The Home Fitness Equipment Global Market Report 2023 by The Business Research Company, provides home fitness equipment market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Home Fitness Equipment Global Market Report 2023, the market size is expected to grow from $15.13 billion in 2022 to $16.55 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global home fitness equipment is expected to grow to $24.28 billion in 2027 at a CAGR of 10.1%.
Precautionary healthcare coupled with an increasing preference for customized workout regimes has contributed to the growth of the home fitness equipment market. Today people are inclined towards maintaining an active lifestyle with regular exercise which can maintain a healthy weight and decrease the risk of chronic diseases.
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The home fitness equipment market is segmented:
1) By Product: Treadmills, Elliptical Machines, Rowing Machines, Strength Training Equipment, Other Products
2) By Applications: Home, Small Gyms, Offices, Other Applications
3) By Distribution Channel: Offline Retail Stores, Online Retail Stores, Direct Selling
Virtual reality fitness equipment, accessories and apps are the emerging trends in the home fitness equipment market to get physical workouts, which can inspire and motivate to keep up fitness goals with fun games and real-life training scenarios. They not only inspire and motivate into working out and firming up the body but also saves thousands of dollars on cross trainers, treadmills and stationary bikes. For instance, the VR Fitness Company is creating the world’s first reality gym experience by providing virtual reality fitness machines that are built to give a safe and fun aerobic session for all fitness levels and making exercise a lot more fun and exciting. Virtual reality accessories are also available in the market which is connected to fitness equipment over Bluetooth and are compatible with the fitness equipment.
The home fitness equipment market report table of contents includes:
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