Home Fitness Equipment Market Size, Share & Industry Analysis, By Type (Cardiovascular Training Equipment and Strength Training Equipment), By Sales Channel (Online and Offline), and Regional Forecast, 2024-2032

The global home fitness equipment market size was valued at USD 11.60 billion in 2023 and is projected to grow from USD 12.10 billion in 2024 to USD 18.94 billion by 2032, exhibiting a CAGR of 5.8% during the forecast period.

Home fitness equipment has gained significant popularity as consumers have become more aware of healthy habits, which contributes to several health benefits in the long run. The eagerness to boost energy and motivation in their daily life has helped draw many consumers' attention toward home fitness products. The increasing number of people involved in numerous fitness activities, including biking, jogging, swimming, and others, has surged the product demand as it helps users build stamina in the comfort of their homes.

Home Fitness Equipment Market Trends

Growing Shift Toward Innovative Fitness Products is a Prominent Market Trend

The rising production of smart treadmills that monitor heart rate, jog & run speed, and distance covered and come in a compact, foldable form for easy mobility is expected to be a lucrative opportunity for the market. For instance, in June 2023, DeerRun, a global treadmill brand, launched BA02, a smart under-desk treadmill product, in the European and North American markets. The innovative product is compatible with the PitPat mobile application, allowing users to monitor real-time exercise-related data. In addition, the production of smart dumbbells, which have built-in sensors to monitor the movement of arms and can connect with smart electronic devices, is likely to fuel the product demand. For instance, Bowflex SmartTech 560 dumbbell can be connected to smart devices through Bluetooth, and its sensors can detect arm movement.

Request a Free sample to learn more about this report.

Home Fitness Equipment Market Growth Factors

Rising Health Ailments to Fuel Product Demand

The increasing number of people suffering from obesity is predicted to surge the sales of home fitness machines as they are a crucial tool to reduce weight. For instance, as per the data published by the U.S. Department of Health & Human Services in September 2022, more than 35% of adults in 16 states of the country had obesity. In addition, rising awareness of lack of physical activity led to various health issues, such as heart disease, diabetes, cancer, and others, thereby increasing the demand for these fitness products.

Increasing Inclination Toward Digital Technologies to Aid Market Growth

The increasing popularity of fitness applications in smart devices for enhancing and maintaining personal fitness routines has played a significant role in boosting the market growth. According to the World Economic Forum (WEF), in the first half of 2020, increased awareness of physical fitness during the COVID-19 pandemic caused a 50% increase in the usage of fitness-related mobile applications worldwide. In addition, more people are opting for online fitness sessions and seeking proper guidance on their diet plans, which is expected to augment the need for this product throughout the forecast period. According to the Global Wellness Institute (GWI), global spending on fitness technology-related products reached USD 63.8 billion in 2022, up from USD 56.2 billion in 2021.

RESTRAINING FACTORS

High Product Cost to Hamper Market Growth

Some fitness equipment are sold at a high cost, which can be quite expensive for middle and low-income earners in developing and under-developed countries, thereby restraining the market growth. For instance, according to Fitness Superstore, the price of the Life Fitness F1 Smart Folding Treadmill is USD 3,499. In addition, the growing establishment of commercial gymnasiums across the globe led to decreased spending on home fitness equipment, stifling the market expansion. For instance, according to July 2021 data from the International Health, Racquet & Sportsclub Association, the U.S. had over 32,270 health clubs.

Home Fitness Equipment Market Segmentation Analysis

By Type Analysis

Heart and Muscle Benefits of Cardiovascular Training Equipment to Lead the Segment

Based on type, the market is fragmented into cardiovascular training equipment and strength training equipment.

The cardiovascular training equipment segment is projected to capture the larger market share as this equipment can strengthen the heart and its muscles, and improve the health of people living with heart disease, diabetes, and high blood pressure.

To know how our report can help streamline your business, Speak to Analyst

The strength training equipment segment is also expected to have a robust market presence due to the product's ability to increase muscle mass and make bones stronger, increase flexibility in joints, and other major benefits.

By Sales Channel Analysis

Instant Customer Support from Offline Channels to Augment Segment’s Demand

Based on sales channel, the market is segmented into online and offline. Offline channel is anticipated to be the leading segment due to its ability to eliminate wait time on deliveries. These stores also have a salesman who guides customers to buy products as per their specific needs and offer convenience in terms of after-sale services.

The online segment has also witnessed robust growth as it provides convenience to many consumers who don’t want to spend a lot of time looking for products in multiple stores.

REGIONAL INSIGHTS

To get more information on the regional analysis of this market, Request a Free sample

North America holds the largest global home fitness equipment market share. The rising number of luxurious homes has increased the establishment of a home gymnasium, which will improve the product consumption considerably. In addition, domestic brands of this region, such as Precor Incorporated, Life Fitness, Cybex International, and others have a wide range of attractive product offerings, which will assist in bolstering the product demand.

Asia Pacific is estimated to have a robust presence in the global market. The rising number of dual-income households has spiked the spending on home fitness equipment, thereby driving the market growth. In addition, governments across the region are taking certain steps to promote fitness and physical education in schools, which has helped the product gain major traction among customers.

To know how our report can help streamline your business, Speak to Analyst

Due to the high per capita income, Europe is projected to show substantial growth in the coming years. Customers are increasing their investments in personal health & fitness products, including home fitness equipment. Furthermore, the growing number of people involved in regular exercise has played a crucial role in surging the product’s demand across the region.

South America is projected to exhibit considerable growth due to the strong expansion of the region’s e-commerce sector, thereby intensifying the sales of home fitness equipment through online channels. Furthermore, the high Gross Domestic Product (GDP) of various countries in this region is expected to boost the expenditure on fitness products. These factors will significantly contribute to the regional market’s growth.

The Middle East & Africa region is expected to have a considerable presence in the market. Notable growth of the urban population is anticipated to boost the adoption of a healthier lifestyle. This includes having a proper fitness routine at home, which has further surged the product’s consumption rate.

List of Key Companies in Home Fitness Equipment Market

Key Players Are Incorporating AI Technology to Intensify Competition

Key manufacturers operating in the home fitness equipment market are expanding their retail presence in newer markets to build their market position. Furthermore, they are incorporating AI technology into their fitness products. This will help them revolutionize the home fitness equipment industry. For instance, in October 2023, Peleton Interactive, a global fitness products maker, established partnerships with Amazon, Inc., Sport-Tiedje, and other specialty retailers to expand its presence in Austria. Through these partnerships, the company will be able to supply Peloton Bike, Bike+, and select accessories in Austria.

LIST OF KEY COMPANIES PROFILED:

• Icon Health & Fitness, Inc. (U.S.)


• Johnson Health Tech Co., Ltd. (U.S.)


• Amer Sports Corporation (Finland)


• Core Health & Fitness, LLC (U.S.)


• Nautilus, Inc. (U.S.)


• Technogym S.p.A. (Italy)


• Hoist Fitness Systems (U.S.)


• Fitness World AS (Denmark)


• HAMMER SPORT AG (Germany)


• Rogue Fitness. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• September 2022 – Reach, a sports and fitness equipment brand, launched a made-in-India motorized treadmill, T-400, a sleek, high-quality aluminium model in India. The T-400 model consists of a high-power 4HP Peak DC motor, multilayer running belt, and wheels.


• June 2021, Cult. Fit, an Indian fitness and wellness platform, acquired TREAD, a Bengaluru, India-based smart fitness bike maker, to strengthen its hardware at-home business vertical.


• April 2021 – Katapult partnered with Expert Fitness Supply to improve its retail chain operations and increase its product portfolio regarding commercial treadmills, rowers, and home gym equipment.


• March 2021 – Nordstrom collaborated with Tonal Fitness Organization to increase its retail shop inventories, including strength training machines and weight training machines.


• January 2021 – Matrix Fitness partnered with iFit to implement iFit-powered technology in its home fitness equipment range.

REPORT COVERAGE

An Infographic Representation of Home Fitness Equipment Market

View Full Infographic

To get information on various segments, share your queries with us

The home fitness equipment market research report provides a detailed market analysis and focuses on key aspects, such as leading companies, end-users, and product types. Besides this, it offers insights into the current market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the market's growth in recent years.

Report Scope & Segmentation