USD 11.3 billion
Home Fitness Equipment Market Size, Share, Growth Analysis, By Type(Cardiovascular Training Equipment, Strength Training Equipment), By Sales Channel(Online, Offline), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25Y2003 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
61
|Figures:
75
Home Fitness Equipment Market Insights
Global Home Fitness Equipment Market size was valued at USD 11.3 billion in 2022 and is poised to grow from USD 11.8 billion in 2023 to USD 17.3 billion by 2031, growing at a CAGR of 4.9% in the forecast period (2024-2031).
The short-term demand for home fitness equipment is rising as consumers are eager to exercise every day. Preventive healthcare, together with a growing preference for personalized training routines (including workout time) and a comfortable home-friendly atmosphere, are contributing to this trend. The inconvenience of traveling to a gym to utilize the machines, trainer fees, and membership fees, particularly in developing nations, contributed to the recent growth in home exercise equipment. One of the main factors limiting the growth of the home fitness equipment market is the lack of available space, particularly for bulky fitness equipment like massage chairs, exercise bikes, treadmills, and cross trainers. This has encouraged the opening of new health clubs, fitness facilities, and gyms all over the world.
Additionally, there are numerous options for small-scale training equipment, even if not everyone can afford a gym with everything. Due to this, businesses like Temple Studio are now selling an all-in-one home gym that is about the size of a little fridge and costs less than USD $400. Additionally, industry participants are giving clients the option of administering their services through mobile websites and applications due to the rising popularity of smartphones.
The e-health platforms provide self-operated and expertly guided services including video-on-demand, live remote instruction, the ability to design one's own exercise regimen, and more. Due to the accompanying advantages of e-health platforms, they are projected to continue to be in demand from working and time-constrained consumers.
As a result, the market for health and fitness equipment is anticipated to be driven by e-health platforms, gyms, and consulting services for fitness centres. Through online workout courses, consumers are taking advantage of the advantages of digitally connected fitness equipment to get a tailored training experience. Platforms for online self-care have emerged as a key component of a safer and healthier future. People have spent more time indoors due to the COVID-19 pandemic, therefore it's critical to remain moving for both physical and emotional health. Regular gym users found it difficult to miss their health club routines. E-health and fitness platforms have been some key instruments for assisting people in maintaining their physical health.
Due to the change in people's gym and exercise routines, the pandemic thus assisted the home fitness equipment market in further market penetration. Online exercise platforms like Nike Training Club, TREAD, Adidas Training by Runtastic, HealthifyMe, and Daily Yoga offer users a gym-like experience in the current year, which has a detrimental impact on health and fitness facilities.
US Home Fitness Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Offline
Fastest Growth
Offline
Growth Rate
4.9% CAGR
Global Home Fitness Equipment Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
To get more reports on the above market click here to Buy The Report
Home Fitness Equipment Market Segmental Analysis
The Global Home Fitness Equipment Market is segmented based on the Type, Sales Channel and region. Based on the Type, the Global Home Fitness Equipment Market is segmented as Cardiovascular Training Equipment and Strength Training Equipment. Based on the Sales Channel, the Global Home Fitness Equipment Market is segmented as Online and Offline. Based on Region Home Fitness Equipment Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Home Fitness Equipment Market Analysis by Type
The home fitness equipment market is divided into cardiovascular training equipment and strength training equipment on the basis of type. Due to its capacity to help strengthen the heart and muscle while also supporting in improving the health of persons with heart disease, diabetes, and high blood pressure, the cardiovascular training equipment category is anticipated to hold the largest market share. Due to more consumers being drawn to the product's capacity to enhance muscle mass, give stronger bones, flexible joints, and other benefits, the strength training equipment segment also has a large market presence.
Home Fitness Equipment Market Analysis by Sales Channel
The home fitness equipment market is divided into online and offline segments based on the sales channel. On account of the channel's capacity to reduce delivery wait times, the presence of a salesperson who aids in guiding consumers to acquire products in accordance with their unique wants and requirements, and the convenience of after-sale services, offline is predicted to be the leading sector. On the other side, the internet sales channel segment has experienced a surge in growth as it offers convenience to many customers who don't have much time to spend looking through merchandise in several stores.
Global Home Fitness Equipment Market by Sales Channel, 2021 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Home Fitness Equipment Market Regional Insights
The market in North America expanded significantly as a result of consumers' growing health consciousness and increased use of workouts that promote physical well-being, weight management, improved bodily stamina, and increased muscular strength. Other significant factors propelling the home fitness equipment market in the region include the rising obese population and rising health concerns. Consumers are now able to work out frequently to stay in shape thanks to the expansion of preventive healthcare practises and growing healthcare prices. Manufacturers who operate on the worldwide market are increasing their presence in response to the growing demand in order to gain a competitive edge. Additionally, as consumer interest in at-home workouts increases, so does the demand for such equipment, which is simultaneously driving the home equipment industry.
Global Home Fitness Equipment Market By Geography, 2021 - 2028
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Home Fitness Equipment Market Dynamics
Home Fitness Equipment Market Driver
- Growing preference for digital technology to support market growth. The use of fitness applications on smart devices to improve and maintain personal fitness routines has grown in popularity, and this has had a substantial impact on the market's expansion. For instance, according to data from the World Economic Forum published in September 2020, usage of fitness applications increased by 50% in the first half of 2020. Additionally, the demand for the product has grown as online fitness classes become more and more well-liked. For instance, the Jawaharlal Nehru University of New Delhi, India, began offering its students an online exercise class to help them maintain their health and well-being, according to information from the New Indian Express that was published in April 2020.
Home Fitness Equipment Market Restraint
- High product cost to restrict market growth. Some expensive exercise equipment, especially for middle- and low-class consumers in developing and underdeveloped nations, is limiting the market's expansion. For instance, the Life Fitness F1 Smart Folding Treadmill costs US$3,499, according to Fitness Superstore. Additionally, as more commercial gyms were built around the world, less money was spent on home training equipment. It has a detrimental effect on market expansion. For instance, the United States has more than 39,570 gyms with more than 6 billion visits, according to 2018 data from the International Health, Racquet & Sportsclub Association.
Request Free Customization of this report to help us to meet your business objectives.
Home Fitness Equipment Market Competitive Landscape
The home fitness equipment market under study is a highly competitive one. This is because both domestic and foreign companies compete in this market. In this particular industry, Nautilus Inc., Icon Health & Fitness Inc., Johnson Health Tech Co. Ltd, Technogym SpA, and Peloton Interactive Inc. are the leading companies. Product innovation and new product development are the main strategies used by these top players since they allow them to provide the consumer new items that can further equalise the new launch to the consumer's preferences. Some of the other participants in the same market choose mergers and acquisitions as their primary strategy since it enables the top firms to get a competitive advantage over other local participants.
Home Fitness Equipment Market Top Company Profiles
- Peloton
- NordicTrack
- Technogym
- Nautilus, Inc.
- ICON Health & Fitness
- Precor
- Johnson Health Tech
- Life Fitness
- Cybex International
- Hoist Fitness Systems
- Brunswick Corporation
- Amer Sports
- True Fitness Technology
- Torque Fitness
- Star Trac Health & Fitness
- Paramount Fitness
- Matrix Fitness
- Octane Fitness
- Core Health & Fitness
- Body Solid Inc.
Home Fitness Equipment Market Recent Developments
- In August 2021, Johnson Health Tech (JHT) announced the acquisition of Matrix Fitness South Africa to expand its health and fitness offerings in the region. This acquisition of the south African company will aid Johnson in serving a large customer base as well as leverage the customer with advanced and latest offerings in the fitness equipment market.
Home Fitness Equipment Key Market Trends
- According to the modernisation of society, consumers nowadays are changing their everyday routines by participating in sports. But due to hectic schedules, lengthy workdays, overcrowded gyms, and parking issues, more and more customers are actively leaning toward at-home workouts. Fitness equipment for the home reduces the inconvenience of travelling to a gym to utilise the machines and is quite economical over time. The advent of apps that give clients a platform to choose their personal trainers for either online classes or home visits, to satisfy their specialised and customised fitness requirements, such as bodybuilding, was one of the many breakthroughs that eventually occurred in this market.
Home Fitness Equipment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, as more individuals become aware of the health advantages that the product can provide, the market for it has expanded at an increasing rate. More customers have been attracted by its capacity to improve a specific body area, increase energy and stamina, and allow users move at their own pace. According to the Global Wellness Institute, the demand has increased due to the growing popularity of physical activities like biking, running, swimming, and others that allow people to exercise in the comfort of their own homes and improve stamina
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 11.3 billion |
| Market size value in 2031 | USD 17.3 billion |
| Growth Rate | 4.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Home Fitness Equipment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Home Fitness Equipment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Home Fitness Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Home Fitness Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Home Fitness Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Home Fitness Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
