Home fitness equipment refers to any equipment or tool used during physical activity at home to improve the experience or results of a workout regimen by adding fixed or adjustable quantities of resistance or to otherwise improve the strength or conditioning effects of that exercise.
Sizing and Forecast
The home fitness equipment market size has grown strongly in recent years. It will grow from $16.63 billion in 2023 to $18.29 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to emerging markets growth, the rising prevalence of chronic diseases, the rising disposable income, increased online fitness apps and growth in health consciousness.
The home fitness equipment market size is expected to see rapid growth in the next few years. It will grow to $27.39 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to government support, global population growth and urbanization, the increasing number of high-net-worth individuals, the rising penetration of smart devices and the rising cases of obesity . Major trends in the forecast period include focus on collaborations and acquisitions, use of artificial intelligence (ai), product innovations, technology advancement and virtual reality fitness equipment.
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Segmentation & Regional Insights
The home fitness equipment market covered in this report is segmented –
1) By Product: Treadmills, Elliptical Machines, Rowing Machines, Strength Training Equipment, Other Products
2) By Distribution Channel: Offline Retail Stores, Online, Direct Selling
3) By Application: Home, Small Gyms, Offices, Other Applications
Asia-Pacific was the largest region in the home fitness equipment market in 2023. Western Europe was the second largest region in the global home fitness equipment market. The regions covered in the home fitness equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Precautionary healthcare coupled with an increasing preference for customized workout regimes has contributed to the growth of the home fitness equipment market. Today people are inclined towards maintaining an active lifestyle with regular exercise which can maintain a healthy weight and decrease the risk of chronic diseases. According to the Mayo Clinic, an American nonprofit academic medical center, 150 to 300 minutes of moderate-intensity activity is needed in a week which includes physical activities such as fast walking or swimming as an important part of preventive care and to prevent weight gain. People prefer to have a customized workout and are getting trained by online experts and individual training courses to meet their requirements. Preventive and precautionary healthcare and customized workout regimes have increased the demand for home fitness equipment market.
Key Industry Players
Major companies operating in the home fitness equipment market report are Peloton Interactive, Inc, Life Fitness, Johnson Health Tech, Nautilus, Inc, Technogym S.p.A, Rogue Fitness, Tonal, Dyaco International Inc., Impulse (Qingdao) Health Tech, Decathlon SA, Johnson Fitness & Wellness, Impulse Fitness, Yanre Fitness China, WNQ Fitness, DHZ Fitness, SHUA Fitness, Nortus Fitness Equipment, Body Strong, Shuhua Sports Co., Ltd, Senoh Corporation, Designpark Corp, AlphaFit, Huixiang Fitness Equipment, FitXR, MoveGB, Virtuagym, VIXY BV, ClassPass, Fitbit Inc, Fitness Division Company, LLC, Wexer Virtual, Planet Fitness Franchising LLC, Gold’s Gym, Carolina Scales Inc, NordicTrack, HOIST Fitness Systems, Anytime Fitness LLC, OX Fitness Club, AYO Fitness Club, Academia Bio Ritmo, Bodytech Sports Medicine, Dynamic Health and Fitness, Lifeline Wellness, Vogue Fitness, FitRepublik, Matrix Fitness South Africa, Express Fitness, Fitzone, NRG Fitness, Planet Fitness
The home fitness equipment market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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