North American home gym equipment market is growing at a CAGR of 2.8% attributed to the rising health awareness among consumers and the trend in workouts related to physical well-being, weight control, and muscle strength. The rising percentage of the obese population and other growing health issues are also driving the country’s home gym equipment market. Apart from the above, the major factor currently driving the market is the COVID-19 outbreak and its lockdown implications in the fitness industry. Because of this, online sales surpassed offline sales.
In Q1 2020, the market witnessed a supply chain disruption, due to which new production was impacted. However, with industries reopening in various countries in Q2 and Q3 2020, production facilities will break even and lower the ratio of demand and supply in the region. In addition, manufacturers operating in the global market are expanding their presence to achieve a competitive advantage due to the growing demand. Vendors have also revisited their localized sales strategies and leveraged localized marketing mediums to increase profit margins, which saw a decline due to lower B2B sales.
Further, in developed regions such as North America, e-commerce retail sales of yoga mats and exercise bikes reached impressive targets. Cardio equipment such as treadmills and ellipticals will capture huge demand during the forecast period owing to heightened consciousness when it comes to fitness among customers and rapid online ordering of equipment suitable for home settings. Moreover, e-commerce industry stakeholders employ a broad range of marketing tactics to maximize customer penetration of their products. These include endorsements by celebrities, event management, and social media marketing.
The North American 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. Treadmills, elliptical, exercise bikes, and weightlifting and power training machines have been the most extensively used gym equipment in North America. correspondingly, cardiovascular fitness equipment led the market share in 2019 and is projected to maintain its dominance over the forecast period. This is because treadmills are widely accepted for home exercise and are considered one of the most convenient and essential home gym equipment.
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North American 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
- United States
- Canada
Company Profiles
- Adidas AG
- Core Health & Fitness, LLC.
- Decathlon S.A.
- Dyaco Internationa;
- Echelon Fitness Multimedia LLC
- Health in Motion, LLC
- HOIST Fitness Systems
- ICON Health & Fitness
- Implus LLC
- Johnson Health Tech. Co., Ltd.
- Nautilus, Inc.
- Origin Fitness, Ltd.
- TECHNOGYM USA Corp.
- Torque Fitness USA
- TRUEFitness
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