PUNE, India, June 13, 2023 /PRNewswire/ — According to a recent market study published by Growth Market Reports, titled, “Global Bike Trainer Market Segments – By Product Type (Classic Bike Trainers, Smart Bike Trainers, Roller Bike Trainers/ Rollers), By Applications (Training, Fitness), By Distribution Channel (Online, Offline), By Resistant Types (Magnetic, Fluid, Direct Drive, Others), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031“, the market size was USD 777.98 million in 2022 and is expected to surpass USD 1804.63 million expanding at a CAGR of 9.8% by the end of 2031. Growing consumer inclination towards home fitness equipment purchases is anticipated to fuel the market during the forecast period.
Key Market Players Profiled in the Report
- Blackburn
- ELITE
- Garmin Ltd.
- Kurt Manufacturing Company
- Peloton Interactive, Inc.
- Saris
- Stages Cycling, LLC
- TECHNOGYM S.p.A
- Wahoo Fitness
- Wattbike
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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics. It provides an in-depth analysis of the market segments, which include product type, applications, distribution channel, resistant types, and competitor analysis.
This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.
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Segment Highlights:
On the basis of region, the global bike trainer market is classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is projected to dominate the global market owing to rising awareness about health and fitness in the region.
Asia Pacific is expected to be a rapidly growing region in the global market during the projected period, due to the increasing disposable income of people in the region.
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Key Takeaways from the Study:
- Bike trainer sale is increased online due to the restriction of lockdown and fear of COVID-19.
- Rising disposable income is expected to propel the market during the forecast period.
- Increasing awareness about health and fitness is anticipated to fuel the market in the coming years.
- Growing trend of cycling e-sports is likely to create lucrative opportunities for market players.
- The classic bike trainers segment is projected to expand at the fastest CAGR during the forecast period owing to its low cost.
- The training segment is anticipated to hold a major market share due to the growing use of bike trainers by professionals.
- The online sales segment is expected to dominate the market during the forecast period, due to the lockdown in countries, mobility restrictions, and fear of going outside because of the COVID-19 pandemic.
Read 256 Pages Research Report with Detailed TOC on “Global Bike Trainer Market Segments – by Product Type (Classic Bike Trainers, Smart Bike Trainers, Roller Bike Trainers/ Rollers), By Applications (Training, Fitness), By Distribution Channel (Online, Offline), By Resistant Types (Magnetic, Fluid, Direct Drive, Others), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031″
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Key Segments Covered
Product Type
- Classic Bike Trainers
- Smart Bike Trainers
- Roller Bike Trainers/ Rollers
Applications
Distribution Channel
Resistant Types
- Magnetic
- Fluid
- Direct Drive
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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