Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Treadmill Ergometer market.
Trusted Business Insights presents an updated and Latest Study on Treadmill Ergometer Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Treadmill Ergometer market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Industry Insights, Market Size, CAGR, High-Level Analysis: Treadmill Ergometer Market
The global treadmill ergometer market size was valued at USD 2.62 billion in 2018 and is expected to expand at a CAGR of 5.2% during the forecast period. Rising popularity of electric gym equipment pertaining to increased adoption of sports and fitness activities is anticipated to drive the growth. Increasing demand for real-time tracking of fitness and athletic performance for evaluating health metrics is expected to further fuel the product demand as these equipment provide personalized feedback. In addition, rising incidence of cardiovascular diseases among the younger population has resulted in increased adoption of cardio exercise, which is expected to boost the demand for treadmill ergometers in near future.
Rising demand for traditional equipment integrated with power driven technology to boost performance and convenience is anticipated to positively fuel the demand for treadmill ergometers in fitness industry. Increasing adoption of wellness and fitness as the way of life is projected to contribute to the demand for smart equipment and wearables. These products help effectively measure the ground reaction forces through numerous successive steps and showcase performance growth of each individual. In addition, increasing innovation and product developments is expected to further fuel the market growth. For instance, stair-treadmills are increasingly being adopted for their cardiovascular benefits. It is also used as a common training procedure in physiotherapy as well as sports science.
Rising prevalence of various diseases and awareness regarding the risks associated with them is projected to contribute to the rising awareness regarding healthy living and exercising. Increasing incidence of cardiovascular diseases among young adults is expected to drive the demand for cardio exercise equipment such as treadmill, which in turn is expected to drive the treadmill ergometer market. According to the American Heart Association (AHA), in 2016, Coronary Heart Disease (CHD) was the leading cause of death in U.S. with 43.2% deaths caused by cardiovascular diseases. Moreover, the region also recorded 16.9% cases of stroke and 9.3% cases of heart failures during the same year.
Treadmill comprises the most common ergometer in the pediatric exercise equipment owing to the familiarity of children with walking and running. Therefore, it is one of the most popular equipment for home exercise for an efficient aerobic workout. Moreover, increasing adoption of smart equipment in gyms and sports clubs is projected to drive the demand for integrated technology in fitness equipment. Introduction of connected gym or smart gym equipment that allows users to connect to the internet, while storing and collecting data on centralized servers is projected to bode well for the growth of the market. These connected treadmills comprise numerous functions and programs to gather personalized information of an individual to monitor their progress through regular cardio tests. For instance, iFit provides an internet connected treadmill comprising different workout programs according to requirements with additional features such as tracking stats, meal plans, and other fitness support.
End User Insights
Commercial segment held the largest market share of more than 85% in 2018. Wide application of treadmill ergometers in commercial structures such as sports clubs, fitness clubs, gyms, offices, and medical centers among others is projected to bode well for the growth. Moreover, rise in construction of these commercial spaces is likely to positively affect the demand for treadmill ergometers in near future. According to the International Health, Racquet & Sportsclub Association (IHRSA), in 2018, around 20% of adults in U.S. had membership in a fitness club. According to the United Health Foundation’s annual report, over 30% of U.S. adults were suffering from obesity in 2018. Increasing awareness regarding the importance of fitness is expected to drive the demand for commercial health spaces such as gyms and sports and fitness centers.
Residential segment is projected to foresee a CAGR of 3.6% from 2019 to 2025. Increasing adoption of treadmill ergometers dude to high work pressure and hectic lifestyle of consumers is expected to drive the segment growth. Rising prevalence of CHD is expected to encourage consumers to adopt regular exercises for cardio training. However, hectic work schedule and busy lifestyle does not allow them to invest ample time in fitness clubs or gyms. Thus, residential category is projected to witness substantial growth in the forthcoming years. Manufacturers also introduce new products in the market for the convenience for consumers. For instance, in 2019, BODYCRAFT introduced TD250 Treadmill, which incorporates folding feature and can be easily converted to a treaddesk.
Application Insights of Treadmill Ergometer Market
Fitness club held the largest market share of more than 82% in 2018. Rising adoption of fitness and sports as a part of routine physical activity is expected to drive the growth of the segment. Rising consumer preference for sports and fitness training clubs is anticipated to drive the demand for treadmill ergometers. Manufacturers focus on innovation with different technological features to attract more consumers. For instance, in 2019, SportsArt launched the first sustainable fitness equipment, Verde G690. This eco-treadmill can produce 200 watt-hours of utility grade electricity by harnessing power through exercises such as walking, jogging, and running.
Medical center is expected to witness a substantial CAGR of 5.0% from 2019 to 2025. Rising cases of death and trauma caused by cardiovascular diseases, high blood pressure levels, and other heart ailments is projected to encourage hospitals and medical centers to include cardio training for patients suffering from these health conditions. Treadmill is the most important fitness equipment in cardio training and thus, is expected to witness a significant rise in demand from medical centers. In line with the increasing prominence for pediatric exercise, manufacturers focus on new product development to introduce new features and advanced technologies. For instance, in 2019, TrueForm Runner in partnership with NABOSO TECHNOLOGY launched a non-motorized treadmill called Naboso TrueForm Runner for rehabilitation and performance. The product includes Naboso Technology textured material that helps optimize foot and neuro activation while walking or running.
Regional Insights of Treadmill Ergometer Market
North America was the largest market, accounting for about 41.0% of global share in 2018. Increased product penetration with the presence of mass brands in the region is projected to bode well for the regional demand for treadmill ergometer through online as well as offline channels. The region witnesses the highest inclination toward fitness and healthy lifestyle and thus, consumers are increasingly investing in convenient fitness equipment. Availability of a wide assortment of products to monitor the physical activity is expected to fuel the regional market growth. U.S. dominates the global market with high consumer willingness to spend on fitness and health rehabilitation.
Asia Pacific is expected to witness the fastest CAGR over the forecast period on account of rapid rise in adoption of fitness activities. Rapid rise of the regional health and wellness industry is expected to broaden the scope for the number of new fitness clubs and medical rehabilitation centers. This factor is expected to create demand for treadmill ergometer in near future. Rise in disposable income coupled with consumer willingness to invest in health and fitness equipment is projected to further fuel the regional growth.
Market Share Insights of Treadmill Ergometer Market
The global market is highly competitive in nature with the presence of major players such as BODYCRAFT; ergoline GmbH; h/p/cosmos sports & medical GmbH; Life Fitness; TECHNOGYM S.p.A; ICON Health & Fitness; Amer Sports; Johnson Fitness & Wellness; Cybex International, Inc.; and Enraf-Nonius. The leading players focus on product innovation to gain a greater market share. New product launches help attract new consumers. For instance, in 2018, Xiaomi Corporation launched its first foldable treadmill called Walking Pad, which is a smart mini-treadmill with a compact design and sleek model for small spaced apartments.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Treadmill Ergometer Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global treadmill ergometer market report on the basis of application, end user and region:
Application Outlook (Revenue, USD Million, 2019 – 2030)
End User Outlook (Revenue, USD Million, 2019 – 2030)
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