The Rise of the Treadmill Business in the Fitness Industry

 The global treadmills market was USD 5.75 billion in 2024. The market will grow at USD 6.05 billion in 2025 and USD 9.08 billion in 2032, with a CAGR of 5.96% during the forecast period. North America led the market for treadmills with a 39.47% market share in 2024. A treadmill is a workout device that is used stationary and requests people to walk, jog, and run. It typically includes a sliding platform with a big conveyor belt driven by a flywheel or an electric motor.

Physical exercise activities across the globe are growing immensely owing to the growing health awareness among people, which is driving the market. For example, for instance, active participants in sports and fitness in the US. It was 242 million in 2023, and the year-over-year increase was 2.2%, against 236.9 million in 2022. Macroeconomically, increased demand for home fitness experience and home gym and increased growth in the number of fitness studios have led to home exercise and home workout equipment adoption, including treadmills, worldwide.

Key Market Information

Key Market Information
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Growing demand for healthy lifestyles, which is also increasing, is also favorably impacting global treadmill market trends overall. For example, in 2022, US-based Health & Fitness Association and the United States Health Club, gym or membership studio accounted for 68.9 million, of which members were six years and older. It was up 3.7%, while facility users in total amounted to 82.7 million, a rise of 8.1%. Rising health awareness among people has driven the membership of health clubs and gyms, stimulating commercial users' product demand.

For example, the Health & Fitness Association in the United States reported that Life Time, a US-based chain of health clubs, registered its membership growth at 23.8% in quarter one of 2022. The pandemic of COVID-19 favored the growing market in 2020. Governments of all states imposed lockdowns, and as a result, gyms, health clubs, and fitness studios were closed. In 2020, more than 300 million Americans were exempted from going to fitness centers according to the US Health & Fitness Association.

Trends in the Treadmill Market

Trends in the Treadmill Market
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Besides, the lockdown confined individuals at home, and the demand for home fitness increased across the globe. People from all over the world are opting for home workout and gyms in order to stay healthy and fit, and this increases the demand for the product. The United States-based Sports & Fitness Industry Association (SFIA) states that in 2020, there were over 49.8 million end-users in the United States. Firms have focused on new designs and functionalities to render the products easier and comfortable for use.

More integration of smart functionalities, such as Bluetooth technology and remote connectivity via smartphones, will enable customers to stream music, adjust speed and incline, and view workout videos, increasing product demand from technology-oriented customers. The majority of good companies are bringing new smart products to the market to spur sales and have a diversified product portfolio. For example, in June 2023, Deerrun, an American firm, launched its new Smart Under-Desk-BA02 smart treadmill for women.

Restriction Factors

Restriction Factors
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The innovative treadmill, according to Deerrun, is remotely controlled by mobile phones with data activation/deactivation, speed control, and exercise monitoring. In September 2020, an American manufacturer of exercise equipment, Horizon Fitness, released its new 2020 Studio Series treadmills, 7.0at, 7.4at, and 7.8at. The new lineup purportedly features Quickdial controls and Smart Bluetooth technology, allowing users to connect up to a list of training and fitness apps.

Increasing consumer demand for products offering a variety of innovative characteristics, including heart rate monitoring, individualized training plans, touch screen interactivity, and live performance tracking, will fuel demand for products. The firms are continuously expanding their product range, offering a wide range of products tailored to suit various consumer requirements and needs. A few of the participants stressed Treadmills, which are designed for cardiovascular and fitness training, also pose a risk of injury and death.

Conclusion

Conclusion
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Growing awareness about the potential risk of injury associated with product use is one of the factors negatively influencing product demand worldwide. Treadmill recalls can hamper the company and damage its brand reputation. Governments in every country have strict safety standards, and if these standards are not met or an incident occurs, these bodies can force companies to recall their products. For example, In October 2022, the U.S. Consumer Product Safety Commission (CPSC), a government agency, announced a recall of more than 200,000 Horizon T101-05 treadmills due to at least 874 reports of.

The product unexpectedly changing speed or stopping, including 71 reports of injuries, including bruises and abrasions. According to the agency, the product accelerated unexpectedly, changed speed, or stopped without user input, posing a fall hazard. In May 2021, the U.S. Consumer Product Safety Commission (CPSC) announced two separate voluntary recalls of more than 125,000 Peloton treadmills due to one infant death and 70 accidents. According to the agency, the product posed a risk of injury or death to adults, children, and pets, as they can be pulled under the rear of the product.

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