The treadmill market size was valued at USD 5.47 billion in 2023 and is expected to be worth USD 5.75 billion in 2024. The market is projected to reach USD 9.08 billion by 2032, recording a CAGR of 5.88% during the forecast period.
A treadmill refers to a stationary exercise machine that helps users participate in various cardiovascular workouts, such as running and walking. It consists of a moving platform that has a wide conveyor belt that is powered by a flywheel or an electric motor. Increasing number of people participating in physical activity is one of the key factors bolstering the product’s demand.
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LIST OF KEY COMPANIES PROFILED IN THE REPORT:
Segmentation:
Electric Treadmills Gained Major Traction Owing to Their Innovative Features
Based on type, the market is segmented into electric treadmill and manual treadmill. The electric treadmill segment held a major market share in 2023 as this exercise machine consists of various innovative features, such as a USB charging port, Wi-Fi & Bluetooth connectivity, and automatic incline and decline. These features can attract tech-savvy fitness enthusiasts.
Residential Segment Dominated Market Due to Rising Popularity of At-Home Workouts
Based on end-user, the market is divided into commercial and residential. The residential segment dominated the global treadmill market share in 2023 as more people are opting for home workouts due to the growing health awareness among homeowners.