DUBLIN–(BUSINESS WIRE)–The “Home Fitness Equipment Global Market Report 2020-30: COVID-19 Implications and Growth” report has been added to ResearchAndMarkets.com’s offering.
This report provides the strategists, marketers and senior management with the critical information they need to assess the global home fitness equipment market.
The global home fitness equipment market is expected to grow from $6.76 billion in 2019 to $9.49 billion in 2020 at a compound annual growth rate (CAGR) of 40.4%. The growth is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and other commercial activities that paved way for increasing demand for fitness equipment for home-based workouts and improvement of online fitness content. The market is expected to stabilize and reach $8.62 billion in 2023 at a CAGR of -3.16%.
Reasons to Purchase
The market for home fitness equipment consists of sales of fitness equipment used at home. Home fitness equipment includes devices and machines used for performing and monitoring physical exercises at home for management of weight, improving stamina, developing muscle strength, improving appearance and personality, burning excess fat, simulating heart rate, or treating and recovering from medical conditions and to maintain overall health and fitness. The market consists of revenue generated by the companies manufacturing home fitness equipment by the sales of these products.
In September 2019 Anta Sports, a Chinese sports product company acquired Amer Sports for approximately $5.2 billion. Amer Sports, a leading sporting goods company with a strong portfolio of internationally recognized brands, is a Finnish parent company of Precor which designs and makes gym products such as indoor cycling bikes, running treadmills and elliptical machines. Through this acquisition, Anta Sports adds well-known sports brands like Wilson tennis rackets, Salomon ski boots and Arc’teryx outdoor gear to its portfolio along with the fitness equipment.
Space limitation in homes is expected to limit the growth of the home fitness equipment market. People living in cities are confined to small homes or apartments to manage their expenses, which limits the amount of space for fitness equipment. According to American Council On Exercise, a treadmill or elliptical machine occupies 30 square feet, a stationary bike occupies 10 square feet, a rowing machine occupies 20 square feet, and free weights occupy 20 to 50 square feet of space. Moreover, the average size of a simple weight bench is 50 inches long and 19 inches wide. Therefore, it is difficult for the user to adjust everything in small spaces. Reduced space in houses resulting in space limitation for fitness equipment is hindering the market growth.
Virtual reality fitness equipment, accessories and apps are the emerging trends in the home fitness equipment market to get physical workouts, which can inspire and motivate to keep up fitness goals with fun games and real-life training scenarios. They not only inspire and motivate into working out and firming up the body but also saves thousands of dollars on cross trainers, treadmills and stationary bikes. For instance, the VR Fitness Company is creating the world’s first reality gym experience by providing virtual reality fitness machines that are built to give a safe and fun aerobic session for all fitness levels and making exercise a lot more fun and exciting.
Key Topics Covered:
1. Executive Summary
2. Home Fitness Equipment Market Characteristics
3. Home Fitness Equipment Market Size And Growth
3.1. Global Home Fitness Equipment Historic Market, 2015 – 2019, $ Billion
3.2. Global Home Fitness Equipment Forecast Market, 2019 – 2023F, 2025F, 2030F, $ Billion
4. Home Fitness Equipment Market Segmentation
4.1. Global Home Fitness Equipment Market, Segmentation By Product
4.2. Global Home Fitness Equipment Market, Segmentation By Applications
5. Home Fitness Equipment Market Regional And Country Analysis
5.1. Global Home Fitness Equipment Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Home Fitness Equipment Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Companies Mentioned
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ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
