by The Fitness Treadmills Market is estimated to be valued at US$ 3.76 Bn or US$ 3.76 billion in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Fitness treadmills are widely used cardio machines that help in burning calories and staying fit. They come equipped with features like programmable settings, built-in music players, Bluetooth connectivity and apps to track fitness progress. Advanced treadmills also have incline options to make running more challenging. With digitization, smart treadmills are gaining popularity as they can be controlled via smartphones and tablets. This allows users to sync their workout routines, select various training programs and monitor metrics like speed, distance, time and calories burned. Fitness treadmills are useful for both home and commercial use in gyms.
Market Dynamics:
Growing health and fitness awareness among people coupled with busy lifestyles has boosted the demand for home fitness equipment like treadmills. This allows users to workout as per their convenience without visiting gyms. Furthermore, increasing obesity rates due to sedentary jobs and unhealthy eating habits is prompting people to adopt exercise routines using treadmills and other workout machines. Launch of technically advanced smart treadmills by leading manufacturers with interactive touchscreens and virtual coaching is another key factor driving their adoption. Growing urbanization in developing nations is also fueling the commercial demand for treadmills from gyms and health clubs.
Segment Analysis
The global fitness treadmills market is dominated by the commercial segment which accounts for nearly 60% of the total market share. Commercial treadmills are majorly used in health clubs, gyms and fitness centers. This is because commercial treadmills are made to withstand heavy usage and continuous operations throughout the day. They come equipped with enhanced durability and higher load bearing capacity compared to domestic treadmills.
PEST Analysis
Political: Governments across various countries are promoting healthy lifestyles and fitness among citizens through various initiatives which is positively impacting the market.
Economic: Rising income levels and growing health awareness is driving more individuals to join gyms and fitness centers and invest in high-end treadmills for home use which is fueling market revenue.
Social: Changing work culture and busy lifestyles have increased stress levels pushing people to adopt fitness routines for reducing weight and staying healthy which is propelling the demand for treadmills.
Technological: Leading manufacturers are focusing on integrating advanced tech like touchscreens, integrated devices and apps for enhanced user experience in treadmills.
Key Takeaways
The global Fitness Treadmills Market Growth is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing health consciousness among people. The market was valued at US$ 3.76 Bn in 2023 and is projected to reach valuation of US$ 6.53 Bn by 2030.
North America dominated the fitness treadmills market with over 30% share in 2023 owing to high gym memberships and growing obesity rates in the region pushing demand. Asia Pacific is expected to be the fastest growing market due to increasing investments in home gyms amid growing health awareness in emerging countries of the region.
Key players operating in the fitness treadmills market are Johnson Health Tech, ICON Health & Fitness, Technogym, Precor, Nautilus, Cybex, True Fitness, Amer Sports, Sole Fitness and Life Fitness. The players are focusing on product development strategies like integrating virtual coaching and enhanced speed and incline options to gain higher market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
