Connected Fitness Is Fastest Growing Segment Fueling The Growth of Fitness Treadmills Market
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 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Fitness treadmills refer to machines used for walking or running while staying in the same place. They are widely used in homes as well as fitness centers and gyms as they can help in weight management and improving cardiovascular health. The connected features in modern treadmills allow monitoring fitness metrics and downloading workout programs remotely.
Market key trends:
One of the major trends fueling the growth of the fitness treadmills market is the increasing popularity of connected treadmills. Connected treadmills are equipped with in-built technologies that allow users to sync their workout data with various fitness apps on their smartphones. This provides more personalized and interactive workouts. Many modern treadmills feature touchscreens and integrated devices that allow downloading workout programs from the internet. The connected features record metrics like calories burned, distance covered, pace and heart rate to offer a more immersive exercise experience to users.
Segment Analysis
The global fitness treadmills market is segmented into manual treadmills and motorised treadmills. Among these, the motorised treadmills segment dominated the market in 2022 and is expected to continue its dominance during the forecast period. Motorised treadmills are more convenient to use as they provide adjustable speed and elevation options with motor assistance. Features such as touchscreen consoles and built-in training programs in modern motorised treadmills have further increased their popularity.
Key Takeaways
The global Fitness Treadmills Market Growth is expected to witness high growth, exhibiting a CAGR of 7.4% over the forecast period, due to increasing health consciousness and awareness regarding physical fitness among the global population.
North America dominated the global fitness treadmills market in 2022 and is expected to continue its dominance during the forecast period. High awareness about health and fitness benefits of regular exercise along with growing gym culture has fuelled the demand for fitness equipment including treadmills in North America.
Asia Pacific is expected to be the fastest growing region during the forecast period mainly due to growing middle class population with increasing disposable incomes in emerging countries such as China and India.
Key players operating in the fitness treadmills market are Johnson Health Tech, ICON Health & Fitness, Technogym, Precor, Nautilus, Cybex, True Fitness, Amer Sports, Sole Fitness and Life Fitness. Johnson Health Tech and ICON Health & Fitness have the largest market share in 2022, owing to their diversified product portfolio and wide global distribution network.
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