Ergometer Market to Receive Overwhelming Hike In Revenue That Will Boost Overall Industry Growth by 2030 with a 7.2% CAGR

As per the report published by Allied Market Research, the global ergometer market generated $1.04 billion in 2020, and is expected to reach $2.30 billion by 2030, growing at a CAGR of 7.2% from 2021 to 2030.

Rise in health concerns and population of obese people, surge in government initiatives to promote healthy lifestyle, and increase in number of gyms and fitness clubs drive the growth of the global ergometer market. However, high cost of ergometers hinders the market growth. On the contrary, rise in disposable income and purchasing power across emerging economies and rise in young population in developing countries are expected to open new opportunities for the market players in the future.

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Covid-19 scenario:

The outbreak of Covid-19 led to closure of manufacturing facilities, which created a huge gap in demand-supply of ergometers. Moreover, restrictions imposed by the government and lack of workforce hampered 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 segments the global ergometer market on the basis of type, end user, sales channel, and region.

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Based on type, the ergometer treadmills segment held the largest share in 2020, accounting for more than one-third of the market. However, the ergometer rowing segment is estimated to register the highest CAGR of 9.2% during the forecast period.

On the basis of end user, the hospitals and private clinics segment dominated the market in terms of revenue in 2020, contributing to more than three-fifths of the market. However, the home consumers segment is projected to portray the highest CAGR of 9.6% from 2021 to 2030.

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The global ergometer market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion's share in 2020, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is expected to register 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, CORTEX Biophysik GmbH, Ergoline GmbH, Ergo-fit, Lode BV The Netherlands, HealthCare International, Schiller Monark Exercise AB, and TECHNOGYM S.P.A

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. 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 provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry

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