The market for sports equipment has experienced tremendous growth in recent years, paralleling the increase in interest in the gym and an active lifestyle. Enthusiasm for fitness and health permeates modern society, prompting more and more people to seek ways to improve their well-being through physical activity.
This trend affects not only professional athletes, but involves an increasingly broad audience, consisting of individuals of all ages and fitness levels.
Sports equipment is one of the key aspects of this revolution in the fitness industry. Whether it’s weights, treadmills, spinning bikes, or simple yoga accessories, this equipment has become a mainstay for anyone who wants to take care of their body and mind.
People are increasingly aware of the physical and mental benefits of regular exercise and, consequently, are willing to invest in the equipment necessary to achieve their fitness goals.
Who are the target audience of the home fitness equipment market?
- Fitness enthusiasts
- Busy professionals
- Health-conscious families
- Elderly individuals
- Post-rehabilitation patients
- Technology enthusiasts
- Technology enthusiasts
Market Analysis
The global home fitness equipment market is expected to grow from $12.19 billion in 2023 to $18.33 billion by 2030, with a CAGR of 6% during the forecast period.
To offer consumers pleasant and productive training experiences, manufacturers in this market are constantly working to improve the functionality, design, and connectivity of their products.
Segmentation analysis of the home fitness equipment market
The global home fitness equipment market is divided into three main categories:
- Product types
- Sales channels
- Geographic regions
Product Type Segmentation
The market is divided into Cardiovascular Training Equipment and Strength Training Equipment. Cardiovascular training equipment holds the largest market share at 55%, compared to strength training equipment which accounts for 45% of the market. Popular products such as rowing machines, elliptical machines, exercise bikes, and treadmills fall into this category. These devices offer users efficient aerobic exercise by simulating sports like cycling, rowing, or running. People can regularly perform cardio exercises at home without having to go to the gym thanks to the convenience of these machines.
Sales Channel Distribution
The market is divided into Online and Offline. The online channel holds the largest market share, 56 percent, compared to offline, which covers 44 percent. Online sales are the buying and selling of home exercise equipment through e-commerce sites and digital platforms. Due to the ease with which customers can now access this sales channel, it has become increasingly popular in recent years. Online marketplaces offer a wide selection of products, in-depth product descriptions, user reviews, and often affordable prices. When looking for a hassle-free shopping experience, home fitness equipment is a popular choice because it allows consumers to browse and purchase equipment from the comfort of home. In addition, the Internet channel often allows products to be delivered directly to the customer’s home, which enhances the overall convenience of the shopping experience.
Regional Analysis
North America represented 38% of the global market value.
And the Italian Market?
From 2021 to the present, the search for “cheap do-it-yourself home gym” has increased 12-fold on Pinterest, and the search for a “daily stretching routine” has also grown 80 percent this year. If when the pandemic closed gyms working out in the living room was the only option, even now that there are no restrictions, there are many people who prefer to keep fit at home with home fitness apps or under the guidance of online personal trainers.
This is also confirmed by research from Samsung, according to which last year 46.6 percent of people who worked out did so right in the home, with a very high percentage among women.
What to Buy for Home Training?
Italians who trained at home alone during the lockdown mainly had to resort to bodyweight training: this mainly involved push-ups, sit-ups, planks, and squats. They were able to rely on equipment such as exercise bikes or treadmills to use at home for cardio workouts, as well as weights, resistance bands, or kettlebells, the latter being equipment that takes up very little space and can be stored in a closet, to be taken out when needed.
The main sales channels are specialized physical stores and the online sites of major brands, and of course “generalist” online channels such as Amazon,which within its “Fitness and gym” subcategory devotes ample space to products and equipment for use at home:
- Over 10,000 results for the keyword “home fitness”
- Equally as many for the keyword “home gym equipment”
- Supported by sponsored ads with video creatives that explain functionality and correct use of equipment
Prime Day and Black Friday prove to be an important showcase for brands and a much-anticipated event for users who want to set up a home fitness room, thanks in part to the workout reference sites turn in conjunction with these events into a focal point for purchase recommendations.