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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Company Insights
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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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Distribution Channel
Market Segmentation by Type
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
