Global Market Study on Home Fitness Equipment: Rising Popularity of Resistance Bands for Home Workouts Aiding Market Growth


Home Fitness Equipment  Market
  • Published On : Apr-2020 |
  • Pages : 250 Pages |
  • Format : Home Fitness Equipment  Market Home Fitness Equipment  Market Home Fitness Equipment  Market Home Fitness Equipment  Market

Resistance bands are rubber bands that are used for the purpose of strength training, and come in four types - light, medium, heavy, and extra heavy. Consumers prefer the heavy level of resistance bands, as the continuous use of these helps in muscle toning and improves body strength. These bands are also cost-effective and easy to carry while travelling also. There are many resistance band exercises that can be done in a small space. Resistance band kits come with suggested exercises for every major muscle group. Therefore, resistance bands are becoming increasingly popular for in-house workouts to stay fit and healthy. In addition, manufacturers in the home fitness equipment market are coming up with new innovative types of resistance bands specially designed to train specific body parts such as the legs, chest, etc.

The increasing popularity of tube or tubular shaped resistance bands that come with handles and can mimic various fitness machines is expected to boost the growth of the home fitness equipment market, which is anticipated to register a CAGR of 5% during the forecast period.

Like every other industry, the Coviud-19 pandemic will affect the global home fitness equipment market too. On one side, reduced manufacturing and logistical issues will peg back market growth in the near term. On the flip side, due to lockdowns across the world, home working out has taken off, which bodes well for the growth of the home fitness market.

Rise in Company & Government Initiatives Regarding Fitness to Accelerate Market Growth

Prominent companies in the home fitness equipment market such Fitnessathome, The Life fitness Company, and others are collaborating with various clubs and societies across the globe to spreading awareness about health practices and the benefits associated with fitness. In countries such as China and India, companies, along with various government organizations, are actively increasing awareness regarding fitness products and the use of home fitness equipment among people through means of television and other communication channels. All these initiatives are expected to provide growth opportunities in the home fitness equipment market.

Increasing Health Consciousness & Obese Population – Major Market Driver

Growing awareness among consumers toward a healthy and fit lifestyle has increased the demand for home fitness equipment. The market is majorly driven by the fitness-conscious population across the globe, and product innovation and home-based workouts are driving the home fitness equipment market. On the other side, rising obesity rates in the urban population due to hectic lifestyles and the consumption of junk food have propelled the demand for home fitness equipment to prevent diseases.

Home Fitness Equipment Market: Competition and Regional Overview

The global home fitness equipment market is anticipated to be highly consolidated, where a large number of prominent players are covering the global market. There are many players in the market who are significantly increasing their market footprint to meet the growing demand for in-house fitness products, as hectic schedules have led to the increased adoption of home fitness equipment. They are also investing in research & development activities, along with focusing on product development, frequent product launches, increasing product availability at retail stores, and mergers & acquisitions.

  • In 2019, Life Fitness introduced an innovative digital advertising platform, ‘Life Fitness Media’. This will leverage the company’s large installed base of cardio equipment to deliver unique forms of content to fitness enthusiasts that work out on company fitness equipment every day.
  • In 2019, Nautilus Inc. expanded its Schwinn product portfolio with a digital cycling bike and treadmill, featuring a connected fitness experience and various workout choices.
  • Authorities such as the World Health Organization (WHO) and United Nations (UN) are significantly taking initiatives to increase health awareness among people, and are upgrading their health security guidelines for their member countries, which is projected to encourage physical activities to prevent and reduce chronic diseases.

Global sales of the home fitness equipment market reached US$ 3.9 Bn in 2019. According to PMR’s report, the home fitness equipment market is estimated to register a CAGR of 5% during the forecast period of 2020-2030. North America will hold the largest market share in the global home fitness equipment market in 2020, followed by Europe, owing to rise in per capita spending on junk food, leading to unhealthy and sedentary lifestyles. This has increased the prevalence of chronic diseases such as diabetes, heart diseases, obesity, hypertension, and other bone diseases. Moreover, consumers in developed regions are considerably shifting their focus toward more in-house fitness equipment. East Asia is expected to expand at the highest CAGR during the forecast period, owing to rise in government initiatives to promote the usage of home fitness products in order to avoid health problems.

Analysts’ Viewpoint

A brief overview of the changing landscape of the home fitness equipment market has led our analysts to conclude that, the market is significantly gaining popularity. The demand for more in-house fitness products is increasing from developed regions such as North America and Europe. Also, rise in obesity and health issues have made consumers more aware about fitness and has increased the demand for home fitness equipment. The fitness industry is facing a slight increase in demand of home fitness equipment after the outbreak of COVID-19 and social distancing measures taken by governments. However, due to lockdowns, there is less product availability in the market, which will hamper the growth of the home fitness equipment market to some extent in the near term.

Home Fitness Equipment Market - Scope of the Report

Persistence Market Research (PMR) recently published a new report on the home fitness equipment market for the assessment period of 2020-2030. The report offers a close look at the evolving aspects of the home fitness equipment market, and insights into the dynamics impacting market growth. It also focuses on key developments in the home fitness equipment market space. The report includes various macro- and micro-economic factors responsible for significant impact on the home fitness equipment market.

The report on the home fitness equipment market extensively focuses on the key trends shaping its growth. Additionally, the included opportunity analysis on the home fitness equipment market underlines untapped corners for aspiring players. The report on the home fitness equipment market also offers a holistic view of the incremental opportunity, which can further help readers make effective decisions for the growth of their businesses.

All the stakeholders in the home fitness equipment market can rely on the data offered in this report to make critical decisions. Moreover, the information offered in this report also can help new market entrants expand their bases in the home fitness equipment landscape.

The report elaborates on both, the historical and current trends shaping the market. The performance journey of the home fitness equipment market been drawn and analyzed to make lucrative opportunities in the market evident to readers. The competitive landscape presented in the home fitness equipment market report gives a detailed outlook of the profiles of key companies operating in the market, along with their differential strategies and key focus areas.

Home Fitness Equipment Market: Segmentation

PMR’s research study on the global home fitness equipment market offers a detailed market taxonomy, wherein, key segments have been discussed in detail. The home fitness equipment market is segmented on the basis of product, application, end user, sales channel, and region. Every segment is analyzed in detail, and data pertaining to the growth of each segment has been included in the study.

Product

  • Punching Bags
  • Treadmills
  • Manual Treadmills
  • Automatic Treadmills
  • Dumbbells
  • Adjustable Dumbbells
  • Fixed Dumbbells
  • Cycles
  • Stationary Cycles
  • Air Bikes
  • Elliptical Machines
  • Weightlifting Benches
  • Resistance Bands
  • Others

Application

  • Cardiovascular Training
  • Strength Training
  • Others

End User

  • Male
  • Female

Sales Channel

  • Direct
  • Indirect
    • Hypermarkets/
    • Supermarkets
    • Specialty Stores/ Sports Chain Outlets
    • Multi-brand Stores
    • Discount Stores
    • Independent Departmental Stores
    • Sports Stores
    • Online Retailers

Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa (MEA)

The home fitness equipment market research report includes a competitive landscape that provides a dashboard view of the key competitors operating in the market. Some of the market players included in this section are Fitnessathome, Vectr Fitness, Technogym, Cybex, True Fitness, NordicTrack, Johnson Health Tech, Fitness World, Nautilus, ICON, Star Trac, Precor, HOIST Fitness System, Woodway, ProForm, and others.

Home Fitness Equipment Market: Key Questions Answered in the Report

The research study on the home fitness equipment market offers inclusive insights about the growth of the market in the most comprehensive manner. Key insights offered in the home fitness equipment market report answer some of the most salient questions that assist stakeholders in gauging all the emerging possibilities.

  • How is the outbreak of the coronavirus pandemic impacting the growth of the home fitness equipment market?
  • What are the key trends that are constantly shaping the growth of the home fitness equipment market?
  • Which are the prominent regions that offer plentiful opportunities for players in the home fitness equipment market?
  • What are the differential strategies adopted by key players to hold a significant share in the global home fitness equipment market?

Home Fitness Equipment: Research Methodology

A unique and promising research methodology forms the base of the home fitness equipment market for during the forecast period. This report has been prepared after comprehensive analysis of market events, and riveting insights have been compiled meticulously. The research methodology for the home fitness equipment market is a two-step process, comprising primary and secondary research. Key stakeholders such as suppliers, service providers, and experts of several designations, including executive vice presidents, directors, technical advisors, GM marketing professionals, and sales professionals, have been interviewed. Secondary sources referred to obtain information include investor presentations of manufacturers, World Bank, IMF, and other credible sources.

Companies covered in Home Fitness Equipment Market Report

  • Fitnessathome
  • 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 S.p.A.
  • Torque Fitness, LLC
  • Vectra Fitness
  • NordicTrack
  • Woodway USA, Inc.
  • Fitness World
  • HOIST Fitness Systems
  • Other Players (As Per Request) 

Home Fitness Equipment Market

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