Newark, Dec. 11, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the global at-home fitness equipment market will grow from USD 8.07 Billion in 2022 to USD 17.91 Billion by 2032. Europe has developed a fitness culture over the years, with a large percentage of the population including regular exercise in their daily routines. The focus on physical fitness and a proactive approach to health aligns with the products at-home fitness companies offer. Further, the desire for a wide selection of equipment that can accommodate various workout techniques results from the diversity of fitness professionals among European nations, adding to a varied landscape. Economic reasons also shape the European market share. Even if the continent's nations have different economic situations, Europe as a whole has a relatively high level of disposable income. Customers can purchase at-home exercise equipment thanks to the economy's stability, particularly as they look for practical solutions that fit their hectic schedules.
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Report Scope and Segmentation -
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Forecast CAGR | 8.3% |
| 2032 Value Projection | USD 8.07 Billion |
| Market Size in 2022 | USD 17.91 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 239 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Product Type, Distribution Channel |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Market Growth Drivers | Changing Lifestyle Preferences |
Key Insight of the At-home Fitness Equipment Market
Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.
During the forecast period, Asia-Pacific is expected to grow at the highest CAGR within the global At-home fitness equipment market. The Asia-Pacific region would significantly expand. Emerging nations such as China, India, Japan, and South Korea are prominent countries in the Asia Pacific region. In the Asia-Pacific region, the market for home exercise equipment is expanding due, in large part, to demographic reasons. There is growing interest in incorporating exercise into daily routines due to the region's vast and youthful population and increased health and fitness awareness. Further, more people can now afford to invest in at-home exercise solutions thanks to the growing middle class in many Asian nations. The Asia-Pacific market for home exercise equipment is being significantly shaped by urbanization. People seek small, easy-to-use workout options that fit into small living spaces as metropolitan regions become more densely populated and have limited room. This aspect has caused a high increase in the region's need for portable, space-efficient, at-home fitness equipment.
The strength training equipment segment is expected to grow at the highest CAGR during the forecast period.
The product type segment includes cardiovascular training equipment, and strength training equipment. The strength training equipment segment is expected to grow at the highest CAGR during the forecast period. Within the global at-home fitness equipment market, strength training equipment is a crucial category that caters to the needs of those who want to tone their bodies, increase their muscular strength, and perform resistance-based workouts. This category includes various equipment, such as resistance bands, fitness waists, and multipurpose strength training equipment. Dumbbells and kettlebells, among others, have long been mainstays in strength training. Frее weights for use at home have become more popular as people realize how beneficial strength training is for increasing muscle mass and general strength. Particularly well-liked are adjustable dumbbells, which let users personalize their residual lights without requiring a lot of separate weights.
The online segment is expected to grow at the highest CAGR during the forecast period.
The distribution channel segment is bifurcated into online and offline. The online segment is expected to grow at the highest CAGR during the forecast period. The ease of use that online stores provide for customers is one of the main elements influencing its brand share. The ease of online purchasing is well aligned with the opportunity to browse, compare, and buy fitness equipment from the comfort of one's home. Consumers may access many products, read reviews, and make choices about purchasing equipment without visiting actual stores. Additionally, online e-commerce websites offer a wide assortment of products related to the fitness category. Customers can access a wide selection of at-home fitness equipment, from conventional equipment like dumbbells and treadmills to advanced and smart fitness options. The online shopping channel's attraction is influenced by the availability of products that might not be easily found in offline stores.
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Impact of Covid-19 Pandemic
The pandemic's most noticeable impact on the at-home fitness equipment market has been the rise in demand for at-home workout programs. While traditional fitness centres were temporarily closed, customers looked for safer options within the comforts of their own homes. Salts of at-home fitness equipment, such as treadmills, stationary bicycles, elliptical trainers, dumbbells, and other fitness accessories, increased significantly due to this change in consumer behaviour. The pandemic brought attention to the significance of physical fitness and health, leading people to purchase at-home solutions as a long-term approach to wellness. Despite the relaxation of regulations, there has been a persistent demand for at-home workout equipment due to the awareness of potential disruptions or uncertainty in the future. This article highlights how consumers' perceptions and priorities of their fitness regimes have fundamentally changed. During the pandemic, e-commerce and online shopping platforms saw a notable increase in activity. When physical retailers had to close or open after restricted hours temporarily, customers resorted to in-store malls to buy workout equipment for their homes. This change in consumer behaviour spurred traditional merchants to improve their practices and provide seamless digital shopping experiences, aiding in the expansion of e-commerce.
Market Dynamics
Driver: Accessibility for Individuals with Diverse Needs
One important factor promoting market expansion is the availability of at-home fitness equipment for people with varying needs, such as physical restrictions or health issues. Many gadgets are created with user-friendly interfaces, customizable seating, and adaptive functions to accommodate users with different fitness levels and abilities. This inclusivity expands the model and supports the idea that everyone can achieve fitness regardless of circumstances. Changes in disposable income and economic trends partially shape the global at-home fitness equipment market. Consumers may prioritize affordable fitness options during difficult economic times, making at-home equipment more alluring. On the other hand, when the economy is doing well, people might be more inclined to spend money on high-performance, high-tech exercise equipment, which would spur market innovation. This factor is boosting the market growth and development.
Restraint: Perception of Home as a Relaxation Space
One of the factors that can keep an individual from engaging in intense physical activity is the belief that the house is a place for leisure and pleasure. Some people can find it difficult to psychologically shift from the ease of exercise at home to the strain of a workout. Strategic marketing and education about the advantages of at-home fitness must persuade customers to consider their homes as potential fitness spaces. The possible absence of social interaction during at-home workouts, as opposed to group fitness classes or gyms, is one of the fundamental challenges of this type of exercise. Lack of social interaction might affect motivation; some people may feel alone or be less likely to stick to a regular workout schedule. These factors may limit the market growth.
Opportunity: Technological Advancements
Technological advancement is a major factor driving the at-home fitness equipment market's expansion. The way people approach at-home workouts has changed dramatically due to fitness equipment that incorporates smart features, indoor connectivity, and interactive aspects. Smart treadmills, virtual reality-capable stationary bikes, and interactive mirrors are high-tech equipment that provide customers with an immersive and enjoyable workout. The technical landscape has been significantly enhanced with the introduction of fitness trackers and wearable technologies. Users can now get real-time data, customized feedback, and seamless interaction with other devices and fitness platforms. The growth of online platforms and virtual fitness communities stimulates market growth and development. Users can access various exercise routines and professional supervision through streaming services, fitness apps, and interactive virtual classes. These factors are anticipated to provide lucrative growth opportunities in the upcoming years.
Some of the major players operating in the At-home fitness equipment Market are:
• Tonal Systems Inc.
• ICON Health & Fitness Inc.
• PENT
• Technogym
• Louis Vuitton
• PELOTON
• NOHrD
• Nordic Track
• ProForm
• Precor Inc.
• Schwinn
Key Segments Cover in the Market:
By Product Type:
• Cardiovascular Training Equipment
• Strength Training Equipment
By Distribution Channel:
• Online
• Offline
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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