Bike Trainers Market Research, 2031
The global bike trainers market size was valued at $162 million in 2021, and is projected to reach $362.6 million by 2031, growing at a CAGR of 6.9% from 2022 to 2031.
The components of a bike trainer normally consist of a frame, a clamp for firmly holding the bike, a roller for pressing against the back wheel, and a device for adding resistance. The trainer is mounted onto the bike that will be used, giving the user a workout that is like one from an outdoor ride but in a much more controlled setting.
Due to the COVID-19 pandemic, the GDP of all nations may likely decline. Due to limits and limitations in the supply chain brought on by the shutdown, bike trainer manufacturing facilities are encountering several difficulties. Their output will probably decrease because of these difficulties. But as people's awareness of health has grown, the bike trainers market demand has risen. Even in the midst of the pandemic, these variables are propelling the market at a significant rate. Due to the expansion of numerous industries, an increase in revenue, a rise in population, and improvements in employment and literacy rates, disposable income is rising on a global scale. Investments in leisure and health-related products are rising. Consequently, it is projected that during the forecast period, demand for bike trainers will rise.
The global bike trainers market is analyzed based on type, application, distribution channel, and region. By type, the market is divided into smart bike trainers and classic bike trainers. By application, the market is divided into training, fitness, and others. By distribution channel, it is classified into online and offline. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The classic bike trainers segment, as per type, dominated the global bike trainers market in 2021 and is anticipated to maintain its dominance throughout the forecast period. The hub of the back wheel is used to secure classic bike trainers to the bicycle. The tire is connected to a flywheel by a steel or plastic roller. Depending on the type and price, these classic bike trainers may include a magnetic, electric, fluid, or motor brake. The brake simulates different speeds and ascents while increasing resistance.
The fitness segment dominates the global bike trainers market. The increasing number of gyms and fitness facilities is one of the main factors fueling the segment's expansion. The growth of fitness clubs and gyms is the main driver of the expansion of the bike trainer market globally. Health clubs are the market leaders in both the cardiovascular and strength training areas.
The offline segment exhibits the fastest growth in the global bike trainers market. Manufacturers usually concentrate on specialized retailers to increase the visibility of their products on store shelves. This has increased the selection of bike trainers available at specialty stores. The specialty shop opportunities, which include savings and the benefit of rapid gratification, are driving the bike trainers market growth.
Region wise, North America dominated the market with the largest share during the bike trainers market forecast period. The rising rate of obesity is the main driver of the market since more people in the region are using exercise equipment like bike trainers. With rising obesity rates, more health consciousness, and increased public awareness of the benefits of bike trainers, it is expected that there will be a greater number of new fitness facilities.
Although there is a growing need for bike trainers, obesity rates are rising significantly, especially in urban areas. Globally, the number of obese people has risen considerably, according to the WHO. Globally, 13% of adults 18 and older are obese and 39% of persons are overweight. In the same year, 41 million kids under the age of five and over 340 million kids and teenagers between the ages of 5 and 19 were overweight or obese. Obesity is associated with several diseases or illnesses, such as sudden cardiac arrest, hypertension, hypotension, and diabetes. Due to its increased use among obese people, bike trainer sales are increased while also assisting with weight loss, stress management, and blood circulation.
Due to the rise in consumers who are health-conscious, there is a greater need for health clubs and gyms. The International Health, Racquet, and Sports club Association's (IHRSA) yearly surveys show a significant rise in the number of health clubs, gyms, and other fitness facilities. Due to the rise in disposable income and the growing desire to maintain a healthy lifestyle, customers are willing to pay exorbitant prices for health clubs. In 2014, there were 40,702 health clubs in the US and Canada, 46,340 in Latin America, and 46,100 in Europe. Therefore, it is projected that the market would expand as more individuals show an interest in fitness and as more health clubs & gyms become available.
Due to the stringent price restrictions placed on the market for smart bike trainers, the demand for used bike trainers has increased. To reduce costs, recently opened fitness centers and gyms choose to use used equipment for both internal and external use. In developing nations, where this tendency is most evident, smaller gyms purchase used equipment from larger gyms and training facilities. Potential members are disappointed since this quickly leads to equipment failure. Additionally, it prevents people from buying brand-new bike trainers, which in turn prevents the global market from growing.
Online shopping sites are a major force in the bike trainers market. Most companies that manufacture bike trainers currently have their own online stores where customers can learn a lot about the company, including the most recent company and product news as well as information on finances. More customers are using online shopping websites because they offer a wide range of product alternatives and price comparison tools. These benefits retailers as there are no expenses associated with maintaining physical storefronts or showrooms. One of the core aspects affecting consumers' preference for online shopping is their ability to read reviews given by other customers, contrast various retailers and products, and compare product costs from various suppliers. Thus, this provides growth prospects for the market.
Manufacturers of bike trainers are choosing to either purchase or collaborate with a cycling technology firm considering the constantly growing smart bike trainer technology. The manufacturers of smart bike trainers have a ton of potential expansion opportunities thanks to acquisitions and collaborations. Due to the high level of consumer demand for these trainers, which give riders choice in when and how they wish to exercise, smart bike trainers are still in the early stages of their growth. Smart bike trainers are connected through bike trainer apps. These apps enable the user to fully interact with the riding experience. The software offers two ways for riders to interact with the bike trainer. First, the coach, who may be located anywhere in the globe, may watch the rider's performance live due to the app. In this manner, the rider can receive appropriate instruction while riding indoors, and a supervisor can keep an eye on any changes in the rider's course. Second, the software creates a virtual sensation of riding alongside someone who may be far distant. One of the major attractions of smart bike trainer apps is the ability to ride with others inside.
The market for bike trainers is primarily driven by the huge increase in amateur riders, cycling clubs, and fitness influencers who are popularizing riding. Players in the current market are projected to concentrate on introducing new products in order to gain a firm foothold in the bike trainers industry landscape. Additionally, market players anticipate integrating new technologies to enhance the features and functions of their products in response to the rising demand for smart fitness products and equipment.
Consumers' growing awareness of health and fitness, particularly in developed nations like North America and Europe, is predicted to have a significant impact on the overall growth of the global bike trainers market over the forecast period. Recent increases in cycling enthusiasts have significantly increased the market for bike trainers, and this trend is likely to continue throughout the evaluation period. Additionally, as the overall number of bikers continues to rise, major players in the current market are putting more and more emphasis on improving the end users' pedaling experiences.
The major players analyzed for the bike trainers market are BKOOL, CA Global, Garmin Ltd., ELITE SRL, Kurt Manufacturing Company, Minoura Co. Ltd, Stages Cycling LLC, TECHNOGYM S.p.A, Wahoo Fitness LLC, Wattbike Ltd, Qingdao Magene Intelligence Technology Co., Ltd., Decathlon SA, JetBlack Cycling, Alpcour, and Feedback Sports LLC. Key players operating in the bike trainers market have adopted product launch, business expansion, and mergers & acquisitions as key strategies to expand their bike trainers market share, increase profitability, and remain competitive in the market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the bike trainers market analysis from 2021 to 2031 to identify the prevailing bike trainers market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the bike trainers market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global bike trainers market trends, key players, market segments, application areas, and market growth strategies.
Bike Trainers Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 362.6 million |
 Growth Rate | CAGR of 6.9% |
 Forecast period | 2021 - 2031 |
 Report Pages | 250 |
 By Type |
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 By Application |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | Qingdao Magene Intelligence Technology Co., Ltd., Kurt Manufacturing Company, BKOOL, S.L., Technogym S.P.A., Decathlon SA, CA Global, Garmin Ltd., MINOURA Co.,Ltd., Wahoo Fitness LLC, Feedback Sports LLC, Wattbike Limited, Stages Cycling LLC, JetBlack Cycling, Elite S.r.l., Alpcour |
Analyst Review
The perspectives of the leading CXOs in the bike trainers market are presented in this section. The CXOs claim that the market for bike trainers is expanding quickly due to rapid urbanization. The market for bike trainers is positively impacted by high e-commerce sales channels, increase in frequency of health-related issues, manufacturers' smart strategic marketing initiatives, and growth in disposable income in developing nations. The advancements in the equipment also give market players attractive prospects during the forecast period.
According to CXOs, one of the key factors fueling the growth of the bike trainers market is the global upsurge in health consciousness. The market is growing quickly due to the rise in the usage of stationary bike trainers as fitness equipment by both adults and children and due to the lack of parks and wide roads for riding in major cities. The emergence of the bodybuilding, skin-toning, and strength-training trends as well as the expansion of gyms in developed and developing cities have a further impact on the industry.
In 2020, bike trainer sales increased as a result of global mobility limitations. This resulted in an increase in the sales of bike trainers because of consumers' rising propensity to buy home fitness equipment. Due to the lockdown restrictions and concern over COVID-19, online sales of bike trainers also increased significantly. As a result, internet sales channels are where most individuals buy bike trainers. Bike trainer sales suddenly increased in 2020, primarily in developed nations like North America and Europe.
The global bike trainers market size was valued at $162.0 million in 2021, and is projected to reach $362.6 million by 2031, registering a CAGR of 6.9% from 2022 to 2031.
The forecast period in the bike trainers market report is 2022 to 2031.
The base year calculated in the bike trainers market report is 2021.
The top companies analyzed for global bike trainers market report are BKOOL, CycleOps, Garmin Ltd., ELITE, Kurt Manufacturing Company, Minoura, Saris, Stages Cycling LLC, TECHNOGYM S.p.A, Wahoo Fitness, Wattbike, Giant, Decathlon, Recreational Equipment Inc., and Feedback Sports LLC.
The classic bike trainers segment is the most influential segment in the bike trainers market report.
North America holds the maximum market share of the bike trainers market.
The company profile has been selected on the basis of key developments such as partnership, product launch, merger and acquisition.
The market value of the bike trainers market in 2021 was $162.0 million.
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