Increasing urban population promotes the Global Home Fitness Equipment Market

Market overview:
The global Home Fitness Equipment Market was worth USD 3.9 billion in 2020, and it is estimated that it will reach a valuation of USD 6 billion by 2025 at a CAGR of 5% during the conjecture period.

Home fitness equipment is any machine or device that you need to exercise your body for general weight control, strength improvement, and strength development. The most commonly used home fitness equipment includes ellipticals, treadmills, stationary bike weightlifting, and strength training equipment. Home fitness equipment is used to perform exercises related to physical fitness, weight management, and improvement of a person's strength.

Recent developments:
In 2019, Life Fitness introduced 'Life Fitness Media', an innovative digital advertising platform. This will leverage the company's huge aerobic equipment installation base to provide a unique form of content to fitness enthusiasts who use the company's fitness equipment on a daily basis.
(https://www.gurufocus.com/news/868416/life-fitness-launches-innovative-digital-outofhome-advertising-platform)
In 2019, Nautilus Inc. expanded its Schwinn product portfolio with digital bikes and treadmills that offer a connected fitness experience and a wide range of exercise options.
(https://www.businesswire.com/news/home/20191021005143/en/Nautilus-Inc.-Broadens-Schwinn-Indoor-Cardio-Line-with-All-New-Digitally-Enhanced-Cycling-Bike-and-Treadmill)

Market Drivers and Restrains:
Increasing health awareness has led to a surge in demand for home fitness equipment around the world. The rise in the prevalence of obesity and increased health awareness have largely driven the growth of the global home fitness equipment market. In addition, physical exercise is recommended during certain treatments. The market is largely driven by a fitness conscious population around the world. Growing consumer awareness of a healthy lifestyle has increased the demand for home fitness equipment. The demand for home fitness equipment has also increased as the obesity rate in developing countries has risen due to hectic lifestyles and increased consumption of junk food. The growing trend of product innovation in home workouts is driving the market for home fitness equipment. The increasing need from developing countries ensures the overall growth of the market.

Even in situations like shutdowns and quarantine due to the coronavirus outbreak, companies are pushing for online fitness activities, driving demand for home fitness equipment around the world. In countries like China and India, companies are raising awareness of the use of fitness products and home fitness equipment among people through television and other communication channels with various government agencies. However, the large-scale resale of used devices limits the growth of the industry.

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Report is segmented as:
The global home fitness equipment market is segmented based on the end-users, type, and region. By type, the market is segmented into strength training equipment, cardio equipment, and other equipment. The cardiovascular training equipment segment is subdivided into ellipticals, treadmills, rowing machines, and exercise bikes. According to the end user, the market has been divided into home consumers and business users. The domestic consumer segment is further subdivided into apartments, homes, and apartment gyms.

Geographical Segmentation:
North America leads the way in terms of market share, but Asia Pacific is expected to grow at the highest CAGR during the forecast period. Increasing disposable income and rapid economic growth in the Asia Pacific region has led to an unhealthy lifestyle due to sedentary lifestyles and increased spending on fast food. This has increased the incidence of lifestyle diseases such as diabetes, obesity, high blood pressure, heart disease, and other bone diseases. North America is expected to remain prominent in the global home fitness equipment market as awareness of a healthy lifestyle increases and consumer preferences for fitness activities rise in the region.

Impact of COVID 19 on Home Fitness Equipment Market
Like all other industries, the Covid-19 pandemic will also affect the global market for home fitness equipment. Reducing manufacturing and logistics problems will hamper market growth in the short term. However, innovative and self-controlled virtual group workouts are increasing the demand for home fitness equipment. With the COVID-19 outbreak, the number of training sessions at home is increasing as consumers follow the sessions online without going to the gym.

Key market players:
Key players in the Home Fitness Equipment market analysis include Brunswick Corporation, ICON Health & Fitness, Inc., Technogym SpA, Johnson Health Tech Co., Ltd., Nautilus, Inc., Amer Sports Corporation, Impulse (Qingdao) Health. Tech Co., Ltd., TRUE Fitness Technology, Inc., Core Health and Fitness, LLC and Torque Fitness, LLC.

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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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