According to SPER Market Research, the Home Fitness Equipment Market is predicted to grow at a CAGR of under ten percent during the forecast period. A number of factors, including increased knowledge of the need of living a healthy lifestyle, an increase in the prevalence of chronic diseases, and rising personal disposable income, can be attributed to this rise in the market value for home exercise equipment. “Home fitness equipment” refers to items used in homes for physical activity and activities related to fitness.
A wide range of home workout equipment is available through both online and offline distribution channels. Home exercise equipment is designed for everyone, regardless of their gender or age. However, they must be used with the proper caution. The market for home exercise equipment is expanding as a result of rising urbanisation, modernization, and adoption of healthier lifestyles. The number of young people, knowledge of the value of maintaining health, and development in personal discretionary spending are some other indirect factors driving the home exercise equipment industry. The market for home fitness equipment will expand as obesity and overweight people become more prevalent. Long-term, the increased incidence of cardiovascular diseases could create considerable economic opportunities. There will be a rise in demand for home exercise equipment as a result of the overall expansion and growth of the health and wellness industry. The need for home exercise equipment has grown even more after the most recent coronavirus outbreak.
Home Fitness Equipment Market Overview:
Forecast CAGR (2022-2032): 4.93%.
Forecast Market Size (2032): 19.41 billion.
Impact of COVID-19 on the Global Home Fitness Equipment Market:
Most fitness facilities and gyms have had to close in the recent months in order to stop the spread of COVID-19. Due to this, there is a significant demand for home workout equipment including rowing machines, treadmills, and bikes. As a result, sales of workout equipment from online sellers have significantly increased. The COVID-19 pandemic has changed the fitness business and given a boost to at-home exercise programmes. With the surge in home gym equipment sales on the internet, home fitness has emerged as a noteworthy business potential. The COVID-19 epidemic has had a devastating impact on people’s health and access to healthcare, in addition to other negative effects on businesses and the overall economy. The global market for exercise equipment was also impacted by IT. Closed gyms may significantly increase the culture of home-workouts and the demand for exercise equipment for the house if quarantine and social isolation measures are maintained. The main issues worldwide are the rise in health consciousness among consumers brought on by the occurrence of hazardous diseases like COVID-19 and the rising incidence of cardiovascular diseases, diabetes, and osteoarthritis. The key driver fostering the expansion of the fitness equipment market is rising consumer preference for a fit and healthy lifestyle. Additionally fuelling the market’s expansion is a rise in the number of health clubs and fitness facilities around the world.
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Home Fitness Equipment Market Key Segments Covered:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
- Barbells & Ladders
- Elliptical and Others
- Extension Machines
- Free Weights
- Low-end Products
- Mid-grade Products
- High-end Products
By Distribution Channel:
- Online Shops
- Specialty Stores
- Other Distribution Channels
By End User:
By Training Type:
- Cardiovascular Training Equipment
- Strength Training Equipment
Middle East & Africa
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
Home Fitness Equipment Market Key Players:
This study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as: Amer Sports Oyj, Corepump, HOIST Fitness Systems, ICON Health & Fitness Inc., Johnson Health Tech. Co., Ltd., JTX Fitness, Keiser Corporation, Louis Vuitton, Nohrd, Nordic Track, Peloton, Precor Inc., ProForm, Schwinn, Technogym Spa, Tonal Systems Inc., True Fitness, Vectra Fitness, York Barbell.
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