North American home gym equipment market is growing at a CAGR of 2.8% attributed to the rising health awareness among consumers and the trend in workouts related to physical well-being, weight control, and muscle strength. The rising percentage of the obese population and other growing health issues are also driving the country's home gym equipment market. Apart from the above, the major factor currently driving the market is the COVID-19 outbreak and its lockdown implications in the fitness industry. Because of this, online sales surpassed offline sales.

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In Q1 2020, the market witnessed a supply chain disruption, due to which new production was impacted. However, with industries reopening in various countries in Q2 and Q3 2020, production facilities will break even and lower the ratio of demand and supply in the region. In addition, manufacturers operating in the global market are expanding their presence to achieve a competitive advantage due to the growing demand. Vendors have also revisited their localized sales strategies and leveraged localized marketing mediums to increase profit margins, which saw a decline due to lower B2B sales.

Further, in developed regions such as North America, e-commerce retail sales of yoga mats and exercise bikes reached impressive targets. Cardio equipment such as treadmills and ellipticals will capture huge demand during the forecast period owing to heightened consciousness when it comes to fitness among customers and rapid online ordering of equipment suitable for home settings. Moreover, e-commerce industry stakeholders employ a broad range of marketing tactics to maximize customer penetration of their products. These include endorsements by celebrities, event management, and social media marketing.

The North American 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. Treadmills, elliptical, exercise bikes, and weightlifting and power training machines have been the most extensively used gym equipment in North America. correspondingly, cardiovascular fitness equipment led the market share in 2019 and is projected to maintain its dominance over the forecast period. This is because treadmills are widely accepted for home exercise and are considered one of the most convenient and essential home gym equipment.

Research Methodology

The market study of the North American 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. North American Home Gym Equipment Market Research and Analysis by Product Type
2. North American Home Gym Equipment Market Research and Analysis by Distribution Channel

The Report Covers

• Comprehensive research methodology of the North American 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 North American home gym equipment market.
• Insights about market determinants that are stimulating the North American home gym equipment market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.