Fitness Equipment
Insights
Market Players
Strength, Smart Tech, and Recovery: 2024’s Fitness Revolution
Equipment manufacturing has now recovered from a series of cost increases in shipping, supply chain logistics and raw materials, as well as, volatile currency rates and the fading ramifications of the US-China trade war. The equipment world was thankfully buzzing again in 2024 with new products, trends, financings, and management teams. EGYM (Genius), Life Fitness (Symbio), Matrix (Onyx) and Technogym (Check Up) all had significant product launches as smart equipment investment ramped up, as well as connected fitness (Echelon, Freemotion, Milon, Shua). There was a race to grab newly opened market share in the fast-growing strength and functional movement market, with companies like Concept2, gym80, JW Sports, Skelcore, Total Gym, Watsons and Ziva all benefiting. Similarly, in the Pilates markets, companies like BASI, Merrithew, Reform RX and Your Reformer all benefited hugely. Finally in the recovery space where cryo, red-light, sauna and plunge all exploded and companies like Gharieni, JK Products, Lumaflex, Mecotec, Power Plate and WellnessSpace all bolstered their client bases, globally. To complete a whirlwind year, Core Health & Fitness, Life Fitness and Precor all welcomed new CEOs to lead them into the future and EGYM became a unicorn with a $200M raise. What. A. Year.
Philipp Roesch-Schlanderer
Co-Founder and CEO
EGYM
For EGYM and myself, artificial intelligence and its various use cases in the health and wellness industry are the leading trends in 2024. Finally, our industry can bring true personalization at scale to the exerciser, whether that’s by creating personalized training plans with our new solution, EGYM Genius, crunching health data at supersonic speeds to enable better insights and recommendations, or something as simple as AI-driven scheduling tools for PTs.
In 2025, the global fitness industry is poised for significant transformation, driven by a few key trends. Mega mergers and acquisitions, some cross border, will continue to reshape the competitive landscape, creating industry giants that can better scale and innovate. While technology continues to play a central role, its widespread adoption is likely to be slower than anticipated, as businesses grapple with the complexities of integrating new tools effectively. Moreover, the world’s aging population continues to present major opportunities for fitness providers. As health preservation becomes increasingly vital, demand for tailored wellness programs that cater to older demographics will grow along with pharmaceuticals assisting in this regard . The combination of these factors ensures that the industry will remain dynamic, with businesses needing to adapt to both technological and demographic shifts to thrive.
Bryan O'Rourke
CEO
Core Health & Fitness
John Young
Vice President Commercial Business, International
Matrix Fitness
Reflecting on 2024, we’ve stayed committed to being trusted advisors for our customers, placing their brand, business, and people at the center of their experience. This dedication shines through in our new products, especially the Onyx Collection with our innovative Facility Concierge technology solution. Every detail and interaction within the Onyx Collection was crafted to deliver an exceptional, immersive experience unlike anything else in our portfolio.
As we move into 2025, our focus on customer support remains unwavering. We’re thrilled to expand our offerings with 12 new plate-loaded machines, giving users more customizable and challenging workout options. Additionally, we’ll be establishing three new wholly owned subsidiaries across Eastern Europe, North Africa, and South America, allowing us to serve customers across borders and adapt to evolving regional trends and preferences. Next year also marks an important milestone for our parent company, Johnson Health Tech, as it celebrates 50 years of supporting health and wellness worldwide. We look forward to building on this legacy by continuing to innovate and support our customers for years to come.
Phillip Mills
Founder & Executive Director
Les Mills International