Asia Pacific Home Fitness Equipment Market 2021-2031

Asia Pacific Home Fitness Equipment Market 2021-2031

Bonafide Trust 02-08-2022 112 Pages
Region : Asia-Pacific Category : Consumer Goods & Services Appliances & Equipment

Fitness equipment include machines used to perform physical activity. Commonly observed equipment in the Asia-Pacific Fitness Equipment Market are treadmills, stair climbers, weightlifting machines and stationary bicycles. All such equipment are meant for different physical exercises as well as medical treatment Asia Pacific Home fitness equipment market will grow by 2.7% annually with a total addressable market cap of $18.75 billion over 2022-2031 owing to the increased product innovations, high customization of fitness devices, and the rising investments and homecare spending amid COVID-19 pandemic. Upsurge in the prevalence of diabetes, cardiac attacks, high blood pressure and other chronic diseases globally will act as a major factor influencing the growth of the market. Also, surging importance of gyms and fitness centres especially after the pandemic and increasing focus of the manufacturers on using high quality materials are the major market drivers that will further escalate the growth of market. In addition to this, growing awareness about the brands, rising number of celebrity endorsements and increasing geriatric population will expand the market. Fitness equipment are primarily used for body weight management. However, few users of fitness equipment need it for exercises related to medical treatments or for strength training purposes. Such varied applications of fitness equipment are driving the Asia-Pacific Fitness Equipment Market. Additionally, the desire to stay fit, which includes managing overall weight and body looks, is also contributing to the use of fitness equipment. This desire is high among youth and urban population. Rapid urbanization, rising disposable income, and increasing youth population are the key propellants of the Asia-Pacific Home Fitness Equipment Market growth in various Asia-Pacific countries, as population is actively getting involved in fitness activities. However, large - scale resale of used fitness equipment limits the growth opportunities across the Asia-Pacific Fitness Equipment Market. Growth in home fitness equipment in the present past was also the result of the inconvenience of commuting to a gym to utilize the machines, trainer fees, and membership fees, commonly in emerging countries. The space limitation, commonly for bulk fitness equipment, such as massage chair, exercise bike, exercise treadmill, and cross, is a key factor that restricts the growth of the home fitness equipment market. This has enthused start-up gyms, fitness centers, and health clubs across the world. Not only has this, with the growing culture of modernization, the customers these days are provoking their daily habits by getting entailed in sports activities. But because of their hectic schedules and long hours of working hours, crowded fitness centers, and issues regarding vehicle parking have resulted in an augmenting number of consumers actively predisposing toward home workouts. Home fitness equipment eradicated the inconvenience of commuting to a gym to utilize the machines and is extremely cost-effective in the long run. Eventually, there were several innovations that have occurred in this segment such as launching apps that deliver a platform for consumers to select their personal trainers for either online classes or home visits, to encounter their specific and personalized fitness requirements, such as bodybuilding. Moreover, owing to the growing awareness among the consumers regarding their health, the requirement for these types of equipment has also been encouraged. However, high capital investments and maintenance costs, increasing availability and demand for refurbished fitness equipment and rising availability of low availability and counterfeit products in the market will impede the market growth rate. Rising adoption of alternative exercise regimes such as karate coupled with low resale value of the equipment will challenge the market. Additionally, increasing pricing pressure among the manufacturers will act a market restraint and further hinder the growth rate of market. Women in developing countries are also practicing the routine exercise at home to maintain good health and body physique. These trends are driving the demand for home gym equipment.

China dominates the Asia-Pacific Home fitness equipment market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to rising incidences of the chronic diseases, and increasing health insurance.

COVID-19 Impact 
Despite COVID-19 having a devastating effect on some of the industrial sectors, the global gym equipment market experienced a positive growth rate. fitness equipment market experienced positive growth during the coronavirus pandemic. Due to country-wide lockdown in most parts of the world, sports enthusiast shifted their focus and chose to do routine exercise in the home environment. This trend has fueled demand for fitness equipment such as spin cycles, treadmills, dumbbells, and kettlebells.

Highlighted with 31 tables and 50 figures, this 112-page report “Asia Pacific 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 Country: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire Asia Pacific 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 Asia Pacific 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 Asia Pacific home fitness equipment market in every aspect of the classification from perspectives of Product Type, Grade, End User, Distribution Channel, and Country. 

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
    • Japan
    • China
    • South Korea
    • Australia
    • India
    • Rest of APAC (further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)

For each key country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of the regional market 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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