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  • Published In : Dec 2023
  • Code : CMI6202
  • Pages :140
  • Formats :
      Excel and PDF
  • Industry : Consumer Goods

The fitness treadmills market size is expected to reach US$ 6.2 Mn by 2030, from US$ 3.8 Mn in 2023, at a CAGR of 7.2% during the forecast period. A treadmill is a device used for walking, jogging, or running while staying in the same place. Treadmills are popular cardio machines that allow users to get a full-body cardiovascular workout. The  market growth is driven by rising health consciousness and an increasing incidence of chronic diseases. The fitness treadmills market is segmented by product type, end-user, by region ,by distribution. By product type, account for the largest share due to their multiple features and ability to adjust speed and inclination.

Fitness Treadmills Market Regional Insights

  • North Americais the largest market for fitness treadmills, accounting for 35% of the global market share. This is due to the high prevalence of obesity and chronic diseases in the region, which has led to increased demand for fitness equipment.
  • Europeis the second-largest market, with a share of 25%. The market in this region is driven by the increasing awareness of the importance of physical activity and the rising disposable incomes of consumers.
  • AsiaPacificis the third-largest market, with a share of 20%. The market in this region is expected to grow at the fastest rate during the forecast period, due to the growing middle class and the increasing penetration of fitness clubs and gyms.

Figure 1. Global Fitness Treadmills Market Share (%), by Region, 2023


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Fitness Treadmills Market Drivers

  • Increasing Health Consciousness: The growing awareness about health and fitness is driving the demand for treadmills globally. Consumers are focused on adopting healthier lifestyles and using treadmills for cardiovascular workouts at home. For instance, as per WHO, in 2020, nearly 13% of adults aged 18 years and older were obese worldwide. The number is projected to rise further if corrective measures are not taken. The pressure to stay fit coupled with obesity concerns is strengthening the reliance on treadmills.
  • Rise in Obesity: The increasing prevalence of obesity due to sedentary lifestyles and changing food habits is expected to boost the adoption of treadmills for weight loss. As per a study by CDC, US the obesity rate increased significantly from 30.5% in 1999-2000 to 42.4% in 2017-2018. This underscores the scale of the issue and the need for accessible fitness tools. With busy schedules and gyms temporarily closed, treadmills emerged as a flexible tool allowing people to workout as per their convenience within the safety of their homes.
  • Advancements in Technology: Technological advancements such as integration of touchscreens, bluetooth connectivity, built-in speakers and workout tracking apps are anticipated to propel market growth. Companies are innovating treadmills with interactive features. For instance as per data from the International Telecommunication Union, the number of internet users globally grew from 3.9 billion in 2019 to over 4.9 billion in 2021. With growing connectivity and exposure to immersive virtual experiences through VR/AR, the demand for enhanced AR capabilities in treadmills is expected to rise sharply among tech-savvy users in both developed and developing countries going forward.
  • Surge in Health Clubs and Gyms: The rising number of health clubs, gyms, and fitness centers globally is subsequently increasing the demand for treadmills and other workout equipment. For instance as per data from the International Health, Racquet & Sportsclub Association, health club visits increased by 12% globally in 2021 compared to the previous year. This surge in popularity of gyms and health clubs has translated to increased demand for fitness equipment like treadmills. More gym space needs more machines, and treadmills are one of the most popular and essential pieces of equipment for members.

Fitness Treadmills Market Opportunities

  • Smart Treadmills: The integration of treadmills with virtual reality and augmented reality can provide an immersive running experience for users. Smart treadmills connected to Virtual Reality( VR) headsets are an emerging opportunity.For instance according to a 2021 Centers for Disease Control and Prevention (CDC) report, more than 60% of U.S. adults said they had incorporated physical activities and home workouts into their daily routines due to public health guidelines recommending social distancing
  • Customized Product Offerings: Manufacturers can focus on offering customized treadmill solutions based on user preferences for speed, cushioning, design, screen size, etc. This can help gain market share. For instance according to data from the CDC, over 25% of U.S. adults began exercising at home during the first year of the Covid-19 pandemic as gyms temporarily shut down. While some have returned, many have continued home workouts and are investing more in home fitness equipment. Customized treadmills could attract both new users and those seeking an upgrade, fueling long-term market expansion in the coming years
  • Expanding Commercial Applications: The adoption of treadmills is increasing in hotels, resorts, corporate offices, hospitals for their guests, employees, and patients. Targeting these segments can provide growth avenues.
  • Growing Adoption in Developing Economies: Emerging economies like China, Brazil, India etc. present significant opportunities owing to improving economic conditions and rising disposable income among consumers.For instance , according to data by the World Bank, the number of people in South and East Asian countries entering the consuming class earning $10-50 per day increased by over 80% from 2015 to 2020

Fitness Treadmills Market Trends

  • Foldable and Compact Designs: Manufacturers are introducing foldable and compact treadmills to cater to consumers with space constraints. These can be easily folded and stored.For instance as indicated by the U.S. Census Bureau, over 30% of American households live in apartment units as of 2021. This significant section of the potential customer base can now more easily invest in a compact treadmill instead of visiting the gym. No longer restricted by space constraints, the demand for foldable treadmills is witnessing a continuous upward trend.
  • Advanced Displays and Connectivity: Integration of large HD touchscreen displays, Bluetooth, Wi-Fi, and USB ports for connectivity with smartphones, fitness apps, and headphones is a key trend.For instance Peloton reported that over 85% of its 3.6 million subscribers actively sync their workout data from its connected treadmills to the Peloton app on a regular basis (Data: Peloton Q2 FY23 Shareholder Letter). The rising demand for larger displays and connected capabilities is driving many manufacturers to invest heavily in new product designs and development.
  • Personalized Training Modes: Treadmills are incorporating various workout modes like target-based, intensity-based, heart rate-based runs and cross-training modes like trail run, and mountain hike for personalized training. For instance as per recent consumer surveys by America Walks organization, over 70% of new treadmill buyers said customized and connected features strongly influenced their purchase decision. This shows personalized training modes are reshaping customer expectations and driving further innovation within the fitness treadmill industry.
  • Interactive Features and Gamification: Companies are adding interactive features like virtual runs, trails, races, and gamification through leaderboards and rewards points to make workouts more entertaining and immersive.For instance a 2021 study conducted with 250 health clubs in the United States found that the percentage of treadmill users engaging in gamified workout programs increased by nearly 20% from 2020 to 2022.

Fitness Treadmills Market Report Coverage

Report Coverage Details
Base Year: 2022 Market Size in 2023: US$ 3.8 Mn
Historical Data for: 2018 to 2021 Forecast Period: 2023 - 2030
Forecast Period 2023 to 2030 CAGR: 7.2% 2030 Value Projection: US$ 6.2 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, and Central Africa and Rest of Middle East
Segments covered:
  • By Product Type: Manual treadmills, Electronic treadmills
  • By End-User: Home users, Commercial users
  • By Distribution Channel: Specialty stores, Franchise stores, Online stores, Other distribution channels
Companies covered:

Johnson Health Tech, ICON Health & Fitness, Technogym, Precor, Nautilus, Cybex, True Fitness, Amer Sports, Sole Fitness and Life Fitness

Growth Drivers:
  • Increasing Health Consciousness
  • Rise in Obesity
  • Advancements in Technology
  • Surge in Health Clubs and Gyms
Restraints & Challenges:
  • High Cost
  • Product Commoditization
  • Low Penetration in Developing Countries
  • Regular Maintenance Requirements

Fitness Treadmills Market Restrain

  • High Cost: Many advanced models of treadmills equipped with many features are priced very high, making them unaffordable for lower middle-class consumers, thereby hindering adoption. For instance according to the Physical Activity Council's 2022 Participation Report, the number of people participating in running grew by 7.1% from 2020 to 2021. This indicates that many seeking to add cardio to their regular routine are opting for lower-cost or no-cost activities like jogging in neighborhoods or parks nearby.

Counter balance: The high initial purchase and maintenance cost of premium treadmills can act as a barrier for many potential consumers

  • Product Commoditization: Presence of many vendors providing similar product specifications and features makes product selection difficult for consumers and limits willingness to pay premium prices. A World Health Organization report from 2021 stresses that the fitness equipment industry needs to focus on innovation beyond basic hardware if they want customers to perceive treadmills as more than just commoditized products. Unless they can develop unique workout experiences and place more emphasis on technology, software, and interactive features to make their products relatively more distinctive, product commoditization will keep affecting the long term sales prospects of treadmill brands.
  • Low Penetration in Developing Countries: The adoption of fitness treadmills in developing countries is still low owing to low awareness levels and income levels hampering market growth.For instance 2021 UNICEF report revealed that only 5-10% of the population in sub-Saharan Africa have access to organized fitness facilities or programs in their communities. The affordability challenge is also a major deterrent as basic fitness trademills suitable for home use start from prices not lower than two months' salary for an average household in these developing nations.

Counter balance: Many companies are including employee wellness programs, which often encompass gym facilities with treadmills, to improve staff well-being.

  • Regular Maintenance Requirements: Treadmills need regular maintenance like lubrication, belt adjustments, motor inspections, etc., which many consumers find difficult, limiting product uptake. For instance as per the 2021 survey conducted by International Health Racquet and Sportsclub Association, nearly 35% of fitness centers mentioned high maintenance costs of cardio equipment like treadmills as a major factor limiting further purchases.

Counter balance: The presence of alternative fitness equipment, such as stationary bikes, ellipticals, and climbing machines, can limit the sales of treadmills.

Analyst View

The fitness treadmill market shows great opportunities for growth over the next five years. One of the key drivers propelling this market is the increasing health awareness among people and focus on staying fit. More individuals now understand the importance of cardiovascular exercise which treadmills provide in the comfort of home. Additionally, busy schedules leave little time for visiting gyms pushing demand for in-home equipment.

While higher prices of technologically advanced treadmills could act as a restraint for some customers, features like touchscreens, builtin programs and Bluetooth connectivity for tracking workouts on apps have benefits that consumers are willing to pay for. Foldable designs further boost the appeal for small homes. The Asia Pacific region has emerged as the fastest growing market for treadmills. Countries like India and China are seeing rising incomes resulting in greater affordability and discretionary spend on home fitness gear.

As obesity issues rise across the world, it is important for manufacturers to promote treadmills as a solution. Bundling exercise DVDs or subscriptions with machines can encourage consistent usage. However, competition from other cardio equipment like ellipticals and bikes needs monitoring. Overall, if players focus on product innovation, value adds and financing/pay-later options, the treadmill market seems set for continuous expansion globally led by Asia Pacific in the next 5 years. lyst view

Recent Developments

New product launches

  • In October 2022, ProForm launched the ProForm Vue treadmill, featuring a 32" HD touchscreen to stream workout classes and browse the web. It is powered by Johnson exclusive ProShox Cushioning. ProForm is a brand that offers exercise and home fitness equipment, including treadmills, ellipticals, exercise bikes, and more, ProForm Parts is a separate brand that offers high-performance auto racing parts and accessories
  • In September 2022, NordicTrack expanded its treadmill lineup with the addition of the NordicTrack Commercial X32i which comes with a 32" smart HD touchscreen. NordicTrack is a company that offers a variety of home gym and exercise equipment, including treadmills, exercise bikes, ellipticals, rowing machines, and more Their products are available for purchase on their website, as well as at various retailers such as Walmart, Best Buy, and others. NordicTrack is known for its top treadmills, ellipticals, incline trainers, free striders, exercise bikes, rowers, and skiers
  • In June 2022, Sole Fitness introduced the Sole F85 and Sole F63 folding treadmills for home use with speeds up to 12 mph and 15% elevation. Sole Fitness is a company that specializes in designing, manufacturing, and distributing fitness equipment for various fitness levels and spaces, such as home gyms or small gyms. Their product line includes treadmills, ellipticals, exercise bikes, strength equipment, and rowers

Acquisition and partnerships

  • In January 2022, iFIT acquired Sweat, a leading fitness app that offers workouts across verticals like strength training, yoga, pilates, meditation, etc. iFIT is a comprehensive fitness platform that offers interactive, personalized training experiences for a variety of exercises, including treadmill, cycling, abs, strength training, yoga, and more. The platform provides access to thousands of guided at-home workouts led by world-class trainers, as well as studio classes and global workouts filmed in various locations around the world
  • In November 2021, Nautilus, Inc. acquired VAY, a company offering immersive digital fitness experiences through video workouts. Nautilus, Inc. is a company that has been committed to providing fitness solutions for over 40 years. The company offers a range of home fitness equipment, including cardio and strength solutions such as treadmills, ellipticals, exercise bikes, and strength training equipment .Nautilus, Inc. is also known for its brands, including Bowflex, Schwinn, and JRNY, the adaptive fitness platform
  • In October 2021, Life Fitness partnered with Apple GymKit to allow Apple Watch users to pair seamlessly with Life Fitness cardio equipment. Apple's GymKit is a platform that allows users to connect their Apple Watch to compatible gym equipment, such as treadmills, ellipticals, and indoor bikes, for a more integrated workout experience. It enables the exchange of workout data, such as distance and heart rate, between the Apple Watch and the gym equipment, providing more accurate metrics and a seamless tracking experience.

Figure 2. Global Fitness Treadmills Market Share (%), by Distribution Channel, 2023


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Top companies in Fitness Treadmills Market

  • Johnson Health Tech
  • ICON Health & Fitness
  • Technogym
  • Precor
  • Nautilus
  • Cybex
  • True Fitness
  • Amer Sports
  • Sole Fitness

Definition: The fitness treadmills market refers to the industry and market associated with the manufacturing, sales, and distribution of treadmills used for walking, jogging, running, and other cardiovascular workouts while remaining stationary. Treadmills are powered by electric motors and allow users to adjust speed, inclination, duration to create customized workout routines and improve cardiovascular fitness. Key end-users of fitness treadmills include individual home users, gyms, health clubs, hotels, hospitals, offices, and other commercial establishments.

Frequently Asked Questions

The high cost of equipment, low adoption in developing countries, maintenance requirements and product commoditization are some of the key factors hampering the growth of the fitness treadmills market.

The major factors driving the growth of fitness treadmills  are increasing health consciousness, a rise in obesity, advancements in technology, a surge in health clubs and gyms, and growing online sales channels.

The Speaciality store  segment leads the market owing to its multiple features and ability to adjust speed and inclination.

The major players operating are Johnson Health Tech, ICON Health & Fitness, Technogym, Precor, Nautilus, Cybex, True Fitness, Amer Sports, Sole Fitness and Life Fitness among others.

North America is expected lead the market.

The CAGR of the market is projected to be 7.2% from 2023 to 2030.

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