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At-Home Fitness Equipment Market by Product Type, Distribution Channel, End User, Price Point : Global Opportunity Analysis and Industry Forecast 2021–2027

At-Home Fitness Equipment Market by Product Type, Distribution Channel, End User, Price Point : Global Opportunity Analysis and Industry Forecast 2021–2027

  • June 2021
  • 235 pages
  • ID: 6126622
  • Format: PDF
  • Allied Market Research

Summary

Table of Contents

At-Home Fitness Equipment Market by Product Type (Cardiovascular training equipment, Free weights, and Power racks), Distribution Channel (Dealers, Online, Retail, and Gyms/Clubs), End User (Households, Apartment, and Gym in Apartment), Price Point (Low, Mid, and Luxury): Global Opportunity Analysis and Industry Forecast 2021–2027

The global at-home fitness equipment market was valued at $5,545 million in 2019, and is projected to reach $11,459 million by 2027, registering a CAGR of 7.8% from 2021 to 2027.
Fitness equipment is any machine or device required for physical exercise to manage overall weight, improve physical stamina, and develop muscular strength. The demand for at-home fitness equipment has increased globally, due to increase in health awareness. The most commonly used at-home fitness equipment include treadmills, stationary cycles, free weights, elliptical and others. Increase in prevalence of obesity and rise in health consciousness have majorly boosted the growth of the global at-home fitness equipment market. Furthermore, upsurge in urban population, rising disposable income, growing health consciousness, growing trend of bodybuilding, and increase in government initiatives to promote healthy life have fueled the adoption of at-home fitness equipment.
The adoption of at-home fitness equipment is expected to increase among the population. Sedentary lifestyles and hectic schedules have led to the adoption of at-home fitness equipment. Exercising at home using fitness equipment saves gym membership expenses. However, space limitation and high cost of equipment restrain the market growth. The penetration of at-home fitness equipment usage is the highest in the U.S. Free weights are among the most commonly used strength equipment and offer fixed as well as adjustable weights.
At-home gym equipment are available with cables and adjustable pulleys that provide options for abdominal, arm, shoulder back, chest exercises, leg press, and calf raises offering customization in a single multipurpose equipment. Furthermore, leading players in the industry are coming up with innovative solutions. For instance, Life Fitness, one of the players operating in the market, offers F3 folding treadmill to home consumers with wireless telemetry heart rate monitoring and convenience of minimal storage space.
The global at-home fitness equipment market is segmented into product type, distribution channel, end user, price point, and region. Depending on product type, the at-home fitness equipment market is categorized into cardiovascular training equipment, free weights, and power racks. The cardiovascular training equipment segment is sub-segmented into treadmills, stationary cycles, rowing machines, and elliptical and others. By distribution channel, the global at-home fitness equipment market is segregated into dealers, online, retail, and gyms/clubs. The online segment is further segregated into direct distribution and 3rd party retailers. The retail segment is further fragmented into mass retailer and specialty retailer. By end user, the at-home fitness equipment market is segregated into households, apartment, and gym in apartment. By price point, the market is segmented into low, mid, and luxury.
Based on the product type, the cardiovascular training equipment is the leading segment because of the increased consumer awareness regarding cardiovascular health. This segment is poised to grow with highest CAGR during the forecast period. The stationery cycles segment accounted for around 41.4% of the total market share in the global at-home fitness equipment market.
Based on distribution channel, dealers segment accounted for the highest market share in 2019 as it is the most preferred distribution channel and it offers products at reasonable prices. The online segment is expected to be the fastest-growing due to upsurge in the internet penetration and growing infrastructure of e-commerce channels.
Based on the end user, the gym in apartment segment dominated the market in 2019 because of the growing trend of adding gyms as basic amenities while constructing apartments in majority of the countries. The households segment is expected to grow at a significant pace due to the outbreak of the COVID-19 pandemic that forces people to stay in isolation at their homes.
Based on the price point, the mid-price point segment is the dominating segment and is expected to retain its dominance during the forecast period. This is because most of the people opt for good quality equipment at a price that fits their budget.
Based on region, the at-home fitness equipment market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America leads in terms of market share, however Europe is estimated to grow with highest CAGR during the forecast period. High disposable income, increased health consciousness, and rising number of obese population in the Europe will lead to increased adoption of exercising and good food habits. Moreover, there is increased the incidence of lifestyle diseases such as obesity, diabetes, heart disease, hypertension, and other bone diseases. Growing awareness among people about long-term consequences of such diseases has encouraged people to stay fit by working out regularly at home. Furthermore, rapid urbanization in developing economies of Asia-Pacific, increasing youth population, and rising per capita disposable income are expected to propel the adoption of at-home fitness equipment in the region.
Companies can operate their business in highly competitive market by launching new products or updated versions of existing products. Partnership/collaboration agreement with key stakeholders is expected to be a key strategy to sustain in the market. In the recent past, many leading players opted for product launch or partnership strategies to strengthen their foothold in the market. To understand the key trends of the market, strategies of leading players are analyzed in the report. Some of the key players in the fitness equipment market analysis includes Tonal Systems, Inc., ICON Health & Fitness, Inc., PENT, Technogym, Louis Vuitton, PELOTON, NOHrD, Nordic Track, ProForm, Precor, Inc., Schwinn, JTX Fitness, Keiser Corporation, Corepump, and York Barbell.
Key benefits for the stakeholder
• This study provides an in-depth analysis of the global at-home fitness equipment market with current trends and future estimations to elucidate the investment pockets in this market.
• The report provides information regarding key drivers, restraints, and opportunities with impact analysis.
• The value chain analysis of the industry highlights the key intermediaries involved and elaborates their roles and value addition at every stage in the value chain.
• The quantitative analysis of the market during the period of 2019–2027 has been provided to elaborate the market potential.

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