The home fitness equipment market is expected to reach $11,459 million by 2027

Home fitness equipment market

(AI) and machine learning technology in home fitness equipment is driving the global home fitness equipment market

POTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATES, July 26, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled “Home Fitness Equipment Market by Product Type, Distribution Channel, End User, and Price Point: Global Opportunity Analysis and Industry Forecast, 2021–2027”, the home fitness equipment market size is expected to reach $11,459 million by 2027 with a CAGR of 7.8% from 2021 to 2027.

Fitness equipment is widely used for physical fitness, weight control, and improving body endurance and muscle strength. Commonly used home exercise equipment includes treadmills, stationary bikes, stair climbers, rowing machines, elliptical cross trainers, and free weights. Increasing health and fitness awareness, rising obese population, government initiatives to promote healthy lifestyle, and rising young population are the major factors driving the growth of the global fitness equipment market. home fitness. In addition, the increase in the young population, the improvement in lifestyle and the increase in disposable income of people in developing countries are expected to offer immense opportunities for market players.

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An alarming rise in global obesity, especially in urban areas, complements the growth of the home fitness equipment market. According to the WHO, in 2016, around 1.9 billion adults were overweight and of these, around 650 million were obese. Obesity is associated with a number of health problems or disorders, such as sudden cardiac arrest, hypertension, hypotension, and diabetes. Therefore, in order to lose weight, reduce stress and improve blood circulation, obese people tend to use more fitness equipment, which increases the sales of these products.

Additionally, the growing adoption of artificial intelligence (AI) and machine learning technology in home fitness equipment is driving the global home fitness equipment market. AI-based personal trainer is expected to be the next trend in the home fitness equipment market. Tech giants like Google and Apple are committed to developing their smart wearable devices that can virtually guide and help their users based on the collection of health data. This will drive the home fitness equipment market in the future.

The global home fitness equipment market is segmented on the basis of product type, distribution channel, end user, price, and region. Based on product type, the home fitness equipment market is categorized into cardio training equipment, free weights, and power racks. The cardio equipment segment is sub-segmented into treadmills, stationary bikes, rowing machines, elliptical trainers, and others. By distribution channel, the global home fitness equipment market is divided into distributors, online, retail, and gyms/clubs.

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The online segment is further segregated into direct distribution and third party retailers. The retail segment is further fragmented into mass retail and specialty retail. By end user, the home fitness equipment market is divided into homes, apartments, and apartment gyms. By price, the market is segmented into low, medium and luxury.

Companies can operate their business in a highly competitive market by launching new products or updating versions of existing products. Partnership/collaboration agreement with key stakeholders is expected to be a key strategy to stay in the market. In the recent past, many leading players opted for product launches or partnership strategies to strengthen their presence in the market. To understand the key market trends, the strategies of the major players are analyzed in the report. Some of the key players in the fitness equipment market analysis include Tonal Systems, Inc., ICON Health & Fitness, Inc., PENT, Technogym, Louis Vuitton, PELOTON, NOHrD, Nordic Track, ProForm, Precor, Inc., Schwinn, JTX Fitness, Keizer Corporation, Corepump, and York Barbell.

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Key results

North America dominates in terms of home fitness equipment market share and is expected to maintain its dominance during the forecast period.
In 2019, based on product type, the cardio training equipment segment leads in terms of market share and is expected to gain market share in the coming years.

The free weights segment is poised to grow at the highest CAGR during the forecast period.
The household segment is expected to gain market share in the coming years and is estimated to grow at a CAGR of 9.6% during the forecast period.
Depending on the region, Europe is anticipated to grow at a strong CAGR of 7.6% over the forecast period.

Reasons to buy this Home Fitness Equipment Market Report:

> Mergers and acquisitions must be well planned by identifying the best manufacturer.

> Classify new clients or potential partners in the demographic group you are looking for.

> Suitable for providing reliable, high-quality data and analysis to help your internal and external presentations.

> Develop tactical initiatives by gaining a better understanding of the areas in which large corporations can intervene.

> Increase and grow business potential and reach, develop and plan licensing and licensing strategies by finding potential partners with the most attractive projects.

> Recognize newcomers with potentially strong product portfolios and devise effective counterstrategies to gain competitive advantage.

> Develop effective R&D strategies, gather information, analysis and strategic insights from the competition

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