NEW YORK, Oct. 9, 2023 /PRNewswire/ — The home fitness equipment market size is expected to grow by USD 3.1 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will be progressing at a CAGR of 9% forecast period. Increased demand for home fitness equipment is notably driving the home fitness equipment market. However, factors such as the rising popularity of other forms of workouts may impede market growth. The market is segmented by Distribution Channel (Offline and Online), Type (Cardiovascular training equipment and Strength training equipment), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The FREE sample report is available in PDF format
North America is estimated to account for 38% of the global market during the forecast period. The substantial growth of the global home fitness equipment market in North America is significantly driven by a health-conscious population with the financial capacity to invest in home fitness equipment. Additionally, the increased prevalence of age-related health conditions is contributing to market expansion. Key countries in North America, notably the US and Canada, are making significant contributions to this growth. Regular exercise has become essential for maintaining a healthy lifestyle, strengthening the immune system, and reducing healthcare expenses by minimizing doctor visits. Consequently, there is a rising demand for home fitness equipment due to its time-saving and convenient nature. Cardiovascular equipment, particularly treadmills, is a prominent sub-segment experiencing high demand in the region due to its user-friendly attributes. As a result, these factors are anticipated to propel market growth in North America during the forecast period.
Key Segment Analysis
- The offline segment is estimated to witness significant growth during the forecast period.
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The home fitness equipment market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including ANTA Sports Products Ltd., Core Health and Fitness LLC, Decathlon SA, Dyaco International Inc., HOIST Fitness Systems Inc., Icon Health and Fitness Inc., Impulse Qingdao Health Tech Co. Ltd., Johnson Health Tech Co. Ltd., Life Fitness, Nautilus Inc., Origin Fitness Ltd., Paradigm Health and Wellness Inc., Rama Enterprises, TECHNOGYM SpA, Torque Fitness, True Fitness Technology Inc., Tunturi New Fitness BV, Wattbike Ltd., WOODWAY Inc., and XMark Fitness
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The fitness and recreational sports centers market is estimated to grow at a CAGR of 9.97% between 2022 and 2027. The market size is forecast to increase by USD 88.61 billion.
The fitness app market size is estimated to grow at a CAGR of 17.1% between 2022 and 2027. The market size is forecast to increase by USD 45.16 billion.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Distribution Channel
Market Segmentation by Type
Drivers, Challenges, & Trends
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