Pune, India, April 15, 2021 (GLOBE NEWSWIRE) – The global Home Fitness Equipment Market is being stimulated by the increasing development of intelligent treadmills. They help to precisely monitor the running and running speed as well as the heart rate. They can also be easily folded for easy mobility. For example, in February 2021, Peloton introduced an affordable version of The Tread, a smart treadmill, in May in the United States. Fortune Business Insights ™ presents this information in a new report entitled “Home Fitness Equipment Market 2021-2028”. According to the report, the home fitness equipment market size is expected to grow from $ 10.73 billion in 2021 to $ 14.74 billion in 2028, with a CAGR of 4.6% over the forecast period. In 2020 it was $ 10.18 billion.

COVID-19 Pandemic: Gyms Closing To Increase Home Fitness Equipment Sales

The COVID-19 pandemic has increased the number of people exercising from the comfort of their homes. Strict lockdown standards by regulators in various countries have resulted in the temporary closure of public gyms and fitness facilities. Home fitness equipment sales grew 170% in May 2020 amid the pandemic, according to Business Wire. Our reports provide accurate information about the current state of the industry.

List of Leading Companies Distinguished in Global Exercise Bike Market Are:

  • Icon Health & Fitness, Inc. (Utah, USA)
  • Johnson Health Tech Co., Ltd. (Wisconsin, USA)
  • Amer Sports Corporation (Helsinki, Finland)
  • Core Health & Fitness, LLC (Washington, USA)
  • Nautilus, Inc (Washington, USA)
  • Technogym SpA (Italy)
  • Hoist Fitness Systems (California, USA)
  • Fitness World AS (Denmark)
  • HAMMER SPORT AG (Germany)
  • Rogue Fitness. (Ohio, United States)

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Segmentation-

Cardiovascular exercise equipment segment held the largest share in 2020

Based on the sales channel, the home fitness equipment market is divided into offline and online. By type, it is divided into strength training equipment and cardiovascular exercise equipment. Of this, the cardiovascular training equipment segment generated the largest market share in home fitness equipment in 2020. This growth is due to the increasing use of the devices as they help improve the health of people with high blood pressure, diabetes, and heart diseases.

Report coverage

The Exercise Bike Industry Research Report provides detailed information on value chain optimization, recent developments, import and export analysis, market share, production analysis, trade regulations, strategic growth analysis, impact of domestic and localized organizations, application niches, geographic expansions, emerging sales pockets, technological innovations, product approvals and Category Markets Growth.

Key factors and limitations-

The increasing need to prevent diabetes and cancer will encourage growth

The increasing cases of obesity around the world are expected to fuel the growth of the home fitness equipment market in the near future. The Behavioral Risk Factor Surveillance System (BRFSS) noted that adult obesity rates exceeded 25% in 48 states, 30% in 35 states, and 35% in 12 states as of September 2020. That being said, increasing awareness of the benefits of regular exercise in preventing numerous health problems such as cancer, diabetes, and heart disease would accelerate the demand for home fitness equipment. However, in low- and middle-income countries, the equipment is not as popular because of its high cost. It can hinder growth.

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Regional insights

Increasing demand for million dollar homes to help North America dominate

Geographically, North America had sales of $ 3.55 billion in 2020. This growth is due to the rising number of million dollar homes. The demand for home gyms is increasing. The presence of major home fitness equipment companies such as Cybex International, Life Fitness and Precor Incorporated in the region would also fuel growth. In the Asia-Pacific region, on the other hand, significant growth is expected in the coming years. Increasing government initiatives to promote health and physical education in schools and universities will increase growth. In December 2019, for example, the Indian government announced to the press information office that health and physical education classes are compulsory for grades 1 to 10.

Competitive landscape

Key players focus on acquisition strategy to jointly develop new products and compete with rivals

The world market for home fitness equipment is home to a large number of well-known manufacturers. Most of them participate in the acquisition strategy to develop unique products to gain more shares.

The following are the two latest industry developments:

  • December 2020: Peloton acquired Precor, an exercise equipment manufacturer, for $ 420 million. It will help the company meet promised delivery times and speed up production.
  • June 2020: Lululemon planned to acquire Mirror, an in-home fitness company, for USD 500 million to strengthen its position and sell more exercise clothing and equipment.

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Detailed table of contents:

  • introduction
    • Scope of research
    • Market segmentation
    • Research methodology
    • Definitions and Assumptions
  • Summary
  • Market dynamics
    • Market leader
    • Market restrictions
    • Market opportunities
    • New trends
  • Important findings
    • Overview of the parent / related markets
    • Industry SWOT analysis
    • Supply chain and regulatory analysis
    • Recent industry developments – policies, partnerships, new product launches, and mergers and acquisitions
    • Qualitative analysis (regarding COVID)
  • Global Exercise Bike Market Analysis, Insights, and Forecasts, 2017-2028
    • Main results / summary
    • Estimates and forecasts of market size
      • By type (value)
        • Cardiovascular exercise equipment
        • Strength training equipment
      • By sales channel (value)
      • By region (value)
        • North America
        • Europe
        • Asia Pacific
        • South America
        • Middle East & Africa

Table of contents continued…!

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