Portland, OR, July 06, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global treadmill market generated $3.28 billion in 2020, and is expected to reach $5.93 billion by 2030, growing at a CAGR of 5.1% from 2021 to 2030.
Increase in health & fitness awareness, penetration of international brands, rise in culture of gym across the globe drive the growth of the global treadmill market. However, availability of counterfeit products and high cost of treadmills hinder the market growth. On the contrary, surge in government investment in sports events and growth of online retail platform are expected to open lucrative opportunities for the market players in the future.
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Covid-19 scenario:
- Since the outbreak of Covid-19, the consumers have become more concerned to maintain their health and fitness. This boosted the demand for treadmills to be used at home.
- Moreover, the closure of gyms and fitness centers increased the demand for personal fitness equipment including treadmills across the developing nations.
- However, the prolonged lockdown resulted in disruption of the supply chain and increase in prices of raw materials.
The global treadmill market is segmented on the basis of type, end use, distribution channel, and region.
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Based on type, the market is classified into manual and electronic. The electronic segment dominated the market in 2020, accounting for more than four-fifths of the market. However, the segment is expected to register the highest CAGR of 5.6% during the forecast period.
On the basis of end use, the market is categorized into residential, institutional, and commercial. The commercial segment held the lion’s share in 2020, contributing to nearly half of the market. Moreover, the segment would manifest the highest CAGR of 6.1% during the forecast period.
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The global treadmill market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2020, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is projected to register the highest CAGR of 8.3% from 2021 to 2030.
The global treadmill market includes an in-depth analysis of the prime market players such as Johnson Health Tech, Health & Fitness, Technogym, True Fitness Technology, Inc., Nautilus, Inc., Life Fitness Inc., and Landice, Inc., TrueForm, and Woodway.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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