LONDON--(BUSINESS WIRE)--The global home fitness equipment market size is poised to grow by USD 657.43 million during 2020-2024, progressing at a CAGR of over 3% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The increased awareness about the importance of health and fitness as one of the primary growth factors for this market. Consumers are increasingly becoming aware of the importance of exercising and the availability of new and advanced equipment. To increase customer awareness, vendors in the market have started using interactive videos and pages on social media channels to provide guidance directly from the experts. Fitness professionals provide a variety of fitness services such as workout routines, workout calculators, and training tips to a variety of people with varying levels of fitness. The increasing initiatives taken by vendors to educate people about fitness will significantly contribute to the growth of the home fitness equipment market size.
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- The major home fitness equipment market growth came from offline distribution channel segment. The steady rise in the number of stores that offer home fitness equipment is a major factor driving the growth of the offline segment. These stores often have customer-care professionals to offer advice on the benefits of the equipment, which is a major reason why people prefer these stores.
- North America was the largest home fitness equipment market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The presence of a large population that is health-conscious and able to afford home fitness equipment will significantly drive home fitness equipment market growth in this region over the forecast period.
- The global home fitness equipment market is fragmented. Amer Sports Corp., Core Health & Fitness LLC, Dyaco International Inc., Icon Health & Fitness Inc., Impulse (Qingdao) Health Tech Co. Ltd., Johnson Health Tech Inc., Life fitness, Nautilus Inc., TECHNOGYM Spa, and Tunturi New Fitness BV. are some of the major market participants. To help clients improve their market position, this home fitness equipment market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global home fitness equipment market 2020-2024 is expected to have Positive and Superior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/home-fitness-equipment-market-industry-analysis
Rise in Preventive Healthcare will be a Key Market Trend
The rise in preventive healthcare will be one of the key fitness equipment industry trends gaining traction. The growing health consciousness and the rising healthcare costs are inducing customers to consume healthy food and engage in regular workouts to remain fit. The consumers are increasingly consuming healthy food and are engaging in rigorous exercise regimes that aid in weight control, skin health, and enhanced immunity and energy levels, which improves the overall health of the body. The rising adoption of preventive healthcare, which involves routine exercise, is increasing the demand for home fitness equipment.
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Home Fitness Equipment Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist home fitness equipment market growth during the next five years
- Estimation of the home fitness equipment market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the home fitness equipment market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of home fitness equipment market vendors
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- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Distribution channel
- Market segments
- Comparison by Distribution channel
- Offline - Market size and forecast 2019-2024
- Online - Market size and forecast 2019-2024
- Market opportunity by Distribution channel
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Amer Sports Corp.
- Core Health & Fitness LLC
- Dyaco International Inc.
- Icon Health & Fitness Inc.
- Impulse (Qingdao) Health Tech Co. Ltd.
- Johnson Health Tech Inc.
- Life fitness
- Nautilus Inc.
- TECHNOGYM Spa
- Tunturi New Fitness BV
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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