The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The Global Home Fitness Equipment Market is projected to register a CAGR of 6.2% over the forecast period (2020-2025).
- The home fitness equipment market is driven by the increasing fitness-conscious population across the world and product innovations by leading companies enabling home-based workouts.
- Increasing penetration of the online channel and increased sales of large equipment through online channels has seen the presence of new entrants who have the opportunity to capture market share without too much spending on sales and distribution infrastructure.
Scope of the Report
The Global Home Fitness Equipment Market is segmented by product type into treadmills, elliptical machines, stationary machines, rowing machines, strength training equipment, and other types. By distribution channel, the market is segmented into online and offline channels. The market is also segmented by geography to include the market size, trends, and forecast for the major markets in North America, Europe, Asia-Pacific, South America, Middle East & Africa.
Key Market Trends
Increasing Sales through Online Channels and Usage of Technology
Growth in online category sales of home fitness equipment has been one of the overarching trends in the review period (2016-2019). Online stores offer manufacturers the opportunity to reach more customers without having to spend on costly sales and distribution infrastructure. Moreover, logistics by e-commerce channels have shown tremendous adaptability to the shipping and delivery of large-sized products such as fitness equipment. Beyond the sales through online channels, manufacturers are also leveraging technology in the form of connected devices, which aid in enhanced functionality to the home fitness equipment. Online channels, social media marketing and connected devices provide the right ecosystem for manufacturers to engage with customers in a 360-degree manner and the trend is expected to drive the home fitness market over the forecast period (2020-2025).
North America Leading the Global Market
Increased awareness about healthy lifestyles and higher disposable income has led the North American region to dominate the global market for home fitness equipment. In 2017, the sales of fitness products in the United States crossed USD 5.2 billion, according to the Sports & Fitness Industry Association (SFIA), of which home-based fitness equipment occupied a major chunk. Other trends that dominate the North American market include wearables for self-monitoring and virtual group exercises, both of which are blurring the line between home-based workouts and gym sessions, boosting customer demand for home fitness equipment. Bodyweight Resistance Training, Functional Resistance Training and High-Intensity Interval Training (HIIT) are expected to drive product development by major manufacturers over the forecast period.
The Global Home Fitness Equipment Market is moderately fragmented with leading global and regional players fiercely competing with local manufacturers for market share. The leading players in the industry are also increasingly looking at inorganic growth through mergers and acquisitions and joint ventures with other players
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