Global Home Fitness Equipment Market Segmentation by Product Type - Punching Bags, Treadmills, Dumbbells, Cycles, Weightlifting Benches, Resistance Bands.
Industry: Consumer Goods
Published Date: February-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 300
Report ID: PMRREP31441
The global home fitness equipment market is projected to expand at ~5.6% CAGR and reach ~US$ 21.8 billion by the end of 2033, up from its current market size of ~US$ 12 billion.
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Global Home Fitness Equipment Market Size (2022A) |
~US$ 12 billion |
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Global Home Fitness Equipment Market Size (2023E) |
~US$ 12.6 billion |
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Projected Sales of Home Fitness Equipment Market (2033F) |
~US$ 21.8 billion |
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Value CAGR (2023 to 2033) |
~5.6% |
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Collective Value Share: Top 3 Countries (2022) |
~28% |
Treadmills, stationary bikes, stair climbers, rowing machines, elliptical, and free weights are some of the most popular home exercise equipment. Globally, there is more demand for home exercise equipment as consumer's knowledge concerning their health has grown. The expansion of the worldwide home fitness equipment market has been significantly sustained by the rise in health consciousness and the increased rate of obesity.
The market is becoming far more well-liked. Developed regions like North America and Europe are demanding more home fitness products. Moreover, the prevalence of obesity and other health problems has raised consumer awareness of fitness and boosted demand for home fitness equipment. Following the COVID-19 outbreak, the fitness sector is seeing a significant boost in demand for home fitness equipment.
The adoption of home fitness equipment has been fueled by an increase in urban population, greater health consciousness, a developing bodybuilding trend, increased disposable income, and an increase in government measures to support healthy lifestyles.
Due to rising disposable income, the desire to preserve individual's physical and mental well-being, and the growing popularity of bodybuilding, there is also an increase in demand for home fitness equipment in emerging economies.
The market for home exercise equipment is predicted to increase at a CAGR of 5.6% over the projected period due to the rising popularity of resistance bands with handles and tube or tubular shapes that can resemble other fitness machines.
The global home fitness equipment market increased at a steady growth rate of 4.2% during the historic period of 2018 to 2022. The increasing involvement of millennials and Gen Z population towards adoption of new & innovative fitness equipment is providing towards the growth in volume of sales of such equipment’s.
Fitnessathome, The Life Fitness Company, and other well-known home fitness equipment manufacturers are working with clubs and societies all over the world to raise awareness of healthy lifestyle choices and the advantages of exercise. Companies and government organisations actively promote the usage of home exercise equipment and fitness items among the public in nations like China and India through television and other forms of communication in an effort to combat obesity.
Further, the home fitness equipment market is therefore anticipated to experience overall development as a result of businesses working with the government to boost people's participation in physical activity.
The demand for home exercise equipment has increased as consumers' awareness of the benefits of living a healthy and active lifestyle grows. The market for home exercise equipment is primarily driven by the growing health-consciousness among people around the world, together with product innovation and workouts done at home.
On the other hand, rising rates of obesity in the urban population brought on by a fast-paced lifestyle and junk food intake have increased the demand for home fitness equipment as people turn more of their attention to health and fitness.
How is the Home Fitness Equipment Market Striving in the US?
Americans want to have access to a gym so they can work out whenever they want. As a result, the demand for home exercise equipment in the United States will be supported by expanding residential infrastructure settings. Additionally, the increased demand for muscle-building products like barbells, dumbbells, and others might hasten the expansion of the global market.
The demand for digital exercise equipment is anticipated to be constrained by its premium cost among lower- and middle-income U.S. population, which would impede the market's expansion for home fitness equipment. A further factor that would reduce product demand in the US is the rise in workout-related injuries brought on by improper use of such devices. The US contributed a major share of above ~77% in the North American market.
What is the Scope of Home Fitness Market in India?
The market for exercise equipment in India is anticipated to be driven by rapid urbanisation and rising health consciousness among the populace. The primary factors driving the fitness equipment market are the growing youth population, rising health concerns, and an increase in the number of obese people. Users can undertake exercises for physical well-being, weight management, stamina, and core strength due to the equipment's many functions.
The Indian Central Government issued a message informing all of its offices that they have gyms. Additionally, the Department of Personnel and Training supports the growth of gyms by offering financial aid for the construction of training facilities. In addition, rising consumer interest in fitness as a result of an increase in diseases is fostering the expansion of the Indian industry. The Indian home fitness equipment market is estimated to rise at ~8.8% during the forecast period.
What is the State of Home Fitness Equipment in China?
Instead of the traditional brick-and-mortar gyms that offer long-term subscriptions, virtual gyms with a business strategy of retail locations and online apps started gaining traction in 2022. The new model's flexibility is a key factor; users can access the gym and classes at their convenience without paying annual membership charges, in contrast to traditional gyms, which charge a fixed upfront fee irrespective of attendance. As a result, technology-enabled gyms that provide both online and offline options are gradually replacing traditional gyms in China.
Gyms sold one-to-five-year memberships at a time rather than monthly or flexible pay-per-class alternatives. By employing a light-asset approach, franchising, and digitising their services, new-model gyms like LeFit have distinguished themselves and are achieving faster growth and expansion throughout China. In 2022, China accounted for a major revenue share of more than 55% in East Asia.
Which Type of Home Equipment is Most Popular?
The many advantages of utilizing a home fitness equipment is that they are portability, affordability, and ease of carrying when travelling. Numerous resistance band exercises can be performed in a confined space. Each major muscle group's recommended exercise is provided in the resistance band kits. Resistance bands are therefore becoming more widely used for at-home workouts to maintain a healthy and fit lifestyle.
Additionally, companies currently operating in the market are developing new, inventive types of resistance bands especially created to train the targeted body parts, such as the legs, chest, and many others. As a result, the demand for resistance bands in the global home fitness equipment market is anticipated to rise at highest CAGR of almost 8%.
Which End User has the Major Demand for Home Fitness Equipment?
There is a high demand for home fitness equipment among men. The male segment accounted for nearly 55% share in the home fitness equipment market. Men are more likely to participate in competitive sports, strength training, and aerobic activity than women, who are more inclined towards walking and exercise in recreational activity.
While, it is seen that the demand for home equipment from women is rising at a high rate and is expected to continue this trend during the forecast period.
Which Sales Channel is anticipated to Gain Traction during the Forecast Period?
Based on the sales channel, the hypermarkets/supermarkets category contributed a share of about 27.3% in 2022. People also order small sized home equipment such as resistance bands, punching bags, and dumbbells through online retailers. This segment has seen an increased demand since the pandemic. However, revenue from exclusive stores is anticipated to increase at the highest rate during the projection period with a CAGR of over 7%.
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Attribute |
Details |
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2018-2022 |
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Market Analysis |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Customization & Pricing |
Available upon Request |
Home Fitness Equipment Market by Product Type:
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The global home fitness equipment market reached a valuation of US$ 12 billion at the end of 2022.
Between 2018 and 2022, global sales of home fitness equipment increased at ~4.7% CAGR.
North America leads the global market and accounted for the highest share in 2022.
Some of the leading manufacturers of home fitness equipment are Fitnessathome, ICON Health & Fitness, Inc., Nautilus, Inc., Brunswick Corporation, TRUE Fitness Technology, Inc., Core Health and Fitness, LLC, Precor Incorporated, Johnson Health Tech Co., Ltd., Amer Sports Corporation, Cybex International, Technogym S.p.A., Torque Fitness, LLC, Vectra Fitness, and NordicTrack among others.
The global market for home fitness equipment is expected to expand at ~5.6% CAGR through 2033.
