Ergometer Market Expected to Reach $ 2,302.9 Million by 2030 Allied Market Research.

According to a new report published by Allied Market Research, titled, “Ergometer Market by Type, End user and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030,”

The global ergometer market size is expected to reach $2,302.9 million by 2030 at a CAGR of 7.2% from 2021 to 2030. 

In recent years, there has been a trend to track physical activity and its results in real time. The treadmill market has witnessed significant growth due to increase in number of people from all over the world going to gyms and health centers to stay healthy and active. Key players in the market are trying to consolidate their position by introducing high-tech products and establishing partnerships with well-known local fitness brands, which is expected to drive the market growth. In addition, increase in adoption of health and fitness as a way of life is expected to increase the demand for smart and wearable devices. These devices help effectively measure ground reaction forces (GRF) induced by pedestrians on rigid surfaces in multiple successive stages and show the growth rate of each person. Product development aims to further promote the market growth. For example, stair milling machines are increasingly used due to their cardiovascular benefits. It is also used as a routine exercise program in physical therapy and sports science.

During the recent outbreak of COVID-19, the hospitals and clinics segment has gaining major traction as people are hugely getting admitted due the COVID-19 infections. Health and fitness equipment are majorly demanded by the hospital and clinics. Thereby, COVID-19 outbreak positively impacted ergometer market growth. 

The increase in prevalence of various diseases and awareness of their associated risks help raise awareness of healthy lifestyles and exercise. Furthermore, the increase in prevalence of cardiovascular disease among young people is expected to drive the demand for ergometers. According to the American Heart Association (AHA), coronary artery disease (CHD) is the leading cause of death in the U.S. In 2016, 43.2 people died of cardiovascular disease. In the same year, 16.9% of strokes and 9.3% of heart failure cases were registered in the region.

According to the ergometer market analysis, the ergometer market is segmented on the basis of type, end user, sales channel, and region. On the basis of type, the market is categorized into ergometer cycles, ergometer treadmills, upper body ergometer, ergometer rowing, and others. By end user, it is segregated into hospitals & private clinics, health clubs & gyms, home consumers, and others. Depending on sales channel, it is categorized into B2B suppliers, specialty retail stores, e commerce, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia, the Netherlands, and rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, India, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, United Arab Emirates, and rest of LAMEA).

According to the ergometer market trends, on the basis of type, the ergometer cycle segment was valued at $295.1 million in 2020, and is expected to reach $611.9 million by 2030 at a CAGR of 6.6%. This is majorly attributed to advance features offered by electronic ergometer cycle to users such as tracking running speed, heart rate, and distance covered. Ergometer cycles are primarily used for medical fitness test report. Growing use of the ergometer cycles in hospitals and importance of fitness test derived from the ergometer cycles are likely to increase the ergometer market share through the ergometer cycle segment during the forecast period.

By end user, the home consumers ergometer market is expected to grow at CAGR of 9.6% during the ergometer market forecast period. People are significantly opting to have home gym, which is likely to generate demand for various ergometer products, including ergometer treadmills, cycles, and elliptical. Due to increase in prevalence of cardiovascular diseases and various heart diseases people are getting encouraged to buy ergometer products for their homes. Furthermore, manufacturers focus on continuous product innovation and many new features to increase market share. For example, Sports Arts Inc. launched the Green G690 eco. -Friendly treadmill. This eco-friendly treadmill uses work related to various activities such as running, walking, and jogging to generate 200 watt-hours of electricity.  

On the basis of sales channels, the B2B suppliers segment was valued at $592.7 million in 2020, and is expected to reach $1217.8 million by 2030 at a CAGR of 6.5%. Hospitals, health clubs, and corporate building directly purchase ergometer from the manufactures and their suppliers. Hospitals are increasingly buying ergometer and other fitness equipment from the manufactures as they are providing huge discounts on the bulk orders and after sales services to secure their future business deals. Growing cardiovascular diseases and other heart-related diseases among the people, hospitals and clinics are offering hospital gym for patients to track their fitness records. 

Region wise, Europe has been accounted for considerable share in the global market and is expected to sustain its share during the forecast period. Excessive inclination toward private health, wholesome lifestyles, and willingness to hold up the classy attraction among people irrespective of age and gender are driving the growth of the market. Moreover, smooth availability of huge variety of bodily pastime tracking merchandise is a key factor anticipated to propel the market growth. In this local marketplace, the Europe market is anticipated to grow at a significant rate, accompanied through the marketplace in France, Spain, and Russia, due to willingness of people in Europe to spend on fitness and health merchandise.

The players operating in the ergometer industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Aspel SA, CORTEX Biophysik GmbH, Emotion fitness gmbh & co. Kg, Ergo-fit, Ergoline GmbH, HealthCare International, Lode BV The Netherlands, Monark Exercise AB, Schiller, and TECHNOGYM S.P.A.

Key findings of the study  

• The ergometer market size was valued at $1,042.3 million in 2020 and is estimated to reach $xxxx million by 2030, registering a CAGR of 8.8% from 2021 to 2030. 
• By end user, the home consumers segment is estimated to witness the fastest growth, registering a CAGR of 9.6% during the forecast period.
• In 2020, depending on sales channel, the specialty retail stores segment was valued at $218.1 million, accounting for 20.9% of the global functional pet food market share. 
• In 2020, the U.S. was the most prominent market in North America and is projected to reach $704.8 million by 2030, growing at a CAGR of 5.8% during the forecast period.