Global Home Fitness Equipment Market to Reach USD 19,911.38 Million by 2031 | CAGR of 7.1%
Category : Consumer Goods | Published Date : Nov 2024 | Type : Press Release
Home Fitness Equipment Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Home Fitness Equipment Market size was valued at USD 11,461.75 million in 2023 and is projected to grow at a CAGR of 7.1%, reaching USD 19,911.38 million by 2031. Home fitness equipment includes treadmills, elliptical machines, exercise bikes, and other apparatus designed for residential setups to enhance strength, conditioning, and overall fitness outcomes. These devices offer benefits such as convenience, cost efficiency, and personalized exercise options, making them an increasingly popular choice among fitness enthusiasts.
The report comprises the Home Fitness Equipment Market Share, Size & Industry Analysis, based on Product Type (Treadmills, Elliptical Machines, Exercise Bikes, Rowing Machines, Strength Training Equipment, Others), Price Range (Low, Medium, High), Sales Channel (Online, Offline), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Home Fitness Equipment Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profiles, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Segmental Analysis :
Based on product type, the market is segmented into Treadmills, Elliptical Machines, Exercise Bikes, Rowing Machines, Strength Training Equipment, and Others.
- The treadmills segment accounted for the largest market share in 2023, driven by their widespread use in cardio training, offering benefits like improved cardiovascular health, weight loss, and bone health.
- The strength training equipment segment is projected to grow at the fastest rate, supported by increasing demand for resistance training apparatus to enhance muscle strength and endurance.
Based on price range, the market is segmented into Low, Medium, and High.
- The medium segment held the largest market share in 2023, attributed to the availability of high-quality fitness equipment at economical prices, appealing to a broad customer base.
- The high-price segment is anticipated to grow at a significant CAGR, fueled by rising disposable incomes and increasing demand for advanced, feature-rich fitness equipment.
Based on sales channel, the market is bifurcated into Online and Offline.
- The offline segment dominated the market in 2023, driven by the credibility, ease of customization, and strong customer base associated with specialty stores and retail outlets.
- The online segment is expected to witness the fastest growth during the forecast period, supported by benefits like product accessibility, flexibility, and quick price comparisons offered by e-commerce platforms.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
- Asia-Pacific: Accounted for the largest market share in 2023, valued at USD 2,873.46 million, and is expected to grow at the highest CAGR of 7.7%, driven by urbanization, rising disposable incomes, and increasing health awareness.
- North America: Expected to grow significantly at a CAGR of 7.2%, fueled by the prevalence of obesity and the presence of key fitness equipment manufacturers driving market innovation.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 19,911.38 Million |
| CAGR (2024-2031) | 7.1% |
| Product Type | Treadmills, Elliptical Machines, Exercise Bikes, Rowing Machines, Strength Training Equipment, Others |
| Price Range | Low, Medium, High |
| Sales Channel | Online, Offline |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Home Fitness Equipment Industry:
- BowFlex Inc.
- Johnson Fitness & Wellness
- Origin Fitness Ltd.
- Rogue Fitness
- Technogym S.p.A.
- Dyaco
- TRUE Fitness
- HOIST Fitness Systems
- Decathlon SA
- Core Health & Fitness LLC
Recent Industry Developments :
- June 2022: Johnson Health Tech acquired the fitness division of Cravatex Brands Limited to establish its first wholly-owned subsidiary in India, expanding its product reach and strengthening its position in the regional market.
