May 29, 2024
Fitness Treadmills Market

The Global Fitness Treadmills Market Growth Is Driven By Increasing Health Awareness

Fitness treadmills are motorized devices designed for walking or running while staying in the same place indoors. They have a large continuous belt that moves to allow users to walk or run comfortably at home as an alternative to outdoor activities. Fitness treadmills come with electronic monitors that track metrics like speed, distance covered, time spent, calories burned, etc. to help users monitor their workout progress. In addition, many treadmills have incline settings that allow adding resistance for a more intense full-body workout. The growing concern over obesity and associated health issues has boosted demand for fitness equipment like treadmills. Newer models come equipped with interactive features and connectivity options for accessing virtual workout videos and tracking data on fitness apps.

The global fitness treadmills market is estimated to be valued at US$ 4.34 billion in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends in the Global Fitness Treadmills Market Size is the growing popularity of smart and connected treadmills. Leading manufacturers are focusing on integrating various technologies like touchscreens, Bluetooth connectivity, and apps to provide interactive indoor workouts. This allows users to access on-demand virtual classes led by expert trainers on the treadmill display. Data from such connected workouts can also be synced with virtual fitness platforms and mobile health apps for a more comprehensive analysis of activity levels and progression over time. The advancements in interactive features are expected to appeal to tech-savvy users and drive the demand for high-end smart treadmills. Furthermore, the ability to access varied workout programs from the comfort of home makes smart treadmills a popular choice for mainstream consumers as well.

Porter’s Analysis

Threat of new entrants: The fitness treadmills market has moderate threat of new entrants due to high R&D and production costs. However, innovative products can capture market share easily.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and variety of brands offering treadmills at different price points.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative raw material suppliers. However, patents provide some control over technology providers.

Threat of new substitutes: Threat of new substitutes is moderate as rowing machines, ellipticals and stationary bikes provide alternatives for cardiovascular exercise.

Competitive rivalry: The market is dominated by few global players. However, the market is growing creating opportunities for local and new entrants.

Key Takeaways

The global fitness treadmills market is expected to witness high growth. The global fitness treadmills market is estimated to be valued at US$ 4.34 billion in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 to 2031.

North America dominates the market currently due to high health awareness and significant investments in fitness clubs and gyms in countries like U.S. and Canada. Asia Pacific is expected to be the fastest growing market due to improving healthcare infrastructure and growing middle class population in countries like China and India.

Key players operating in the fitness treadmills market are Nutricia, Unilever, Bionova, BASF SE, Abbott, Arkopharma Laboratories, GSK plc., ADM (Archer Daniels Midland Company), DuPont, Kellogg’s Company, Arla Foods amba, DSM, Quantum Naturals Ltd., Adcock Ingram, Ascendis Health Limited, iNova Pharmaceuticals, Vital Health Foods, Jamjoom Pharma, Creso Pharma, and ConnOils LLC. These players are focusing on new product launches and mergers & acquisitions to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it