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The shutdown of fitness centers and gyms has further boosted the demand for at-home fitness equipment
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATE, October 6, 2022 /EINPresswire.com/ -- Rise in the young population in developing regions, growth in government initiatives to promote healthy lifestyle, surge in prevalence of obesity, and multifunctional at-home equipment drive the growth of the global at-home fitness equipment market. The market across North America dominated in 2019, and is expected to lead the trail by 2027. Prominent Players: Tonal Systems, Inc., ICON Health & Fitness, Inc., PENT, Technogym, Louis Vuitton, PELOTON, NOHrD, Nordic Track, ProForm, Precor, Inc., Schwinn, JTX Fitness, Keiser Corporation, Corepump, and York Barbell.
As per the report published by Allied Market Research, the global at-home fitness equipment market was pegged at $5.54 billion in 2019, and is projected to reach $11.45 billion by 2027, growing at a CAGR of 7.8% from 2021 to 2027.
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The global at-home fitness equipment market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2019, accounting for more than three-fifths of the market. The same region is expected to portray the highest CAGR of 8.1% during the study period.
The global at-home fitness equipment market report includes an in-depth analysis of the major market players such as Nordic Track, ProForm, Precor, Inc., Tonal Systems, Inc., ICON Health & Fitness, Inc., PENT, Technogym, Louis Vuitton, PELOTON, NOHrD, Schwinn, JTX Fitness, Keiser Corporation, Corepump, and York Barbell.
"Cardiovascular fitness equipment with smarter workout tracking, and entertainment features are expected to attract more customers in developing countries such as India and China, due to price sensitivity. However, the developed markets are anticipated to be driven by high-end equipment with advanced and sophisticated user engagement and monitoring feature "
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An alarming rise in global obesity, especially in urban areas, supplements the growth of the at-home fitness equipment market. According to WHO, in 2016, around 1.9 billion adults were overweight and of these around 650 million were obese. Obesity is associated to a number of health issues or disorders such as sudden cardiac arrest, hypertension, hypotension, and diabetes. Therefore, to lose weight, reduce stress, and improve blood circulation, obese people tend to use more of fitness equipment, thereby increasing the sales for these products.
Further, the growing adoption of artificial intelligence (AI) and machine learning technology in the at-home fitness equipment is driving the global at-home fitness equipment market. It is expected that the AI based personal trainer is the upcoming trend in the at-home fitness equipment market. Tech giants such as Google and Apple are engaged in developing their smart wearable devices that can virtually guide and assist its users based on health data collection. This will boost the at-home fitness equipment market in future.
North America dominates in terms of at-home fitness equipment market share and is expected to retain its dominance during the forecast period. In 2019, based on product type, the cardiovascular training equipment segment leads in terms of market share, and is expected to gain market share in the upcoming years The free weights segment is poised to grow at highest CAGR during the forecast period. Households segment is expected to gain market share in the upcoming years and is estimated to grow at a CAGR of 9.6% during the forecast period. Based on region, Europe is anticipated to grow with robust CAGR of 7.6% during the forecast period.
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David Correa Allied Analytics LLP 800-792-5285 email us here Visit us on social media: Facebook Twitter LinkedIn
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