new york , February 8, 2024 /PRNewswire/ — Home fitness equipment market It is estimated that it will grow up to 3.08 billion dollars According to Technavio, from 2022 to 2027.The market is estimated to grow rapidly CAGR 9% During the forecast period. North America estimated to contribute 38% Affects growth during the forecast period. Growth in the region is driven by a health-conscious population with the means to purchase such equipment and an increase in age-related health conditions.with the US Canada is a major contributor. Daily exercise promotes a healthy lifestyle, strengthens the immune system, reduces doctor visits, and lowers medical costs, increasing the demand for home fitness equipment due to its time-saving convenience. Cardiovascular equipment, especially treadmills, are in high demand due to their convenience and ease of use.
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Technavio focuses on distribution channels (offline and online), type (cardiovascular and strength training equipment), and geography (North America, Europe,Asia Pacific, south americaand middle east and Africa).
- of offline segment It is estimated to witness significant growth during the forecast period. Offline distribution channels for home fitness equipment include direct sales, distributors, department stores, and specialty stores, which contribute significantly to the market growth. At these stores, customer care experts can offer advice, compare brands and test products. Particularly in developing regions where internet penetration is low, a hands-on purchasing experience is required.
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Increasing demand for home fitness equipment is a key factor driving growth. Home fitness equipment addresses the time constraints of working professionals and allows them to train at home. Consumers learn how to use the equipment through online her resources and save on trainer costs. A sedentary lifestyle increases your risk of anxiety, obesity, diabetes, and osteoporosis. The global prevalence of chronic low back pain is increasing due to lack of physical activity among young people. Awareness towards a healthy lifestyle is increasing the demand for home fitness equipment.
- Increasing smartphone penetration is a major trend.
- The limitations of cardiovascular devices are one of the critical challenges hindering growth.
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Benefits of home fitness equipment
Home fitness equipment offers many benefits to individuals who want to maintain an active lifestyle and achieve their fitness goals from the comfort of their home. Home gym equipment provides easy access to a variety of exercise machines and training gear, allowing users to work on a personalized fitness routine without having to go to the gym. These fitness tools allow individuals to perform a wide range of exercises that promote overall health and wellness. Personal fitness devices such as smart fitness trackers and wearable technology can help you better monitor your workouts and progress, helping you track and motivate your goals. The availability of indoor fitness solutions caters to a variety of exercise preferences, contributing to the popularity of the at-home workout trend. The integration of fitness technology continues to innovate home fitness equipment, providing advanced features for an effective and enjoyable fitness experience.
What are the key data covered in this Home Fitness Equipment Market report?
- CAGR during the forecast period
- More information on the factors driving growth from 2023 to 2027
- Accurate estimation of size and contribution to parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the home fitness equipment industry North America, Europe,Asia Pacific, south americaand the middle east and Africa
- Thorough analysis of the competitive environment and detailed information about companies
- Comprehensive analysis of factors hindering the growth of home fitness equipment companies
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table of contents:
Understanding market size
five forces analysis
Segmentation by distribution channel
Segmentation by type
Segmentation by geography
Drivers, challenges and trends
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