The European home gym equipment market is anticipated to record a CAGR of 2.7% during the forecast period. Increasing preference for personalized exercise routines along with a convenient home-friendly environment is expected to drive the market in the region. In addition, the region presents various opportunities owing to the increase in consumer shifts toward home gyms. Hence, international and domestic manufacturers are anticipated to extend their reach in European countries. Moreover, key players are continually launching new gym equipment to maintain their competitiveness and attempting to distinguish their brand, quality, size, weight, and post-sales services. However, the market is expected to decline after 2021, as many gyms and health facilities will open up. Consumers are expected to shift toward gym training once again in the region.
Further, the advent of the COVID-19 pandemic triggered the demand for home gym equipment in Europe. Europe is one of the worst-hit regions with more than 10 million cases till November end (2020). Nearly all of the fitness centers and gyms had to be shut off in the initial months of the pandemic, which stimulated the demand for home gym equipment as consumer’s preferences changed. This scenario is expected to continue for the next few months, as the COVID-19 situation is still surrounded by uncertainties.
The European home gym equipment market is segmented based on product type, and distribution channel. Based on product type, the home gym equipment market is fragmented into cardio equipment, which is further sub-segmented into ellipticals, treadmills, exercise bikes, and others; and strength training equipment, which is further sub-segmented into free weights, barbells & ladders, extensions, and others. Based on the distribution channel, the market is classified into online and offline.
Country-wise, the market is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. The UK is expected to dominate the market in Europe, accounting for more than one-fifth of the market size till 2022. The prevalence of obesity and growth in health consciousness has also encouraged the adoption of home gym equipment. The home gym equipment market in the country bears a competitive marketplace with established manufacturers. Partnerships with e-commerce market vendors and customer-driven innovation will aid market growth during the forecast period. Moreover, the rise in costs of gym memberships and busy schedules are expected to increase penetration rates in the country. Convenience and lower long-term costs of equipment will also drive market growth.
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European Home Gym Equipment Market Segmentation
By Product Type
- Cardio Equipment
- Ellipticals
- Treadmills
- Exercise Bikes
- Others
- Strength Training Equipment
- Free Weights
- Barbells & Ladders
- Extension
- Others
By Distribution Channel
- Online
- Offline
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Regional Analysis
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
Company Profiles
- Adidas AG
- Overview
- Product Portfolio
- Recent Activities
- Amer Sports Corp.
- Anytime Leisure, Ltd.
- Core Health & Fitness, LLC.
- Decathlon S.A.
- Dyaco International
- Implus LLC
- Nautilus, Inc.
- Origin Fitness, Ltd.
- SportsArt, Inc.
- TECHNOGYM S.p.A.
- Tunturi New FitnessB.V.
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