The Growing Market. The global treadmill market size valued at USD 5.75 billion in 2024. The market is projected to grow from USD 6.05 billion in 2025 to USD 9.08 billion by 2032, exhibiting a CAGR of 5.96% during the forecast period. North America dominated the treadmill market with a market share of 39.47% in 2024. A treadmill is a stationary cardiovascular exercise machine that allows people to walk, jog, and run. It typically features a moving platform with a wide conveyor belt driven by an electric motor or flywheel.
Participation in physical exercise across the globe is growing tremendously with the increasing health awareness among citizens, thus reinforcing the booming market movement. For example, as reported by the US-based Sports and Fitness Industry Association (SFIA), the total number of sports and fitness participants in the US reached 242 million in 2023, a 2.2% increase from the previous year, up from 236.9 million in 2022. On a macro scale, increased demand for gym and home fitness experiences and an expansion in the number of fitness centers have led to the adoption of home exercise and training equipment, including treadmills, worldwide.
Key Market Information
The rising trend toward healthy living is also positively contributing to trends in the global treadmill market. For example, according to the US-based Health & Fitness Association, in 2022, US Health Club, gym, or studio memberships reached 68.9 million, with members falling into the six-and-older age group. This was a 3.7% increase, and overall facility users reached 82.7 million, representing an 8.1% increase. Growing health awareness among people has increased the number of gym and health club memberships, driving demand for products among commercial consumers.
For example, the Health & Fitness Association, a US-based group, reported that Life Time, a US-based health club chain, saw membership growth of 23.8% during the first quarter of 2022. The COVID-19 pandemic positively influenced the market’s performance in 2020. Governments across the country imposed lockdowns, leading to the closure of most gyms, health clubs, and fitness studios. The US-based Health & Fitness Association reported that more than 300 million Americans were unable to access fitness centers in 2020.
The Growing Market Trenda in The Treadmill Market
In addition, the lockdown confined the public to their homes, and the need for home fitness grew rapidly worldwide. People around the world turned to home workouts and gyms to stay healthy and fit, increasing the need for the product. According to the US-based Sports & Fitness Industry Association (SFIA), in 2020, there were more than 49.8 million end-users in the United States. Under current conditions, manufacturers have been particularly keen on new designs and finishes that make the end user more comfortable and convenient.
The increasing integration of smart features, such as Bluetooth technology and remote control via smartphone, will allow consumers to stream music, adjust speed and incline, and even watch workout videos, increasing product demand among tech-savvy consumers. Some of the most well-known companies are launching new smart products to boost sales and create a diversified portfolio. For example, In June 2023, Deerrun, a US-based fitness equipment company, introduced its new Smart Under-Desk-BA02 treadmill for women.
The Growing Market Restriction Factors
According to Deerrun, the new product can controlled remotely via mobile phones, including on/off data, speed adjustment, and exercise viewing. In September 2020, Horizon Fitness, a US-based fitness equipment company, launched its new range of 2020 Studio Series treadmills, the 7.0at, 7.4at, and 7.8at. According to the company, the new range features Quickdial controls and Smart Bluetooth technology, allowing users to connect to a variety of training and fitness apps.
Based on type, the market divided into manual treadmills and electric treadmills. The electric treadmill segment had a considerable market share in 2023. The widespread availability of these products with advanced features such as Bluetooth and Wi-Fi connectivity, a USB charging port, automatic wear-out, incline, and screen-of-screen touch display will fuel the segment’s growth. The manual treadmill segment expected to grow steadily throughout the forecast period.
Conclusion
These products are cost-effective compared to electric versions, making them an attractive option for budget-conscious consumers. Additionally, several market players are launching new products. For example, in January 2020, BodyEnergy Technology Co., Ltd., an American fitness equipment company, launched its new manual series, the BodyEnergy Winkmill. The residential segment will lead with a significant market share in 2024 due to the growing boom in home workouts and the rising health awareness among citizens around the world.
The Growing Market. On the other hand, rising trends in healthy lifestyles and cardiovascular workouts for weight loss will also contribute to the segment’s expansion. The commercial segment is expected to grow significantly during the forecast period due to the increasing number of gyms and fitness centers across all countries. Furthermore, the rising number of gym and fitness club members seeking cardiovascular machines to stay fit and lose fat will increase product demand. According to the Health & Fitness Association, a US-based association, there were 69.8 million US fitness club members as of 2022.
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