Home Fitness Equipment Market

Global Home Fitness Equipment Market Size (2024 to 2029)

The global home fitness equipment market is expected to grow at a CAGR of 4.12% from 2024 to 2029 and be worth USD 15.47 billion by 2029 from USD 12.64 billion in 2024.

Home fitness equipment consists of machines and devices to help control physical exercise. Physical fitness includes all aspects of life and health that affect our physical, mental, and social health. A healthy and fit person can perform general life activities, such as work, but has enough energy and vitality to respond to emergencies and enjoy leisure activities. They will help control our weight, improve fitness, strengthen muscles, and solve some medical problems.

Global Home Fitness Equipment Market Drivers:

The growing fitness and health consciousness among people and rising home gym trends worldwide are primarily driving the growth of the home fitness equipment market. People have started taking health and fitness on a priority basis and investing considerably more money and time than in the earlier days. The affluent population is showing interest in setting up home gyms and the trend is taking a flight slowly. For instance, online searches for "home gym equipment" increased by 180% in the past year.

The growing urbanization, increasing disposable income, technological advancements in fitness equipment and rapid adoption of home-based workouts are promoting the global market growth. According to a survey done by the World Economic Forum, the downloads of health and fitness apps increased by 46% in 2020. An increasing number of product launches from key market participants that allow a growing population aware of exercise and home workouts around the world is primarily driving the growth of the home fitness equipment market. The growing health awareness among youth and adult groups is boosting the demand levels of home fitness equipment and supporting the global market growth.

The governments of several countries along with healthcare professionals have been continually working to promote the benefits of physical fitness, thus creating health awareness in society considering the growing patient population suffering from chronic diseases. For instance, obesity in developed countries is a paramount concern. The COVID-19 pandemic has contributed to the home fitness equipment market significantly. As per a survey, an estimated 42% of people who worked remotely during the COVID-19 pandemic have invested in home fitness equipment.

Global Home Fitness Equipment Market Restraints:

The high cost of home fitness equipment mainly affects the growth of the global home fitness equipment market. Limited physical space in homes, concerns about product quality and durability and perceived lack of professional guidance are further hindering the growth of the home fitness equipment market.

REPORT COVERAGE:

This research report on the global home fitness equipment market has been segmented and sub-segmented based on equipment, end-user and region.

Global Home Fitness Equipment Market - By Type of Equipment:

• Cardiac-Respiration Equipment
• Muscle Equipment
• Flexibility Equipment
• Body Exercise Equipment

Based on the type of equipment, the cardiac-respiration equipment segment dominated the market in 2023, accounting for 34.7% of the global market share and the domination of the segment is likely to continue throughout the forecast period. The growth of the cardiac-respiration equipment segment is primarily attributed to the growing focus on cardiovascular health, the rising prevalence of sedentary lifestyles, the demand for home-friendly cardio equipment, the convenience of at-home workouts, and technological advancements in smart cardio equipment. The integration of virtual fitness classes and heart rate monitoring in smart treadmills are further favoring the growth of the cardiac-respiration equipment segment in the global market.

The muscle equipment segment was the second largest segment in the global market in 2023 and is anticipated to showcase remarkable growth during the forecast period. Factors such as rising interest in strength training, the popularity of weightlifting and the shift towards body sculpting and toning workouts are driving the growth of the muscle equipment market in the global market.

Global Home Fitness Equipment Market - By End-User:

• Hospitals
• Gyms/Health Clubs
• Home Care

Based on end-users, the gyms/health clubs segment had the largest share of the global home fitness equipment market in 2023 and is expected to grow steadily during the forecast period owing to the growing adoption of virtual fitness platforms by gyms that offer members the flexibility to access workouts remotely and enhancing the overall fitness club experience.

On the other hand, the home care segment is anticipated to showcase promising growth during the forecast period due to shifting preferences towards home workouts, convenience, and the impact of the COVID-19 pandemic on the home fitness equipment market.

Global Home Fitness Equipment Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East, and Africa

North America led the home fitness equipment market in 2023, holding 41.7% of the global market share and the domination of the North American region in the global market is expected to be seen throughout the forecast period. The growing awareness of health and fitness, home gym adoption, and advancements in fitness technology are propelling the home fitness equipment market in North America. The U.S. dominates the home fitness equipment market in North America, followed by Canada. Canada has seen a 45% growth in the sales of home gym equipment in 2022.

Europe is another lucrative regional market and accounted for 22.9% of the global market share and is predicted to register a prominent CAGR during the forecast period. Factors such as the growing emphasis on personal health, the popularity of boutique fitness trends, an increasing number of initiatives from the governments of several European countries promoting active lifestyles and rapid adoption of smart home fitness solutions in countries like Germany are boosting the growth of the European market. The UK led the home fitness equipment market in Europe in 2023, followed by Germany and the same trend is expected to repeat in Europe throughout the forecast period. The demand for smart fitness devices is growing exponentially in Germany, which is majorly driving the German home fitness equipment market.

The Asia-Pacific home fitness equipment market is projected to grow at the highest CAGR during the forecast period owing to the growing disposable income, awareness of fitness benefits, the influence of Western fitness trends, urbanization, the popularity of fitness influencers, the adoption of home workout routines and an increasing demand for affordable home workout equipment in India are propelling the growth of the APAC market. China followed by India dominated the home fitness equipment market in the Asia-Pacific region in 2023.

KEY MARKET PLAYERS:

Companies playing a major role in the global home fitness equipment market include Technogym, Brunswick Corporation, Amer Sports (Precor), Cybex International Inc., Nautilus Inc., Johnson Health Tech, Paramount and Torque.