Ergometer Market Set for Impressive Expansion, Projected to Cross $ 2,302.9 Million by 2030 with a CAGR of 7.2% | Europe has been accounted for considerable share in the global market

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.

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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).

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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 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.

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