Westford USA, Aug. 03, 2023 (GLOBE NEWSWIRE) -- The global Home Fitness Equipment market size is expected to reach USD 17.3 billion by 2030 and exhibit a CAGR of 4.9% in the forecast period (2023−2030), according to Skyquest's latest research report. The growing health and fitness consciousness among individuals, increasing adoption of home-based workout routines, rising demand for convenient and time-efficient fitness solutions, expanding awareness of the benefits of regular exercise for physical and mental well-being, the impact of the COVID-19 pandemic, which led to gym closures and a shift towards home workouts, advancements in technology enabling interactive and connected fitness equipment is fueling the market's growth.
According to SkyQuest's latest global research of the Home Fitness Equipment market, the rising popularity of smart and connected fitness devices, growing demand for space-saving and versatile workout equipment, increasing focus on personalized and adaptive fitness experiences, the emergence of virtual and on-demand fitness content, integration of AI and machine learning in fitness equipment, expanding use of wearable fitness technology, rising interest in gamification of workouts for motivation, the trend of incorporating eco-friendly and sustainable materials in equipment design, the surge in demand for home fitness equipment rentals and subscription-based services, and the growing preference for aesthetically pleasing and stylish fitness equipment that complements home interiors are the trends that aid in the market's growth.
Browse in-depth TOC on "Home Fitness Equipment Market"
- Pages - 242
- Tables - 176
- Figures -79
Home fitness equipment is any piece of equipment that is used to exercise in the home. It can include treadmills, ellipticals, stationary bikes, weight machines, yoga mats, and resistance bands. Home fitness equipment can help people to stay active and healthy at home, without having to go to a gym.
Prominent Players in Home Fitness Equipment Market
- Icon Health & Fitness
- Core Health & Fitness
- Johnson Health Tech
- Nautilus
- Lifecore Fitness
- BH Fitness
- Stamina
- NordicTrack
- Bowflex
- Peloton
- Treadmill Desk
- Sunny Health & Fitness
- Freemotion
- Life Fitness
- Matrix
- Precor
- Concept2
- Echelon
- Schwinn
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Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 11.8 Billion |
| 2030 Value Projection | 17.3 Billion |
| CAGR | 4.9% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Treadmills Demand to Grow Substantially in the Forecast Period
Treadmills dominate the global online market as they are the most popular and widely used home fitness equipment types. They offer a versatile and effective cardiovascular workout, making them suitable for users of various fitness levels. Treadmills also provide the convenience of walking or running indoors, making them a practical choice for home workouts, especially in regions with extreme weather conditions. Their popularity, ease of use, and ability to cater to a wide range of fitness goals may lead to their dominance in the home fitness equipment market.
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Residential Consumers are the Leading Application Segment
In terms of application, residential consumers are the leading segment due to the growing demand for convenient workout options at home. Factors such as time constraints, busy schedules, and the need for privacy and safety during the COVID-19 pandemic have led individuals to invest in home fitness equipment. Additionally, the flexibility and accessibility of home workouts appeal to a wide range of consumers, from beginners to fitness enthusiasts, contributing to the dominance of the residential consumer segment.
North America is the leading Market Due to the Health-conscious Consumers
Region-wise, North America is one of the largest growing markets with health-conscious consumers. The region has many health-conscious consumers who value convenience and flexibility in their workout routines. Additionally, the impact of the COVID-19 pandemic has led to an increased focus on home fitness solutions, further driving the demand for home fitness equipment. The availability of a wide range of home fitness equipment options, strong e-commerce infrastructure, and the presence of key market players in the region may contribute to its potential dominance.
A recent report thoroughly analyzes the major players operating within the Home Fitness Equipment market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Home Fitness Equipment.
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Key Developments in Home Fitness Equipment Market
- In January 2023, ICON Health & Fitness, the maker of treadmills and ellipticals, acquired iFit, a fitness streaming service. The acquisition gave ICON Health & Fitness access to iFit's vast library of workout classes and content, and it helped the company to expand its digital fitness offerings.
- In February 2023, NordicTrack, a maker of treadmills and ellipticals, acquired Freemotion, another maker of home fitness equipment. The acquisition gave NordicTrack access to Freemotion's portfolio of products, and it helped the company to expand its reach in the home fitness market.
Key Questions Answered in Home Fitness Equipment Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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