Home Gym Equipment Market is projected to be valued at USD 6.34 Billion by 2024 at a CAGR of 4.41% from 2019 to 2024. Changes in lifestyles due to busy work schedules and unhealthy eating habits are leading to a focus on fitness. Additionally, a rise in the prevalence of chronic diseases and obesity are driving the growth of the global home gym equipment market. However, the high costs of the exercise machines have led to consumers opting to join well-equipped gyms or fitness clubs, which is likely to affect the growth of the global home gym equipment market to an extent. Nevertheless, the incorporation of smart devices in fitness machines and development of wearable technology provide lucrative opportunities to market players during the forecast period.
Introduction of connected and smart gym equipment, machines, and devices
Growth Opportunities in the Market
- Popularity of cardiovascular training equipment: The cardiovascular training equipment segment dominated the global home gym equipment market size in 2018 and is expected to maintain its dominance during the forecast period. Treadmills, elliptical trainers, exercise bikes, rowing machines, and stair machines are the most common and popular cardiovascular equipment for home use. Cardiovascular training equipment elevates the heart rate and offers a full-body workout. It also aids in weight loss and maintaining overall health and fitness. These benefits are expected to drive the growth of the segment during the review period.
- Specialty stores to remain a popular choice for the purchase of home gym equipment: Specialty stores are the preferred choice for buying home gym equipment due the wide range of products of specific brands and focus on customer service, which includes in-depth information about the products, demonstrations, and expert guidance to help in the decision-making process, thus, enhancing the shopping experience. Moreover, specialty stores offer after-sales services.
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- Cybex International, Inc. (US)
- Icon Health & Fitness, Inc. (NordicTrack) (US)
- Nautilus, Inc. (US)
- Technogym SpA (Italy)
- Johnson Health Tech. Co., Ltd. (US)
- Amer Sports Oyj (Precor) (Finland)
- True Fitness Technology, Inc. (US)
- Vectra Fitness Parts LLC. (US)
- HOIST Fitness Systems, Inc. (US)
- Hammer Sport AG (Germany)
- DHZ Fitness Europe GmbH (Germany)
- Tunturi New Fitness B.V. (Netherlands)
- Fitness EM LLC. (US)
- Kettler (GB) Limited (UK)
- Impulse (Qingdao) Health Tech Co., Ltd (China)
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