Global Home Fitness Equipment Market 2021-2031

Global Home Fitness Equipment Market 2021-2031

Bonafide Trust 02-08-2022 168 Pages
Region : Global Category : Consumer Goods & Services Appliances & Equipment

Any machine or device used for physical activity to lose weight, increase physical stamina, or enhance muscular strength is considered fitness equipment. Due to increased health consciousness, the demand for home fitness equipment has risen globally. Treadmills, stationary bikes, free weights, and elliptical machines are among the most popular at-home fitness machines. The global home fitness equipment market has benefited greatly from obesity prevalence and health consciousness. Furthermore, the adoption of home workout equipment has been spurred by an increase in the urban population, rising disposable income, expanding health consciousness, developing bodybuilding trends, and increased government measures to promote healthy living are expected to drive the market growth.

Global home fitness equipment market will reach $14.12 billion by 2031, growing by 3.4% annually over 2021-2031, driven by the increased product innovations, high customization of fitness devices, and the rising investments and homecare spending amid COVID-19 pandemic. As the number of people suffering from obesity rises, the demand for the product is expected to increase as it is a vital tool for them to lose weight. Adult obesity rates in the United States currently exceed 35 percent in 12 states, 25 percent in 48 states, and 30 percent in 35 states, according to data provided by the State of Child Obesity.Org in September 2020. Furthermore, increased knowledge of the lack of physical exercise has resulted in many health difficulties such as heart disease, diabetes, cancer, and others, which has increased demand for these products. Furthermore, increasing inclination towards digital technology to aid market growth. The increasing popularity of fitness applications in smart devices for enhancing and maintaining personal fitness has played a significant role in the market growth. Additionally, governments in both developed and developing countries are launching several public health efforts to enhance public awareness of wellness, which will help implement this equipment, particularly among young people. Furthermore, manufacturers are spending in R&D (Research and Development) operations to produce innovative and user-friendly products that would improve the overall consumer experience in the market and are predicted to increase during the projection period. The cardiovascular training equipment segment is projected to be the larger market shareholder owing to its capability to help toughen the heart and muscle while also improving people's health with heart disease, diabetes and high blood pressure. People are becoming more health-conscious and focused on treating heart diseases as the number of patients with cardiovascular disorders rises, which has fueled the growth of cardiovascular training equipment. Weight training equipment is expected to expand as people become more conscious of the need for muscle and body weight gain. It helps to build stamina and raw energy while also strengthening joints. Dumbbells, bars, and weight plates have seen a boom in popularity, and this trend is projected to continue. The integration of artificial intelligence (AI) and machine learning technology in the at-home fitness equipment contributes towards the growth of the global at-home fitness equipment market. It is expected that the AI-based personal trainer is the upcoming trend in the at-home fitness equipment market. Tech giants such as Google and Apple are engaged in developing their smart wearable devices that can virtually guide and assist users based on health data collection. Therefore, these technological advancements are expected to be the driving factor of the global at-home fitness equipment market in the foreseeable future

In the global market, Asia-Pacific is expected to be well-represented. The growing number of dual-income households is fueling market expansion by increasing spending on the home fitness equipment. On the other hand, the market in North America has grown significantly due to rising consumer health awareness and increased adoption of workouts for physical well-being, weight management, enhancing body stamina, and muscular strength. Other important factors boosting the home fitness equipment market in the region include an expanding obese population and rising health concerns.
COVID-19 impact 
The pandemic has accelerated an already growing trend of health awareness in public. The COVID-19 pandemic has altered the fitness environment, resulting in a boom in the at-home workout business. Home fitness has become a major possibility with the rise in online sales of home gym equipment. The COVID-19 pandemic has had a substantial impact on enterprises and the economy, in addition to the serious implications for people's health and healthcare systems. As a result, it impacted the global home fitness equipment market. Due to the maintenance of quarantines and social distancing norms, gyms are expected to remain closed, boosting the culture of home-workouts and, as a result, the need for home exercise equipment. The eruption of the coronavirus has resulted in a spike in the number of people working out from their homes to avoid getting infected, which, in turn, would have a positive influence on the market growth. In addition, the pandemic has propelled non-fitness enthusiasts to give more importance to maintaining their health and fitness, which thus help to generate traction.

Highlighted with 83 tables and 83 figures, this 168-page report “Global Home Fitness Equipment Market 2021-2031 by Product Type (Cardiovascular Training, Strength Training), Grade (Low-end, Mid-grade, High-end), End User (Houses, Condos, Others), Distribution Channel (Dealers, Specialty Stores, Online, Retail Stores), and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global home fitness equipment market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. 

In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure 
• Growth Drivers 
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces

The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global home fitness equipment market in every aspect of the classification from perspectives of Product Type, Grade, End User, Distribution Channel, and Region. 

By Product Type
    • Cardiovascular Training Equipment
    • Stationary Cycles
    • Treadmills
    • Rowing Machines
    • Elliptical and Others
    • Strength Training Equipment
    • Free Weights
    • Barbells & Ladders
    • Extension Machines
    • Other Strength Training Equipment

By Grade
    • Low-end Products
    • Mid-grade Products
    • High-end Products

By End User
    • Houses and Townhomes
    • Apartments and Condos
    • Other End Users

By Channel
    • Dealers
    • Specialty Stores
    • Online Shops
    • Direct Online Stores
    • Third Party Websites
    • Retail Stores
    • Other Distribution Channels

By Geography
    • North America (U.S., Canada, and Mexico)
    • Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
    • APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
    • South America (Brazil, Chile, Argentina, Rest of South America)
    • MEA (UAE, Saudi Arabia, South Africa, Other Nations)

For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of all regional markets by country and split of key national markets by Product Type, End User, and Distribution Channel over the forecast years are also included.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Selected Key Players: Amer Sports Oyj, Corepump, HOIST Fitness Systems, ICON Health & Fitness Inc., Johnson Health Tech. Co., Ltd., JTX Fitness, Keiser Corporation, Louis Vuitton, NOHrD, Nordic Track, PELOTON, PENT, Precor Inc., ProForm, Schwinn, Technogym SpA, Tonal Systems Inc., True Fitness, Vectra Fitness, York Barbell

(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

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