The global treadmill market size was valued at $3,284.8 million in 2020, and is projected to reach $5,932.0 million by 2030, registering a CAGR of 5.1%.
A treadmill is a type of fitness equipment, which is used for running or walking purpose to maintain fitness. It offers a moving platform along with a wide conveyor belt, which is driven by a flywheel or electric wheel. The rate at which the belt moves is the rate of running or walking, which also helps in controlling speed and measuring it. There are two types of treadmills available in the market, namely, manual treadmill and electronic treadmill. Moreover, according to the Sports & Fitness Industry Association, treadmills is the largest selling exercise equipment category being well ahead of others. Owing to which the treadmill industry counts for hundreds of manufacturers globally.
The treadmill industry is focusing toward treadmillembedded with automated technology. Thus, treadmillmanufacturers are launching IoT (Internet of Things) infused with new innovative electronic treadmill and are incorporating new features to remain competitive in the market. Thus, such factors contribute in growth of the treadmill market, in terms of value sales.
Covid-19 Impact Analysis
The outbreak of the COVID-19 pandemic has shown a positive impact on the market.
During the COVID-19 outbreak, consumers have become more concerned to maintain their health and fitness. This, in turn, has increased demand for treadmill to be used at home, which positively impacted the market growth, globally during the global health crisis.
The global treadmill market segments are categorized into product type, end use, distribution channel, and region. By product type, it is classified into manual and electronic. By end use, it is divided into residential, institutional, andcommercial. On the basis of distribution channel, the market is segregated intospecialty store, franchise store, online store, and others. Region wise, themarket is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia and rest of Europe), Asia-Pacific (China, India, Australia & New Zealand, Japan, South Korea, ASEAN, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Turkey and Rest of LAMEA).
By Product Type
The Electronic segment dominates the global treadmill market and is expected to retain its dominance throughout the forecast period.
By product type, the electronic segment accounted for the highest treadmill market share in 2020 and is expected to be the fastest growing segment during the forecast period. This is attributable to advance features offered by electronic treadmill to users such as tracking running speed, heart rate, and distance covered.
By End Use
The Commercial segment dominates the global treadmill market and is expected to retain its dominance throughout the forecast period.
By end use, the market is divided into residential, institutional, and commercial. In 2020, the commercialsegment accounted for the highest treadmill market share in the global treadmillmarket and is also expected to be the fastest growing segment during the treadmill market forecast period.This is attributed to rise in number of health clubs and gyms across the globe.
By Distribution Channel
The Specialty store segment dominates the global treadmill market and is expected to retain its dominance throughout the forecast period.
By distribution channel, the market is divided into specialty store, franchise store, online store, and others. In 2020, the specialty store segmentaccounted for the highest market share in the global treadmillmarket.This is attributed the fact thatthese stores provide high-quality service and detailed product specification & expert guidance to customers. In addition,consumers usually prefer to analyze and evaluate products before purchase, thereby boosting retail sales of treadmill through specialty stores. However online store is expected to be the fastest growing segment during the forecast period in terms of value sales. This is attributable to the fact that online platforms or e-commerce are becoming a popular medium for the purchase of fitness equipment, electronic devices, and others among the customers. This is due to easy availability of treadmill and the benefits provided by it such as the information about the health benefits offered by the product & directions to use, time-saving feature, and the facility of home delivery to the customers.
The North America segment dominates the global treadmill market and is expected to retain its dominance throughout the forecast period.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest market share in 2020. The North America treadmill market dominated the use of treadmill, owing to factors that consumer in the region are increasingly adopting healthy lifestyle, which is leading to increasing number of fitness freaks, which, in turn,drives demand for treadmills in this region.
Key players operating in the global treadmill market focus on prominent strategies to overcome competition and maintain as well as improve their share worldwide. Some of the major players in the global industry analyzed in this report includeIcon Health & Fitness, Technogym, Johnson Health Tech, Nautilus, Inc., True Fitness Technology, Inc., Impulse (Qingdao) Health Tech Co., Ltd.,TrueForm, Woodway, Life Fitness Inc.,and Landice, Inc.
Key Benefits for Stakeholders:
- This report provides a quantitative analysis of the current treadmill market trends, estimations, and dynamics of the global treadmill market for the period of 2020–2030 to identify the prevailing market opportunities.
- The key countries in four majorregions have been mapped based on their market share.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region have been mapped according to their revenue contribution to the global industry.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of market players.
- The report includes both regional as well as global the treadmill market analysis, key players, market segments, application areas, and treadmill market growth strategies.
Key Market Segments
By Product type
By End Use
By Distribution Channel
- Specialty Store
- Franchise Store
- Online store
- North America
- Rest of Europe
- Australia and New Zealand
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Treadmill Market Report Highlights
By PRODUCT TYPE
By END USE
By DISTRIBUTION CHANNEL
Key Market Players
TRUE FITNESS TECHNOLOGY, INC., IMPULSE (QINGDAO) HEALTH TECH LTD. CO., LIFE FITNESS, INC., TECHNOGYM S.P.A., JOHNSON HEALTH TECH CO., LTD., ICON HEALTH & FITNESS, INC., WOODWAY USA, INC., TRUEFORM RUNNER, INC., NAUTILUS, INC., LANDICE, INC.
Key market players operating in the treadmill market have adopted key developmental strategies such as product launch to fuel demand for treadmill in the market, in terms of value sales. In addition, they have also emphasized on continuous innovations in their products to maintain a strong foothold in the market and to boost the treadmill demand globally. In addition, to cater to the changing trends for physical activity and exercises across the globe, the fitness equipment industry is continuously developing innovative treadmill for both home use and commercial gym environments.
According to the key market players, adoption of IoT and advanced technologies in treadmill enables to offer advance functions such as tracking and monitoring speed and inclining settings. All these benefits offered by treadmill promotes their use among consumers. Moreover, the trend to maintain fitness has increased demand for treadmill in the market. This,in turn, has driven the market, in terms of value sales.
However, high price of electronic treadmill has a major share in the treadmill market, which is projected to hamper growth of the treadmill market during the forecast period.