Home Fitness Equipment Market Size, Share, Trend Analysis and Forecast Report, 2020 - 2027
Home fitness equipment market size was estimated at USD 10.35 billion in 2020 and is forecast to reach USD 15.82 billion by 2027, growing at a CAGR of 5.9%.
Home Gym Machines are used for physical exercise, and for maintaining body fitness to enhance the overall health and wellbeing of physic at home. In-House gym machines comprise of Treadmills, Rowing Machines, Stationary Machines, Strength Training Equipment, Elliptical Machines, Dumbbells, and others. The in-house gym trend has developed by the time and many improvements and convenient measures lead to its spread at the global level and hence its popularity increased. Looking at the present scenario of the COVID-19 pandemic, where it can be seen a major decline in the market due to the continuous lockdown, the need for such products rose unexpectedly. Exercising equipment is widely used in order to maintain health and fitness to resist and save from the attack of the virus. Thus, this industry has a rapidly flourishing demand in forthcoming years and in the present time. After this pandemic and the present situation of the world, this market will surely rise due to the tremendous demand and adoption of health and fitness.
Drivers, Restraint, and Opportunity
Looking at the present scenario of a pandemic due to the COVID-19 outbreak, where everyone is concerned about their life and its wellbeing. People all over the world now are aware of the significance of maintaining good health. The probable estimated growth in sales of these products would equal to a total increase of USD 5 Billion from 2020 to 2027. This mentioned value for home gym equipment share is predicted to get a huge increment globally due to the pandemic. The primary restraint factor could be the high cost of products and some machines need additional space to be installed in homes. Moreover, a lack of awareness in areas of developing countries and additional maintenance costs could also be a significant restraint factor. The development of low-cost products and the spread of fundamental athleticism and health-related knowledge and awareness could bolster the market during the forecast period. In addition, reduction in maintenance costs could also build a better opportunity for the inhouse exercise equipment market.
The report comprises the specific segments by product type, under which it includes Treadmills, Elliptical Machines, Dumbbells, Stationary Cycles, Rowing Machines, Strength Training Equipment, and Other Product Types. Further, it is bifurcated under distribution outlook which includes Offline Channels and Online Channels. This segment also includes market size, forecast, and trends for the major markets in North America, Europe, Asia-Pacific, South America, Middle East & Africa under the regional outlook segment. The online service distribution channel facilitates manufacturers the opportunity to reach a wide range of customers without investing in costly sales and distribution infrastructure models and is more convenient.
North America has spearheaded the global demand and accounted for the largest home exercise machines market share as a result of the escalated growth of health awareness at the global level. Also, Europe is seen to gain a notable share of this market and is expected to get a stable growth due to increase in awareness among the large population about health and fitness and government healthcare initiatives and increasing geriatric population in Europe. Meanwhile, Asia Pacific is expected to attain the fastest growth over the forthcoming period, due to its expected witnessing of educational advancement, increase in chronic diseases, increasing awareness about healthy lifestyle, increasing corporate wellness programs, and cross-industry demand and popularity of such machines.
Key companies operating in this industry are Nautilus Inc., Johnson Health Tech Co., Technogym SpA., NordicTrak, Precor, Inc., BRUNSWICK CORPORATION, Amer Sports, Icon Health, Cybex International, Precor, and others. The home fitness equipment market is seen to be highly competitive and fragmented which is being marked by various players. Potential players are widely applying several aggressive strategies to spread its root over the market globally.
Coverage Highlights of the Report
• Revenue Estimation and Forecast (2020 – 2027)
• Production Estimation and Forecast (2020 – 2027)
• Sales/Consumption Volume Estimation and Forecast (2020 – 2027)
• Breakdown of Revenue by Segments (2020 – 2027)
• Breakdown of Production by Segments (2020 – 2027)
• Breakdown of Sales Volume by Segments (2020 – 2027)
• Gross Margin and Profitability Analysis of Companies
• Business Trend and Expansion Analysis
• Import and Export Analysis
Home Fitness Equipment Market Segmentation
Product Outlook (Revenue, USD Million, 2020 - 2027)
• Elliptical Machines
• Stationary Cycles
• Rowing Machines
• Strength Training Equipment
• Other Product Types
Distribution Outlook (Revenue, USD Million, 2020 - 2027)
• Offline Channels
• Online Channels
Country (Revenue, USD Million, 2020 - 2027)
• United States
• South Korea
• Rest of Asia Pacific
• Rest of Europe
• Rest of South America
The Middle East and Africa
• Saudi Arabia
Home Fitness Equipment Market Companies
• Nautilus Inc.
• Johnson Health Tech Co.
• Technogym SpA.
• Precor, Inc.
• BRUNSWICK CORPORATION
• Amer Sports
• Core Health & Fitness LLC
• Fitness EM
• HOIST Fitness Systems
• Icon Health and Fitness
• Torque Fitness
• True Fitness
• Cybex International
• Fitness World
• TRUE Fitness
• Vectra Fitness
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