We have seen in the past three years a huge rise in home fitness and I don't want to beat a dead horse but it is most definitely due to the pandemic. Unfortunately for gym owners this means a decrease in gym memberships but on the flip side their have been a rise in personal training and outdoor exercise. So with all that to say more people are working out and trying to stay healthy in the comfort of their homes. Here are some numbers:
59.1% of active adults chose outdoor activities like running, training, hiking, and walking as the best way to stay fit in 2021; up 14.6% from the start of 2020
39.4% of gym members are switching to running and other outdoor activities in 2021
At-home fitness equipment (up 49.6%)
Personal trainers/nutritionists (up 47.5%)
Online fitness courses, classes, and subscriptions (up 16.8%)
What does this mean for large fitness equipment manufacturers? Well for most it means a new way of innovation for their equipment. We can look at companies like peloton and tonal who have developed a whole new way of fitness using virtual technology and easy weight storage. Does this mean that there is no room for large equipment and free weights? We don't think so. Here at Troy we believe there is a world of opportunity for smaller home gyms with racks and free weights. Here are some numbers on free weight and strength equipment growth in the year 2020 compared to 2019:
Free weights - $410.5 million - up 104.22%
Home gyms -$ 385 million - up 73.75%
Exercise benches - $214.6 million - up 77.94%
Compared to Cardio equipment
Elliptical machines - $927 million - up 17.93%
Treadmills - $1.535 billion - up 44.13%
Stair-climbing machines - $31.9 million - up 27.6%
As you can see there has been a huge growth in strength equipment at home compared to the traditional cardio equipment. This is because more people are coming to the realization that it is possible to have a squat rack and a run of dumbbells in their home whether it be in a designated room or their garage. Here are some home gym inspiration with predicted costs for those of you who are seriously considering starting your home gym journey!
Source
Rizzo, N. (1970, October 12). 90+ fitness equipment statistics 2021/2022 [research review]. Athletic shoe reviews. Retrieved February 7, 2022, from https://runrepeat.com/fitness-equipment-statistics
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