by Fitness treadmills are motorized machines that enable walking or running while staying in the same place. They help increase cardiovascular endurance and burn calories. The growing focus on health and fitness around the world has led to rising demand for treadmills.
The global Fitness Treadmills Market is estimated to be valued at US$ 3.76 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising health consciousness has been a key driver accelerating growth in the fitness treadmills market. With increasing prevalence of lifestyle diseases and obesity levels, people are becoming more invested in regular exercise and physical activity. Fitness treadmills provide a convenient way to workout at home and are especially popular among busy consumers who have little time. The convenience and versatility of treadmills has ensured strong and consistent demand over the years. Manufacturers are also focusing on innovations to make treadmills more technologically advanced with features like touchscreens, Bluetooth connectivity and apps. This is appealing to health-conscious millennials and helping spur further sales growth.
Segment Analysis
The residential segment dominates the market, accounting for over 60% share in 2020. This is because treadmills are most commonly used at homes for casual running and workouts. They provide flexibility to users for exercising at their own pace and convenience. The commercial segment includes gyms, fitness centers, and sports clubs where treadmills are extensively used for aerobic exercises and weight management regimens.
Key Takeaways
The Global Fitness Treadmills Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2024 is projected to reach US$ 3.76 billion, indicating significant prospects.
Regional analysis: North America dominates the global market with over 35% share currently. This can be attributed to increasing health consciousness and busy lifestyles in countries like the United States that is driving demand for home fitness equipment like treadmills. Asia Pacific is expected to witness the fastest growth during the forecast period with China and India emerging as highly lucrative markets. Rising incomes and health awareness is boosting purchases of premium treadmills in the region.
Key players operating in the fitness treadmills market are Nestlé, Nutricia, Unilever, Bionova, BASF SE, Abbott, Arkopharma Laboratories, GSK plc., ADM (Archer Daniels Midland Company), DuPont, Kellogg’s Company, Arla Foods amba, DSM, Quantum Naturals Ltd., Adcock Ingram, Ascendis Health Limited, iNova Pharmaceuticals, Vital Health Foods, Jamjoom Pharma, Creso Pharma, and ConnOils LLC.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
