by The Upright Exercise Bike Market is estimated to be valued at US$ 1.91 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Upright exercise bikes are stationary exercise equipment that simulates outdoor or indoor cycling. They are upright bicycles with stationary frames, adjustable magnetic or air resistance mechanisms, and mounted computer displays to track metrics like time, distance, calories burned, and resistance level. Upright exercise bikes offer low-impact cardiovascular exercise and are suitable for people of all fitness levels and physical abilities. They are commonly used in homes, gyms, and rehabilitation/physical therapy centers.
Market Dynamics:
The growing health and fitness consciousness among consumers and rising awareness about preventive healthcare are expected to drive the growth of the upright exercise bike market. According to surveys, over 65% of American adults now own some type of fitness equipment for home use. Additionally, advancements in technology are positively impacting the market. Major manufacturers are focusing on integrating user-friendly connectivity features in exercise bikes. Connected upright bikes can sync workout data with smartphones and fitness apps via Bluetooth or Wi-Fi. This allows users to access online workout classes and compete/compare performance metrics with others. The rising demand for personalized and digital fitness experiences is fueling the demand for connected exercise machines.
Segment Analysis
The upright exercise bike market can be segmented based on distribution channel, end-use, and geography. Based on distribution channel, the market is dominated by offline channels segment which accounts for over 60% share due to availability of wide range of products and offers like discounts. Based on end-use, the commercial segment dominates with over 55% share as exercise bikes find significant adoption in gyms, fitness clubs, and hotels to help users maintain fitness.
PEST Analysis
Political: Favorable government policies promoting healthy lifestyles and fitness have boosted the market. Economic: Rising income levels and health consciousness have driven demand. Social: Increased awareness about fitness and adoption of home workouts have propelled growth. Technological: Advancements like connected bikes with apps and virtual reality have enhanced user experience.
Key Takeaways
The Global Upright Exercise Bike Market Size is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing health consciousness. The North American regional market dominates with over 35% share owing to high awareness levels and availability of wide range of premium products in the US and Canada. Key players operating in the upright exercise bike market are Nautilus Inc., Brunswick Corporation, Core Health & Fitness LLC, True Fitness Technology Inc., Johnson Health Tech Co., Ltd., Amer Sports Corporation, Cybex International Inc., Technogym SpA, Icon Health & Fitness Inc., Impulse (Qingdao) Health Tech Co. Ltd., Torque Fitness LLC, HOIST Fitness Systems Inc., Tunturi New Fitness B.V., Precor Inc., JERAI FITNESS PVT. LTD., SHUA Fitness, YOSUDA, Schwinn, Marcy, Exerpeutic.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
