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Saudi Arabia Home Fitness Equipment Market

Saudi Arabia Home Fitness Equipment Market

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Saudi Arabia Home Fitness Equipment Market - By Product Type (Treadmills, Elliptical Machines, Stationary Cycles, Rowing Machines, Strength Training Equipment, Others); By Training Type (Cardiovascular Training Equipment, Strength Training Equipment, Others); By Distribution Channel (Offline, Online), Trend Analysis, Competitive Landscape & Forecast, 2023–2029

  • Published Date: January 2023
  • Report ID: BWC23018
  • Available Format: PDF
  • Page: 118

Report Overview

Increasing awareness about maintaining a healthy lifestyle, growing focus on managing the increasing prevalence of chronic and lifestyle diseases, and increasing personal disposable income are expected to drive Saudi Arabia home fitness equipment market during the forecast period between 2023 and 2029.

Saudi Arabia Home Fitness Equipment Market - Industry Trends & Forecast Report, 2029

Saudi Arabia home fitness equipment market is projected to grow at a CAGR of 14.2% during the forecast period between 2023 and 2029. Saudi Arabia home fitness equipment market registered significant growth post the COVID–19 pandemic when the gyms were closed and health consciousness among people surged. The high purchasing power of consumers in the country and strict cultural norms that bar certain segment of the population from attending public gyms acts as major driving factor for the growth of the market. Therefore, home fitness equipment manufacturers are increasingly launching new products, which is expected to boost the growth of the overall Saudi Arabia home fitness equipment market in the forecast period.

Saudi Arabia Home Fitness Equipment Market

Growth Drivers

Growing Awareness about Maintaining a Healthy Lifestyle

According to Health Research Policy and Systems, the non–communicable diseases cause 73% of the total deaths in Saudi Arabia, among which 37% account for cardiovascular diseases, 10% for cancer, 3% for diabetes, 3% for respiratory diseases, and other NCDs at 20%. The concerning surge in the prevalence of various chronic diseases is fueling the health–consciousness among Saudis. As a result, they are increasingly investing in home fitness equipment that motivates them to exercise regularly without missing a day. This is anticipated to fuel the growth of the Saudi Arabia home fitness equipment market in the forecast period.

Restraints

High Cost of Fitness Equipment

The excessive cost of high–end fitness equipment may act as a huge restraining factor for the growth of the Saudi Arabia home fitness equipment market. For instance, a good treadmill costs around USD 1,000. The average cost of a rowing machine is around USD 1,000 to USD 2,000. This may limit the adoption of home fitness equipment, especially among middle and lower-income groups. Furthermore, the availability of commercial gyms and gym memberships and subscriptions may also act as a hindrance to Saudi Arabia's home fitness equipment market growth.

Impact of COVID-19 on Saudi Arabia Home Fitness Equipment Market

The COVID–19 pandemic outbreak provided significant growth opportunities to the Saudi Arabia home fitness equipment market. Health consciousness among citizens spiked to prevent themselves from virus infection or other types of lifestyle diseases. However, the lockdown imposed by the Saudi government halted the gym operating in the country, which barred people from working out in gyms. This resulted in a significant shift from outdoor gyms to home fitness equipment. Furthermore, working out at home with home fitness equipment also ensured social distancing and prevented the communication of viruses. Due to all these factors, the market is anticipated to flourish in the post COVID-19 period.

Saudi Arabia Home Fitness Equipment Market

Segmental Coverage

Saudi Arabia Home Fitness Equipment Market – By Product Type

Based on product type, Saudi Arabia home fitness equipment market is categorized into treadmills, elliptical machines, stationary cycles, rowing machines, strength training equipment, and other segments. The rowing machines segment held the highest market share in the year 2022 and is projected to dominate the market in the forecast period as well. Rowing machines offer a full-body workout i.e., one’s arms, legs, and core are strengthened, along with core and cardiovascular endurance. In other words, if a person uses the rowing machine regularly, they will find that they get stronger and breathe easier.

Saudi Arabia Home Fitness Equipment Market – By Training Type

Based on training type, Saudi Arabia home fitness equipment market is segregated into cardiovascular training equipment, strength training equipment, and other segments. Cardiovascular training equipment accounts for the highest share of Saudi Arabia home fitness equipment market. Cardio equipment, such as treadmills, rowing machines, and assault bikes, are popular among Saudis as they are used for weight loss and maintaining heart health. Therefore, regular and moderate use of this cardiovascular training equipment is recommended for patients suffering from chronic illnesses including diabetes, and high blood pressure.

Saudi Arabia Home Fitness Equipment Market – By Distribution Channel

Based on distribution type, Saudi Arabia home fitness equipment market is segmented into offline and online. The offline segment dominates the Saudi Arabia home fitness equipment market. Many specialty stores and shopping complexes offering home fitness equipment allows customers to make real-time purchases of equipment. The shopkeepers or salespersons also assist the customers in choosing the right product according to their needs and personal space. However, the online segment is anticipated to witness the biggest growth owing to the COVID–19 pandemic which led to the closure of offline stores.

Competitive Landscape

Major players operating in Saudi Arabia home fitness equipment market include Technogym SpA, NordicTrack, Precor Incorporated, Core Health & Fitness LLC, Sparnod General Trading LLC, ACTIVE FITNESS STORE LLC, Nortus Fitness, Athleco, FitOne.com, and Sun & Sand Sports. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

  • In February 2022 - Echelon Fitness, a US–based smart fitness equipment manufacturer, expanded its business in Saudi Arabia as well as in the UAE and Kuwait.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2022

Base Year – 2022

Estimated Year – 2023

Forecast Period– 2023–2029

Facts Covered

Revenue in USD Million

Product/ Service Segmentation

Product Type, Training Type, Distribution Channel 

Key Players

Technogym SpA, NordicTrak, Precor Incorporated, Core Health & Fitness LLC, Sparnod General Trading LLC, ACTIVE FITNESS STORE LLC, Nortus Fitness, Athleco, FitOne.com, Sun & Sand Sports

 

 

By Product Type

  • Treadmills

  • Elliptical Machines

  • Stationary Cycles

  • Rowing Machines

  • Strength Training Equipment

  • Others

By Training Type

  • Cardiovascular Training Equipment

  • Strength Training Equipment

  • Others

By Distribution Channel

  • Offline

  • Online

 

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. Saudi Arabia Home Fitness Equipment Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Growing awareness about maintaining a healthy lifestyle
        2. Increasing prevalence of chronic diseases
        3. Increasing personal disposable income.
      2. Restraints
        1. High initial investment
        2. Low resale value
      3. Opportunities
        1. Rising prevalence of cardiovascular diseases
        2. Rapid expansion of health and wellness industry
      4. Challenges
        1. Rising adoption of alternative exercise regime
    3. Technology Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Saudi Arabia Home Fitness Equipment Market Overview
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product Type
        1. Treadmills
        2. Elliptical Machines
        3. Stationary Cycles
        4. Rowing Machines
        5. Strength Training Equipment
        6. Others
      2. By Training Type
        1. Cardiovascular Training Equipment
        2. Strength Training Equipment
        3. Others
      3. By Distribution Channel 
        1. Offline
        2. Online
  5. Competitive Landscape
    1. List of Key Players and Their Range
    2. Saudi Arabia Home Fitness Equipment Company Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership, and others)
  6. Impact of Covid-19 on Saudi Arabia Home Fitness Equipment Market
  7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
    1. Technogym SpA
    2. NordicTrak
    3. Precor Incorporated
    4. Core Health & Fitness LLC
    5. Sparnod General Trading LLC
    6. ACTIVE FITNESS STORE LLC
    7. Nortus Fitness
    8. Athleco
    9. FitOne.com
    10. Sun & Sand Sports
    11. Other Prominent Players
  8. Key Strategic Recommendations
  9. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation

 

List of Figures

 

Figure 1        Saudi Arabia Home Fitness Equipment Market Segmentation                                                                                  

Figure 2        Saudi Arabia Home Fitness Equipment Market Value Chain Analysis                                                                                  

Figure 3        Company Market Share Analysis, 2022                                                                                  

Figure 4        Saudi Arabia Home Fitness Equipment Market Size, By Value (USD Million), 2019–2029                                                                                  

Figure 5        Saudi Arabia Home Fitness Equipment Market Share, By Product Type, By Value, 2019–2029                                                                               

Figure 6        Saudi Arabia Home Fitness Equipment Market Share, By Training Type, By Value, 2019–2029                                                                               

Figure 7        Saudi Arabia Home Fitness Equipment Market Share, By Distribution Channel, By Value, 2019–2029                                                                                                    

                                                                                                                       

List of Tables

                                                                                                                       

Table 1         Saudi Arabia Home Fitness Equipment Market Size, By Product Type, By Value, 2019–2029

Table 2         Saudi Arabia Home Fitness Equipment Market Size, By Training Type, By Value, 2019–2029

Table 3         Saudi Arabia Home Fitness Equipment Market Size, By Distribution Channel, By Value, 2019–2029

Table 5         Technogym SpA Company Overview

Table 6         Technogym SpA Financial Overview

Table 7         NordicTrak Company Overview

Table 8         NordicTrak Financial Overview

Table 9         Precor Incorporated Company Overview

Table 10        Precor Incorporated Financial Overview

Table 11        Core Health & Fitness LLC Company Overview

Table 12        Core Health & Fitness LLC Financial Overview

Table 13        Sparnod General Trading LLC Company Overview

Table 14        Sparnod General Trading LLC Financial Overview

Table 15        ACTIVE FITNESS STORE LLC Company Overview

Table 16        ACTIVE FITNESS STORE LLC Financial Overview

Table 17        Nortus Fitness Company Overview

Table 18        Nortus Fitness Financial Overview

Table 19        Athleco Company Overview

Table 20        Athleco Financial Overview

Table 21        FitOne.com Company Overview

Table 22        FitOne.com Financial Overview

Table 23        Sun & Sand Sports Company Overview

Table 24        Sun & Sand Sports Financial Overview                                                                                                                 

 

Market Segmentation

By Product Type

  • Treadmills

  • Elliptical Machines

  • Stationary Cycles

  • Rowing Machines

  • Strength Training Equipment

  • Others

By Training Type

  • Cardiovascular Training Equipment

  • Strength Training Equipment

  • Others

By Distribution Channel

  • Offline

  • Online

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Frequently Asked Questions (FAQs):

Ans: Saudi Arabia Home Fitness Equipment Market is expected to grow at a CAGR of 14.2% during the forecast period between 2023 and 2029.
Ans: Major factors driving the growth of Saudi Arabia Home Fitness Equipment Market include growing awareness about maintaining a healthy lifestyle and increasing prevalence of chronic diseases.
Ans: The rowing machines segment held the highest market share in Saudi Arabia Home Fitness Equipment Market by product type.
Ans: The offline segment held a higher market share in Saudi Arabia Home Fitness Equipment Market by distribution channel.
Ans: Key players in Saudi Arabia Home Fitness Equipment Market include Technogym SpA, NordicTrak, Precor Incorporated, Core Health & Fitness LLC, Sparnod General Trading LLC, ACTIVE FITNESS STORE LLC, Nortus Fitness, Athleco, FitOne.com, and Sun & Sand Sports.