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The growth of the home fitness equipment market in the manufacturing sector after the COVID-19 pandemic offers enormous opportunities

home fitness equipment market

home fitness equipment market

Fitness equipment is widely used for physical fitness, weight management, and improving body endurance and muscle strength

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, USA, Sept. 21, 2022 / — According to a new report released by Allied Market Research, titled “Home Fitness Equipment Market by Product Type , Distribution Channel, End User, and Price: Global Opportunity Analysis and Industry Forecast, 2021-2027”, Home Fitness Equipment Market Size is Expected to Reach USD 11,459 Million by 2027 at a CAGR by 7.8% from 2021 to 2027 Fitness equipment is widely used for physical fitness, weight management, and improving body endurance and muscle strength. Commonly used home fitness equipment includes treadmills, stationary bikes, stair climbers, rowing machines, ellipticals, and free weights. Rising health and fitness awareness, increasing obese population, government initiatives to promote healthy lifestyle and increasing youth population are the major factors driving the growth of the market world of home fitness equipment. Moreover, the upsurge in youthful population, improved lifestyle and increase in disposable income of individuals in developing countries are expected to provide immense opportunities for market players.

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An alarming rise in obesity globally, especially in urban areas, complements the growth of the home fitness equipment market. According to the WHO, in 2016 about 1.9 billion adults were overweight and among them about 650 million were obese. Obesity is associated with a number of health problems or disorders such as sudden cardiac arrest, hypertension, hypotension, and diabetes. Therefore, to lose weight, reduce stress and improve blood circulation, obese people tend to use more fitness equipment, thus increasing the sales of 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 upcoming trend in the home fitness equipment market. Tech giants such as Google and Apple are engaged in developing their smart wearable devices that can virtually guide and assist their users based on health data collection. This will drive the home fitness equipment market in the future.

The global home fitness equipment market is segmented into product type, distribution channel, end user, price, and region. By product type, the home fitness equipment market is categorized into cardiovascular training equipment, free weights, and power racks. The cardiovascular exercise equipment segment is sub-segmented into treadmills, stationary bikes, rowing machines, ellipticals and others. By distribution channel, the global home fitness equipment market is divided into reseller, online, retail and gym/club. The online segment is further separated between direct distribution and third-party retailers. The retail segment is further fragmented into mass retailer and specialty retailer. By end-user, the home fitness equipment market is divided into household, apartment, and in-apartment gym. By price level, the market is segmented into low, mid and luxury.

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Companies can leverage their business in a highly competitive market by launching new products or updated versions of existing products. Partnership/collaboration agreement with key stakeholders should be a key strategy to maintain in the market. In the recent past, many prominent players have opted for product launch or partnership strategies to boost their presence in the market. To understand the key market trends, the strategies of key players are analyzed in the report. Some of the major players in the 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 conclusions

North America dominates in terms of home fitness equipment market share and is expected to maintain its dominance during the forecast period.
In 2019, based on product type, the cardiovascular exercise equipment segment leads in terms of market share and is expected to gain market share in the coming years
The free weight segment is poised to grow at the highest CAGR during the forecast period.
The household segment is expected to gain market share in the coming years and is expected to grow at a CAGR of 9.6% during the forecast period.
Based on region, Europe is expected to grow with a robust CAGR of 7.6% over the forecast period.

Reason to buy:
✅ Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Home Fitness Equipment market.
✅ Highlights key business priorities to guide businesses in reforming their business strategies and gaining a foothold in the vast geography.
✅ The key findings and recommendations highlight crucial progressive industry trends in the Home Fitness Equipment Market, thereby allowing players to develop effective long term strategies in order to garner their market revenue.
✅ Develop/modify business expansion plans using substantial growth offering in both developed and emerging markets.
✅ Dig deep into the global market trends and outlook associated with the factors driving the market, as well as those restraining the growth to some extent.
✅ Improve the decision-making process by understanding the strategies behind business interest with respect to products, segmentation, and industry verticals.

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David Correa
Allied Analytics LLP
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