North America Home Fitness Equipment Market

North America Home Fitness Equipment Market Analysis

The North America Home Fitness Equipment Market is expected to register a CAGR of 2.09% during the forecast period.

The North American market has witnessed significant growth due to the rising health awareness among consumers, with the growing adoption of exercises related to physical well-being, weight management, improving body stamina, and muscular strength driving the market.

The rising percentage of the obese population and increasing health concerns are the other major factors driving the home fitness equipment market. According to the Centers for Disease Control and Prevention (CDC), in 2022, over 42% of Americans were obese, while around 30.7% were overweight. Overweight or obese conditions affect more than two-third thirds of Americans. Obesity is more prevalent among people who are between the ages of 40 and 59.

The rising preventive healthcare measures and the augmenting healthcare costs are enabling consumers to engage in regular workouts to remain fit. With the growing demand, manufacturers operating in the market are expanding their presence to achieve a competitive advantage. For instance, in September 2020, Peloton Interactive Inc. launched two new products for its home smart gym lineup, Bike+ and Tread, for USD 2,495. The new exercise bike joined the original Peloton model, which is still available for USD 1,895. At the same time, the Tread is the company's new entry-level treadmill, with the original model becoming the Tread+ for USD 4,295. Sedentary lifestyles, hectic schedules, and the growing consumer interest in at-home workouts have prompted the use of at-home fitness equipment in the North American region.

North America Home Fitness Equipment Market Trends

Consumers’ Interest in Customized Workout Regimes

The busy schedules and long working hours, crowded fitness centers, and problems regarding vehicle parking have resulted in an increasing number of consumers actively inclining toward home workouts. The home fitness equipment eliminates the inconvenience of commuting to a gym to use the machines and is highly cost-effective in the long run. The small, recurring cost incurred in transportation, workout equipment, trainer fees, and membership fees is a major factor promoting consumer inclination for home fitness equipment.

A recent survey conducted in 2018 by Fitrated, a website dedicated to providing consumer-friendly resources on fitness equipment, gear, and services, presented that 64.9% of American women and 36.1% of men avoid the gym due to anxiety about being judged, thus resulting in a significant rise in the home gym numbers in the past couple of years.

Technological advancements, such as wearable self-monitoring and virtual group exercises, are blurring the line between home-based workouts and gym sessions, henceforth boosting customers' demand for home fitness equipment in the region. For instance, in August 2021, Whoop raised an investment of USD 200 million in a series F funding. The company plans to invest the capital in R&D to build future wearable technology that helps track health, strain, sleep, and the body's recovery.

United States Remained the Largest Market

The US home fitness market has witnessed significant growth due to the rising health awareness among consumers, with the growing adoption of exercises related to physical well-being, weight management, improving body stamina, and muscular strength driving the market's growth in the country. The rising preventive healthcare measures and the growing healthcare costs are encouraging consumers to engage in regular workouts to remain fit. Thus, companies active in the country are adopting strategic measures by using interactive videos and pages on social media channels, allowing customers to get proper guidance directly from the experts, along with the equipment. Such factors are anticipated to contribute to the growth of home fitness equipment.

With the growing demand, manufacturers operating in the global market are expanding their presence to achieve a competitive advantage in the US market. For instance, in July 2022, Nautilus Inc. introduced two new bikes, Schwinn 190 Upright and Schwinn 290 Recumbent Bikes. Per the company's claims, both bikes are connected to JRNY digital fitness platform. They feature terrain control technology, new design elements, and functionality that suits various levels of fitness.

North America Home Fitness Equipment Industry Overview

The North American home fitness equipment market is highly fragmented. Icon Health & Fitness Inc., Peloton Interactive Inc., Johnson Health Tech Co. Ltd, and Nautilus Inc. are the few prominent players in the market. Players operating in the market consider various factors to make their products more appealing to customers. For example, players are offering products with digitally advanced applications. Technogym SpA, another prominent player in the market, became the first fitness equipment manufacturing company to introduce Apple GymKit. The company's cardio equipment is attuned with Apple Watch using Apple GymKit technology. This will enable consumers to track their indoor exercise by tapping their Apple watch.

North America Home Fitness Equipment Market Leaders

North America Home Fitness Equipment Market News

• In November 2022, Nautilus Inc. launched the Bowflex BXT8J Treadmill with JRNY adaptive fitness app in limited retail outlets such as Amazon, Dick's Sporting Goods, Academy, Best Buy, and Nebraska Furniture Mart. The product has a wide range of running belts, a Comfort Tech cushioning system, speeds up to 12 mph, and a 15% motorized incline.
• In September 2022, Peloton Interactive Inc. introduced a range of rowing machines with starting price of USD 3,195. The company has announced building a partnership with e-commerce giant Amazon to sell its product and expand its customer base.
• In June 2022, SportsArt added the G866 Front-Drive Elliptical to their innovative, energy-generating ECO-POWR line. It provides durability, dependability, and greater accessibility than traditional rear-drive ellipticals. SportsArt also offers the E866 and E863 Front-Drive Ellipticals with a wide range of options that meet the specific needs of customers.