New Product Launches to Boost Demand for Treadmills Globally
15 Jul 2022
The growing trend about health & fitness activities to boost body immunity has translated into huge demand for treadmills across the globe. With the rapidly expanding wellness sector, consumers are spending on products that maintain their fitness and health. An outbreak of the COVID-19 pandemic forced a large number of people shift towards personalized at-home workouts. This resulted in a rise in the purchase of fitness equipment such as treadmills. According to the survey, nearly 40% of the population in Brazil, Japan, the U.S., China, the UK, and Germany consider wellness as their top-most priority. Reportedly, a rise in fitness choices led to investments of nearly $2.1 billion from investors in various kinds of fitness-tech apps in 2020. Moreover, onsite fitness programs has generated huge demand for fitness equipment such as treadmills from health and fitness-conscious people. Additionally, concepts such as In-home and Do-it-yourself fitness are gaining momentum, thereby resulting in the huge sales of treadmills. Furthermore, increase in consumer purchasing capacity provides huge growth opportunities for players in the personal wellness industry and this is anticipated to provide impetus to huge penetration of treadmills across the personal wellness industry. According to the Allied Market Research Report,the global treadmill market is estimated to generate $5,932.0 million by 2030. Following are some of the activities taking place across the global treadmill industry.
New product launches have lucratively influenced the growth of the health, fitness, and wellness industries. The launching of new products has contributed enormously to the expansion of the treadmill portfolio for manufacturers. Body Energy Technology Co., Ltd., a key treadmill manufacturer, launched a new human-powered treadmill referred as BodyEnergy Treadmill. Reportedly, BodyEnergy treadmill can provide comprehensive fitness training to people belonging to all age groups. Moreover, the new fitness equipment can work out on the entire body of the user without any risk of severe injury and excessive electric energy consumption. Moreover, the strategic move aims to provide safer, greener, and more effective fitness equipment for users who do fitness workouts at home.
Continuing with the trend of new product launches, Peloton Interactive, Inc., a U.S. –based exercise equipment manufacturer, launched two new products for home smart gyms. The new product lineup includes Bike+, a premium version of the firm’s stationary bicycle, and the Tread, the new entry-level treadmill equipment of the firm. The initiative of the firm is a move towards the promotion of workouts at home for users.
Securing investments is a strategy practiced by firms for funding their research and development activities for launching new products in the market. Future, a digital fitness firm, raised funds worth $75 million through a funding round led by SC Holdings and Trustbridge Partners which are private equity organizations. The strategic move is aimed at promoting the growth of the home fitness equipment industry and will boost demand for connected exercise bicycles and treadmills
Chief editor of review team at FinancesOnline
Chief editor of review team at FinancesOnline Alex Hillsberg is an expert in the area of B2B and SaaS related products. He has worked for several B2B startups in the past and gathered a lot of first hand knowledge about the industry during that time.