July 21, 2024

Fitness enthusiasts’ growing focus on cardio exercise to drive demand for Upright Exercise Bikes

An upright exercise bike is a stationary fitness equipment that mimics the movement of traditional road or mountain bikes and allows riders to perform a cardio exercise while remaining in an upright seated or standing position. Compared to recumbent bikes, upright bikes offer more stability and engage the core muscles to a greater extent. They simulate an outdoor cycling experience indoors and help burn calories efficiently. The upright bike’s flywheel and adjustable resistance levels provide varying levels of workout intensity for users.

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 key trends:

One of the key trends in the upright exercise bike market is the growing popularity of multifunctional bikes that offer additional exercise regimes along with cycling. Manufacturers are introducing upright bikes equipped with touchscreens that allow accessing virtual cycling classes and workout videos on-demand. Some models come integrated with heart rate monitors and Bluetooth connectivity to sync workout data with fitness apps. Additionally, new product launches featuring lightweight yet durable frames, ergonomic designs, and quiet belt drives are gaining traction among fitness enthusiasts focusing on low impact cardio exercises at home or in gyms.

Porter’s Analysis

  • Threat of new entrants: Low- High capital requirement for manufacturing and existing major players occupying major share poses entry barriers for new players.
  • Bargaining power of buyers: Moderate – Presence of substitutes like recumbent and stationary bikes limits buyers power but growing health awareness enhances demand.
  • Bargaining power of suppliers: Low – Upright bike manufacturing requires common components availability and presence of numerous suppliers limits their bargaining power.
  • Threat of new substitutes: Moderate – Other cardio equipment like treadmills, elliptical pose threat but upright bikes are cost-effective option for home use.
  • Competitive rivalry: High – Major players compete on technology, design, pricing which induces innovation.

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 rising obese population globally.

Regional analysis – North America dominates the upright exercise bike market share currently. However, Asia Pacific region is expected to witness fastest growth aided by growing health consciousness in major counties like China and India.

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