Pune, India, May 02, 2023 (GLOBE NEWSWIRE) -- The United States home fitness equipment market size was valued at USD 4.81 billion in 2022 and is projected to grow from USD 5.09 billion in 2023 to USD 8.50 billion in 2030 at a CAGR of 7.59% during the forecast period.
The fitness trend that fueled the home fitness equipment market in 2022 was driven by rising health consciousness among Americans. Due to inactivity, high calorie intake and decreased physical activity, the obese population in the U.S. is growing, which is causing serious health issues. As a result, the prevalence of obesity is rising, and people are becoming more aware of the health advantages of using this equipment. According to the non-profit health organization Trust for America's Health's report, "The State of Obesity 2020: Smarter Policies for a Healthy America," the obesity prevalence in America has climbed from 26.0% of the population in 2008 to 42.4% in 2020. Fortune Business Insights presents this information in their report titled "United States Home Fitness Equipment Market, 2023–2030."
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List of Key Players Profiled in the United States Home Fitness Equipment Market Report:
- Icon Health & Fitness, Inc. (U.S.)
- Core Health & Fitness, LLC (U.S.)
- Johnson Health Tech Co., Ltd. (U.S.)
- Hoist Fitness Systems (U.S.)
- Rogue Fitness (U.S.)
- Body Craft Inc. (U.S.)
- BodyEnergy Technology Co., Ltd. (U.S.)
- TRUE Fitness Technology Inc. (U.S.)
- Torque Fitness (U.S.)
- Life Fitness, Inc. (U.S.)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 7.59% |
| 2030 Value Projection | USD 8.50 Billion |
| Market Size in 2022 | USD 4.81 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 107 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| U.S. Home Fitness Equipment Market Growth Drivers | Growing Residential Infrastructural Settings to Support Market |
| Introduction of Innovative Exercise Equipment by Manufacturers to Aid the Market |
Browse Detailed Summary of Research Report with TOC:
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Segments:
Cardio Advantages Make the Cardiovascular Training Equipment Segment Command a Sizeable Share of the Market
Based on equipment type, the market is segmented into three categories, cardiovascular training equipment, strength training equipment, and others.
Equipment used for cardiovascular exercise significantly controls blood pressure and heart rate. Due to the large demand from the American population for cardiovascular training equipment such as treadmills, rowers, stationary bikes, and others to maintain their cardio health, the cardiovascular training equipment segment commands a significant market share. Further segmental development will be fueled by the increasing popularity of treadmills and stationary bikes as indoor alternatives to jogging and cycling outside.
Due to Growing Popularity of E-Commerce Sites, the Online Sector Now Accounts for a Sizable Portion of the Market
By sales channel, the market is divided into online and offline.
The rising adoption of online shopping for exercise items among the U.S. population mainly drives the online segmental growth. For instance, a major international e-commerce behemoth such as Amazon.com Inc. reported a 38% increase in its U.S. revenue, which was expected to hit USD 386.1 billion in 2020. Pop-up advertising tactics were used by major players such as Rogue Inc., TRUE Technology Inc., and others to boost website traffic and product sales, which boosted online sales and supported the expansion of the online sector.
COVID-19 Impact:
Body Exercise's Growing Relevance in the Face of the COVID-19 Pandemic will Drive Market
Several people chose to stay inside during the pandemic in order to prevent contacting the corona virus and to adhere to social conventions of social isolation. Fitness enthusiasts utilize home fitness equipment to preserve their health and increase their physical endurance and muscle strength. Also, throughout the pandemic, Americans' increasing knowledge of the value of establishing regular exercise routines has sped up product demand in the U.S. The demand for workout equipment among Americans increased significantly in 2020 as a result of these factors.
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Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Manufacturers are Introducing Cutting-edge Exercise Equipment to Help the Market
Today, well-known exercise equipment producers in the U.S. include Core Health & Fitness LLC, Icon Health & Fitness Inc., Johnson Health Tech Co. Ltd., and others. These products are built on performance-tracking technology. The efforts of these businesses will probably help the = market in the U.S. For instance, Peloton Interactive Inc., a top manufacturer of exercise bikes and other gym equipment, introduced Peloton Bike+, a cutting-edge indoor exercise bike product, as part of its home smart gym lineup, in the U.S. in September 2020. The item has a rotating touchscreen monitor with a 23.8-inch HD resolution, a four-speaker sound system, and one-tap connectivity features.
Additionally, rising customer spending on IoT-based home goods encourages businesses to provide cutting-edge exercise equipment. This element will increase the U.S. home fitness equipment market share.
On the contrary, the demand for digital exercise equipment is anticipated to be constrained by its higher price among lower and middle-income U.S. population, which will restrain the U.S. home fitness equipment market growth.
Competitive Landscape
Product Development and Business Growth are the Main Tactics Driving the Market
Several well-known companies, such as Icon Health & Fitness, Inc., Technogym SpA, and Body Energy Technologies Co., Ltd., concentrate on creating interactive linked health & fitness equipment to provide consumers with individualized body training solutions. For instance, in January 2022, NordicTrack, a fitness company owned by Icon Health & Fitness Inc., debuted its line of voice-activated, adjustable dumbbells under the name "iSelect Adjustable Dumbbells" in the U.S. Users of these gadgets can adjust the weight of the dumbbells from 5 to 50 pounds using voice-activated speakers.
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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
- U.S. Economic Profile
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis (in relation to COVID-19)
- Impact of COVID-19
- Supply Chain Challenges
- Potential Opportunities due to COVID-19
- United States Home Fitness Equipment Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Equipment Type
- Cardiovascular Training Equipment
- Strength Training Equipment
- Others
- By Sales Channel
- Online
- Offline
- By Equipment Type
TOC Continued...!
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Key Industry Development:
- November 2021—Nautilus Inc. unveiled the Bowflex Max Total 16 cardio machine that features a 16-inch HD touch screen and integration with the JRNY digital fitness platform to keep users motivated during workouts.
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