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Treadmill Ergometer Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global treadmill ergometer products market was valued at USD 656.9 million in 2022 and is expected to grow at a CAGR of 4.5% from 2023 to 2030. Treadmill ergometer products are gaining popularity as a result of the growing awareness about the importance of physical fitness and the increasing number of health-conscious people. Furthermore, the rise in the number of gyms and fitness centers and the growing trend of home workouts are driving the demand for these products.
In recent years, the demand for treadmill ergometer products has increased significantly due to the emergence of fitness and wellness applications. These applications enable users to track their fitness levels and progress, allowing them to set goals and review their progress. The growing trend of digital fitness is expected to drive the demand for treadmill ergometer products during the forecast period.
The increasing prevalence of various lifestyle diseases such as diabetes, hypertension, and obesity has further led to the increasing demand for treadmill ergometer products. Additionally, the growing popularity of running and jogging as a form of exercise is further contributing to the growth of the market.
The increasing popularity of connected or smart treadmill ergometer products is also driving the market growth. For instance, in June 2021, Matrix Fitness launched the XER Intelligent Treadmill, a connected treadmill with a premium quality design and a variety of features. The treadmill features a 15.6-inch interactive touchscreen display, a wireless connection, and Bluetooth-enabled audio system. Furthermore, the growing trend of online shopping is also augmenting market growth. The availability of a wide range of these products online is attracting customers to purchase them via e-commerce platforms. For instance, in March 2021, Johnson Health Technologies launched an online store to offer products such as treadmills, ellipticals, and stationary bikes.
Product Insights
The manual treadmill segment accounted for the largest share in 2020, and is expected to continue its dominance over the forecast period. Manual treadmills are an ideal choice for home exercise, as they offer the basic features needed for a good workout. They require no electricity and are highly affordable compared to other treadmills. Manual treadmills are popular among gym enthusiasts, as they allow them to perform high-intensity workouts. Furthermore, the growing awareness among consumers regarding the importance of physical exercise and workout is expected to drive the demand for manual treadmills over the forecast period.
The motorized treadmill segment is projected to witness the highest CAGR of 8.6% during the forecast period. Motorized treadmills are powered by an electric motor, which helps to move the belt. This type of treadmill is preferred by professional athletes and gym enthusiasts, as these can be used for high-intensity workouts. In addition, the availability of motorized treadmills with advanced features, such as Bluetooth connectivity and touchscreens, is expected to boost the demand for these products during the forecast period.
Distribution Channel Insights
The specialty stores and outlets segment accounted for the largest share of the treadmill ergometer products market in 2022. The segment is mainly driven by the rising popularity of specialty stores and outlets across the globe. These stores are mainly located in urban areas and offer a wide variety of fitness equipment and accessories. Specialty stores and outlets offer personalized services, such as fitness consultation, product comparison, and repair services, to their customers. Moreover, the growing number of fitness-conscious people and the increasing demand for innovative fitness equipment are further driving the growth of the segment.
The online segment is expected to register the highest CAGR of 8.3% during the forecast period. The growing penetration of internet and the rising number of e-commerce websites across the globe are driving the segment’s growth. Furthermore, the rising adoption of virtual fitness and the increasing trend of purchasing fitness equipment online are further propelling the segment’s growth. Moreover, the availability of attractive discounts and deals on online platforms are further driving the demand for treadmills and other fitness equipment.
Type Insights
The commercial segment accounted for the largest revenue share in the year 2022. The increasing number of health and fitness centers and gyms across the globe is a major factor driving the demand for the segment. Strict regulations on the use of treadmills in commercial settings and the presence of advanced features such as Wi-Fi, Bluetooth, and USB connectivity are driving the segment. Furthermore, the growing trend of health and fitness consciousness among the millennial population has paved the way for the growth of commercial treadmills.
The residential segment is anticipated to expand at a significant CAGR during the forecast period. The increasing adoption of treadmills in home gyms and rising disposable income are the primary drivers of the segment. The availability of low-cost treadmills in the market is further propelling the segment. The manufacturers are offering a wide range of treadmills with advanced features such as music, video, and gaming consoles, which are driving the segment. Furthermore, the availability of online channels to purchase treadmills is aiding the segment growth.
Regional Insights
Europe is projected to remain the largest market for treadmill ergometer products in the coming years. The region has witnessed a significant demand for these products in recent years on account of the rising awareness among consumers regarding their health and fitness. Moreover, the presence of several leading manufacturers in the region is also expected to support the growth of the market. For instance, in March 2021, Technogym launched its mywellness cloud platform to connect consumers with their favorite venues and coaches.
Asia Pacific is expected to witness the fastest growth in the coming years. Factors such as rising disposable incomes and the increasing popularity of fitness activities in the region are expected to drive the growth of the market. Moreover, the presence of several small and medium-sized fitness equipment manufacturers in the region is further expected to support the growth of the market. For instance, in February 2021, Matrix Fitness launched the GXR Recumbent Bike in India.
Financial Projections
In this part of the treadmill ergometer products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for the business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a treadmill ergometer products business comes from sales of the product itself. Here you will find a list with a description of each of the potential sources of income, such as sales of accessories, online sales, wholesale orders, and bulk orders.
Projecting Expenses
In this section, all the regular expenses related to keeping the treadmill ergometer business running will be described. The list of operating expenses includes Manufacturing costs, marketing expenses, wages and salaries, shipping costs, rent and utilities, and insurance policies.
Key companies & market share insights
Some of the key companies operating in the treadmill ergometer market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In October 2022, Nautilus, Inc. launched the Nautilus T618 treadmill, designed for superior performance and comfort.
– In March 2022, Johnson Health Tech Co., Ltd. launched the JTX Freedom treadmill, featuring a range of customizable options and advanced safety features.
– In June 2022, Precor launched the 9.31 treadmill with a large touchscreen display and advanced tracking features.
Some of the prominent players in the treadmill ergometer market include:
– Nautilus, Inc.
– Johnson Health Tech Co., Ltd.
– Precor
– Technogym S.p.A.
– Core Health & Fitness, LLC
– Torque Fitness
– True Fitness Technology, Inc.
– Cardio Equipment
– Hammer Strength
– Life Fitness
Global Treadmill Ergometer Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global treadmill ergometer products market based on product type, application, end-use, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Manual Treadmill Ergometer
– Motorized Treadmill Ergometer
2. Application Outlook (Revenue, USD Million, 2017 – 2030)
– Cardiovascular Training
– Strength Training
– Others
3. End-use Outlook (Revenue, USD Million, 2017 – 2030)
– Commercial
– Residential
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation?
[A]: With technology advances, product innovation in the treadmill ergometer market is expected to drive the market. The introduction of features such as intelligent speed control, adjustable incline, and built-in sensors will help differentiate products and increase the market share of various manufacturers. Furthermore, technological advancements are expected to support manufacturers to create products with better safety features, improved user experience, and enhanced performance.
[Q]: Who are the Key Players in the Treadmill Ergometer Products Market?
[A]: Key players in the global treadmill ergometer products market include Johnson Health Tech (JHT) Co., Ltd., Nautilus, Inc., SportsArt Fitness, Inc., BH Fitness, SOLE, Life Fitness, Cybex International, Inc., True Fitness Technology, Inc., and Precor, Inc.
[Q]: What Region is Expected to Witness the Highest Growth?
[A]: The Asia Pacific region is expected to witness the highest growth in the treadmill ergometer products market. The high population base, increased urbanization, and the presence of large markets like China, India, and Japan are expected to drive the growth of the market in the region.
[Q]: What are the factors driving the treadmill ergometer products market?
[A]: The growing demand for home gym equipment, the increasing number of health-conscious consumers, and the vast availability of low-cost treadmill ergometers are expected to drive the growth of the treadmill ergometer products market. Furthermore, the increasing popularity of running as an exercise and the availability of innovative products are expected to boost the market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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