The global home gym equipment market is growing at a CAGR of 3.2% during the forecast period. The home gym equipment market is one of the fastest-growing industries at present owing to the COVID-19 outbreak, as many gyms and health clubs were under lockdown since Q1 2020. Hence, the consumer’s shift toward home gym was a positive driving factor for the home gym equipment industry. Home gym equipment is also driven by an increase in health awareness, the prevalence of obesity, and a rise in health consciousness. Home gym equipment is classified based on product type and sales channel in the market. The global home gym equipment market is vast, with multiple players delivering a diverse range of equipment. 

Although online sales have increased in 2020 owing to lockdown measures, the delivery of gym equipment was heavily impacted due to restrictions on the movement of cargo in certain places. Post the relaxation of lockdown measures, both online and offline mediums witnessed a spike in traction. Because of this, vendors, through their offline stores, increased their local sales strategies, particularly in those areas where an online connection doesn’t come easy, and other lesser-known areas to reach the customer better.

Segmental Outlook  

The global home gym equipment market is segmented based on product type, and distribution channel. Based on product type, the home gym equipment market is fragmented into cardio equipment, which is further sub-segmented into ellipticals, treadmills, exercise bikes, and others; and strength training equipment, which is further sub-segmented into free weights, barbells & ladders, extensions, and others. Based on the distribution channel, the market is classified into online and offline. Market demand will remain high until 2026, and more due to the availability of online multichannel platforms as vendors increase their virtual presence through e-commerce platforms (own or third party). Offline channels too are expected to grow at a steady rate during the forecast period.

Growth in E-Commerce Fitness Equipment Market

Growth in the home gym equipment market has given a boost to the e-commerce market for home gym equipment, such as Decathlon, Flipkart, Amazon, Snapdeal, and others. These market players saw a surge in sales during the COVID-19 lockdown. Therefore, the home gym equipment market edged over online stores, with the majority of equipment sold being dumbbells, weights, bars, treadmills, and exercise bikes. 

Regional Outlook 

The global home gym equipment market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. The global home gym equipment market saw tremendous success owing to the COVID-19 pandemic outbreak. 2020’s first quarter ended with a contraction in sales, while the second quarter onward, the market saw a surge in sales in various countries such as the UK, Germany, India, and the US. In Europe, the performance was impacted by a weakness in the UK due to Brexit issues; however, a positive trend took effect in France and Germany. In Asia-Pacific, China and India are the top two countries seeing a higher demand in the market. Pricing depends on three factors – material, transportation, and labor costs. It also varies from region to region. For instance, North America has higher labor costs but comparatively low material and transportation costs. On the other hand, Asia-Pacific sees lower labor costs but higher material and transportation costs. Hence, pricing of the product varies considerably, which affects the overall cost of the product across territories, thereby influencing demand in the market.

Global Home Gym Equipment Market Growth, by Region 2020-2026

Market Players Outlook

The market for home gym equipment consists of international as well as local vendors, which has brought a fair amount of competition to the sector. Technogym, Johnson Health, Dyaco, and Nautilus are a few prominent players. Vendors operating in the market are offering products with advanced capabilities to make them more attractive to consumers. Technogym, for example, launched Apple GymKit in March 2018, providing its customers with digital support. The company’s cardio equipment is compatible with the ‘Apple Watch’ through Apple GymKit. The industry is likely to face intensified competition from similar product suppliers in markets where patent protection due to the expiry of the patent is restricted or diminished. The principal competitive factors affecting businesses are quality, brand recognition, innovation, and pricing. The use of online platforms and websites for product sales by traditional retailers has grown, with competitors largely opting for direct and retail sales channels.

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global home gym equipment market. Based on the availability of data, information related to the products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.