The at-home fitness equipment in future will offer
increasingly personalized experiences, catering to individual
preferences, fitness levels, and goals. AI and machine learning
algorithms will analyze user data to provide tailored workout
recommendations, adjust resistance levels, and offer real-time
feedback to optimize performance and results.
WILMINGTON, Del., May 23, 2024 /PRNewswire/ -- Allied Market
Research published a report, titled, "At-home Fitness
Equipment Market by Product Type (Cardiovascular Training
Equipment, Free Weights, and Power Racks), Distribution Channel
(Dealers, Online, Retail, and Gyms/Clubs), End User (Households,
Apartment, and Gym in Apartment), and Price Point (Low, Mid, and
Luxury): Global Opportunity Analysis and Industry Forecast,
2024–2035". According to the report, the global at-home fitness
equipment market was valued at $8.6
billion in 2023, and is projected to reach $21.4 billion by 2035, registering a CAGR of 8.2%
from 2024 to 2035.
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Prime determinants of growth
The increasing awareness of health and wellness is driving the
growth of the at-home fitness equipment market. However, the growth
of the at-home fitness equipment market is restricted by the high
cost of equipment. On the other hand, market expansion and global
reach present remunerative opportunities for the expansion of
at-home fitness equipment during the forecast period.
Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2035
|
Base Year
|
2023
|
Market Size in
2023
|
$8.6 billion
|
Market Size in
2035
|
$21.4
billion
|
CAGR
|
8.2 %
|
No. of Pages in
Report
|
300
|
Segments
Covered
|
Product Type,
Distribution Channel, End User, and Price Point
|
Drivers
|
- Convenience and Accessibility
- Customization and Personalization
- Health and Wellness Trends
|
Opportunities
|
- Expansion of Target Demographics
- Product Innovation
|
Restraints
|
- High Initial Cost
- Space Limitations
|
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The cardiovascular training equipment segment to maintain its
leadership status throughout the forecast period.
By product type, the cardiovascular training equipment segment
held the highest market share in 2023, accounting for nearly
four-fifths of the at-home fitness equipment market share, and is
estimated to maintain its leadership status throughout the forecast
period. The market for cardiovascular training at-home fitness
equipment has grown significantly, with an emphasis on small and
adaptable devices like elliptical trainers, stationary bikes, and
treadmills. Technological advancements like interactive displays
and streaming capabilities have improved user experience and
increased market attractiveness. The free weights segment showcases
the fastest CAGR of 10.8% during the forecast period. Free weights
are still essential for strength training enthusiasts in the market
for at-home fitness equipment. With their adaptability and
efficiency, free weights like barbells, kettlebells, and dumbbells
are still a popular option for those who want to increase their
overall fitness, gain muscle, and improve their endurance in the
convenience of their own homes.
The dealers' segment to maintain its leadership status
throughout the forecast period.
By distribution channel, the dealers segment held the highest
market share in 2023, accounting for two-fifths of the at-home
fitness equipment market revenue and is estimated to maintain its
leadership status throughout the forecast period. Retailers and
online marketplaces that specialize in fitness products are
examples of dealers. They give a large selection of products, offer
professional guidance, handle sales, and frequently provide
post-purchase services and support to improve the customer's
experience. The online segment, however, showcases the fastest CAGR
of 10.8% during the forecast period. With its accessibility and
ease, online channels have emerged as the primary means of
delivering at-home fitness equipment to consumers. Significant
market expansion is being driven by e-commerce platforms, company
websites, and online marketplaces that offer a vast array of
products, virtual demos, user evaluations, and doorstep
delivery.
The gym in apartment segment to maintain its leadership
status throughout the forecast period.
By end user, the gym in apartment segment held the highest
market share in 2023, accounting for nearly two-fifths of the
at-home fitness equipment market share, and is estimated to
maintain its leadership status throughout the forecast period.
Manufacturers meet the needs of urban residents by providing
equipment that saves space. Examples of this equipment include
foldable treadmills, adjustable dumbbells, and small, multipurpose
exercise stations that fit inside apartments. The households
segment showcases the fastest CAGR of 9.4% during the forecast
period. Households are investing in a range of equipment, such as
home gyms, connected fitness devices, and accessories, in order to
achieve their fitness goals from the comfort of their own homes as
the emphasis on health and wellbeing increases.
The mid segment to maintain its leadership status throughout
the forecast period.
By price point, the mid segment held the highest market share in
2023, accounting for two-fifths of the at-home fitness equipment
market revenue and is estimated to maintain its leadership status
throughout the forecast period. This segment showcases the fastest
CAGR of 8.9% during the forecast period. The mid-range at-home
fitness equipment market segment appeals to consumers on a tight
budget who are looking for affordable workout options by achieving
a balance between quality and affordability. Products in this
category often include basic strength training tools like dumbbells
and resistance bands, as well as entry-level cardio equipment like
treadmills and stationary bikes.
North America to maintain
its dominance by 2035.
Based on region, North America
held the highest market share in terms of revenue in 2023 and is
likely to dominate the market during the forecast period. This
region is expected to witness the fastest CAGR of 8.5% from
2024-2035. The market for at-home fitness equipment has grown
rapidly in North America due to
factors such as growing health consciousness, technology
developments, and the comfort of working out at home. The demand
for virtual training platforms, smart home gyms, and connected
fitness equipment has surged, according to companies like Peloton,
NordicTrack, and Bowflex.
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Leading Market Players: -
- Tonal Systems, Inc.
- ICON Health & Fitness, Inc.
- PENT
- Technogym
- Louis Vuitton
- PELOTON
- NOHrD
- Nordic Track
- ProForm
- Precor, Inc.
- Schwinn
- JTX Fitness
- Keiser Corporation
- Corepump
- York Barbell
The report provides a detailed analysis of these key players in
the at-home fitness equipment market. The report is valuable in
highlighting business performance, operating segments, product
portfolio, and strategic moves of market players to showcase the
competitive scenario.
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