March 1, 2024

The Rising Demand for In-Home Exercise is anticipated to openup the new avenue for Upright Exercise Bike Market

An upright exercise bike is a stationary bicycle that allows its rider to sit in an upright position to simulate road biking, spin cycling, or similar activities. Upright bikes comes with adjustable resistance levels, LCD monitors to track workout metrics like time, distance, speed, calories burned, and heart rate. The bikes have comfortable padded seats and handlebars to ensure ergonomic workouts. They are increasingly popular choice for active adults seeking low-impact cardio exercises at home.

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 Dynamics:

The key driver for upright exercise bike market is the increasing health awareness and focus on preventive healthcare by consumers. The sedentary lifestyle coupled with hectic schedules has led to rise in lifestyle diseases like diabetes, heart diseases and obesity. Upright bikes provides convenient and effective low-impact workout solution for consumers to maintain fitness from the comfort of their homes. Another driver is the rising trend of home-based workouts owing to convenience, accessibility, and safety concerns post-COVID-19. Consumers are preferring connected fitness equipment with integrated technologies like apps and virtual classes to add variety and engagement to indoor workout routines. This has further fueled the demand for technologically advanced upright bikes with in-built monitors, apps etc.

Segment Analysis

The upright exercise bike market can be segmented on the basis of end use as residential and commercial. The residential segment dominates the market as upright exercise bikes are becoming highly popular home fitness equipment, especially post-Covid. Upright bikes take less space than other cardio equipment like treadmills and elliptical, making them ideal for small homes and apartments.

PEST Analysis

  • Political: No major political factors affecting the market.
  • Economic: Rising health awareness and disposable incomes in developing nations is driving demand. High obesity rates in developed nations also encourage fitness equipment adoption.
  • Social: Changing lifestyles have increased stress levels, prompting people to focus on health and wellness. Social media has created awareness about fitness.
  • Technological: Advancements like Bluetooth connectivity, wider LCD screens and mobile apps have enhanced user experience on upright bikes. Some models offer virtual coaching and classes.

Key Takeaways

The global upright exercise bike market is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing health awareness and obesity concerns. The market size for 2023 is estimated at US$ 1.91 Bn.

Regional analysis – North America dominates the market currently due to higher disposable incomes and higher obesity rates. However, Asia Pacific is expected to witness the fastest growth due to rising health expenditure, growing middle class and increasing fitness infrastructure in countries like China and India.

Key players operating in the upright exercise bike market include 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. These companies focus on technological innovations and product development to strengthen their market presence.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it