Home Gym Equipment Market Players, Analysis and Forecasts, 2022-2030
Market Scope
The
home gym equipment market will capture a moderate CAGR of 4.80% from 2022 to 2030,
reveals Market Research Future (MRFR). The market size by 2030 will be around
USD 8.62 billion, adds the new MRFR study.
Major Boosters and Deterrents
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 home gym equipment. These platforms provide the
consumers with extensive knowledge about the latest equipment available in the
global home
gym equipment market. Plus, the huge prominence of various e-commerce channels that
sell these products also push the business growth across the globe.
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.
Market Segmentation
The
global market, with respect to equipment type, caters to cardiovascular
training equipment as well as strength training equipment.
Home
gym equipment industry, in terms of distribution channels, covers store-based
along with non-store-based.
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 major key
home gym equipment market players listed in the research report.
Regional Study
The
home gym equipment industry 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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Report: Information By Application (Residential and Commercial), Product Type
(Cardiovascular Training Equipment and Strength Training Equipment),
Demographics (Men, Women, Unisex, and Kids), Pricing (Premium/ Luxury and
Mass), End User (Recreational and Professional) Distribution Channel
(Supermarkets & Hypermarkets, Specialty Stores, Online, and Others) And By
Region (North America, Europe, Asia-Pacific, Latin America and Middle East
& Africa) - Forecast Till 2030
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NOTE: Our Team of Researchers are Studying Covid19
and its Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
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