Companies in this industry manufacture exercise equipment such as treadmills, exercise bicycles, resistance machinery, and weights and weightlifting equipment. Major companies include Cybex International and Life Fitness (both owned by Brunswick), ICON Health & Fitness, Nautilus, and Precor (all based in the US), as well as Motus (South Korea), Nantong Yida Sports (China), Northern Lights (Canada), SCHNELL Trainingsgeräte (Germany), and Tonic Fitness Technology (Taiwan).
Worldwide, the rise of obesity and incidence of weight-related health problems such as diabetes, hypertension, and heart disease increases concern about health and drives use of fitness equipment. Global sales of fitness equipment are expected to reach more than $13 billion by 2022, according to Grand View Research. The fitness equipment market is projected to grow at a compound annual rate of 3.6% from 2015 to 2022, led by sales of cardiovascular training devices. Besides North America, markets such as the Asia/Pacific region, Latin America, and the Middle East drive growth.
The US fitness equipment manufacturing industry is a subset of the sporting goods manufacturing industry.
Demand is driven by consumer income and demographic trends. The profitability of individual companies depends on unique product designs and effective marketing. Large companies have some advantages in brand recognition, but small companies can compete effectively by building unique products.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products are motorized treadmills, stationary bikes, stair climbers, rowing machines, and elliptical "cross-trainers," collectively called aerobic exercisers; and weightlifting machines ("strength training"), and traditional...