BANGALORE, India, Aug. 6, 2021 /PRNewswire/ -- Treadmill Market is Segmented by Product Type (Manual and Electronic), End Use (Residential, Institutional, and Commercial), Distribution Channel (Specialty Store, Franchise Store, Online Store, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030. This report is published on Valuates Reports under Fitness Category.
The global treadmill market size was valued at USD 3,284.8 Million in 2020 and is projected to reach USD 5,932.0 Million by 2030, registering a CAGR of 5.1%.
The major factor driving the growth of treadmill market size are:
Increasing consummate awareness about leading a healthy lifestyle coupled with a hectic urban lifestyle and growing disposable income are expected to drive the treadmill market. People especially in the urban region prefer a treadmill inside their house to do their everyday walking.
Furthermore, the recent COVID-19 outbreak has increased the treadmill sale for home use as lockdowns were imposed in several countries and movement was restricted.
The treadmill industry is concentrating on treadmills that have automated technology built-in. To be competitive in the industry, treadmill manufacturers are developing IoT (Internet of Things) infused new revolutionary electronic treadmills. This in turn is expected to contribute to the treadmill market's growth.
The rise in the number of health clubs and gyms across the globe is expected to further augment the treadmill market size.
TRENDS INFLUENCING THE GROWTH OF TREADMILL MARKET SIZE
Growing awareness about maintaining a healthy lifestyle is expected to drive the growth of the treadmill market. Regular aerobic exercise, such as a treadmill workout regimen, improves blood circulation in the body and helps to lower blood pressure by strengthening the heart. Aerobic exercise also helps to protect against blood vessel disease and heart disease by lowering low-density lipoprotein (bad cholesterol) and raising levels of high-density lipoprotein (good cholesterol). Furthermore, the recent COVID-19 outbreak has increased the treadmill sale for home use as lockdowns were imposed in several countries and movement was restricted.
The demand for treadmills in the fitness industry is expected to grow as more traditional equipment is merged with IoT technologies to improve performance and convenience. To be competitive in the industry, treadmill manufacturers are developing IoT (Internet of Things) infused with new revolutionary electronic treadmills and combining new functions. Such factors contribute to the treadmill market's growth in terms of value sales.
Based on type, the Electronic segment dominates the global treadmill market and is expected to retain its dominance throughout the forecast period. This is due to the advanced features provided by electronic treadmills, such as the ability to track running pace, heart rate, and distance traveled.
Based on application, the commercial treadmill market held the largest part of the global treadmill market and is predicted to grow at the quickest rate throughout the treadmill market forecast period. This is due to an increase in the number of health clubs and gyms around the world.
Based on Distribution the specialty store segment dominates the global treadmill market and is expected to retain its dominance throughout the forecast period. This is because these stores give excellent customer service, precise product specifications, and expert advice. Furthermore, buyers want to see and assess things before making a purchase, boosting treadmill retail sales through specialty boutiques.
North America dominated the treadmill market due to factors such as consumers in the region embracing a healthier lifestyle, resulting in an increase in the number of fitness freaks, which promotes treadmill demand in the region.
- Home Fitness Equipment Market is segmented by Type Cardiovascular Training Equipment, Strength Training Equipment, by Application Health Clubs/Gyms, Home Consumer, Health Users and by various regions.
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