Home Treadmill Market Size, Share, Growth, and Global Industry Analysis, By Type (Single Function Treadmill and Multifunctional Treadmill), By Sale Channel (Offline and Online), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

HOME TREADMILL MARKET REPORT OVERVIEW

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The global home treadmill market size is expected to be USD 3550.2 million in 2022 and is projected to touch USD 4755.11 million by 2031, at a CAGR of 3.3% during the forecast period.

Home treadmill is an indoor equipment that is a fitness equipment. It is a scientific and convenient fitness equipment. It is usually used for walking, climbing, and running at the comfort of home. Inception of trend of treadmill in households began owing to enhancement in the standard of living. Treadmills are used in various indoor institutions and are one of the largest selling fitness equipment worldwide.  

Prominence of use of home treadmill have been gaining traction due to escalating enlargement of the consumer base becoming aware of health benefits of indoor fitness equipment. Increase in the physical activities such as biking, jogging, running, walking, and other activities. Demand for indoor fitness equipment for improving stamina, muscle strength, and weight management is expected to drive the market growth. Need to maintain overall health and fitness is anticipated to drive product demand. Demand for such treadmills gained traction owing to COVID-19 pandemic as need to maintain health and fitness at the comfort of home.   

COVID-19 Impact: Awareness Regarding Fitness to Impel Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the home treadmill market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The effects of the COVID-19 pandemic were felt globally; the home treadmill market was noticeably influenced as well. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. Pandemic led to the shutdown of physical stores for buying fitness equipment. But people had their fitness goals set during the pandemic which led to an increase in the demand for indoor fitness equipment. People searched for new ways to become more conscious towards their health and use appropriate treadmills that can function in houses properly. Online sales of fitness equipment helped people to get their fitness equipment.

LATEST TRENDS

"Integration of AI Technology to Propel Health and Fitness to New Level "

The global home treadmill market growth is anticipated to experience development owing to integration and introduction of AI technology. Integration of AI and Machine Learning in the fitness industry is expected to have a big impact on the fitness equipment. Such technologies are integrated in fitness equipment as well that offers health insights to create a workout that is based on a person’s height, weight, and goals. It aims to offer more personalized experience that works with the users. Tonal has a high-tech and high-powered AI-powered application that offers workout goals for work-at-home workouts. Google has introduced fitness application, Google Fit Data which is AI-powered that offers a health platform which provides AI-powered fitness. Integration of AI technology is estimated to pose prospects for market growth during the forecast period.

HOME TREADMILL MARKET SEGMENTATION

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• By Type

Based on type; the market is divided into single function treadmill and multifunctional treadmill.

are expected to be the leading part of the type segment.  

• By Application

Based on application; the market is divided into offline and online.

Offline is expected to be the leading part of the application segment.  

DRIVING FACTORS

"Increasing Health Complications Amongst Population to Drive Market Growth"

Increasing health complications amongst population is expected to drive market growth. Increasing number of obesity cases have led people to reduce their weights. This is due to lack of physical activities done by people. In addition to obesity, other health complications such as cancer, diabetes, cardiovascular diseases, and other diseases have anticipated to expand demand for indoor fitness equipment. Not enough physical activities can cause further health complications. Need to perform physical activities to maintain health and fitness is expected to drive home treadmill market growth. Increasing demand for indoor fitness at comfort of home is anticipated to drive product demand.

"Inclination Towards Digital Technology to Boost Demand for the Product"

Increasing popularity of using fitness applications in smart devices in developed and developing countries is expected to propel market growth over the forecast period. Smart fitness equipment that plays a noteworthy role in making personal fitness routine. Rising popularity for digital technology is driving market growth. In addition, rise in e-commerce channels to promote the online sales of the product is anticipated to create demand for the product.

RESTRAINING FACTORS

"High Prices of the Product to Hamper Product Demand"

There are a number of factors that can propel the growth of home treadmill market. High prices of the product is expected to hinder market growth. Due to such high prices of the fitness equipment, middle and low income earners in developing and underdeveloped countries are not able to such equipment. Presence of commercial gymnasiums globally have led to decrease in the expenses on home fitness equipment which also act as a restraint.

HOME TREADMILL MARKET REGIONAL INSIGHTS

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"North America to Govern the Market Share Due to Demand for Home Gymnasiums"

North America to have dominating part in the global home treadmill market share owing to increasing demand for home gymnasiums. Increasing number of health complications amongst the population has led people to take care of their health. Increase in the disposable income amongst the consumers to afford advanced fitness equipment is expected to drive market growth. This has led to rise in treadmills that are compatible for household Rising health awareness and need to maintain health and fitness amongst the people of the region is expected to drive the market share. Rising establishments of home gyms is expected to hike the rate of sales for household treadmills. Preference to have enhanced stamina, muscle strength, and weight management, and all other activities that are linked to have a healthy well-being are anticipated to have enhanced market share during forecast period.  

KEY INDUSTRY PLAYERS

"Market Players to Boost Market Growth"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• ICON (Ireland)
• Lifefitness (U.S.)
• Technogym (Italy)
• Precor (U.S.)
• Nautilus (U.S.)
• Johnson (U.S.)
• Dyaco (Taiwan)
• SHU HUA (China)
• True Fitness
• Orient Fitness (Malaysia)
• Impulse Fitness
• Yijian Fit (China)
• WNQ (China)
• Landice

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.