Fitness equipment is widely used for physical fitness, weight management, and improving body endurance and muscle strength. The most common home fitness equipment used are treadmills, exercise bikes, stair climbers, rowing machines, ellipticals, and free weights. Rising health and fitness awareness, the rise in the obese population, government initiatives to promote healthy lifestyle, and the rise in youth are the main drivers driving the growth of the global home fitness equipment market. In addition, the rise in youth populations, improved lifestyles and the rise in the disposable income of individuals in developing countries are expected to provide immense opportunities for market participants.

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An alarming rise in obesity worldwide, particularly in urban areas, complements the growth in the home fitness equipment market. According to the WHO, around 1.9 billion adults were overweight in 2016, of which around 650 million were obese. Obesity is linked to a number of health problems or disorders such as sudden cardiac arrest, high blood pressure, hypotension, and diabetes. Therefore, in order to lose weight, relieve stress, and improve blood circulation, obese people tend to use more fitness equipment, which increases sales for these products.

Additionally, the increasing adoption of artificial intelligence (AI) and machine learning technology in home fitness equipment is driving the global home fitness equipment market. The AI-based personal trainer is expected to be the coming trend in the home fitness equipment market. Technology giants like Google and Apple are in the process of developing their smart wearable devices that can virtually guide and assist their users based on the collection of health data. This will stimulate the market for home fitness equipment in the future.

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The global home fitness equipment market is segmented into product type, distribution channel, end-user, price, and region. Depending on the product type, the home fitness equipment market is divided into cardiovascular exercise equipment, free weights, and power racks. The segment of cardiovascular exercise equipment is divided into treadmills, stationary bikes, rowing machines and elliptical trainers, and others. By sales channel, the global home fitness equipment market is segmented into dealers, online, retail, and gyms / clubs. The online segment is further divided into direct sales and third-party providers. The retail segment is further fragmented into bulk retailers and specialty retailers. According to end-users, the Home Fitness Equipment market is segmented into Household, Apartment, and Gym in Apartment. The market is divided into low, mid and luxury according to price points.

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Companies can do business in a highly competitive market by launching new products or updated versions of existing products. Partnership / collaboration agreements with key stakeholders are expected to be a key strategy for maintaining the market. In the recent past, many leading players have chosen product launch or partnership strategies to strengthen their market positions. To understand key market trends, the report analyzes strategies from leading players. Key Players in Fitness Equipment market analysis include Tonal Systems, Inc., ICON Health & Fitness, Inc., PENT, Technogym, Louis Vuitton, PELOTON, NOHrD, Nordic Track, ProForm, Precor, Inc., Schwinn, JTX Fitness, Keizer Corporation, Corepump, and York Barbell.

Main results

  • North America dominates in terms of home fitness equipment market share and is expected to maintain its dominance over the forecast period.
  • In 2019, the Cardiovascular Exercise Equipment segment by product type is leading in terms of market share and is expected to gain market share in the years to come
  • The free weights segment will grow with the highest CAGR over the forecast period.
  • The household segment is expected to gain market share in the coming years and grow at a CAGR of 9.6% over the forecast period.
  • Depending on the region, Europe is expected to grow at a robust CAGR of 7.6% over the forecast period.

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