Magnetic Treadmills Market Size, Share, Growth and Industry Analysis by Sensors (Fixed Slope, And, Adjustable Incline), By Application (Gym, And, Home) Regional Forecast to 2028

Updated On: 13 November 2023

REPORT OVERVIEW

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The global magnetic treadmills market size expanded rapidly in 2022. As per our research the market is expected to generate substantial revenue by 2028, exhibiting a high CAGR during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over

A magnetic treadmill is usually motorless. With the usage of magnetic pores, it creates resistance. The workout can be made more challenging by increasing the magnetic pull, whereas the difficulty of the workout can be reduced by decreasing the magnetic pull. These treadmills have high demand because they are very easy to maintain and store.

A large number of people have opted to work out at their homes, rather than going to the gym. Especially after the pandemic, people working out from their homes have increased. This is having a positive impact on the market growth. This is considered as the latest trend in the market.

Magnetic, non-motorized treadmills have many advantages over motorized ones. They are less expensive, take up less space, do not depend on electricity to operate and are safer compared to the normal ones. These factors have helped in the rapid development of magnetic treadmills market share.

COVID-19 Impact: Installation of Magnetic Treadmill at Home During Pandemic Increased Market Share

The outbreak of pandemic of COVID-19 changed the dimensions of many industries. There was an emergency in all the countries as the death rates continued to increase day by day. Along with a health crisis the economy of many countries collapsed.

In order to avoid the further spread of coronavirus, the government bodies of different countries took initiatives and precaution to impose social distancing norms, and lockdowns. As a result, people could not go to gyms. Magnetic treadmills can be installed in homes with a lot of consistency. Therefore, a lot of people installed magnetic treadmills in their homes during the pandemic, increasing the market share and growth.

LATEST TRENDS

"Increasing Health Awareness of People Post Pandemic to Drive Market Growth"

Health awareness among people increased, especially after the health challenges that were posed by the pandemic of COVID-19. People with heart problems, and obesity were exposed to a higher risk of dying due to coronavirus. This changed the lifestyle of people to a great extent.

The number of people going to gyms also increased by a considerable amount. Many people also installed magnetic treadmills in their homes, to workout from the comfort of their homes. These treadmills are not very expensive, and the process of installing them is also not difficult. All of these factors increased the demand and sales for magnetic treadmills. This is considered as the latest trend in the market.

SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following segments:

Fixed slope, and, adjustable incline. The fixed slope segment is anticipated to dominate the market during the forecast period.

• By Application:

Based on application, the market share is bifurcated into the following segments:

Gym, and, home. The gym segment is expected to dominate the market during the forecast period.

DRIVING FACTORS

"No Requirement of Electricity to Run Magnetic Treadmills to Amplify Market Growth"

Magnetic treadmills are non-motorized treadmills due to which they do not depend on electricity to operate. This factor enhances the efficiency of these treadmills. As they do not require a source of power, they can be set up anywhere with utmost convenience. It is not necessary to set them up near an electric outlet.

As they do not consume electricity, they are considered to be environment-friendly. Compared to the normal motorized treadmills they are less expensive and have a more compact structure. As they do not have a motor the size of these treadmills is small. This makes them portable. They can also be stored in smaller and congested places. All of these factors are amplifying the market growth and development.

"Complete Control Over Speed of These Treadmills to Impede Market Growth"

The major advantage of using magnetic treadmills is that the user can have complete control over its speed. Usually, non-motorized treadmills have a belt which the user will have a control on. In a motorized treadmill the user will have no control over the belt that is operating. He must keep up with the moving belt. As the user has a complete control over the speed of the treadmill, he can use the device accordance to his comfort.

It is observed that, magnetic or non-motorized treadmills are much safer compared to the motorized treadmills. While working out on a motorized treadmill, the user will have to stop the treadmill with the help of the buttons that are provided on the treadmill. But the user can stop magnetic treadmills according to his willingness. As soon as the user stops moving the non-motorized treadmill will also stop. There is no risk of the user slipping off when he tries to stop. Such treadmills are highly suitable to perform high intensity interval training (HIIT). All of these factors are propelling the magnetic treadmills market growth.

RESTRAINING FACTOR

"Fatigue and Joint Stress from Magnetic Treadmills to Bring Down Market Share"

Even though a lot of calories can be burnt using a magnetic treadmill, a lot of energy has to be used to put the belt into movement. The user must exert a lot of pressure and in doing so he can easily get tired after a short span of time. Due to the fatigue, the workout will be cut short. This can bring down the market share.

Apart from increasing the fatigue using a non-motorized treadmill can also increase the amount of stress that is exerted on the knees and joint. The force that has to be exerted on the belt will strain the joints and can damage them in the long-term.  Also, these treadmills are not very suitable for runners. All of these factors can hamper the market growth.

Regional Insights

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"North America to Dominate Market Share "

North American region is dominating the market share in terms of production and revenue. This can be attributed to factors like the increase in number of gyms and fitness centers that are getting established in this region. With an increase in the number of gyms the demand for these treadmills has also increased.

Growing awareness regarding fitness, has influenced people to work out. People prefer to buy, a non-motorized treadmill because it is very easy to install, and it takes up very less space as compared to the motorized treadmills. All of these factors have increased the demand for this product in North America.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Stamina Products (U.S.)
• Xplorer (Canada)
• Lifegear (India)
• Donatif (Italy)
• Sunny (U.S.)
• Paradigm Health & Wellness (U.S.)
• Fitness Reality (U.S.)
• Kuang Ming Feng Int'l (Taiwan)
• Assault Fitness (U.S.)
• NordicTrack (Utah)
• Bowflex (U.S.)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations.