The US home gym equipment market is growing at a CAGR of 3.0% attributed to its highly competitive marketplace, established customer base, and technological innovation. The market is fragmented with several vendors, such as Nautilus, Technogym, Johnson Health, and others. The cost of manufacturing of home gym equipment is lower compared to heavy use equipment, as the former is light in weight and compact in size. Therefore, the market will see a considerable threat from new entrants, making it more competitive during the forecast period.
With the growing demand, vendors operating in the global market are expected to invest in innovation to achieve a competitive advantage in the country. Vendors such as Nautilus and Technogym will channel R&D toward cloud supporting apps and other technologies throughout the forecast period. The key driver during 2020 remains the COVID-19 outbreak, which has led to a hike in demand for gym equipment at home due to lockdown measures implemented across the nation. Along with the above factors, digital classes, apps, and websites have majorly supported demand in the market.
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The US 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 other; and strength training equipment, which is further sub-segmented into free weights, barbells & ladders, extensions, and others. On the basis of distribution channel, the market is classified into online and offline. The market is expected to witness an increased number of innovative products, greater investments in various segments, and high-level competition.
The highest revenue generating segment consists of rowing machines, treadmills, and ellipticals, among others, which holds around 60% of the total market share in product type. Digitally innovative applications in the cardio segment will see higher penetration rates globally. Cardio equipment such as exercise bikes, treadmills, and ellipticals were the most purchased products in Q2 and Q3 2020 in countries such as the US, Canada, India, and Germany.
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US 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
Company Profiles
- Adidas AG
- Core Health & Fitness, LLC.
- Decathlon S.A.
- Dyaco International
- Echelon Fitness Multimedia LLC
- Health in Motion, LLC
- HOIST Fitness Systems, Inc.
- ICON Health & Fitness
- Implus LLC
- Johnson Health Tech. Co., Ltd.
- Origin Fitness, Ltd.
- SportsArt, Inc.
- TECHNOGYM USA Corp.
- Torque Fitness USA.
- TRUEFitness
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