continually innovating across product categories to capture the evolving needs of fitness enthusiasts. Many new treadmills, indoor cycles and elliptical machines now feature built-in screens with on-demand workouts and connectivity options. This allows users to stream music, track biometric data and take virtual classes right from the machines. On the other hand, strength equipment is moving beyond the traditional free weights segment with the introduction of dynamic resistance machines, plate-loaded machines and functional trainers that mimic real-world movements. Developments in material science are also allowing equipment makers to create durable yet lightweight gear for both commercial and residential application.

Demand from commercial gym chains and boutique studios

The commercial segment which includes equipment sales to gyms, health clubs and boutique fitness studios holds the major share of the overall fitness equipment industry revenue. Large commercial chains are continuously investing in replacing older machines with new technology-equipped cardio units, functional trainers and smart lockers. They are also customizing fitness offerings by collaborating with boutique studios focused on specific workout verticals. For example, many gyms now host yoga, spinning, boxing and CrossFit studios within their premises. This has significantly boosted sales of specialized machines and accessories tailored for different workout formats. Leading brands are selectively partnering with prominent fitness studio franchises for steady commercial equipment supply.

Rising prominence of home gyms

The pandemic accelerated the uptake of at-home workouts using portable fitness machines and free weights. Many people who earlier frequented gyms are now choosing to create dedicated home workout spaces. This emerging trend is fueling home fitness equipment revenues, with sales of items like multi- station gym machines,Adjustable weight benches, treadmills, indoor cycles and kettlebell sets reporting strong growth. Home gym equipment manufacturers are offering personalized digital experiences through interactive workout programs and companion mobile apps. The availability of easily installable folding treadmills, compact strength machines and multifunctional cable stations further supports the home market expansion. Simultaneously, connectivity enhancements allow transmitting biometrics and completing virtual classes even in isolation of one's home.

Focus on virtual/hybrid offerings

The pandemic acted as a catalyst for the virtual fitness business with many trainers and studios embracing live- streamed and on-demand workout models. This compelled equipment manufacturers to integrate their products with advanced digital features. Many cardio machines and strength trainers can now connect to mobile and web apps to access pre-recorded or live virtual classes lead by expert coaches. Users get personalized class recommendations and their performance metrics are recorded within these virtual platforms. Additionally, hybrid models combining both gym-based and virtual experiences are emerging as a popular trend. Gyms are providing members access to their extensive workout library on any compatible cardio machine or in the comfort of one's home. Such hybrid virtual + equipment-backed propositions are helping the fitness industry engage patrons amid continued social distancing practices worldwide.

In the steady growth of gyms and health clubs as well as the rising popularity of home-based workouts present immense opportunities for fitness equipment manufacturers. While innovations in functionality and inter-operability with virtual platforms are important, manufacturers will have to cater to diverse commercial and residential markets through tailored product and pricing strategies to stay ahead in this thriving industry.

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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)