The Onset of COVID-19 Stimulated the Demand for Home Gym Equipment

The global home gym equipment market is estimated to record a CAGR of 3.2% during the forecast period (2020-2026). Globally, around 25% of gym memberships are predicted to get canceled by gym-goers due to COVID-19. Around 35-40% of new consumers are first-time buyers and have started exercising at home due to health concerns induced by the COVID-19 scare, which has stimulated the growth of the home gym equipment market. Until 2019, the home gym equipment market had been growing steadily, but the pandemic further encouraged people to work out from home and increased the demand for home gym equipment. The competition is expected to grow in the short term for both online and offline channels. Online marketing through social media, catalogs, celebrity endorsements, and others are anticipated to drive the sales of home gym equipment during the forecast period.

Browse the full report description of "Global Home Gym Equipment Market Size, Share & Trends Analysis Report by Product Type (Cardio Equipment (Ellipticals, Treadmills, Exercise Bikes, and Others) and Strength Training Equipment (Free Weights, Barbells & Ladders, Extension, and Others)) and by Distribution Channel (Online and Offline) Forecast Period (2020-2026)" at https://www.omrglobal.com/industry-reports/home-gym-equipment-market

However, governments have started to relax their lockout measures for COVID-19, leading to the eventual reopening of health clubs, gyms, and fitness centers, which is expected to create a challenge for the home gym equipment market. Many countries have initiated a gradual opening of health clubs and gyms in their states, and the shift to gyms owing to their better equipment and time management will bring challenges to the market.

Market Coverage

• The market number available for – 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- by Product Type and Distribution Channel
• Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
• Competitive Landscape- Adidas, AG, Cybex International, Inc.; Dyaco; ICON Health & Fitness; Nautilus, Inc.; TECHNOGYM S.p. A.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?

o Recovery Timeline

o Deviation from the pre-COVID-19forecast

o Most affected region and segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Home Gym Equipment Market Report Segment

By Product Type

• Cardio Equipment

o Ellipticals

o Treadmills

o Exercise Bikes

o Others

• Strength Training Equipment

o Free Weights

o Barbells & Ladders

o Extension

o Others

By Distribution Channel

• Online
• Offline

Global Home Gym Equipment Market Report Segment

North America           

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific    

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World 

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