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

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.