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

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.