Overview of the Global Market for Gym and Fitness Equipment

Market Size for Gym and Fitness Equipment

After two years of growth, the global gym and fitness equipment market decreased by -17.2% to $X in 2022. In general, consumption, however, saw a buoyant increase. As a result, consumption attained the peak level of $X, and then declined dramatically in the following year.

Production of Gym and Fitness Equipment

In value terms, gym and fitness equipment production rose markedly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.4% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 26% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, global production growth remained at a lower figure.

Exports of Gym and Fitness Equipment

Exports

After five years of growth, overseas shipments of gym and fitness equipment decreased by -46.2% to X tons in 2022. In general, exports, however, recorded notable growth. The growth pace was the most rapid in 2020 when exports increased by 62%. The global exports peaked at X tons in 2021, and then declined notably in the following year.

In value terms, gym and fitness equipment exports declined significantly to $X in 2022. Overall, exports, however, showed strong growth. The pace of growth appeared the most rapid in 2020 when exports increased by 47% against the previous year. The global exports peaked at $X in 2021, and then dropped significantly in the following year.

Exports by Country

China prevails in exports structure, accounting for X tons, which was approx. 75% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), committing a 7.2% share of total exports. The Netherlands (X tons), Spain (X tons) and the United States (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to gym and fitness equipment exports from China stood at +2.9%. At the same time, Spain (+20.1%), the Netherlands (+13.9%) and Taiwan (Chinese) (+6.8%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the world, with a CAGR of +20.1% from 2012-2022. By contrast, the United States (-7.6%) illustrated a downward trend over the same period. Taiwan (Chinese) (+2.1 p.p.) and the Netherlands (+1.6 p.p.) significantly strengthened its position in terms of the global exports, while China and the United States saw its share reduced by -2.2% and -3.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest gym and fitness equipment supplier worldwide, comprising 59% of global exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 11% share of global exports. It was followed by the United States, with a 5.9% share.

In China, gym and fitness equipment exports increased at an average annual rate of +6.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+8.4% per year) and the United States (+0.1% per year).

Export Prices by Country

In 2022, the average gym and fitness equipment export price amounted to $X per ton, with an increase of 26% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.4%), while the other global leaders experienced more modest paces of growth.

Imports of Gym and Fitness Equipment

Imports

In 2022, after six years of growth, there was significant decline in purchases abroad of gym and fitness equipment, when their volume decreased by -45.1% to X tons. Over the period under review, imports, however, posted a strong expansion. The growth pace was the most rapid in 2021 when imports increased by 66%. As a result, imports attained the peak of X tons, and then shrank notably in the following year.

In value terms, gym and fitness equipment imports shrank dramatically to $X in 2022. In general, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 46% against the previous year. As a result, imports attained the peak of $X, and then dropped remarkably in the following year.

Imports by Country

In 2022, the United States (X tons) was the key importer of gym and fitness equipment, generating 35% of total imports. It was distantly followed by Germany (X tons) and the UK (X tons), together constituting a 10% share of total imports. The Netherlands (X tons), France (X tons), Spain (X tons), South Korea (X tons), Japan (X tons), Canada (X tons), Russia (X tons), Australia (X tons), Poland (X tons) and India (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to gym and fitness equipment imports into the United States stood at +13.9%. At the same time, India (+22.0%), the Netherlands (+12.0%), South Korea (+11.6%), Spain (+10.3%), Poland (+9.2%), Germany (+3.2%), the UK (+2.7%), Japan (+2.6%) and Canada (+2.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +22.0% from 2012-2022. France and Russia experienced a relatively flat trend pattern. By contrast, Australia (-4.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States and the Netherlands increased by +17 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported gym and fitness equipment worldwide, comprising 26% of global imports. The second position in the ranking was taken by Germany ($X), with a 6% share of global imports. It was followed by the UK, with a 5% share.

From 2012 to 2022, the average annual growth rate of value in the United States stood at +5.2%. In the other countries, the average annual rates were as follows: Germany (+5.3% per year) and the UK (+3.7% per year).

Import Prices by Country

The average gym and fitness equipment import price stood at $X per ton in 2022, surging by 13% against the previous year. Over the period under review, the import price, however, showed a slight downturn. Global import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+8.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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