At-Home Fitness Equipment Market Projected to Garner $11,459 Million Revenue by 2027, and Rise at a CAGR of 7.8%

Rise in the young population in developing regions, growth in government initiatives to promote healthy lifestyle, surge in prevalence of obesity, and multifunctional at-home equipment drive the growth of the global at-home fitness equipment market. The market across North America dominated in 2019, and is expected to lead the trail by 2027. Prominent Players: Tonal Systems, Inc., ICON Health & Fitness, Inc., PENT, Technogym, Louis Vuitton, PELOTON, NOHrD, Nordic Track, ProForm, Precor, Inc., Schwinn, JTX Fitness, Keiser Corporation, Corepump, and York Barbell.

As per the report published by Allied Market Research, the global at-home fitness equipment market was pegged at $5.54 billion in 2019, and is projected to reach $11.45 billion by 2027, growing at a CAGR of 7.8% from 2021 to 2027.

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Fitness equipment are widely used for physical fitness, weight management, and improving body stamina & muscular strength. The commonly used at-home fitness equipment are treadmills, stationary cycles, stair climbers, rowing machines, elliptical, and free weights. Rise in awareness regarding health & fitness, increase in obese population, government initiatives to promote healthy lifestyle, and increase in youth population are the major factors that drive the growth of the global at-home fitness equipment market. Moreover, upsurge in youth population, improved lifestyle, and rise in disposable income of individual in developing countries are anticipated to offer immense opportunities for the market players.

An alarming rise in global obesity, especially in urban areas, supplements the growth of the at-home fitness equipment market. According to WHO, in 2016, around 1.9 billion adults were overweight and of these around 650 million were obese. Obesity is associated to a number of health issues 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 of fitness equipment, thereby increasing the sales for these products.

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Further, the growing adoption of artificial intelligence (AI) and machine learning technology in the at-home fitness equipment is driving the global at-home fitness equipment market. It is expected that the AI based personal trainer is the upcoming trend in the at-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 its users based on health data collection. This will boost the at-home fitness equipment market in future.

Companies can operate their business in highly competitive market by launching new products or updated versions of existing products. Partnership/collaboration agreement with key stakeholders is expected to be a key strategy to sustain in the market. In the recent past, many leading players opted for product launch or partnership strategies to strengthen their foothold in the market. To understand the key trends of the market, strategies of leading players are analyzed in the report. Some of the key players in the fitness equipment market analysis includes Tonal Systems, Inc., ICON Health & Fitness, Inc., PENT, Technogym, Louis Vuitton, PELOTON, NOHrD, Nordic Track, ProForm, Precor, Inc., Schwinn, JTX Fitness, Keiser Corporation, Corepump, and York Barbell.

Key findings

North America dominates in terms of at-home fitness equipment market share and is expected to retain its dominance during the forecast period.
In 2019, based on product type, the cardiovascular training equipment segment leads in terms of market share, and is expected to gain market share in the upcoming years
The free weights segment is poised to grow at highest CAGR during the forecast period.
Households segment is expected to gain market share in the upcoming years and is estimated to grow at a CAGR of 9.6% during the forecast period.
Based on region, Europe is anticipated to grow with robust CAGR of 7.6% during the forecast period.

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