At-home Fitness Equipment Market Expected to Reach $21.4 billion, by 2035 at 8.2% CAGR -- Allied Market Research

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May 23, 2024, 04:56 ET

The at-home fitness equipment in future will offer increasingly personalized experiences, catering to individual preferences, fitness levels, and goals. AI and machine learning algorithms will analyze user data to provide tailored workout recommendations, adjust resistance levels, and offer real-time feedback to optimize performance and results.

WILMINGTON, Del., May 23, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "At-home Fitness Equipment Market by Product Type (Cardiovascular Training Equipment, Free Weights, and Power Racks), Distribution Channel (Dealers, Online, Retail, and Gyms/Clubs), End User (Households, Apartment, and Gym in Apartment), and Price Point (Low, Mid, and Luxury): Global Opportunity Analysis and Industry Forecast, 2024–2035". According to the report, the global at-home fitness equipment market was valued at $8.6 billion in 2023, and is projected to reach $21.4 billion by 2035, registering a CAGR of 8.2% from 2024 to 2035.

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Prime determinants of growth

The increasing awareness of health and wellness is driving the growth of the at-home fitness equipment market. However, the growth of the at-home fitness equipment market is restricted by the high cost of equipment. On the other hand, market expansion and global reach present remunerative opportunities for the expansion of at-home fitness equipment during the forecast period.

Report coverage & details:

Report Coverage	Details
Forecast Period	2024–2035
Base Year	2023
Market Size in 2023	$8.6 billion
Market Size in 2035	$21.4 billion
CAGR	8.2 %
No. of Pages in Report	300
Segments Covered	Product Type, Distribution Channel, End User, and Price Point
Drivers	Convenience and Accessibility Customization and Personalization Health and Wellness Trends
Opportunities	Expansion of Target Demographics Product Innovation
Restraints	High Initial Cost Space Limitations

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The cardiovascular training equipment segment to maintain its leadership status throughout the forecast period.

By product type, the cardiovascular training equipment segment held the highest market share in 2023, accounting for nearly four-fifths of the at-home fitness equipment market share, and is estimated to maintain its leadership status throughout the forecast period. The market for cardiovascular training at-home fitness equipment has grown significantly, with an emphasis on small and adaptable devices like elliptical trainers, stationary bikes, and treadmills. Technological advancements like interactive displays and streaming capabilities have improved user experience and increased market attractiveness. The free weights segment showcases the fastest CAGR of 10.8% during the forecast period. Free weights are still essential for strength training enthusiasts in the market for at-home fitness equipment. With their adaptability and efficiency, free weights like barbells, kettlebells, and dumbbells are still a popular option for those who want to increase their overall fitness, gain muscle, and improve their endurance in the convenience of their own homes.

The dealers' segment to maintain its leadership status throughout the forecast period.

By distribution channel, the dealers segment held the highest market share in 2023, accounting for two-fifths of the at-home fitness equipment market revenue and is estimated to maintain its leadership status throughout the forecast period. Retailers and online marketplaces that specialize in fitness products are examples of dealers. They give a large selection of products, offer professional guidance, handle sales, and frequently provide post-purchase services and support to improve the customer's experience. The online segment, however, showcases the fastest CAGR of 10.8% during the forecast period. With its accessibility and ease, online channels have emerged as the primary means of delivering at-home fitness equipment to consumers. Significant market expansion is being driven by e-commerce platforms, company websites, and online marketplaces that offer a vast array of products, virtual demos, user evaluations, and doorstep delivery.

The gym in apartment segment to maintain its leadership status throughout the forecast period.

By end user, the gym in apartment segment held the highest market share in 2023, accounting for nearly two-fifths of the at-home fitness equipment market share, and is estimated to maintain its leadership status throughout the forecast period. Manufacturers meet the needs of urban residents by providing equipment that saves space. Examples of this equipment include foldable treadmills, adjustable dumbbells, and small, multipurpose exercise stations that fit inside apartments. The households segment showcases the fastest CAGR of 9.4% during the forecast period. Households are investing in a range of equipment, such as home gyms, connected fitness devices, and accessories, in order to achieve their fitness goals from the comfort of their own homes as the emphasis on health and wellbeing increases.

The mid segment to maintain its leadership status throughout the forecast period.

By price point, the mid segment held the highest market share in 2023, accounting for two-fifths of the at-home fitness equipment market revenue and is estimated to maintain its leadership status throughout the forecast period. This segment showcases the fastest CAGR of 8.9% during the forecast period. The mid-range at-home fitness equipment market segment appeals to consumers on a tight budget who are looking for affordable workout options by achieving a balance between quality and affordability. Products in this category often include basic strength training tools like dumbbells and resistance bands, as well as entry-level cardio equipment like treadmills and stationary bikes.

North America to maintain its dominance by 2035.

Based on region, North America held the highest market share in terms of revenue in 2023 and is likely to dominate the market during the forecast period. This region is expected to witness the fastest CAGR of 8.5% from 2024-2035. The market for at-home fitness equipment has grown rapidly in North America due to factors such as growing health consciousness, technology developments, and the comfort of working out at home. The demand for virtual training platforms, smart home gyms, and connected fitness equipment has surged, according to companies like Peloton, NordicTrack, and Bowflex.

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Leading Market 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
York Barbell

The report provides a detailed analysis of these key players in the at-home fitness equipment market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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