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Home Fitness Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022-2027)

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    Report

  • 120 Pages
  • July 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5176847

FEATURED COMPANIES

  • Decathlon SA
  • Dyaco International Inc.
  • Nautilus Inc.
  • Peloton Interactive Inc.
  • Technogym SpA
  • TRUE Fitness
The home fitness equipment market was valued at USD 13,741.23 million in 2021, and it is projected to register a CAGR of 2.75% during the forecast period, 2022-2027.

The COVID-19 pandemic has reshaped the landscape of fitness and has led to the at-home fitness industry skyrocketing. Home fitness has become a notable opportunity with the boom in the online sales of home gym equipment. In addition to the serious implications on people's health and healthcare services, the COVID-19 pandemic has had a significant impact on businesses and the economy. Thus, it also had an impact on the home fitness equipment market globally. With the continuation of quarantines and social distancing norms, gyms remain closed, which boosted the culture of home-workout and, in turn, demand for fitness equipment for homes increased.

Over the short term, precautionary healthcare, coupled with an increasing preference for customized workout regimes (including workout timing) and a comfortable home-friendly environment, is increasing the demand for home fitness equipment, as the customers are keen to exercise daily.

Growth in home fitness equipment in the recent past was also the result of the inconvenience of commuting to a gym to use the machines, trainer fees, and membership fees, primarily in developing countries. The space limitation, primarily for bulk fitness equipment, such as massage chairs, exercise bikes, exercise treadmills, and cross, is a major factor that limits the growth of the home fitness equipment market. This has stimulated start-up gyms, fitness centers, and health clubs around the world.

Key Market Trends


Rising Health Awareness Among the Consumers


With the rising culture of modernization, the consumers these days are provoking their daily habits by getting involved in sports activities. However, busy schedules and long working hours, crowded fitness centers, and problems regarding vehicle parking have resulted in an increasing number of consumers actively inclining toward home workouts. Home fitness equipment eliminates the inconvenience of commuting to a gym to use the machines and is highly cost-effective in the long run. Eventually, there were numerous innovations that have occurred in this segment, such as launching apps that provide a platform for customers to select their personal trainers for either online classes or home visits, to meet their specific and customized fitness requirements, such as bodybuilding. Moreover, due to the rising awareness among the consumers regarding their health, the demand for these types of equipment has also been promoted.



North America Leading the Home Fitness Equipment Market


The North American market witnessed significant growth due to the rising health awareness among consumers, with the growing adoption of exercises related to physical well-being, weight management, improving body stamina, and muscular strength. The rising obese population and increasing health concerns are other major factors driving the home fitness equipment market in the region. The rising preventive healthcare measures and the augmenting healthcare costs are enabling consumers to engage in regular workouts to remain fit. With the growing demand, manufacturers operating in the global market are expanding their presence to achieve a competitive advantage in the market. Moreover, due to the consumer's growing interest in the in-home workouts, the demand for such home equipment is growing, which is also driving the home equipment market simultaneously.



Competitive Landscape


The market studied is competitive in nature. This is due to the existence of several domestic and international players in this segment. The major player in this respective sector is Nautilus Inc., Icon Health & Fitness Inc., Johnson Health Tech Co. Ltd, Technogym SpA, and Peloton Interactive Inc. The key strategy adopted by these top players is product innovation and new product development, as it enables them to offer new products to the consumer, which can further equivalent the new launch to the consumer's preference. Some of the other players in the same segment opt for mergers and acquisitions as their key strategy as it helps these top players capture a dominant position over other domestic players. This specific strategy also enables these players to break the ongoing chain of competition and rivalry among the other competitors.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


This product will be delivered within 2 business days.

FEATURED COMPANIES

  • Decathlon SA
  • Dyaco International Inc.
  • Nautilus Inc.
  • Peloton Interactive Inc.
  • Technogym SpA
  • TRUE Fitness

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 by Product Type
5.1.1 Treadmills
5.1.2 Elliptical Machines
5.1.3 Stationary Cycles
5.1.4 Rowing Machines
5.1.5 Strength Training Equipment
5.1.6 Other Product Types
5.2 by Distribution Channel
5.2.1 Offline Retail Stores
5.2.2 Online Retail Stores
5.2.3 Direct Selling
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 Spain
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 South Africa
5.3.5.2 United Arab Emirates
5.3.5.3 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Anta International Limited (Amer Sports Oyj)
6.4.2 Nautilus Inc
6.4.3 Johnson Health Tech Co. Ltd
6.4.4 Origin Fitness Ltd (Anytime Leisure Limited)
6.4.5 Dyaco International Inc
6.4.6 Technogym SpA
6.4.7 Peloton Interactive Inc
6.4.8 TRUE Fitness
6.4.9 Icon Health & Fitness Inc
6.4.10 Decathlon SA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS8 IMPACT OF COVID-19 ON THE MARKET

A selection of companies mentioned in this report includes:

  • Anta International Limited (Amer Sports Oyj)
  • Nautilus Inc.
  • Johnson Health Tech Co. Ltd
  • Origin Fitness Ltd (Anytime Leisure Limited)
  • Dyaco International Inc.
  • Technogym SpA
  • Peloton Interactive Inc.
  • TRUE Fitness
  • Icon Health & Fitness Inc.
  • Decathlon SA

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