New York, March 29, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Release of “Home Fitness Equipment Market – Growth, Trends, Impact Of COVID-19, And Forecast (2021-2026)” report – https: // www. reportlinker.com/p06039516/?utm_source=GNW
Home fitness has become a notable opportunity with the boom in home fitness equipment sales online.
– In addition to having a serious impact on people’s health and healthcare, the COVID-19 pandemic is having a significant impact on businesses and the economy. Thus, it also has an impact on the global market for home fitness equipment. With the quarantines and social distancing norms continuing, the gyms will remain closed, which is likely to greatly boost the home exercise culture and, therefore, demand for fitness equipment in homes.
– In addition, many gyms and fitness studios around the world are closed due to the COVID-19 pandemic. Fitness enthusiasts, however, don’t let their fitness goals fall by the wayside because they are stuck at home. In fact, this is an opportunity for device manufacturers to enter the market as more and more people are motivated to develop a home fitness routine that can go beyond social distancing mandates.
– Preventive care in healthcare, combined with an increasing preference for an individual exercise program (including when to exercise) and a comfortable, home environment, increases the demand for home fitness equipment as customers want to exercise on a daily basis.
The recent growth in home fitness equipment is also the result of the inconvenience of commuting to a gym to use the equipment, instructor fees, and membership fees primarily in developing countries.
– The space limitation primarily for mass fitness equipment such as massage chairs, exercise bikes, treadmills and cross is a major factor limiting the growth of the home fitness equipment market. This stimulated start-up gyms, fitness centers, and health clubs around the world.
Important market trends
Consumer interest in bespoke home exercise programs
The busy schedule and long working hours, overcrowded fitness centers and problems with parking vehicles have resulted in an increasing number of consumers becoming actively involved in home exercise. The home fitness equipment eliminates the inconvenience of commuting to a gym to use the equipment and is extremely inexpensive in the long run. The low recurring costs of transportation, exercise equipment, trainer fees, and membership fees are a major contributing factor to consumer addiction to home fitness equipment.
In addition, the increasing number of manufacturers are investing in the introduction of apps that provide customers with a platform on which they can choose their personal trainers for online courses or home visits to meet their specific and individual fitness needs such as bodybuilding. For example, MIRROR, the company that developed the first near-invisible, interactive home gym, announced the start of a one-on-one workout in 2019. For the first time ever, members can bring the best coaches in the country into their homes using MIRROR’s immersive technology.
North America leads the global home fitness equipment market
The North American market has seen significant growth due to increasing consumer health awareness with the increased adoption of exercises related to physical wellbeing, weight management, improving physical endurance and muscle strength that are driving market growth in the country. The rising percentage of the overweight population and increasing health concerns are other important factors driving the home fitness equipment market in the country. For example, in 2016, about 39.6% of American adults were obese, according to the National Health and Nutrition Examination Survey.
In addition, rising preventive health measures and rising healthcare costs enable consumers to exercise regularly to stay fit. With the growing demand, the manufacturers active in the world market are expanding their presence in order to gain a competitive advantage in the market. For example, in 2019 Wattbike launched Wattbike Atom in the US with real ride feel technology. The Atom offers authentic, intelligent and adaptable indoor performance training for the home, ideal for every cyclist and fitness enthusiast.
The global home fitness equipment market is highly competitive with various local and global players operating in the market including Anta International Limited (Amer Sports Oyj), Nautilus Inc., and Johnson Health Tech. Co. Ltd and Origin Fitness Ltd (Anytime Leisure Limited). Due to the development of several marketing strategies, which are largely based on product innovations, expansion in different regions and partnerships with various companies to expand the product portfolio, significant growth is expected for the market in the forecast period.
Additionally, the launch of a large fitness company brings the legitimacy of emerging businesses to the market. For example, Johnson Health Tech acquired specialty fitness retailer Leisure Fitness, Newark, Delaware, to expand its product portfolio. The deal expanded Johnson Health Tech’s retail presence to 315 stores worldwide. In 2016, 27 Leisure Fitness branches were added.
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