LONDON--(BUSINESS WIRE)--The global home fitness equipment market size is expected to grow by USD 657.43 million as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 3%. Request Free Sample Report on COVID-19 Impacts
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The market is driven by the rising incidence of obesity population. In addition, the product innovation is anticipated to boost the growth of the Home Fitness Equipment Market.
The number of individuals identified as overweight and obese is on the rise worldwide. While obesity and overweight issues have been common in high income countries, they are on the rise in low and middle-income countries, particularly in urban settings. One of the reasons for this is the increasing consumption of fast food or junk food because of the convenience they offer. Excess weight and obesity have a significant impact on cancer rates. Women are twice as likely to develop obesity-related cancer compared to men. The most common forms are postmenopausal breast, endometrial, and colon cancer. Thus, this has created a market for home fitness equipment to improve productivity and health. The demand for treadmills, elliptical, and stationary bikes is increasing as they help in aerobic and strength training workouts. Thus, rising obesity is expected to drive the growth of the market.
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Major Five Home Fitness Equipment Companies:
Amer Sports Corp.
Amer Sports Corp. has business operations under three segments: outdoor, ball sports, and fitness. The company offers a wide range of home fitness equipment through its Precor brand under the product categories of Ellipticals, Treadmills, Adaptive Motion Trainer, Stationary Bikes, Spinning, Core & Stretching, Climber, Strength, and Accessories.
Core Health & Fitness LLC
Core Health & Fitness LLC operates its business through various segments such as consoles and displays, main floor cardio, indoor cycling bikes, HIIT zone, and weightroom. The company offers home fitness equipment such as StairMaster 8G, Schwinn AC Performance, StairMaster HIIT Rower, and StairMaster SM3 under its Schwinn and StairMaster brands.
Dyaco International Inc.
Dyaco International Inc. has business operations under three geographic segments: Asia, Americas, and Europe. The company offers home fitness equipment such as treadmills, bikes, ellipticals and steppers, and rowers through its Spirit, Sole, Xterra, and UFC brands.
Icon Health & Fitness Inc.
Icon Health & Fitness Inc. operates its business through various segments such as NordicTrack, iFit, ProForm, Freemotion, and Weider. The company offers home fitness equipment under several categories such as treadmills, bikes, elipticals, strength, HIIT trainers, rowers, stationary bikes, and incline trainers through its NordicTrack, ProForm, and FREEMOTION brands.
Impulse (Qingdao) Health Tech Co. Ltd.
Impulse (Qingdao) Health Tech Co. Ltd. offers home fitness equipment such as Impulse HG5 Multi Gym, Impluse IF Olympic Flat Bench, and Impulse IF Power Rack.
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Home Fitness Equipment Market Distribution Channel Outlook (Revenue, USD mn, 2020-2024)
- Offline - size and forecast 2019-2024
- Online - size and forecast 2019-2024
Home Fitness Equipment Market Regional Outlook (Revenue, USD mn, 2020-2024)
- North America - size and forecast 2019-2024
- Europe - size and forecast 2019-2024
- APAC - size and forecast 2019-2024
- South America - size and forecast 2019-2024
- MEA - size and forecast 2019-2024
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