Home gym equipment is a promising market in Asia-Pacific is growing at a CAGR of 3.8% during the forecast period attributed to widespread awareness among consumers and investments by vendors, which are expected to fuel demand in the near future. Also, factors such as a busy schedule and long hours of work, crowded fitness centers, and vehicle parking hassles in metros, consumers have been more inclined to home gyms. However, major challenges include the price and size of equipment. 

As COVID-19 lockdown restrictions ordered gyms and health clubs to close, consumers began to shop for home gym equipment. In Q2 and Q3 2020, Asian countries, particularly India and China, saw an increase in demand, especially in online sales channels. With easing lockdown restrictions and reopening of gyms, the market got impacted adversely. Consumers are still reluctant to return to gyms as cases are on a rise in countries such as India, China, and Australia. Therefore, gyms will not be witnessing pre-COVID19-level numbers. As a result, the market is expected to see further growth owing to the higher penetration rate of home gyms. China is a hub for manufacturing gym equipment due to low labor costs, and the market will grow from high competition throughout the forecast period.

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The Asia-Pacific 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 cardiovascular 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, machines, and others. Based on the distribution channel, the market is classified into online and offline.

Country-wise, the market is segmented into China, Japan, India, and the Rest of Asia-Pacific. China is the largest revenue contributor to the home gym equipment market in Asia-Pacific. The home gym equipment market in China is expected to grow manifold during the forecast period with the higher penetration of e-commerce platforms and growing fitness routines of consumers in the country. During the COVID-19 outbreak, consumers followed strict lockdown restrictions, and gyms and other health facilities had to be closed. Therefore, the demand for home gym equipment increased, particularly high-end and professional-grade products.  

Research Methodology

The market study of the Asia-Pacific home gym equipment market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Asia-Pacific Home Gym Equipment Market Research and Analysis by Product Type
2. Asia-Pacific Home Gym Equipment Market Research and Analysis by Distribution Channel

The Report Covers

• Comprehensive research methodology of the Asia-Pacific home gym equipment market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Asia-Pacific home gym equipment market.
• Insights about market determinants that are stimulating the Asia-Pacific home gym equipment market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.