by The global 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 motorized or non-motorized stationary bicycles in the upright position meant for indoor cardio exercises. They help improve cardiorespiratory endurance, strengthen core muscles, and promote better posture. As sedentary lifestyles rise globally due to increasing desk jobs and digitalization, demand for upright bikes is growing as they provide low-impact cardiovascular workout from home. Their upright seating position avoids long-term back strain associated with recumbent or semi-recumbent positions.
Market key trends:
One of the major trends in the upright exercise bike market is the introduction of interactive models integrated with virtual reality and AI coaching programs. These smart bikes track fitness progress and connect to mobile apps to enable on-demand or virtual group classes. Manufacturers are also offering extra large seat cushions, adjustable handlebars, and other ergonomic features to make upright bikes accessible for users of varying heights and abilities. Growing health awareness is driving demand for multi-functional bikes with additional strength and yoga accessories. Increasing investments by major players to develop affordable high-tech options will further support the market expansion through the forecast period.
Porter’s Analysis
Threat of new entrants: The established brands and high initial investment required for R&D act as a barrier for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitute products however loyalty towards premium brands provide stability.
Bargaining power of suppliers: Suppliers have low to moderate power due to availability of alternate suppliers and contractual agreements.
Threat of new substitutes: Substitute options like treadmills, stationary bikes pose minimal threat as upright bikes offer low impact workout.
Competitive rivalry: Intense competition exists among key global players to gain market share.
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 and preference for cardio workouts at home.
Regional analysis: North America dominates the market followed by Europe and Asia Pacific. The American market is expected to grow at fastest pace due to growing obese population preferring low impact exercises.
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
