According to a new report published by Allied Market Research, titled, “global treadmill market by product type, end use, distribution channel and region: global opportunity analysis and industry forecast, 2021–2030,”. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.
The global treadmill market size was valued at $3,284.8 million in 2020, and is projected to reach $5,932.0 million by 2030, registering a CAGR of 5.1%.
Increase in health & fitness awareness, penetration of international brands, rise in culture of gym across the globe drive the growth of the global treadmill market. The market across North America held the lion’s share in 2020, accounting for nearly two-fifths of the market. Moreover, the closure of gyms and fitness centers increased the demand for personal fitness equipment including treadmills across the developing nations.
Treadmill is widely used for physical fitness equipment for weight management and improving body stamina & muscular strength. Mostly used treadmills are motorized or electronic, owing to advance features offered to users. Rise in awareness regarding health & fitness, increase in obese population, government initiatives to promote healthy lifestyle, and increase in youth population are the major factors that drive growth of the global treadmill market.
Based on type, the market is classified into manual and electronic. The electronic segment dominated the market in 2020, accounting for more than four-fifths of the market. However, the segment is expected to register the highest CAGR of 5.6% during the forecast period.
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On the basis of end use, the market is categorized into residential, institutional, and commercial. The commercial segment held the lion’s share in 2020, contributing to nearly half of the market. Moreover, the segment would manifest the highest CAGR of 6.1% during the forecast period.
The global treadmill market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2020, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is projected to register the highest CAGR of 8.3% from 2021 to 2030.
The global treadmill market includes an in-depth analysis of the prime market players such as Johnson Health Tech, Health & Fitness, Technogym, True Fitness Technology, Inc., Nautilus, Inc., Life Fitness Inc., and Landice, Inc., TrueForm, and Woodway.
Key findings of the study:
• By product type, the electronic segment accounted for the highest treadmill market share in 2020, growing at a CAGR of 5.6% from 2020 to 2027.
• By end use, the commercial segment accounted for the highest treadmill market share in 2019, growing at a CAGR of 6.1% from 2020 to 2027.
• By distribution channel, the specialty segment accounted for the highest market share in 2020, growing at a CAGR of 4.1% from 2020 to 2027.
• By Region, North America occupied the maximum share in the market in 2020 and is expected to be the dominating segment during the treadmill market forecast period.
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