Home Fitness Equipment Market to Reach US$6 Billion by 2030

NEW YORK, NEW YORK, USA, April 25, 2022 /EINPresswire.com/ — Rising consumer awareness for a healthy and fit lifestyle has increased the demand for home fitness equipment. The market is mainly driven by the fitness conscious population across the globe. The rising trend of home workout product innovation is driving the home fitness equipment market. Rising obesity rates in developing countries due to hectic lifestyles and increased consumption of junk foods has also propelled the demand for home fitness equipment. Initiatives such as corporate wellness programs are also contributing to the growth of the home fitness equipment market. However, the large-scale resale of used devices limits the growth of the industry. Increase in demand from developing countries would ensure the overall growth of the market. Even in situations such as lockdowns and quarantines due to the coronavirus outbreak, companies are promoting fitness activities online, which is increasing the demand for home fitness equipment worldwide. Based on these factors, the global home fitness equipment market is expected to be valued at US$6 billion by the end of 2030 and grow at a CAGR of 5% during the forecast period (2020 to 2030).

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Key points of the Home Fitness Equipment market report

North America is expected to remain dominant in the global home fitness equipment market with growing awareness of healthy lifestyle and strong consumer preference for fitness activities in the region. According to the Sports & Fitness Industry Association (SFIA), the sales of fitness products in the United States are increasing significantly, among which home fitness equipment occupies a large share of the market.
Innovative, self-monitoring workouts and virtual group workouts are driving demand for home fitness equipment. Due to the COVID-19 outbreak, there is an increase in home workouts as consumers are taking workouts online instead of going to the gym.
Additionally, companies significantly offer a wide variety of home fitness equipment. The trend is expected to continue throughout the forecast period.

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Increased e-commerce penetration resulting in increased customer engagement

The increasing penetration of e-commerce for the sale of various products, worldwide, has boosted the growth of B2C businesses in the consumer goods sector. Over the past few years, consumer behavior has changed dramatically, and they are researching and buying more products online, including home fitness equipment, through various online platforms. These factors are expected to fuel the revenue growth of the home fitness equipment market. In order to capitalize on tech-savvy young adults, market players are engaging with them through various social media and other digital platforms to market and sell their products, while increasing their market share through online sales channels.

The report by PMR highlights ground-breaking insights into the competitive scenario of the Home Fitness Equipment Market along with the differential strategies utilized by the manufacturers. Some of the major players in the global home fitness equipment market include ICON Health & Fitness, Inc., Nautilus, Inc., Brunswick Corporation, TRUE Fitness Technology, Inc., Core Health and Fitness, LLC, Precor Incorporated, Johnson Health Tech Co. ., Ltd., Amer Sports Corporation, Cybex International, Technogym SpA, Torque Fitness, LLC, Vectra Fitness, NordicTrack, Woodway USA, Inc., Fitness World, HOIST Fitness Systems and others.

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