Market Forecast By Type ( Cardiovascular Training Equipment, Strength Training Equipment, Other Equipment), By End-users ( Home consumer, Health club/gym, Other commercial user) And Competitive Landscape
Product Code: ETC014515 | Publication Date: Jun 2023 | Updated Date: Dec 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Australia Fitness Equipment market currently, in 2023, has witnessed an HHI of 4476, Which has increased slightly as compared to the HHI of 3869 in 2017. The market is moving towards concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
Report Name | Australia Fitness Equipment Market |
Forecast period | 2025-2031 |
CAGR | 7% |
Growing Sector | Residential and commercial |
Australia Fitness Equipment Market report thoroughly covers the market by type and end -users. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Australia Fitness Equipment Market is currently experiencing a significant upturn, largely fueled by heightened health consciousness among the populace and robust government initiatives aimed at promoting physical activity. The foreseeable future appears promising with predictions of sustained growth. This optimism is grounded in the expectation of ongoing consumer interest in health and fitness, technological advancements in equipment, and a bounce back in gym memberships post-pandemic. The blend of technology with traditional fitness regimens, aimed at providing bespoke and interactive workout experiences, is poised to redefine the market landscape, making Australia a key player in the global fitness equipment industry.
According to 6Wresearch, the Australia Fitness Equipment Market size is projected to grow at the CAGR of 7% during the forecast period of 2025-2031. The rise in disposable income and a growing trend towards personalized fitness regimes have been major drivers of the fitness equipment market in Australia. With more people now willing to invest in their health, there has been a significant increase in gym memberships, which has fueled the demand for fitness equipment. Additionally, with advancements in technology, there has been a rise in the popularity of high-tech fitness equipment, such as smart wearables and virtual reality workout machines. Despite the favorable market conditions, there are certain challenges that hinder the Australia Fitness Equipment Market GrowthThe high cost associated with purchasing fitness equipment, coupled with ongoing maintenance costs, can be a barrier for many individuals. Moreover, the increasing popularity of fitness classes and outdoor activities has led to a decrease in demand for home gym equipment. The growing trend towards health and wellness presents numerous opportunities for the fitness equipment market in Australia. With an increase in awareness about the benefits of regular exercise, there is a significant potential for growth in the residential sector. Furthermore, the rise of digital fitness platforms and virtual training programs has opened up new avenues for the market to expand.
The Australian government has launched several initiatives aimed at promoting health and wellness, indirectly influencing the fitness equipment market. These policies include subsidies for gym memberships as part of healthcare plans and investments in community sports facilities. Such government schemes are designed to encourage a more active lifestyle among Australians, which in turn, drives demand for fitness equipment both for home and commercial use.
The fitness equipment market in Australia is competitive, with key players including Life Fitness, Precor Incorporated, Technogym, and Johnson Health Tech Co., Ltd. dominating the landscape. These companies are known for their innovation in design and technology, offering a wide range of products to meet the diverse needs of consumers. They engage in strategic partnerships, new product launches, and expansions to maintain and strengthen their market position.
The Australia fitness equipment market is anticipated to witness continued growth, driven by increasing awareness of health and fitness among consumers and government initiatives promoting physical activities. The integration of technology such as AI and IoT in fitness equipment is expected to offer personalized and interactive workout solutions, further fueling market growth. Additionally, the post-pandemic recovery phase is likely to see a resurgence in gym memberships and fitness activities, further boosting demand for fitness equipment in Australia.
According to Shivankar, Research Manager, 6Wresearch, the cardiovascular training equipment segment is expected to see the highest growth in the Australia fitness equipment market. This can be attributed to the rising health consciousness among individuals and the convenience of using such equipment for a quick yet effective workout. Additionally, advancements in technology have led to the development of compact and portable cardio machines, making them more accessible for home use
The health club/gym segment is expected to experience significant growth in the Australia fitness equipment market. With more people becoming conscious about their health and fitness, the demand for gym memberships has risen. This trend is likely to continue in the coming years, which will drive the sales of fitness equipment for commercial use.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Australia Fitness Equipment Market Overview |
3.1 Australia Country Macro Economic Indicators |
3.2 Australia Fitness Equipment Market Revenues & Volume, 2021 & 2031F |
3.3 Australia Fitness Equipment Market - Industry Life Cycle |
3.4 Australia Fitness Equipment Market - Porter's Five Forces |
3.5 Australia Fitness Equipment Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 Australia Fitness Equipment Market Revenues & Volume Share, By End-users, 2021 & 2031F |
4 Australia Fitness Equipment Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Australia Fitness Equipment Market Trends |
6 Australia Fitness Equipment Market, By Types |
6.1 Australia Fitness Equipment Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Australia Fitness Equipment Market Revenues & Volume, By Type, 2021 - 2031F |
6.1.3 Australia Fitness Equipment Market Revenues & Volume, By Cardiovascular Training Equipment, 2021 - 2031F |
6.1.4 Australia Fitness Equipment Market Revenues & Volume, By Strength Training Equipment, 2021 - 2031F |
6.1.5 Australia Fitness Equipment Market Revenues & Volume, By Other Equipment, 2021 - 2031F |
6.2 Australia Fitness Equipment Market, By End-users |
6.2.1 Overview and Analysis |
6.2.2 Australia Fitness Equipment Market Revenues & Volume, By Home consumer, 2021 - 2031F |
6.2.3 Australia Fitness Equipment Market Revenues & Volume, By Health club/gym, 2021 - 2031F |
6.2.4 Australia Fitness Equipment Market Revenues & Volume, By Other commercial user, 2021 - 2031F |
7 Australia Fitness Equipment Market Import-Export Trade Statistics |
7.1 Australia Fitness Equipment Market Export to Major Countries |
7.2 Australia Fitness Equipment Market Imports from Major Countries |
8 Australia Fitness Equipment Market Key Performance Indicators |
9 Australia Fitness Equipment Market - Opportunity Assessment |
9.1 Australia Fitness Equipment Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 Australia Fitness Equipment Market Opportunity Assessment, By End-users, 2021 & 2031F |
10 Australia Fitness Equipment Market - Competitive Landscape |
10.1 Australia Fitness Equipment Market Revenue Share, By Companies, 2024 |
10.2 Australia Fitness Equipment Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |