Portland, OR, June 17, 2021 (GLOBE NEWSWIRE) – According to report released by Allied Market Research, the global Home Fitness Equipment Market was set at $ 5.54 billion in 2019 and is projected to reach $ 11.45 billion by 2027, increasing at a CAGR of 7.8% from 2021 to 2027.

The rise of young populations in developing regions, the growth of government initiatives promoting healthy lifestyles, the rise in obesity prevalence, and multifunctional home devices are driving the growth of the global home fitness equipment market. However, rental of fitness equipment, high cost of Fitness equipment for the home, and alternatives to home training are hindering market growth. On the contrary, it is expected that the development of connected fitness equipment technology and the use of virtual (VR) in fitness equipment for the home will create lucrative opportunities in the near future.

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Covid-19 scenarios

  • The Covid-19 pandemic led to increased adoption of fitness equipment for the home due to increased health concerns and awareness of the side effects of a hectic lifestyle.
  • The closure of gyms and fitness studios has further increased the demand for fitness equipment for the home.

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The global home fitness equipment market is segmented based on product type, sales channel, end-user, price, and region. In terms of product type, the cardiovascular training equipment segment dominated in 2019 with a market share of more than four fifths. However, the free weights segment is expected to have the fastest CAGR of 11.7% over the forecast period.

Based on the users, the households segment is expected to record the fastest CAGR of 9.6% in the forecast period. On the flip side, the fitness studio had the largest share in the apartment segment in 2019 with more than two-fifths of the market and is set to maintain its dominance through the end of 2027.

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The global home fitness equipment market is analyzed in various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2019, accounting for more than three-fifths of the market. The same region is expected to have the highest CAGR of 8.1% during the investigation period.

Global Home Fitness Equipment Market report includes an in-depth analysis of key market players such as Nordic Track, ProForm, Precor, Inc., Tonal Systems, Inc., ICON Health & Fitness, Inc., PENT, Technogym, Louis Vuitton, PELOTON, NOHrD , Schwinn, JTX Fitness, Keizer Corporation, Corepump, and York Barbell.

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Similar reports we have about the fitness industry:

Fitness Equipment Market By Type (cardiovascular exercise machines, strength training machines, and other devices) and end-users (home consumers, gyms, and other commercial users): Global Opportunity Analysis and Industry Forecast, 2020-2027.

Personal trainer market by activity (exercise guide, exercise demonstration, diet guide, and fitness advice) and by end-user industry (health and fitness centers, hospitals, and in-house) – Global Opportunity Analysis and Industry Forecast, 2021-2028

Weight Loss Management Market By Services (Slimming Centers, Fitness Centers, Counseling Services and Weight Loss Programs), Nutrition (Food, Beverage), Medicines & Supplements, Equipment (Fitness, Surgical Devices) – Global Opportunity Analysis and Industry Forecast, 2021-2028

Online / virtual fitness market by streaming type (live and on-demand), device type (smart TV, smartphones, laptops, desktops and tablets and others), session type (group and solo), revenue model (subscription, advertising and hybrid) and end-user (professional gyms, sports institutes , Defense Institutions, Educational Institutions, Corporate Institutions, Individuals, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027

Fitness app market By Deployment (Android, iOS, and Others), Type (Diet and Nutrition, Exercise and Weight Loss, and Others), and Platform (tablets, smartphones, and wearable devices): Global Opportunity Analysis and Industry Forecast, 2020-2027

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Allied Market Research (AMR) is a full-service market research and management consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides unmatched quality of Market Research Reports and Business Intelligence Solutions to global corporations as well as medium and small businesses. AMR provides targeted business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas.

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