Pune, India, June 07, 2023 (GLOBE NEWSWIRE) -- The global home fitness equipment market size was valued at USD 11.15 billion in 2022 and is expected to be worth USD 11.60 billion in 2023. The market is projected to be valued at USD 16.56 billion by 2030, recording a CAGR of 5.2% during the forecast period.
Home fitness equipment has gained tremendous traction among people who are looking for various ways to improve their health and fitness levels. This equipment plays a vital role in strengthening a specific body part, assisting users in moving at their own pace, and boosting their stamina & energy. As more people are participating in a wide range of physical activities, the demand for home fitness machines has skyrocketed in recent years.
Fortune Business Insights™ displays this information in a report titled, "Global Home Fitness Equipment Market, 2023-2030."
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List of Key Players Profiled in the Home Fitness Equipment Market Report:
- Icon Health & Fitness, Inc. (U.S.)
- Johnson Health Tech Co., Ltd. (U.S.)
- Amer Sports Corporation (Finland)
- Core Health & Fitness, LLC (U.S.)
- Nautilus, Inc. (U.S.)
- Technogym S.p.A. (Italy)
- Hoist Fitness Systems (U.S.)
- Fitness World AS (Denmark)
- HAMMER SPORT AG (Germany)
- Rogue Fitness. (U.S.)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 5.2% |
| 2030 Value Projection | USD 16.56 Billion |
| Market Size in 2022 | USD 11.15 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 160 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Home Fitness Equipment Market Growth Drivers | Rising Health Ailments to Fuel Product Demand |
| Increasing Inclination Toward Digital Technologies to Aid Market Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/home-fitness-equipment-market-105118
Report Coverage:
The report offers a detailed market analysis and highlights key areas such as top end-users, leading companies, and key product types. It also provides insights into the latest market trends and focuses on top industry developments. Besides the aforementioned factors, the report covers many factors that have contributed to the market’s growth in recent years.
Drivers and Restraints:
Increasing Incidence of Health Ailments to Fuel Market Growth
Rising cases of obesity is one of the major factors driving the sales of home fitness equipment as it can help users reduce weight drastically. Moreover, the growing awareness of lack of physical activity has caused many health ailments, such as diabetes, heart disease, cancer, and others, which will increase the demand for these fitness products.
However, high cost of these machines is expected to hinder the market’s expansion.
COVID-19 Impact:
COVID-19 Pandemic Boosted Sales of Home Fitness Products
The COVID-19 outbreak had a positive impact on the sales of home fitness machines as more people began working out at their homes to avoid getting infected. The pandemic also forced many non-fitness enthusiasts to pay more attention to their health and fitness, which also boosted the home fitness equipment market growth.
Segments:
Growing Instances of Heart Ailments to Boost Demand for Cardiovascular Training Equipment
Based on type, the market is segmented into cardiovascular training equipment and strength training equipment. The cardiovascular training equipment segment is anticipated to hold the larger home fitness equipment market share as these machines can improve the health of people suffering from heart disease, high blood pressure, and diabetes by strengthening the heart and its muscles.
Lesser Waiting Time on Deliveries to Boost Preference for Offline Sales Channels
In terms of sales channel, the market is segmented into online and offline. Offline is anticipated to be the leading segment as it can eliminate wait time on deliveries and offer products that meet customers’ requirements.
The market is studied across North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
Regional Insights:
North America to Dominate due to Rising Establishment of Home Gyms
North America is dominating the home fitness equipment market share. The rising construction of luxurious homes has boosted the establishment of home gyms, thereby enhancing the product consumption considerably. Many domestic brands in this region have a vast portfolio of products, which will bolster the product demand.
Due to the high per capita income, Europe is projected to show substantial market growth in the coming years. Customers are increasing their investments in personal health & fitness products, including home fitness equipment.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Supply Chain and Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis (In relation to COVID)
- Global Home Fitness Equipment Market Analysis, Insights, and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Cardiovascular Training Equipment
- Strength Training Equipment
- By Sales Channel (Value)
- Online
- Offline
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type (Value)
TOC Continued...!
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Competitive Landscape:
Key Companies to Use AI Technology to Intensify Market Competition
Key market players are trying to integrate AI technology into their fitness products. This move is expected to help them transform the fitness equipment industry.
Key Industry Development:
- December 2020: Peloton announced plans to acquire fitness equipment manufacturer, Precor, for USD 420 million.
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