PUBLISHER: The Business Research Company | PRODUCT CODE: 1429498
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429498
Home fitness equipment comprises any tools or devices utilized for physical activity at home, aiming to enhance the workout experience or results by incorporating fixed or adjustable resistance or improving the strength and conditioning effects of exercises.
The primary types of home fitness equipment include treadmills, elliptical machines, rowing machines, strength training equipment, and others. These find applications in various settings such as homes, small gyms, offices, and more. An elliptical machine, for instance, is a stationary workout device that permits climbing stairs, walking, or running with reduced impact on joints, minimizing the risk of injuries. The distribution of these fitness equipment types occurs through channels such as offline retail stores, online retail stores, and direct selling, catering to usage in homes, small gyms, offices, and other environments.
The home fitness equipment market research report is one of a series of new reports from The Business Research Company that provides home fitness equipment market statistics, including home fitness equipment industry global market size, regional shares, competitors with a home fitness equipment market share, detailed home fitness equipment market segments, market trends and opportunities, and any further data you may need to thrive in the home fitness equipment industry. This home fitness equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 witnessed in the historical period can be ascribed to the expansion of emerging markets, an increase in the prevalence of chronic diseases, a rise in disposable income, the proliferation of online fitness apps, and the growth of 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 anticipated growth in the forecast period can be credited to government support, the global expansion of population and urbanization, the escalating number of high-net-worth individuals, the growing prevalence of smart devices, and the increasing instances of obesity. Major trends expected in the forecast period encompass a concentration on collaborations and acquisitions, the incorporation of artificial intelligence (AI), advancements in product innovation, technological progress, and the integration of virtual reality fitness equipment.
The growth of the home fitness equipment market can be attributed to the increasing emphasis on precautionary healthcare and a growing preference for personalized workout routines. Today, individuals are more inclined towards maintaining an active lifestyle through regular exercise, which plays a crucial role in weight management and reducing the risk of chronic diseases. According to the Mayo Clinic, engaging in 150 to 300 minutes of moderate-intensity activity per week, such as brisk walking or swimming, is recommended for preventive care and weight maintenance. People are increasingly opting for customized workouts, seeking guidance from online experts and individual training courses to tailor their exercise routines to their specific needs. This shift towards preventive healthcare and personalized workout regimens has significantly boosted the demand for home fitness equipment.
The surge in obesity rates is anticipated to drive the growth of the home fitness equipment market. Obesity, characterized by excessive body fat accumulation resulting in an elevated Body Mass Index (BMI) beyond the healthy range, is linked to an increased risk of various chronic diseases. This has motivated individuals to invest in home fitness equipment, enabling them to engage in regular physical activity and effectively manage their weight. The convenience of exercising at home, particularly for those with limited time or mobility, has fueled the demand for fitness equipment, contributing to the overall expansion of the market. For example, in May 2022, according to the Centers for Disease Control and Prevention (CDC), severe obesity in the United States rose from 4.7% to 9.2% in 2021. Additionally, adults aged 20 to 39 years exhibited an obesity prevalence of 39.8%, while those aged 40 to 59 years had a prevalence of 44.3%. Hence, the increasing prevalence of obesity is a key factor driving the growth of the home fitness equipment market.
Virtual reality fitness equipment, accessories, and apps are emerging trends in the home fitness equipment market, offering innovative ways to engage in physical workouts. These technologies provide inspiration and motivation, helping individuals stay committed to their fitness goals through enjoyable games and real-life training scenarios. Beyond serving as motivators, they also offer cost savings compared to traditional fitness equipment such as cross trainers, treadmills, and stationary bikes. An example of this trend is the VR Fitness Company, which is pioneering the world's first reality gym experience by offering virtual reality fitness machines designed to deliver safe and enjoyable aerobic sessions for users of all fitness levels, making exercise more entertaining.
Leading companies in the home fitness equipment market are integrating Artificial Intelligence (AI) into their products to stay competitive. AI in home fitness equipment involves incorporating advanced machine learning algorithms into devices, applications, and equipment designed for home use. For instance, in November 2021, Peloton Interactive, Inc., a US-based exercise equipment and media company, introduced Peloton Guide-an AI-enabled connected strength training device. Peloton Guide connects to televisions, providing access to expert instructors and the Peloton content library. Utilizing machine learning, it offers personalized guidance, features such as a Movement Tracker, Self-Mode with real-time form comparisons, Body Activity tracking, voice activation, and member-controlled privacy settings. Peloton Guide aims to make strength training engaging and effective for users at all levels, with ongoing updates planned for continuous improvement.
In June 2023, TRX, a US-based fitness training and equipment company, acquired YBell Fitness for an undisclosed amount. This acquisition enhances TRX's product portfolio, expanding its offerings in functional training equipment and educational resources. The addition of YBell Fitness, an Australia-based fitness equipment company known for its innovative designs, including the flagship product YBell, enriches the overall training experience for fitness enthusiasts, personal trainers, and gym owners.
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
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
The countries covered in the home fitness equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The home fitness equipment market consists of sales of cardiovascular training equipment, stationary cycles, dumbbells, kettlebells, store-based equipment, and in-home gym equipment. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Home Fitness Equipment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on home fitness equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for home fitness equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The home fitness equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.