Market Size of Europe Home Fitness Equipment Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2018 - 2022 |
| CAGR | 3.25 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Home Fitness Equipment Market Analysis
Europe's Home Fitness Equipment Market is projected to register at a CAGR of 3.25% over the next five years.
Consumers in Europe are increasingly engaging in rigorous exercise that aid in weight control, immunity development, and an increase in stamina, consequently improving the overall health of the body. Precautionary healthcare coupled with increasing preference for customized workout regimes (including workout timings), eliminating obstacles like commuting, and a comfortable home-friendly environment is increasing the demand for home fitness equipment as customers are keen to exercise daily. In addition, the novel coronavirus outbreak drove demand for virtual fitness courses and mental health services in 2020, which boosted the sale of home exercise equipment and established a new trend that is still in use today. For instance, according to the price comparison site Idealo, between March and July 2020, sales of exercise bikes in the United Kingdom grew by over 2,113%. Home workouts are gaining traction post-covid, led by companies such as Peloton. Furthermore, increasing awareness and the rapid spread of online gym tutoring positively contribute to the market's growth.
Moreover, the increasing penetration of international and domestic equipment manufacturers and the consumer's preference for home fitness equipment are promoting the market growth. To sustain in this competitive market, key players are continuously introducing new gym equipment, taking innovative initiatives, and trying to differentiate in terms of price, functionality, size, weight, and post-sales services. For instance, in November 2021, Motive8 announced the debut of motive8 Refurb, a new website that sells various used and reconditioned gym equipment. They stated that their goal with the website is to sell used fitness equipment from top brands like Technogym, Wattbike, Octane Fitness, Concept2, Inc., Life Fitness UK, and more. Such initiatives and convenience factors are expected to drive the market's growth during the forecast period.
