At-Home Fitness Equipment Market: Current Analysis and Forecast (2022-2030)
Emphasis on Product Type (Cardiovascular Training Equipment, Strength Training Equipment, Others); Sales Channel (Online, Offline); End-Use Type (Households, Apartments); Region/Country
Global At-home Fitness Equipment Market was valued at US$ 11.15 billion in 2022 and displaying an elevated CAGR of 5.5% over the forecast period (2023-2030). At-home fitness equipment is any apparatus or machine used for physical activity by the consumer at the comfort of their home in order to enhance their muscular strength to remain fit and helps them in managing their body weight.
With the rising number of working professionals and the problems faced by some fitness enthusiasts due to their busy schedules and long working hours, many of the consumers are actively adopting home workout routines which in turn is propelling the market growth. Also, the growing trends of home workouts are providing a boost to home workout equipment sales as more consumers are spending on these products. For instance, in the UK, nearly 53% of the consumers spend an average of USD 218 each on buying home workout products in the last year.
The worldwide demand for home equipment is escalating due to the increase in the global burden of people suffering from chronic diseases including cancer, heart diseases, and diabetes that has inclined people to adopt a healthy lifestyle which will drive the global market of at-home fitness equipment. For instance, according to WHO, 41 million people die every year because of non-communicable diseases accounting for 71% of all deaths all over the world. Furthermore, exercise equipment is gaining huge popularity among fitness enthusiasts owing to the growing trend of bodybuilding which in turn is boosting the market growth.
Some of the major players operating in the market Decathlon, iFitness Inc., Core Health & Fitness LLC, Johnson Tech, Technogym SpA, Nautilus Inc., Echelon US, TRUE Fitness Technology, Inc., Dyaco, Rogue Fitness are some of the prominent players operating in the at-home fitness equipment market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new and innovative equipment.
Insights Presented in the Report
“Amongst Product, cardiovascular training equipment segment holds the major share”
Based on the product type, the market is fragmented into cardiovascular training equipment, strength training equipment, and others. The cardiovascular training equipment segment is expected to hold a major share of the market as users can easily relocate the equipment from one place to another. The use of cardiovascular exercise equipment is growing among seniors who want to stay physically healthy while working out at home and ability builtup mass and make bone stronger, increase flexibility in joint, and other benefits.
“Amongst Sales Channel, offline segment holds the major share”
Based on the sales channel, the market is bifurcated into online and offline. The offline segment is expected to grow with a significan CAGR during the forecast period, as these shops feature a salesperson that helps customers choose products based on their individual needs and provides convenience in the form of post-sale services.
“Amongst End-User, Apartments segment holds the major share”
Based on the end-user, the market is bifurcated into the household and apartments. The apartments segment is expected to grow at a CAGR during the forecast period. These are located within a society or apartment complex, and only members of that society or apartment complex have access to them. Rapid urbanization is the primary factor that is anticipated to drive the expansion of the gym-in apartment segment.
At-Home Fitness Equipment Market Report Coverage
“North America represents one of the largest markets of at-home fitness equipment market”
For a better understanding of the market adoption of the dental clensing tablet industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America held the dominant share of the market as the region has high demand for fitness equipment, particularly owing to a large number of consumers who are more aware and conscious about personal fitness. Furthermore, This is because a greater proportion of fat people live in the area, which increases the use of workout equipment. Cardiovascular disease, stroke, type 2 diabetes, high blood pressure, cancer, and other bone and joint problems are only a few of the long-term negative effects of obesity on health. As a result, there is now more demand in the area for weight control services.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
Customization Options:
The global at-home fitness equipment market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Global At-home Fitness Equipment Market Analysis (2023-2030)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global At-home fitness equipment market were the three major steps undertaken to create and analyze the adoption of At-home fitness equipment in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global at-home fitness equipment market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the at-home fitness equipment through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the at-home fitness equipment market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product, sales channel, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of at-home fitness equipment across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the at-home fitness equipment. Further, we conducted factor analysis using dependent and independent variables such as the increasing disposable income and rising urban population. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the at-home fitness equipment sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the at-home fitness equipment market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of at-home fitness equipment across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the at-home fitness equipment market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the at-home fitness equipment market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type, sales channel and end-user of the at-home fitness equipment market.
The main objective of the At-home Fitness Equipment Market Study
The current & future market trends of at-home fitness equipment were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of At-home fitness equipment in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product, sales channel and end-user
- Define and analysis of the regulatory framework for the At-home fitness equipment industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the At-home fitness equipment market for the major region
- Major regions studied in the report include North America, Europe, Asia-Pacific and Rest of the world
- Company profiles of the At-home fitness equipment market and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry
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