The Global Treadmill Market to Inflate at a Significant CAGR of 5.22%

Introduction

The treadmill is prevalent fitness equipment among the health-conscious population. It is broadly used as a physical fitness device to supervise weight and build energy and muscular power. There are two types of treadmills; one is manual, which offers users control, and the other one is motorized or electronic. Electronic treadmills are the most popular ones as these deliver exceedingly advanced features to users. Amplification in the realization of health and fitness, a climb in the obese population, government programs to persuade a healthy lifestyle, and a rise in the health-conscious adolescent population is the most essential dynamics driving the global treadmill market growth. On the other hand, the treadmill is, by and large, a high-end product that is furthermore pricey which is a crucial deterrent aspect of the market. Defiantly, an expansion in the young, health-conscious population, superior lifestyle and rise in disposable earnings of individuals in developing countries are likely to put forward enormous opportunities for the market players.

Market Dynamics

The Growing Gym Culture and Health and Fitness Awareness to Drive the Global Treadmill Market

Gym culture has grown as more people sign up for gym memberships to maintain their fitness. Additionally, the health-conscious populations of metro and tier-2 cities have been using gyms, driving the rise of the treadmill sector. Because of technological advancements, the frequency of workout activities has also changed. Owing to an increasing number of individuals are using computerized treadmills to track their exercise, which stimulates business growth. Moreover, the development in the tendency of being thin and slim among women and muscular among men is a societal trend that encourages people to engage in exercise to reach their ideal figure. In turn, the market has expanded as a result.

In addition, the global increase in health consciousness and demand for an active, healthy lifestyle is significant market drivers for treadmills. A more active lifestyle and dietary modifications have elevated health risks. As individuals become more aware of the necessity of regular physical activity for a healthy lifestyle, treadmill sales have increased. Additionally, most senior citizens in developed and developing countries use treadmills to improve their cardiovascular health. This trend has a substantial impact on the treadmill market.

Rise in Online Retail Platform to Create Global Treadmill Market Opportunities

E-commerce, sometimes known as online retail, is a vast global industry increasing rapidly. Customers of all ages choose internet shops, especially those of generation X, generation Y, and generation Z. Because more businesses are emphasizing e-commerce, shoppers can rapidly locate the items they need on internet sites rather than in physical locations, making online shopping more convenient than traditional shopping venues. Therefore, it is projected that the expanding digital world and the increasing number of individuals who shop online will give treadmill manufacturers a potential opportunity to sell their existing and new treadmills via online platforms.

Regional Insights

North America is anticipated to command the regional market while growing at a CAGR of 3.74%. North America has the largest treadmill market in the world because obesity is so common there. Obesity has numerous negative long-term implications on health, including cardiovascular disease, stroke, type 2 diabetes, high blood pressure, cancer, and bone and joint disorders. Because of this, there has been a greater demand for weight management services in the region, contributing to the treadmill market's expansion.

The presence of high obesity rates, which has led to an increase in treadmill usage, is a significant market expansion factor. The market expansion will be aided by increased health awareness and comprehension of the benefits of treadmills, which are expected to contribute to the growth of exercise facilities.

The European region is the second-largest revenue holder with USD 1,684 million, growing at a CAGR of 4.12%. As a result of government funding for health-related activities, the increase in fitness centers at super specialty hospitals is driving the market's expansion. Europe beats other regions in terms of gym industry profit margins. Technogym, Precor, Cybex, Nautilus, Johnson Health, and Brunswick are among the most popular treadmill brands among gyms and other commercial treadmill clients.

Increasing obesity rates and a heightened awareness of health and fitness among Europeans contribute to the continent's treadmill demand. According to the WHO, 59 million Europeans were obese in 2014, which is anticipated to increase to 71.1 million by 2040. In addition, several government entities have invested in fitness centers, which is expected to increase the regional market for treadmills and other fitness equipment.

Key Highlights

• The global treadmill market had a revenue holding of USD 3,797 million in 2021. It is expected to reach USD 5,946 million by 2030, growing at a CAGR of 5.11% during the forecast period (2022-2030).
• Based on the product type, the electronic segment will likely develop at a CAGR of 5.61% and hold the largest share during the forecast period.
• Based on the end-user, the commercial section is forecasted to hold the largest share, growing at a CAGR of 6.12%.
• Based on the distribution channel, the specialty store section is predicted to hold the highest market share and grow at a CAGR of 4.11% by 2030.
• Based on regional analysis, North America is anticipated to command the regional market while growing at a CAGR of 3.74%.

Competitive Players

1. ICON Health & Fitness Inc.
2. Johnson Health Tech Co Ltd.
3. TECHNOGYM S.P.A.
4. Life Fitness Inc.
5. Nautilus Inc.
6. Landice Inc.
7. TRUE Health Tech Ltd Co.
8. TrueForm
9. Woodway
10. Nordic Track

Recent Developments

• January 2024 - Wahoo Fitness announced the launch date of the new treadmill, which is driven by smart technology. The Kickr Run Smart Treadmill will be introduced by the US's indoor and outdoor exercise provider in 2024 and worldwide by 2025. With lines of wearables, smart bikes, and other fitness equipment up until this point, this seems like a ground-breaking decision for Atlanta-based Wahoo Fitness, whose Kickr Run is a first-of-its-kind device.
• February 2024 - One notable model is the Horizon T202 Treadmill, which features a 20-inch by 60-inch running surface, Three-Zone Variable Response Cushioning to reduce joint impact, and a max speed of 12 mph with a 12% incline. It's priced at USD 799 and is a great option for those looking for an affordable treadmill with essential features.

Segmentation

1. By Product Type
   1. Manual
   2. Electronic
2. By End-use
   1. Residential
   2. Commercial
   3. Institutional
3. By Distribution Channel
   1. Franchise Store
   2. Specialty Store
   3. Online Store
   4. Others