The Fitness Treadmills Market size is expected to reach US$ 6.20 billion by 2030, from US$ 3.76 billion in 2023, at a CAGR of 7.4% 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 growth is driven by rising health consciousness and increasing incidence of chronic diseases. The Fitness Treadmills Market is segmented by product type, end-user, drive type, cushioning, sales channel and region. By product type, motorized treadmills account for the largest share due to their multiple features and ability to adjust speed and inclination.
Fitness Treadmills Market Regional Insights
- North America is 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.
- Europe is 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.
- Asia-Pacific is 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
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.
- 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. According to WHO, 39% of adults aged 18 years and over were overweight in 2016.
- 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.
- 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. According to IHRSA, there were over 210,000 health clubs worldwide in 2018.
Fitness Treadmills Market Opportunities
- Smart Treadmills: The integration of treadmills with virtual reality and augmented reality can provide an immersive running experience to users. Smart treadmills connected to VR headsets are an emerging opportunity.
- 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.
- 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.
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.
- 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.
- 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, mountain hike for personalized training.
- Interactive Features and Gamification: Companies are adding interactive features like virtual runs, trails, races and gamification through leaderboards, rewards points to make workouts more entertaining and immersive.
Fitness Treadmills Market Report Coverage
| Report Coverage |
Details |
| Base Year: |
2022 |
Market Size in 2023: |
US$ 3.76 Bn |
| Historical Data for: |
2018 to 2021 |
Forecast Period: |
2023 - 2030 |
| Forecast Period 2023 to 2030 CAGR: |
7.4% |
2030 Value Projection: |
US$ 6.20 Bn |
| 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.
- 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.
- 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.
- Regular Maintenance Requirements: Treadmills need regular maintenance like lubrication, belt adjustments, motor inspections etc. which many consumers find difficult limiting product uptake.
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.
- In September 2022, NordicTrack expanded its treadmill lineup with the addition of the NordicTrack Commercial X32i which comes with a 32" smart HD touchscreen.
- 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.
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.
- In November 2021, Nautilus, Inc. acquired VAY, a company offering immersive digital fitness experiences through video workouts.
- In October 2021, Life Fitness partnered with Apple GymKit to allow Apple Watch users to pair seamlessly with Life Fitness cardio equipment.
Figure 2. Global Fitness Treadmills Market Share (%), By Distribution Channel, 2023
Top companies in Fitness Treadmills Market
- Johnson Health Tech
- ICON Health & Fitness
- Technogym
- Precor
- Nautilus
- Cybex
- True Fitness
- Amer Sports
- Sole Fitness
- Woodway
- Life Fitness
- Landice
- Star Trac
- Bodyguard
- Peloton
- Dyaco
- Shuhua Sports
- Yijian
- Strength Master
- Green Fields
*Definition: The Fitness Treadmills Market refers to the industry and market associated with 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.
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