At-Home Fitness Equipment Market Expected to Reach $21.4 Billion by 2035

According to a new report published by Allied Market Research, titled, “At-Home Fitness Equipment Market," The at-home fitness equipment market size was valued at $8.6 billion in 2023, and is estimated to reach $21.4 billion by 2035, growing at a CAGR of 8.2% from 2024 to 2035.

Fitness equipment is widely used for physical fitness, weight management, and to improve body stamina & muscular strength. The commonly used at-home fitness equipment are treadmills, stationary cycles, stair climbers, rowing machines, ellipticals, and free weights. Rise in awareness regarding health & fitness, increase in the obese population, government initiatives to promote healthy lifestyles, and surge in the youth population are the major factors that drive the global at-home fitness equipment market growth. Moreover, the desire to maintain mental health & well-being and the rise in disposable income of individuals in developing countries are anticipated to offer remunerative at-home fitness equipment market opportunities for during the forecast period. This is creating at-home fitness equipment market demand globally. 

Furthermore, the integration of artificial intelligence (AI) and machine learning technology in at-home fitness equipment contributes toward the growth of the global market. It is expected that the AI-based personal trainer is the upcoming trend in the market. Tech giants such as Google and Apple are engaged in developing smart wearable devices that can virtually guide and assist users based on health data collection. Thus, all these factors collectively are expected to boost the in the future.

According to at-home fitness equipment market analysis, the global at-home fitness equipment market is segmented into product type, distribution channel, end user, price point, and region. Depending on product type, the market is categorized into cardiovascular training equipment, free weights, and power racks. The cardiovascular training equipment segment is sub-segmented into treadmills, stationary cycles, rowing machines, elliptical & others. By distribution channel, the market is segregated into dealers, online, retail, and gyms/clubs. The online segment is further bifurcated into direct distribution and third-party retailers. The retail segment is subdivided into mass retailer and specialty retailer. On the basis of end user, the market is differentiated into households, apartment, and gym in apartment. As per price point, it is fragmented into low, mid, and luxury.

Depending on product type, cardiovascular training equipment is the leading segment with $7,374.7 million in 2023, and is poised to grow with the highest CAGR of 7.8% during the forecast period, due to an increase in consumer awareness regarding cardiovascular health. In 2023, the stationary cycles segment accounted for around 41.4% of the total at-home fitness equipment market share in the global at-home fitness equipment market.

On the basis of the distribution channel, the dealers segment garnered the highest market share in 2019, as it is the most preferred distribution channel that offers products at reasonable prices. However, the online segment is expected to exhibit the fastest growth during the forecast period, due to an upsurge in internet penetration and improvement in the infrastructure of e-commerce channels.

By end user, the gym in the apartment segment dominated the market in 2023, due to the increase in the trend of adding gyms as basic amenities while constructing apartments in majority of the countries. However, the households segment is expected to grow at a significant pace during the forecast period.

As per price point, the mid-price point segment led the market in 2023, and is expected to retain its dominance during the forecast period. This is attributed to the fact most people opt for high-quality equipment at a price that fits their budget.

Region wise, the at-home fitness equipment market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America leads in terms of market share, however, Europe is anticipated to grow with the highest CAGR during the forecast period. Upsurge in disposable income, increase in health consciousness, and rise in a number of obese population in Europe are expected to augment the adoption of exercising and good food habits. Moreover, an alarming surge has been witnessed in the incidence of lifestyle diseases such as obesity, diabetes, heart disease, hypertension, and other bone diseases. The rise in awareness among people about the long-term consequences of such diseases has encouraged people to stay fit by working out regularly at home. Furthermore, rapid urbanization in developing economies of Asia-Pacific, an increase in the youth population, and a rise in per capita disposable income are expected to propel the adoption of at-home fitness equipment in the region.

Companies can operate their businesses in a highly competitive market by launching new products or updated versions of existing products. Partnership/collaboration agreement with key stakeholders is expected to be a key strategy to sustain in the market. In the recent past, many leading players opted for product launch or partnership strategies to strengthen their foothold in the market. To understand the key at-home fitness equipment market trends, the strategies of leading players are analyzed in the report. The key players operating in the at-home fitness equipment industry include Tonal Systems, Inc., ICON Health & Fitness, Inc., PENT, Technogym, Louis Vuitton, PELOTON, NOHrD, Nordic Track, ProForm, Precor, Inc., Schwinn, JTX Fitness, Keiser Corporation, Corepump, and York Barbell.

KEY FINDINGS OF STUDY

• On the basis of product type, the free weights segment is the fastest-growing segment with a 10.8% CAGR.
• On the basis of distribution channel, the dealers segment was the largest in the market in 2023.
• On the basis of end user, the households segment is the fastest-growing segment with a 9.4% CAGR.
• On the basis of price point, the mid segment was the largest in the market in 2023.
• Region-wise, North America was the highest revenue contributor to the market in 2023.