Home Fitness Equipment Market Analysis & Forecast 2024-2030

Global Home Fitness Equipment Market is expected to reach USD 11546.27 million by 2030 with CAGR of 5.4% between 2024 and 2030

Overview

Home fitness equipment is a device or apparatus used for physical workouts. Home fitness equipment includes all the basic devices used in the gym such as treadmills, elliptical, stationary bikes, rowing machines, etc. The rising desire to become fit, the prevalence of obesity, increasing disposable income, urbanization, and the rapidly growing e-commerce sector are augmenting the growth of the Global Home Fitness Equipment Market. According to WHO (World Health Organization), obesity has tripled since 1975. In 2016, around 13% of the global adult population was obese, accounting for 11% of men and 15% of women. Moreover, 1.9 billion people were overweight out of which 650 million people were obese. The high cost of equipment was the major restraining factor for the growth of the market. Growing awareness, the popularity of home fitness equipment among baby boomers, and rising demand from developing countries will foster the growth of the market in the forecast period 2023-2029.  

Product types & Competitive analysis

Based on the product types Global Home Fitness Equipment Market is segmented into treadmills, elliptical, stationary bikes, and rowing machines. Elliptical and stationary bike was the major revenue-grossing segments in 2022. The elliptical equipment is widely preferred by people as it is easy to set up at home, available in different sizes, and price ranges. The treadmills segment is projected to experience the fastest growth in the product type segment market during the forecast period 2023-2029.  

The competitive analysis included in the research study helps the user to understand key players market positioning and marketing strategies. Major players in the market are launching new products with innovative features to build their portfolios and establish a strong grip on the market. For instance, in September 2020, Peloton U.S. based exercise equipment company launched two new home smart gym products, the Bike+ and the Tread. In addition to this several players in the market are focusing on acquisitions of emerging players in the home fitness equipment market for sustainable growth and development of the company and expand product portfolio.  

For instance January 2021 Indian fitness startup Cure.fit has acquired U.S.-based fitness company Onyx, to develop its home fitness offerings. According to Cure.fit, this acquisition will help them improve their global business. As a result of this acquisition, the company will also have access to Onyx's computer vision technology which will benefit them in improving their e-commerce product offerings. Several players are engaging in promotional activities over social networking websites and preferring online sales over e-commerce websites.  

 

Distribution channels & Regional analysis

Based on distribution channels the market is divided into online stores, retail stores, and supermarkets. In terms of revenue generation, the retail segment dominated the Global Home Fitness Equipment Market in 2022 and is projected to maintain its dominance in upcoming years. The majorities of people prefer buying home fitness equipment from retail stores as they are readily available and are the principal source of distribution. The online segment is projected to grow at the highest CAGR during the forecast period 2023-2029. The growth in the segment is mainly due to the rising number of smartphone users, increasing usage of the internet in developing countries, and a significant rise in marketing of home fitness equipment over the internet by top players. Recently due to the coronavirus epidemic, the sale of online home fitness equipment has increased and the growth in the online store's segment will be seen in future years owing to the rising health-conscious consumer base.  

 

The regional outlook of the research study is based on an analysis of the market in North America, Europe, Asia Pacific, Middle East, South America, Africa & Rest of the World. North America dominated the Global Home Fitness Equipment Market and accounted for the largest share of the global revenue in 2022. Growing demand for home fitness equipment, the rise of health-conscious people, the presence of key brands of home fitness equipment, rising incidence of obesity is driving the growth of the home fitness equipment market in the North American market. The U.S. is the largest market in terms of revenue generation in North America in the year 2022. Europe was second in terms of revenue generation followed by the Asia Pacific. Growth in the region was attributed to the growing number of fitness enthusiasts, sedentary lifestyles, and diet-related chronic diseases.  

The Asia Pacific is expected to witness the fastest growth in the forecast period owing to the increasing awareness regarding the use of home fitness equipment, booming urbanization, rising disposable income, and a growing e-commerce industry. The demand for home fitness equipment is growing at a faster rate in Japan, China, India, and South Korea owing to a rise in spending on fitness, popularity among men and women, and emerging low-cost home fitness equipment manufacturers. In addition, rising obesity and weight problem in the working population are expected to accelerate market growth in the coming years. Globally China has the largest number of people suffering from obesity with around 46% of adults and 15% of children. Latin America and the Middle East and Africa regions are anticipated to grow at a significant pace owing to the rising fitness industry.  

 

Home Fitness Equipment Market: Product Types

• Treadmills
• Elliptical
• Stationary bike
• Rowing machine

Home Fitness Equipment Market: Distribution channels

• Online stores
• Retail stores
• Supermarkets

Home Fitness Equipment Market: Competitive Analysis

The report includes accurate analysis of key players with Market Value, Company profile, and SWOT analysis. The Study constitutes of the following key players in the Global Home Fitness Equipment Market :

• Johnson Health Tech Co. Ltd
• Peloton Interactive
• Nautilus Inc.
• Technogym
• Torque Fitness

Geographical analysis of Home Fitness Equipment Market :

• North America
  • U.S.A
  • Canada
• Europe
  • France
  • Germany
  • Spain
  • UK
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South East Asia
• Latin America
  • Brazil
• Middle East and Africa

Global Home Fitness Equipment Market Report delivers a comprehensive analysis of the following parameters:

• Market Forecast for 2024-2030
• Market growth drivers
• Challenges and Opportunities
• Emerging and Current market trends
• Market player Capacity, Production, Revenue (Value)
• Supply (Production), Consumption, Export, Import analysis
• End user/application Analysis

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