At-Home Fitness Equipment Market

The global at-home fitness equipment market size was valued at $5,545 million in 2019, and is projected to reach $11,459 million by 2027, registering a CAGR of 7.8% from 2021 to 2027.

At-home fitness equipment are the devices or machines used for physical exercise by the consumer at the comfort of their home in order to develop muscular strength, improve stamina, and manage body weight.

The commonly used at-home fitness equipment are treadmills, stationary cycles, stair climbers, rowing machines, elliptical, and free weights. The demand for at-home fitness equipment has increased globally, due to increase in health awareness. Increase in prevalence of obesity and rise in health consciousness have majorly boosted the global at-home fitness equipment market growth. Moreover, upsurge in urban population, rising disposable income, growing health consciousness, growing trend of bodybuilding, and increase in government initiatives to promote healthy life have fueled the adoption of at-home fitness equipment. Further, the demand for the at-home fitness equipment in the emerging markets is growing owing to rise in disposable income, desire to maintain physical and mental health, and rising trend of bodybuilding.

The integration of artificial intelligence (AI) and machine learning technology in the at-home fitness equipment contributes towards the growth of the global at-home fitness equipment market. It is expected that the AI-based personal trainer is the upcoming trend in the at-home fitness equipment market. Tech giants such as Google and Apple are engaged in developing their smart wearable devices that can virtually guide and assist users based on health data collection. Therefore, these technological advancements are expected to be the driving factor of the global at-home fitness equipment market in the foreseeable future.

Moreover, the sedentary lifestyles and hectic schedules have led to the adoption of at-home fitness equipment. Exercising at home using fitness equipment saves gym membership expenses. Furthermore, the outbreak of COVID-19 pandemic significantly induced people to buy at-home fitness equipment as gyms and other fitness centers were completely shut down due to strict lockdown restrictions across the globe. Hence, the COVID-19 pandemic forced the global population to become health conscious and fueled the demand for the at-home fitness equipment. However, space limitation and high cost of equipment restrain the market growth.

The global at-home fitness equipment market is segmented into product type, distribution channel, end user, price point, and region. Depending on product type, the at-home fitness equipment market is categorized into cardiovascular training equipment, free weights, and power racks. The cardiovascular training equipment segment is sub-segmented into treadmills, stationary cycles, rowing machines, and elliptical and others. By distribution channel, the global at-home fitness equipment market is segregated into dealers, online, retail, and gyms/clubs. The online segment is further segregated into direct distribution and 3rd party retailers. The retail segment is further fragmented into mass retailer and specialty retailer. By end user, the at-home fitness equipment market is segregated into households, apartment, and gym in apartment. By price point, the market is segmented into low, mid, and luxury.

Based on the product type, the cardiovascular training equipment is the leading segment because of the increased consumer awareness regarding cardiovascular health. This segment is poised to grow with highest CAGR during the at-home fitness equipment market forecast period. The stationery cycles segment accounted for around 41.4% of the total market share in the global at-home fitness equipment market.

Based on distribution channel, dealers segment accounted for the highest at-home fitness equipment market share in 2019 as it is the most preferred distribution channel and it offers products at reasonable prices. The online segment is expected to be the fastest-growing due to upsurge in the internet penetration and growing infrastructure of e-commerce channels.

Based on the end user, the gym in apartment segment dominated the market in 2019 because of the growing trend of adding gyms as basic amenities while constructing apartments in majority of the countries. The households segment is expected to grow at a significant pace due to the outbreak of the COVID-19 pandemic that forces people to stay in isolation at their homes.

Based on the price point, the mid-price point segment is the dominating segment and is expected to retain its dominance during the forecast period. This is because most of the people opt for good quality equipment at a price that fits their budget.

Based on region, the at-home fitness equipment market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America leads in terms of market share, however Europe is estimated to grow with highest CAGR during the forecast period. High disposable income, increased health consciousness, and rising number of obese population in the Europe will lead to increased adoption of exercising and good food habits. Moreover, there is increased the incidence of lifestyle diseases such as obesity, diabetes, heart disease, hypertension, and other bone diseases. Growing awareness among people about long-term consequences of such diseases has encouraged people to stay fit by working out regularly at home.  Furthermore, rapid urbanization in developing economies of Asia-Pacific, increasing youth population, and rising per capita disposable income are expected to propel the adoption of at-home fitness equipment in the region.

Companies can operate their business in highly competitive market by launching new products or updated versions of existing products. Partnership/collaboration agreement with key stakeholders is expected to be a key strategy to sustain in the market. In the recent past, many leading players opted for product launch or partnership strategies to strengthen their foothold in the market. To understand the key trends of the market, strategies of leading players are analyzed in the report. Some of the key players in at-home fitness equipment market analysis include Tonal Systems, Inc., ICON Health & Fitness, Inc., PENT, Technogym, Louis Vuitton, PELOTON, NOHrD, Nordic Track, ProForm, Precor, Inc., Schwinn, JTX Fitness, Keiser Corporation, Corepump, and York Barbell.

Benefits For Stakeholders

• The report provides a quantitative analysis of the current at-home fitness equipment market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth analysis and the market size and segmentation assist to determine the prevailing at-home fitness equipment market opportunities.
• The major countries in each region are mapped according to their revenue contribution to the market. 
• The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the at-home fitness equipment industry. 

 At-Home Fitness Equipment Market Report Highlights