Fitness Industry Trends 2023 – Home Equity Market Size to Reach $17.3 Billion by 2030, Growing at 4.9% CAGR – Exclusive Report by Acumen Research and Consulting Acumen Research and Consulting recently released a report titled “Home Equity Market, Report on Analysis and forecasts for the region, 2022 -2030”
LOS ANGELES, Oct. 13, 2022 (GLOBE NEWSWIRE) — The global home equity market size is estimated at $11.3 billion in 2021 and is expected to reach a market size of $17.3 billion by 2030. growing at a CAGR of 42022%. .
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Technogym, Johnson Health Tech. Co., Ltd., HOIST Fitness Systems, Icon Health & Fitness, Inc., Amer Sports Oyj, True Fitness, Nautilus Inc., Tonal Systems, Core Health & Fitness, LLC, among others.
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The growth of the online fitness market will increase the demand for high-quality equipment that can be easily set up at home. Busy experts recommend exercising in the comfort of your own home and at your own pace by participating in online fitness classes. In response to the growing fitness equipment industry, market players are bringing digitally connected solutions to consumers. Consumers use digitally connected fitness equipment to get personalized initial training through online exercise classes.
The coronavirus (COVID-19) pandemic disrupted the fitness equipment market in 2020, causing health clubs and gyms to close due to lockdowns around the world. Due to the decrease in demand in fitness centers, the industry quickly declined. Some people avoided going to the gym for fear of spreading the virus through physical contact. This factor, however, increased the demand for home fitness equipment as people preferred to exercise indoors for safety reasons. The coverage, along with the reopening of the theater in 2021, will benefit the market. With the revival of the fitness industry, fitness centers will pay special attention to the cleanliness of equipment and social distancing in the exercise area.
Companies consider launching a unique product to strengthen their position and gain a larger market share. For example, Nautilus Inc. launched JRNY in October 2019, a digital platform that uses artificial intelligence to deliver personalized workouts that fit the user seamlessly. With the release of this product, the company hopes to be able to provide better solutions to its customers. Matrix Fitness, on the other hand, offers a training console that enables guided strength training.
The global home fitness market is divided into three categories: equipment, sales channel and end user. Elliptical machines, exercise bikes, treadmills, climbing frames and other machines are all part of the cardiovascular section. Deadlifts, barbells and ladders, barbells, pull-ups, power racks, and other strength training categories are all subcategories of strength training. Sales channels are divided into two types: online and offline. Home, health clubs, offices and hotels are different types of end users.
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According to our analysis of the home exercise industry, the cardiovascular segment will account for the largest share of the weight in the global fitness equipment market. According to the home equity market forecast, the offline segment will dominate the global home equity market and account for the majority of the market share. End-users predict that the home gym will dominate the global fitness market and reach the highest levels during the forecast period.
People will demand higher performance fitness equipment as they become more aware of the risks of obesity, such as heart attack, high blood pressure and diabetes. The market will soon get a boost as more health clubs and fitness centers incorporate advanced technology to meet changing health trends and consumer needs.
The global home equity market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA).
The Asia Pacific region is expected to grow rapidly in the global home equity market. For the domestic equity market, the Chinese market is expected to have the fastest growing CAGR in the APAC region. This is because many fitness centers use high-end equipment to attract customers. In addition, in 2019, China recorded the highest number of deaths from heart disease. This reason has increased the awareness of health and wellness, leading to an increase in the number of fitness centers. These factors are contributing to the growth of the global home equity market.
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On the other hand, Europe had the second largest market share in the home equity market, only after North America. Fitness awareness is high and disposable income is on the rise, both of which are fueling the adoption of digitally connected fitness devices. In response to the high demand for advanced equipment, manufacturers are announcing new solutions to meet the changing needs of consumers.
Major players participating in the home exercise market include Technogym, Johnson Health Tech. Co., Ltd., HOIST Fitness Systems, Icon Health & Fitness, Inc., Amer Sports Oyj, True Fitness, Nautilus Inc., Tonal Systems, Core Health & Fitness, LLC.
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Acumen Research and Consulting is a global provider of market intelligence and advisory services in the information technology, investment, telecommunications, industrial and consumer technology markets. ARC helps the community of investors, IT professionals and business leaders make informed technology acquisition decisions and develop robust growth strategies to remain competitive in the marketplace. With a team size of 100+ analysts and over 200 years of combined industry experience, Acumen Research and Consulting offers a combination of industry knowledge with international expertise and country-level knowledge. The tragedy has turned the fitness world upside down. Closed studios and no public games. Now, not only are gym members returning to the studio, but the internet is more popular than ever. The future of the fitness industry is in the midst of great challenges and opportunities.
A new way of looking at training possibilities brings its results. Thanks to this, the trend in the fitness industry is gaining momentum and actively participating in our lives. Rethinking the importance of exercise and finding simple ways to keep fit is increasing the influence of the fitness industry.
“Necessity is the mother of invention,” says Phillip Mills, CEO of Les Mills. “Studio owners who relied only on what was available in their on-site studio fell into the digital world.” Les Mills said it recently published the world’s largest post-pandemic survey of fitness consumer needs, the Les Mills Global Fitness Report 2021. It surveyed 12,157 fitness consumers worldwide. One result: 80 percent of fitness enthusiasts want to incorporate the digital fitness industry into their personal training plans in the future.
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This condition is confirmed by the American Academy of Sports Medicine (ACSM). Last year, online training (live and on-demand training) topped the top ten fitness trends worldwide for the first time. Followed by wearables, weight training, outdoor activities and HIIT (High Intensity Interval Training). In the 6th place is online training. This is now increasingly available in studios to allow members to practice more easily (for example, early in the morning).
Since the outbreak of the coronavirus, health has been at the forefront. A Les Mills report finds that 50 percent of consumers will be more concerned about their well-being by 2021. 82 percent exercise or plan regularly; 75 percent attend exercise. This makes fitness the biggest sport in the world. This presents huge growth opportunities for fitness providers once the Covid restrictions are eased or lifted completely. After all, live classes are the most popular activity. Gyms in New Zealand, for example, are reporting increased activity among their members compared to before the pandemic. In the United States, 75 to 80 percent of members returned to the studio in the first months of 2021. In all countries surveyed in the Les Mills Fitness report, the enrollment rate is 110 percent per member.
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The fitness and health industry faces a loss of approximately 25 percent of its original 11.7 million members (as of the end of 2019) in 2020 and the first half of 2021, according to the DSSV (German Association of Health Employers and Employers) . ) Current research suggests that it will take at least two years for the industry to recover to December 2019 membership levels.
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