Home Fitness Equipment Market Size,Regional Status and Outlook (2024-2031)
The demand for home fitness equipment has risen globally. Any machine or device used for physical activity to lose weight, increase physical stamina, or enhance muscular strength is considered fitness equipment. Due to increased health consciousness, Treadmills, stationary bikes, free weights, and elliptical machines are among the most popular at-home fitness machines. The global home fitness equipment market has benefited greatly from obesity prevalence and health consciousness. Furthermore, the adoption of home workout equipment has been spurred by an increase in the urban population, rising disposable income, expanding health consciousness, developing bodybuilding trends, and increased government measures to promote healthy living are expected to drive the market growth.
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Market Dynamics
As the number of people suffering from obesity rises, the demand for the product is expected to increase as it is a vital tool for them to lose weight. Adult obesity rates in the United States currently exceed 35 percent in 12 states, 25 percent in 48 states, and 30 percent in 35 states, according to data provided by the State of Child Obesity.Org in September 2020. Furthermore, increased knowledge of the lack of physical exercise has resulted in many health difficulties such as heart disease, diabetes, cancer, and others, which has increased demand for these products. Furthermore, increasing inclination towards digital technology to aid market growth. The increasing popularity of fitness applications in smart devices for enhancing and maintaining personal fitness has played a significant role in the market growth.
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Segment Analysis
The cardiovascular training equipment segment is projected to be the larger market shareholder owing to its capability to help toughen the heart and muscle while also improving people's health with heart disease, diabetes and high blood pressure. People are becoming more health-conscious and focused on treating heart diseases as the number of patients with cardiovascular disorders rises, which has fueled the growth of cardiovascular training equipment. Weight training equipment is expected to expand as people become more conscious of the need for muscle and body weight gain. It helps to build stamina and raw energy while also strengthening joints. Dumbbells, bars, and weight plates have seen a boom in popularity, and this trend is projected to continue.
Competitive Landscape
The home fitness equipment market is fragmented. The competitive home fitness equipment market comprises numerous regional and international competitors. Players also extensively focus on providing consumers with innovative offerings in their products. Furthermore, while engaging the consumers with innovation and expansion strategies, key players capitalize on the market revenue. In April 2020, Technogym SpA became an official international fitness equipment partner of the Ironman World Championship, Ironman 70.3 World Championship, and Ironman Virtual Racing Series.
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