Global ergometer Market to Reach $2.03 Billion by 2030, States the Report by Allied Market Research

A lead analyst at AMR highlighted the market across North America region is expected to dominate in terms of revenues throughout the forecast period.

Allied Market Research published a research report on the ergometer market. The findings of the report states that the global market for ergometer is expected to reach $2.03 billion by 2030, manifesting a CAGR of 7.2% from 2021 to 2030. The report provides valuable data on changing market dynamics, key segments, top investment pockets, and competitive scenario for market players, new entrants, investors, and shareholders.

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“Increase in use of ergometer products for physical therapy, rehabilitation, and cardio exercise is likely to drive the growth of the global ergometer market. Furthermore, rise in demand for high class facilities in hospitals and clinics including hospital fitness centers are further fueling the growth of the market.” Roshan Deshmukh, Assistant Manager, Consumer Goods at Allied Market Research.

The report provides detailed information based on the key determinants of the market to assist market players in devising growth strategies. Increase in health concerns and population of obese people, rise in government initiatives to promote healthy lifestyle, and surge in number of gyms and fitness clubs propel the growth of the global ergometer market. On the other hand, high cost of ergometers restrains the market growth.

Conversely, rise in disposable income and purchasing power across emerging economies and surge in young population in developing countries are estimated to unlock new opportunities for the market players in the future.

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The report provides a detailed scenario of impact of the Covid-19 pandemic on the ergometer market globally. This helps the investors, market players, and new entrants to strategize according to impacts by the outbreak of the pandemic. The Covid-19outbreak led to suspension of manufacturing facilities, which resulted in a huge gap in demand-supply of ergometers. On the other hand, restrictions imposed by the government and lack of workforce restrained the market. China has been the global manufacturing hub due to availability of raw materials and workforce.

However, the restrictions on import and export in the country negatively affected the market
The report offers detailed segmentation of the global ergometer market on the basis of type, end user, sales channel, and region. These insights are helpful for the new entrants as well as current market players to capitalize on the fastest growing and highest revenue generating segment to accomplish growth in the coming years.

Based on type, the ergometer treadmills segment dominated with the largest share in 2020, holding for more than one-third of the market. On the other hand, the ergometer rowing segment is expected to cite the highest CAGR of 9.2% during the forecast period.

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On the basis of end user, the hospitals and private clinics segment held the highest market share in terms of revenue in 2020, with more than three-fifths of the market. At the same time, the home consumers segment is estimated to showcase the highest CAGR of 9.6% from 2021 to 2030.

The global ergometer market is studied across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated with lion’s share in 2020, holding for nearly two-fifths of the market. Nevertheless, the market across Asia-Pacific is expected to manifest the highest CAGR of 9.9% from 2021 to 2030.

The global ergometer market report includes an in-depth analysis of the prime market players such as Aspel SA, Emotion Fitness GmbH & Co. Kg, Schiller Monark Exercise AB, CORTEX Biophysik GmbH, Ergoline GmbH, Ergo-fit, Lode BV The Netherlands, HealthCare International, and TECHNOGYM S.P.A.

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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

This release was published on openPR.