Impact of COVID-19 on Economy, Industry and Company :
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
Kindly contact us to know more details: https://www.bizizzmarketresearch.com/contact
The Global Treadmill Ergometer Market was Valued at US$ 2.86 Bn in 2019 and it is Expected to Reach More than US$ 4.6 Bn by 2028, Likely to Register CAGR of 4.6 % during 2020-2028.
The global treadmill ergometer market has shown noteworthy growth since last two decades and expected to grow rapidly in future. Some of the major factors fuelling the growth of rising concern regarding fitness, popularity of electric gym equipment, and benefits associated with treadmill ergometer.
Rapid Demand for Advanced Gym Equipment Coupled with Increasing Fitness Consciousness to Propel the Market Growth
The global treadmill ergometer market is primarily fuelled by the rising adoption of sports and fitness activities among youngsters worldwide. People are more concerned regarding their physical appearance which is encouraging them to opt for gym and fitness clubs’ memberships. The treadmill ergometer provides real-time athlete performance and fitness to evaluate health metrics. Owing to the growing scale of CHD patients, the public and private figures are taking initiatives to spread awareness regarding necessity of exercising and healthy lifestyle. This is anticipated to bode well with the adoption of these products.
Moreover, introduction of advanced products with the feature of internet connection that allow to collet and store data on centralized servers is expected to create growth opportunities for the market growth.
Based on Application, the Fitness Club led the global market by occupying maximum share in 2019
On the basis of application, the fitness club segment is anticipated to lead the global market throughout the forecast timespan. The segment registered more than 80% market share in 2019. The rising adoption of sports and fitness activities as a daily routine across the globe is majorly driving the segment growth. Moreover, the manufacturers are introducing new products with advanced features. For instance, in 2019, SportsArt announced the launch of Verde G690, their first sustainable fitness equipment. The equipment is eco-friendly and able to generate electricity by extracting power through exercises including running, jogging, and walking.
On the other hand, the medical centre segment is projected to grow rapidly in coming years. The growing number of trauma and death cases caused by high blood pressure levels, cardiovascular diseases, and other heart related issues is encouraging the medical facilities and hospitals to start cardio training for patients to minimize the ratio. This is expected to surge the demand for treadmill ergometers in medical centres as it is considered as primary equipment for cardio.
Commercial Segment is estimated to Dominate the Global Market Whereas the Residential Segment is Expected to Witness Rapid Growth Throughout the Forecast Period
Based on end-user commercial segment dominated the global market by accounting for substantial share in 2018. The rising demand for treadmills in commercial spaces including medical centres, sports clubs, offices, gyms, and fitness clubs support the segment growth. In 2018, more than 30% of U.S. population have membership in gym or fitness club. Moreover, the rising awareness regarding benefits of maintaining fitness is expected to drive the demand for these products in commercial sector.
Furthermore, residential sector is projected to grow rapidly during the forecast period. Owing to busy lifestyle and hectic work schedule does, people are not able to spend sufficient time in gym which encourage them to exercise at home only. This is the major factor driving the segment growth. Moreover, the rising scale of patient suffering from coronary heart diseases is expected to put a positive impact on the segment growth.
Asia Pacific is anticipated to Witness Rapid Growth during the Forecast Timespan Whereas North America Led the Global Market by Accounting for Prominent share in 2019
By geography, North America held maximum share in 2019. The leading position of the region can be credited to presence of key manufacturers and their innovations for the development of new products with advanced features. Moreover, the consumer’s preference towards healthy and fit lifestyle is anticipated to bode with the regional growth. The U.S. is the major contributor for treadmill ergometer market in North America. The U.S. population are willingly spending ample amount on health and fitness rehabilitation.
Asia Pacific is projected to witness strongest growth throughout the forecast period. The rising number of medical rehabilitation centres and fitness clubs across the region is expected to widen the growth scope for the region. Moreover, the growing wellness and health industry favours the demand of these products in Asia Pacific.
Key players operating in global Treadmill Ergometer market include Enraf-Nonius, BODYCRAFT, Cybex International, Inc., ergoline GmbH, Johnson Fitness & Wellness, cosmos sports & medical GmbH, Amer Sports, Life Fitness, ICON Health & Fitness, and TECHNOGYM S.p.A.
Global Treadmill Ergometer Market by Application
- Medical Centres
- Fitness Clubs
Global Treadmill Ergometer Market by End-User
Global Treadmill Ergometer Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America