Indoor Bike Trainers Market Size, Share, Growth, and Industry Growth by Type (Smart Bike Trainers and Classic Bike Trainers) By Application (Online Channels and Offline Channels), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

INDOOR BIKE TRAINERS MARKET REPORT OVERVIEW

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global indoor bike trainers market size was USD 125.86 million in 2021 and market is projected to touch USD 236.4 million by 2031 at CAGR 6.51% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with indoor bike trainers experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Equipment that is frequently used for doing out is referred to as "indoor bike trainers." In addition to handlebars like those on a stationary cycle, the apparatus includes pedals, a saddle, and other components. Before a race, it's common practice to warm up on a bike trainer, and utilizing a smart trainer greatly enhances the enjoyment of indoor riding.

COVID-19 Impact: Closure of Product’s Manufacturing, Marketing and Sales to Hinder the Market

There has been a significant disruption for both buyers and sellers as a result of the COVID-19 pandemic, which has slowed the expansion of worldwide industries. Markets and production facilities are closing down all over the world, which has halted the product's manufacture, marketing, and sales. Additionally, it has given the businesses a chance to consider how to maintain their connections with their supplier chains and their long-term business plans.

LATEST TRENDS

"Increase in Health Consciousness  to Impel the Market Growth"

One of the main reasons propelling the growth of the indoor bike trainer market is the increase in health consciousness throughout the globe. Due to the lack of parks and open roads for riding in major cities, the market development is accelerated by the rise in the usage of stationary bike trainers as exercise equipment among adults and children as well as the increase in the number of stationary bike trainer purchases. The development in the popularity of bodybuilding, skin toning, and strength training as a means of developing an alluring personality, as well as the expansion of gyms in tier 1 and tier 2 cities, have a further impact on the market.

Additionally, the market for indoor bike trainers is favorably impacted by high e-commerce sales channels, an increase in health-related concerns, manufacturers astute strategic marketing initiatives, and a growth in disposable income in emerging nations. Additionally, improvements to the product provide up lucrative prospects for market participants during the projection period.

INDOOR BIKE TRAINERS MARKET SEGMENTATION

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• By Type Analysis

By type, market is segmented into smart bike trainers and classic bike trainers. The smart bike trainers’ segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into online channels and offline channels. The online channels segment will lead the global share through 2031.

DRIVING FACTORS

"Concentration on Creating New Goods to Propel the Market Demands"

The top competitors in the industry have introduced new goods with enhanced capabilities. They have made the essential actions to increase the devices' overall functioning and accuracy. Because there are different demands depending on usage, manufacturers have been concentrating on creating new goods for certain applications. As a result of manufacturers' technology innovation and improvement, bike trainers that are compatible, cheaper, and have better features are now available. Examples include the Direto X, Tuo wheel on trainer, and Elite steering indoor trainers, which are three new items from Elite, a maker of bike trainer equipment. The accuracy of the onboard power meter has improved, and the new goods offer longer derailleur cage support and greater inclination simulation.

"E- Sport Championships to Boost the Market Demands"

The most important piece of gear for riding in e-sports is a bike trainer. Both the final e-sport cycling championships and cycling practices use it. In the upcoming years, the industry will gain traction thanks to the growth of e-sport cycling competitions. For instance, Zwift and UCI announced their cooperation to organize the first-ever cycling e- sports world championships with the purpose of creating an e-sport platform and a brand-new, cutting-edge cycling discipline. The competition was slated to take place in 2020.

RESTRAINING FACTORS

"Expensive Initial Investments to Challenge the Market Growth"

The market's growth is anticipated to be hindered by the expensive initial investment. The market for indoor bike trainers is anticipated to face challenges during the forecast period due to the high level of manufacturer competition.

INDOOR BIKE TRAINERS MARKET REGIONAL INSIGHTS

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"North America’s Global Indoor Bike Trainer Market Share to Grow Exponentially"

The market for indoor bike trainers is dominated by North America due to the region's high level of awareness. Because of the increase in disposable income in the area, Asia-Pacific is anticipated to have strong development throughout the projection period.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Aosom (U.S.)
• Kurt Kinetic (U.S.)
• Feedback Sports (U.S.)
• Graber (U.S.)
• Wahoo (UK.)
• Tacx (Netherlands)
• CycleOps (U.S.)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.