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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Asia-Pacific Home Gym Equipment Market Segmentation
By Product Type
- Cardio Equipment
- Ellipticals
- Treadmills
- Exercise Bikes
- Others
- Strength Training Equipment
- Free Weights
- Barbells & Ladders
- Extension
- Others
By Distribution Channel
- Online
- Offline
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Regional Analysis
- China
- India
- Japan
Rest of Asia-Pacific
Company Profiles
- Adidas AG
- Overview
- Product Portfolio
- Recent Activities
- Amer Sports Corp.
- BFT Fitness Co.,Ltd.
- Core Health & Fitness, LLC.
- Decathlon S.A.
- Dyaco International
- Fitness World
- Johnson Health Tech. Co., Ltd.
- Nelco (India) Pvt. Ltd.
- Shandong Realleader Fitness Co., Ltd.
- SportsArt, Inc.
- TECHNOGYM S.p.A.
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