The global home gym equipment market is estimated to record a CAGR of 3.2% during the forecast period (2020-2026). Globally, around 25% of gym memberships are predicted to get canceled by gym-goers due to COVID-19. Around 35-40% of new consumers are first-time buyers and have started exercising at home due to health concerns induced by the COVID-19 scare, which has stimulated the growth of the home gym equipment market. Until 2019, the home gym equipment market had been growing steadily, but the pandemic further encouraged people to work out from home and increased the demand for home gym equipment. The competition is expected to grow in the short term for both online and offline channels. Online marketing through social media, catalogs, celebrity endorsements, and others are anticipated to drive the sales of home gym equipment during the forecast period.
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However, governments have started to relax their lockout measures for COVID-19, leading to the eventual reopening of health clubs, gyms, and fitness centers, which is expected to create a challenge for the home gym equipment market. Many countries have initiated a gradual opening of health clubs and gyms in their states, and the shift to gyms owing to their better equipment and time management will bring challenges to the market.
Market Coverage
- The market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- by Product Type and Distribution Channel
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- Adidas, AG, Cybex International, Inc.; Dyaco; ICON Health & Fitness; Nautilus, Inc.; TECHNOGYM S.p. A.
Global Home Gym Equipment Market Report Segment
By Product Type
- Cardio Equipment
o Ellipticals
o Treadmills
o Exercise Bikes
o Others
- Strength Training Equipment
o Free Weights
o Barbells & Ladders
o Extension
o Others
By Distribution Channel
- Online
- Offline
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
