Los Angeles, February 06, 2020 -The rising cases of diseases and expensive healthcare services are increasing the importance of exercising amongst people, leading to the growth of the fitness industry. To understand the market better QY Research has published a report titled, “Global Home Gym Exercise Equipment Market Research Report 2020”. According to the research report, the global home gym exercise equipment market will be valued at US$1159 mn by 2020 and is expected to reach US$1484 mn by the end of 2026, registering a CAGR of 4.2% between 2021 and 2026.
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Expensive Memberships and In-accessibility to Gyms to Drive Global Market
People around the world are looking at exercising as an aid for controlling weight, building immunity against diseases, improving skin health, and boosting energy levels. All of these factors are leading to the increasing the trend of exercising. Now, the growing fitness industry is also leading to the growth of gym exercise market. However, owing to expensive gym membership charges, low accessibility, and time constraints large sections of demography are preferring to workout at home. This is increase the demand for home gym exercise equipment which can help user monitor, analyze, and track their progress at home. This can help them improve their fitness performance and save time and money.
Furthermore, the rising number of platforms that allows free access to home workout modules, diet charts, and necessary calculators to track and understand the progress at home are further expected to drive the market.
Treadmill and Elliptical Trainer Segment to Occupy Dominant Market Share
Treadmill and elliptical trainers are two equipment holding majority share in the global market. This growth is attributable to their importance in both weight loss, endurance, and stamina. Furthermore, these machines also help to target the whole body with regular workout.
North America to Observe Robust Growth as Fitness Gains Prominence
Rising risks of obesity and cardiovascular disease in North America along with expensive healthcare has encouraged more and more people towards a healthy lifestyle. This is expected to encourage the sales of home gym exercise equipment across the North American region
Manufacturers to Add More Features to Home Gym Equipment to Combat Competition
Life Fitness has recently announced the debut of Life Fitness On Demand, which is an innovative library of digital classes, which can only be accessed through the touchscreens of Life Fitness premium cardio products. The library has on-demand classes available on elliptical, treadmills, cross-trainers, climbers, and exercise bikes, which can also help people to get advance training outside fitness centers to train with experts. This starter will help the company reach wider audiences to combat competition.
The other major players in the market include BH Fitness, Stamina Products, Steelbody, Technogym, Nautilus, LifeSpan Fitness, Marcy, Johnson Health, Precor, Shuhua, Impulse, Body Champ, Body-Solid, ICON Health &Fitness, Powerline, Valor Fitness, Weider, etc.
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