India tipped to become a top-three Hyrox market within five years
Christian Toetzke sees potential for more than €100 million in annual revenues. India currently contributes an estimated €4–5 million
September’s Mumbai event expected to attract around 15,000 athletes and Hyrox is expanding beyond Delhi, Mumbai and Bengaluru
Venue availability and gym infrastructure identified as barriers to growth, although Indian health club memberships are forecast to almost double by 2030
Hyrox founder and CEO Christian Toetzke is predicting India will become one of the company’s three largest markets within five years, with the potential to generate more than €100 million in annual revenues.
The company recently revealed plans to increase capacity during its 2027 events.
Toetzke expects India to ultimately sit alongside the US and China as Hyrox’s biggest territories, as the fitness racing company accelerates investment in events, gym partnerships, technology and potentially permanent infrastructure in the country.
India currently contributes an estimated €4–5 million a year to Hyrox revenues, but Toetzke told the Economic Times he believes the market will undergo rapid development over the next three years before becoming one of the company’s most significant globally.
Hyrox plans to invest seven-figure sums in building the Indian business over the coming years.
The scale of growth already being seen is substantial. Hyrox’s first event in India attracted around 1,600 participants about 16 months ago, while the Mumbai event taking place this September is expected to draw around 15,000.
The company currently stages events in Delhi, Mumbai and Bengaluru and has announced expansion into Ahmedabad and Noida. Participants from 453 Indian cities and towns have already taken part in Hyrox events.
Country head Deepak Raj believes there is considerable headroom between the number of Indians exercising in gyms and those participating in competitive fitness events.
India’s wider health club market is also forecast to grow strongly. Research from Deloitte India predicts memberships will rise from 12.3 million in 2024 to 23.2 million in 2030, while sector revenues are projected to grow from INR162 billion to INR377 billion over the same period.
One brake on expansion could be a shortage of suitable venues. Hyrox requires indoor spaces of at least 13,500sq m for its events and the company says India currently has limited infrastructure of this scale. It has also identified a need for more suitably-equipped gyms and certified trainers.
Globally, Hyrox generated around €135 million in revenue in 2025 from approximately 850,000–870,000 participants and is forecasting revenues approaching €300 million this year as participation moves towards two million.
The Indian expansion comes as L Catterton progresses a transaction which is expected to see existing Hyrox shareholders Wanda Group and Infront Sports and Media exit the business. Toetzke says the new investment will provide additional capital to support Hyrox’s global expansion.