BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Saudi Arabia home fitness equipment market to grow at a significant CAGR of 14.2% during the forecast period between 2023 and 2029. The industry experienced tremendous expansion after the COVID-19 pandemic when gyms were shut down and public awareness of health issues soared. A significant element fueling the market’s expansion is the region’s wealthy customer base and the severe cultural values that prevent a certain segment of the population from using public gyms. To meet this need, home fitness equipment producers are introducing novel items, which is predicted to fuel the expansion of the Saudi Arabian home fitness equipment market overall throughout the forecast period.
Saudi Arabia Home Fitness Equipment Market – Overview
Equipment used at home for physical activity to improve the body’s conditioning or strength is referred to as home exercise/fitness equipment. With the increasing health consciousness among people, they are increasingly creating a workout space in their homes. Equipment like smart bikes, rowing machines, home exercise bikes, medicine balls, and treadmills are already taking up so much space in the homes of Saudis. Home workout is gaining huge popularity in Saudi Arabia because of their many benefits such as it saves time and money by saving commuting time and gym subscription fees, providing privacy, offering flexibility, etc.
Saudi Arabia Home Fitness Equipment Market – By Distribution Channel
Based on distribution type, the 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 allow 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 expected to witness the biggest growth owing to the COVID–19 pandemic which led to the closure of offline stores.
Impact of COVID-19 on Saudi Arabia Home Fitness Equipment Market
The COVID-19 pandemic outbreak provided significant growth opportunities to 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.
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.
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