The Pilates Land Grab: a $19.2bn Market, and Everyone Wants In

Pilates stopped being a niche the moment the money showed up. US Pilates & yoga studios are now a $19.2bn market growing roughly 11% a year since 2021 (IBISWorld) — and the engine of that growth is the reformer. On ClassPass, Pilates was the single most-booked workout for the third year running, with reservations up 66% from 2024 and more than 15M bookings worldwide. It’s also the most common first class new users book — the lowest-friction door into the whole industry.

The clearest tell is who’s chasing it. Peloton’s own Pilates workouts grew 48% year-over-year in Q3 FY2026 (its HiLit plan alone drew 400,000 members), and in June 2026 it acquired Skōp, maker of a $7,995 connected Pilates reformer (Bloomberg) — buying the technology rather than building it. On the studio side, EoS Fitness added reformer Pilates at three locations with more coming, and YogaSix launched a Pilates-inspired format — the big operators are all bolting it on.

Here’s the operator read. Reformer is a premium tier, not a replacement for your core — it commands a price premium and rebooks better than almost anything, so it expands revenue per member without cannibalising the base. And it’s the on-ramp: lead with the format new members already want, then keep them with everything around it.

But don’t mistake the machine for the moat. Peloton can buy a sensor-laden reformer; what it can’t buy off the shelf is the coaching, the programming, and the data layer that turns a $7,995 device into a reason to stay. The hardware is the hook; the system around it is the business.

A living Sqwod Intelligence report — every figure cites one named source (we deliberately excluded the $142bn–$614bn “global Pilates” market estimates that circulate, because reputable firms disagree by 4×; the $19.2bn US figure is IBISWorld’s). We refresh the numbers as new data lands — see the update log.