The U.S. home fitness equipment market size was valued at USD 4.43 billion in 2021. The market is projected to grow from USD 4.81 billion in 2022 to USD 7.80 billion by 2029, exhibiting a CAGR of 7.2% during the forecast period.
This information is published by Fortune Business Insights, in its report, titled, “U.S. Home Fitness Equipment Market, 2022-2029.”
As per the research conducted by our analysts, the obese population are greatly worried about their physical look and utilize exercising machines such as treadmill, elliptical, dumbbell, and others to handle taheir body weight. Consequently, the growing obesity occurrence and surging awareness concerning the health advantages of utilizing such equipment are primarily fueling the product demand in the U.S.
COVID-19 Impact:
Bolstering Significance of Body Workout amid COVID-19 Pandemic to Spur Market
Currently people remain indoors to elude coronavirus infection and follow social distancing guidelines. Furthermore, they make use of home fitness equipment to develop body stamina and preserve health. These dynamics have been observed to make a remarkable surge in the U.S. population’s demand for similar products. In addition, amid the pandemic, the rising consciousness concerning the prominence of embracing consistent workout schedules among the population of the U.S. and is therefore nurturing the product demand across the U.S.
Nonetheless, the unparalleled COVID-19 has mandated governments throughout the globe to accept governing terms and guidelines such as social distancing and lockdowns, leading to closures in public marketplaces and industries throughout the globe.
Fortune Business Insights™ lists out all the U.S. home fitness equipment market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Icon Health & Fitness, Inc. (U.S.)
- Core Health & Fitness, LLC (U.S.)
- Johnson Health Tech Co., Ltd. (U.S.)
- Hoist Fitness Systems (U.S.)
- Rogue Fitness (U.S.)
- Body Craft Inc. (U.S.)
- BodyEnergy Technology Co., Ltd. (U.S.)
- TRUE Fitness Technology Inc. (U.S.)
- Torque Fitness (U.S.)
- Life Fitness, Inc. (U.S.)
Report Coverage:
Our reports are directed utilizing an extensive examination technique that principally focuses on providing accurate information. Our experts have used a data triangulation technique that further aids us to offer reliable valuations and review the general market dynamics accurately. In addition, our analysts have attained admission to numerous international as well as locally sponsored records for presenting the upgraded insights in order for the entrepreneurs and shareholders to take crucial investment related decisions smartly.
Drivers and Restraints:
Repeated Facility of Pioneering Exercising Gears by Producers to Assist Market Progress
All the important exercise gear manufacturers provide performance tracing technology-grounded workout devices in the U.S. The efforts of these companies are anticipated to assist with the product demand throughout the U.S. Furthermore, the surging consumer expenditure on Internet of Things (IoT) technology-grounded household equipment is motivating corporations to present ground-breaking exercising products. This factor helps the U.S. exercise products industry growth.
The higher cost of digital exercise products is expected to limit its demand among the lower & middle-income U.S. population groups, thereby, restraining the U.S. home fitness equipment market growth. Furthermore, increasing incidences of workout-related injuries due to the improper usage of such products will decline the product demand for U.S. home fitness equipment.
Segmentation:
Cardio Benefits Make Cardiovascular Training Equipment Segment to Hold Major Market Share
Based on equipment type, the market is segregated into cardiovascular training equipment, strength training equipment, and others. Cardiovascular training equipment is highly beneficial in regulating blood pressure and heart rate levels. The cardiovascular training equipment segment holds a major U.S. home fitness equipment market share.
The sales channel is segregated into online and offline.
Competitive Landscape:
Pioneering Product Unveilings by Pivotal Players to Spur Market Growth
The chief players functioning in the market are often observed applying numerous tactics to boost their position in the market as dominating corporations. One such prime tactic is procuring firms to uplift the brand recognition among users. Additional vital notion is intermittently introducing groundbreaking products with a thorough review of the market and its target audience.
Industry Developments:
July 2021: FITBENCH, which is a maker of exercising bench products, presented ‘FITBENCH FREE’a multi-purpose exercising bench in the Wisconsin, U.S. This fitness bench is light in weight and saves up space, with two wheels for moving around and is a perfect product for gym workouts at one’s residence.
