The Asia Pacific Home Fitness Equipment Market would witness market growth of 8.7% CAGR during the forecast period (2023-2030).
Incorporating artificial intelligence (AI) and machine learning technology into home fitness equipment contributes to expanding the market. In the market, it is anticipated that AI-based personal trainers will be the next big thing. Google and Apple are developing intelligent peripheral devices that can virtually advise and assist users based on the compilation of health data.
Soon, these technological advances are anticipated to be the primary factor propelling the market. In addition, sedentary lifestyles and demanding schedules have increased the use of domestic fitness apparatus. Utilizing fitness equipment within the home to exercise minimizes the cost of a gym membership.
The short-term demand for residential fitness apparatus is increasing as many consumers desire to exercise daily. Contributing to this trend is preventative healthcare, an increasing preference for personalized training routines (including exercise time), and a cozy, home-like environment. Especially in developing nations, the inconvenience of traveling to a gym to use the machines, membership fees, and trainer fees has contributed to the recent growth of domestic exercise equipment.
During 2017–18, 67% of Australian citizens aged 18 and older were overweight or obese. 36% were categorized as overweight but not obese, while 31% were classified as obese. The specified demographic consists of approximately 12.5 million adults, according to estimates. According to the most recent national statistics for New Zealand, 13% of women and 10% of men are obese. On the other hand, 38% of females and 55% of males were overweight. Studies from around the world indicate that the prevalence of obesity is rising. This increasing prevalence of obesity in the region has increased interest in weight-controlling physical activities. Thus, the market is anticipated to experience robust growth prospects.
The China market dominated the Asia Pacific Home Fitness Equipment Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $907.1 million by 2030. The Japan market is anticipated to grow at a CAGR of 8% during (2023 - 2030). Additionally, The India market would register a CAGR of 9.4% during (2023 - 2030).
Based on Price Point, the market is segmented into Mid Price, Low Price, and Premium Price. Based on Product, the market is segmented into Cardiovascular Training Equipment, Treadmills, Stationary Cycles, Rowing Machines, Free Weights, Power Racks, and Elliptical & Others. Based on Distribution Channel, the market is segmented into Dealers, Retailers, Direct Distribution, Online, and Others. Based on End User, the market is segmented into Households, Gym in Apartment, and Apartment. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Home Fitness Equipment Market is Projected to reach USD 11.8 Billion by 2030, at a CAGR of 7.9%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Icon Health & Fitness, Inc. (IHF Holding, Inc.), Johnson Health Tech Co., Ltd, Amer Sports, Core Health & Fitness, LLC, Nautilus, Inc., Technogym S.p.A., Hoist Fitness Systems, PureGym Limited (Pinnacle Bidco plc), Hammer Sport AG, and Rouge Fitness
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