Home Fitness Equipment Market Scope
Home fitness equipment refers to the equipment especially designed for the home. They are similar to outdoor gym equipment and provide the same benefits. Home fitness comprising an exercise bike, mats, and some free-weights or a comprehensive gym with weight machines, barbells, and more. These equipment aids in managing weight, improving stamina and rising muscular strength of the body. The COVID-19 pandemic has reformed the landscape of fitness and has directed to the at-home fitness industry skyrocketing. Home fitness has become an opportunity, with the boom in the online sales of home gym equipment. In addition to the serious implications on people's health and healthcare services, the COVID-19 pandemic has had a substantial impact on businesses and the economy.
According to AMA, the Global Home Fitness Equipment market is expected to see growth rate of 6.6%The Home Gym Equipment market is fragmented owing to number of players present in the market. Rising awareness about health and fitness supplementing the growth of the home gym equipment market. Consumers prefer smart-connectivity gym equipment that monitors their workouts. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Home Fitness Equipment market throughout the predicted period.
Body-Solid (United States), Bowflex (United States), Nautilus, Inc. (United States), Fitness Gear (United States), LifeSpan Fitness (United States), Marcy (United States), Stamina Products (United States), Fitness World (India), Total Gym (United States), ANTA Sports Products Limited. (China), Johnson Health Tech. Co. Ltd. (United States), Dyaco International Inc. (Taiwan) and Technogym SpA (Italy) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Echelon Fitness Multimedia LLC (United States), Icon Health & Fitness Inc. (United States), Origin Fitness Ltd (Anytime Leisure Limited) (United Kingdom) and Valor Fitness (United States).
Segmentation Overview
The study have segmented the market of Global Home Fitness Equipment market by Type (Cardiovascular Training Equipment [Air Bike, Elliptical Machines, Punching Bag, Rowing Machine, Treadmill, Others], Strength Training Equipment [Ab Wheel, Adjustable Dumbbells, Adjustable Kettlebell, Medicine Ball, Mini Resistance Bands, Pull Up Bars, Weight-Lifting Bench, Others] and Accessories [Foam Roller, Weighted Jump Rope, Others]) and Region with country level break-up.
On the basis of geography, the market of Home Fitness Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Growing Preference for Workout among Youths, Growing Online Distribution Channel and Availability of Smart-Connectivity Home Fitness Equipment
Market Growth Drivers:
Increasing Demand Due to Pandemic Condition of COVID-19 and Rising Number of Obese Population
Challenges:
High-Cost Associated with Fitness Instruments
Restraints:
High-Cost Associated with Fitness Instruments
Opportunities:
Growing Acceptance in Millennials, Rapid Advancements in Home Gym Equipment and Growing Awareness Regarding Weight Management
Market Leaders and their Expansionary Development Strategies
In April 2020, Technogym SpA became an official global fitness equipment partner of Ironman World Championship, Ironman 70.3 World Championship, and Ironman Virtual Racing Series events. The company may provide exceptional indoor training solutions for athletes.
In Aug. 2020, Nautilus, Inc. announced the new Bowflex VeloCore the industry’s first (un) stationary, a dual-mode bike that combines learning technology with digital connectivity for a dynamic full-body workout and an immersive digital experience.
Key Target Audience
Home Fitness Equipment Manufacturers, Potential Investors, Industry Associations, Government & Regulatory Bodies, Marketing and Consulting firm and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.