Fitness equipment can be used to shape, exercise, lose weight, etc. Today, most people are busy with work, leaving less and less time for the gym, so home fitness equipment gradually comes into vision. The fitness equipment is mainly divided into traditional fitness equipment and interactive fitness equipment. Traditional types mainly include treadmills, dumbbells and spinning bikes. Interactive fitness equipment provides virtual interactive fitness experience, provides an immersive fitness environment, and enhances user experience. In 2019, the market shares of two different types of home fitness equipment were 54.04% and 45.96% respectively.
United States Home Fitness Equipment Market Development under COVID-19
The sudden outbreak of the epidemic trapped many residents at home, and offline gyms were closed. However, enthusiasm of people for keeping fit and figure through fitness has not diminished. This has led to a surge in online orders for products such as kettlebells, treadmills, and stationary bicycles. In addition to traditional fitness equipment, sales of interactive fitness equipment have surged. It is estimated that the market value of the home fitness equipment industry in the United States in 2020 will reach 2,569.14 M USD, and the growth rate will reach 13.70%, which is about twice the growth rate of the market value in 2019. When the epidemic hinders economic development and market development in all walks of life, the home fitness equipment market is unique, with sales increasing instead of decreasing.
Even if the epidemic is over, fitness experience during this period may greatly affect fitness culture. After a period of home exercise, users will further accept this form of exercise. Provides huge opportunities for the home fitness equipment industry. Players in the industry can use this period to accumulate original customers, establish their own brand advantages, and gain more market share.
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Combining Intelligent Technology to Enhance User Experience and Promote Industry Development
Crowded fitness centers, busy schedules and long hours of work have caused more and more consumers to actively prefer home exercises. Home fitness equipment eliminates the trouble of commuting to the gym to use fitness equipment and is very cost-effective in the long run. Increasing health awareness of consumers and the continued adoption of exercise methods related to physical health, weight management, physical strength improvement, and muscle strength are driving the growth of the North American market. Due to eating habits, the proportion of obese people in the United States is high, and concerns about health issues are another factor driving the development of fitness equipment market.
In 2019, MIRROR, the company that created the first almost invisible interactive home gymnasium, announced the launch of one-on-one private training. For the first time, members will be able to bring home top American trainers through immersive technology of MIRROR. Since then, there have been continuous attempts to participate in the competition. In 2020, a company called Carbon launched its own interactive mirror called Carbon Trainer, which uses 3D cameras and sensors to help users exercise at home. With the increase in user demand, intelligence will become a new trend in product creation in the home fitness equipment industry. By implanting gamification and socialization elements, building a fitness community platform and enhancing customer penetration will create more opportunities for manufacturers to communicate with consumers. More and more manufacturers are investing in launching apps, which provides customers with a platform for them to choose personal trainers for online courses or home visits to meet their specific fitness requirements, such as bodybuilding.
The global home fitness equipment market is highly competitive, with many local and global players active in the market, and new entrants are constantly entering the market. Players in the industry are facing increasingly fierce market competition. For existing players, how to carry out product innovation, develop marketing strategies and stabilize their market share is a challenge. The space constraints of large fitness equipment (such as massage chairs, exercise bikes, fitness treadmills and fitness equipment) are the main factors limiting the growth of the home fitness equipment market. In addition, the maintenance of large fitness equipment is also one of the factors that force consumers to cancel their purchase plans. As a consumer product, sporting goods are urgently required to transform and upgrade under the fierce market competition, settle existing problems and concerns of customers to break out development limitations, forming their own brand advantages, and become a well-known company with international competitiveness and an independent brand with international influence.
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