Market Scope
The Home Gym Equipment Market Size will capture a moderate CAGR of 4.41% from 2020 to 2027, reveals Market Research Future (MRFR). The market size by 2027 will be around USD 6.34 billion, adds the new MRFR study.
Leading Contenders
Icon Health & Fitness, Inc. (NordicTrack) (U.S.), Health Tech Co., Ltd (China), Kettler (GB) Limited (U.K.), Johnson Health Tech. Co., Ltd (U.S.), Cybex International Inc. (U.S.), DHZ Fitness Group GmbH (Germany), Hammer Sport AG (Germany), Fitness EM LLC. (U.S.), Impulse (Qingdao), True Fitness Technology, Inc. (U.S.), Tunturi New Fitness B.V. (Netherlands), HOIST Fitness Systems Inc. (U.S.), Vectra Fitness Parts LLC. (U.S.), Technogym SpA (Italy), Nautilus, Inc. (U.S.), Amer Sports Oyj (Finland), are the significant home gym equipment developers listed in the research report.
Major Boosters and Deterrents
Various home gym equipment with different features as well as applications are now essential accessories for consumers in their daily workouts. The blossoming population of fitness-focused consumers worldwide, in line with the escalating cases of obesity add significantly to the industry value. Obesity is responsible for a series of health issues including sudden cardiac arrest, hypertension, hypotension, and diabetes. Consequently, people are trying to lose as much weight as possible, improve their blood circulation and bring down stress. The focus now is more on physical activities that can be carried out at home, thereby fostering the demand for cardiovascular training equipment, and strength training equipment.
Top brands are progressively emphasizing on developing equipment that provide comfort and convenience, while also addressing various targets spots to evoke faster results. These product innovation strategies adopted by these manufacturers will allow them to gain the upper hand, while resulting in massive industry growth in the future.
Online workout classes, especially on popular social media sites like Facebook, Instagram, and YouTube have sparked the interest of several consumers, compelling them buy different size of home gym equipment. These platforms provide the consumers with extensive knowledge about the latest equipment available in the global market. Plus, the huge prominence of various e-commerce channels that sell these products also push the business growth across the globe.
Market Segmentation
The global market, with respect to equipment type, caters to cardiovascular training equipment as well as strength training equipment.
Home Gym Equipment Market Size, in terms of distribution channels, covers store-based along with non-store-based.
Regional Study
The Home Gym Equipment Market has been regionally dissected with respect to Asia Pacific/APAC, North America, Europe and also RoW/rest of the world.
With top-notch progress, the highest position in the global market has been secured by North America. The market has been garnering significant traction as a result of the huge burden of different lifestyle ailments, which has raised the importance of fitness as well as health among the people. This, in turn has led to higher adoption of home gym equipment such as bikes and treadmills. It expected that the US market will make the most progress in the region, in view of the booming sales of strength training equipment, especially among the youth.
Another promising market belongs to Asia Pacific, where the sales of home gym equipment have shot up notably over the years. APAC should continue to garner the fastest traction throughout the given period, given the expanding pool of health-conscious consumers. Sales have reached great heights in China, India, Australia, and Japan, in line with the strong government efforts to encourage physical activity among kids and adults alike. Renowned players based in the region offer a wide variety of offerings with application in different exercises. The mounting spending power of the consumers in light of the surging economic standards across the region will also boost the market’s growth trajectory in the future.
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