Global Treadmill Ergometer Market to Grow at a CAGR of 8.9%, during Forecast Period
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects global treadmill ergometer market size to grow at a CAGR of 8.9% during the forecast period between 2022 and 2028, reaching a value of USD 5.18 billion by 2028.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects global treadmill ergometer market size to grow at a CAGR of 8.9% during the forecast period between 2022 and 2028, reaching a value of USD 5.18 billion by 2028. Various microeconomic and macroeconomic factors are having a positive impact on the global treadmill ergometer market. The rising popularity of electric gym equipment has been one of the main drivers of the market expansion. People are more concerned with maintaining their physical fitness and good health, and they want accurate records of their physical activity. Treadmills are among the most popular gym equipment. Hence, there is an increasing demand for treadmill ergometers. These ergometers provide data on the amount of exercise performed, calories burned, and heart rate. Their popularity has grown as they provide this information, which, in turn, could contribute to the expansion of the market.
Growing consumer awareness and technology advancements
As a result of the rise in health problems, such as obesity, cardiovascular disease, and PCOD, people are becoming more aware of their health and how physical activity can help them monitor it. Consumer awareness of the benefits of physical activity, combined with modern technology developments in fitness equipment, such as continuous monitoring of users' physical condition and the recent introduction of smart equipment, drives treadmill ergometer sales. The compact designs of treadmill equipment for in-home exercise and gyms' ongoing development to improve their visitor environments are some of the other factors that could support the growth of treadmill ergometer market during the forecast period.
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Growing focus on wellness and fitness
Ergometers are primarily used for cardio exercise and managing obesity. During the forecast period, the use of treadmills in gyms, health clubs, and residential areas is expected to increase. The demand for physical activity to maintain health and wellness is another factor driving market expansion. Treadmills and other aerobic exercise equipment are made to encourage the expansion of the treadmill industry worldwide. For instance, the American Heart Association (AHA) reports that 43.2% of deaths in the U.S. in 2016 were attributable to cardiovascular disease, with coronary heart disease (CHD) ranking among the top causes of death in the country.
Challenge: Rising trends across a range of physical activities
In addition to the expanding trend for digital equipment, a variety of other physical activities are starting to gain popularity as more people become aware of their health and physical activity. As people look for ways to unplug from technology and increase their physical activity, yoga classes and other dance styles such as Zumba, and Aerobics, have grown in popularity. As a result, the market growth for treadmill ergometers may experience significant negative effects during the forecast period because of this change in consumer behavior.
Global Treadmill Ergometer Market – By End User
Based on end user, global treadmill ergometer market is segmented into Home Consumers, Health Clubs/Gym, Hotel, Medical Centers, Hospitals. Health clubs and gyms now offer treadmill ergometer facilities because of growing consumer understanding of the importance of fitness. The expansion of the market is also anticipated to benefit from the rise in the number of commercial health facilities, such as gyms and sports and fitness clubs. Additionally, a sizable CAGR is anticipated for the home consumer sector throughout the forecast period. The use of treadmill ergometers will increase due to consumers' busy schedules and high work demands. During the period in analysis, each of these drivers will contribute to the growth of global treadmill ergometer market.
Impact of COVID-19 on Global Treadmill Ergometer Market
COVID-19 negatively impacted the global treadmill ergometer market. Lockdowns, travel bans, and company closures brought on by COVID-19 affect the economies and industries across countries. The production, delivery plans, and sales of goods on the global market have all suffered because of the closure of numerous plants and factories. Only a small number of companies have already issued warnings about delivery delays and future sales declines. The international travel bans implemented by countries have also affected the chances for business partnerships and collaborations.
Leading players in global treadmill ergometer market include ICON Health & Fitness, Johnson Fitness & Wellness, BODYCRAFT, Life Fitness, Amer Sports, Cybex International, Inc., h/p/cosmos sports & medical GmbH, TECHNOGYM S.p.A., Enraf-Nonius, and ergoline GmbH. Global treadmill ergometer market is highly fragmented with the presence of several manufacturing companies. The market leaders retain their supremacy by spending on research and development, incorporating innovative technology into their goods, and releasing upgraded items for customers.
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