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Redding, California - May 15, 2024

Home Fitness Equipment Market to be Worth $ 14.63 Billion by 2031

Home Fitness Equipment Market Size, Share, Forecast, & Trends Analysis by Type (Cardio [Exercise Bike, Rower, Treadmill, Ellipticals] Strength Training [Dumbbells, Free Weight, Power Racks]) Distribution Channel (Online, Retailer), Price - Global Forecast to 2031


Meticulous Research®—a leading global market research company, published a research report titled ‘Home Fitness Equipment Market Size, Share, Forecast, & Trends Analysis by Type (Cardio [Exercise Bike, Rower, Treadmill, Ellipticals] Strength Training [Dumbbells, Free Weight, Power Racks]) Distribution Channel (Online, Retailer), Price - Global Forecast to 2031.’

According to this latest publication from Meticulous Research®, the global home fitness equipment market is projected to reach $14.63 billion by 2031 at a CAGR of 6% from 2024 to 2031. The growth of this market can be attributed to various factors, such as the high prevalence of obesity and cardiovascular diseases, technological advancements in home fitness equipment, rising disposable income, and increasing health awareness and benefits of regular exercise among people. Furthermore, lack of guidance from a personal trainer or fitness instructor and space requirements for home fitness equipment are restraining the market growth.

The convenience and ease of access propelling the shift to home fitness are expected to offer significant growth opportunities for market players. Moreover, alternative fitness routines and the high cost and maintenance of home fitness equipment are challenges to the market's growth. Also, AI-powered home fitness training sessions are a growing trend in the home fitness equipment market.

Key Players

The key players operating in the global home fitness equipment market are Peloton Interactive, Inc. (U.S.), Cybex International, Inc. (U.S.), Johnson Health Tech. Co., Ltd. (U.S.), ControllerTechnogym S.p.A. (Italy), Dyaco International Inc. (Taiwan), Decathlon SA (France), Precor Incorporated (U.S.), Hammer Sport AG (Germany), Tonal Systems, Inc. (U.S), HOIST Fitness Systems, Inc. (U.S.), and NordicTrack (U.S.).

Home Fitness Equipment Market: Future Outlook

The home fitness equipment market is segmented by Type (Cardiovascular Training Equipment [Exercise bikes {AirBikes, and Stationary Cycles}, Elliptical Machines, Treadmills {Manual Treadmills, and Automatic Treadmills}, Rowers, and Treadclimbers], [Strength Training Equipment, {Free Weights, Power Racks, and Dumbbells}, Other Equipment and Accessories) Price (Low, Medium, and High), Distribution Channel (Online/E-commerce, and Retail) and Geography. The study also evaluates industry competitors and analyzes the market at the global and regional levels.

Among all the products studied in this report, in 2024, the cardiovascular training equipment segment is expected to account for the largest share of the home fitness equipment market. This segment is further categorized into exercise bikes, elliptical machines, treadmills, rowers, and treadclimbers. The largest share of this segment is attributed to the increasing prevalence of cardiovascular diseases, increasing preference for cardio workouts to improve endurance and stamina, and rising concerns toward weight management and fat loss. Regular cardio workouts help in alleviating stress and reducing anxiety, which further contributes to the largest share of the segment.

Among the prices studied in this report, in 2024, the medium-price segment is expected to account for the largest share of the home fitness equipment market. The large market share of this segment is attributed to the higher demand for medium-priced equipment that balances quality and affordability, the wide availability of products in this price range, and the increase in out-of-pocket expenditures.

Among all the distribution channels studied in this report, in 2024, the retail segment is expected to account for the largest share of the home fitness equipment market. The large market share of this segment is attributed to the expansion of global company retail chains and the presence of specialty fitness shops and retail stores. Additionally, consumers who want to seek a personalized shopping experience and physical inspection while purchasing large equipment are supporting the largest share of the market.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of the market in North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Netherlands, Ireland, Denmark and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and Middle East & Africa. Among all regions studied in this report, Asia-Pacific is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing prevalence of cardiovascular diseases in Asian countries, the increasing number of people participating in physical activity, and the growing middle-class population. The market players in this region are expanding their presence in Asia-Pacific to support the growing demand for products in the market. For instance, in December 2023, fitness equipment brand REP Fitness (U.S) formed a partnership with an omnichannel distributor, TheRack.co (Philippines) to expand in the Phillippines due to increased demand for for gym equipment and fitness items in the Philippines.

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Key Questions Answered in the Report:

  • Which are the high-growth market segments in terms of type, price, distribution channel, and region/country?
  • What was the historical market size for home fitness equipment globally?
  • What are the market forecasts and estimates for the period 2024–2031?
  • What are the major drivers, restraints, challenges, opportunities, and trends in the global home fitness equipment market?
  • Who are the major players in the global home fitness equipment market?
  • What is the competitive landscape like in the home fitness equipment market, and who are the market leaders?
  • What are the recent developments in the home fitness equipment market?
  • What are the different strategies adopted by the major players in the global home fitness equipment market?
  • What are the geographical trends and high-growth regions/countries?

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