The Business Research Company’s Global Home Fitness Equipment Market Report 2020-30: Covid 19 Implications And Growth
LONDON, GREATER LONDON, UK, August 4, 2020 /EINPresswire.com/ — Virtual reality fitness equipment, accessories, and apps are emerging trends in the home fitness equipment market to get physical workouts, which can inspire and motivate to keep up fitness goals with fun games and real-life training scenarios. They not only inspire and motivate users to work out and firm up the body, but also save thousands of dollars on cross trainers, treadmills and stationary bikes. For instance, VR Fitness Company is creating the world’s first reality gym experience by providing virtual reality fitness machines that are built to give a safe and fun aerobic session for all fitness levels, making exercise a lot more fun and exciting. Virtual reality accessories are also available in the market which is connected to fitness equipment over Bluetooth and are compatible with the fitness equipment.
The global home fitness equipment market size is expected to grow from $6.76 billion in 2019 to $9.49 billion in 2020 at a compound annual growth rate (CAGR) of 40.4%. The growth is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and other commercial activities, that paved the way and increased demand for fitness equipment for home-based workouts and improvement of online fitness content. The home fitness equipment market is expected to stabilize and reach $8.62 billion in 2023 at a CAGR of -3.16%.
Precautionary healthcare coupled with increasing preference for customized workout regime has contributed to the growth of the home fitness equipment market. Today, people are inclined towards maintaining an active lifestyle with regular exercise which can maintain a healthy weight and decrease the risk of chronic diseases. According to Mayo Clinic, an American nonprofit academic medical center, 150 to 300 minutes of moderate-intensity activity is needed in a week which includes physical activities such as fast walking or swimming as an important part of preventive care and to prevent weight gain. People prefer to have a customized workout and are getting trained by online experts and individual training courses in order to meet their requirements. Preventive and precautionary healthcare and customized workout regimes have increased the demand for home fitness equipment.
The market for home fitness equipment consists of sales of fitness equipment used at home. Home fitness equipment includes devices and machines used for performing and monitoring physical exercises at home for management of weight, improving stamina, developing muscle strength, improving appearance and personality, burning excess fat, simulating heart rate, or treating and recovering from medical conditions and to maintain overall health and fitness. The market consists of revenue generated by the companies’ manufacturing home fitness equipment by the sales of these products.
The home fitness equipment market is segmented by product into treadmills, elliptical machines, rowing machines, strength training equipment, and others. By application, the market is segmented into home, small gyms, offices, and others.
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Source: EIN Presswire