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 Peloton Interactive (all based in the US); as well as Amer Sports (the Finland-based owner of Precor), Dyaco International (Taiwan), Johnson Health Tech (Taiwan); Nantong Yida Sports (China), Northern Lights (Canada), and Schnell Trainingsgeräte (Germany).
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 aerobic exercisers (including treadmills, stationary bikes, stair climbers, rowing machines, and elliptical cross-trainers); weightlifting machines; and traditional weightlifting equipment such as free weights and benches. This equipment allows individuals to exercise by themselves in a limited space. The two major market segments for fitness equipment are the home and the institutional exercise equipment market (including health clubs, corporations, apartments, and hotels). The home market is by far the largest and has grown significantly in the past decade. Products are made and marketed separately for the two segments.