Bike Trainers Market Is Expected to Garner $362.6 Mn by 2031, Globally: Allied Market Research
The growth of the global bike trainers market is driven by increase in amateur riders, cycling clubs, and fitness influencers who are popularizing riding and consumers’ growing awareness of health and fitness, particularly in developed nations like North America and Europe.
Wilmington, Delaware, Nov. 06, 2023 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global bike trainers market was valued at $162.0 million in 2021, and is registered to hit $362.6 million by 2031, projecting a CAGR of 6.9% from 2022 to 2031. The report provides a comprehensive study which focuses on top segments, key investment pockets, value chains, changing market trends, regional landscape, and competitive scenario.
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Report coverage & details:
|Market Size in 2021||$162.0 Million|
|Market Size in 2031||$362.6 Million|
|No. of Pages in Report||250|
|Segments Covered||Type, Application, Distribution Channel, and Region|
|Drivers||Increase in amateur riders, cycling clubs, and fitness influencers who are popularizing riding|
|Integration of new technologies to enhance the features and functions of their products
Rising demand for smart fitness products and equipment
|Consumers’ growing awareness of health and fitness, particularly in developed nations like North America and Europe|
|Opportunities||Rise in government initiatives towards sports activities and events|
|Restraints||High cost of smart bike trainers|
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The report provides a detailed segmentation of the global bike trainers market based on type, application, distribution channel, and region.
On the basis of type, the classic bike trainers segment garnered the largest share in 2021, accounting for nearly three-fifths of the global bike trainers market and would lead the trail through 2031. However, the smart bike trainers segment is expected to grow with the fastest CAGR of 8.2% during the forecast period.
On the basis of application, the training segment is estimated to witness the fastest CAGR of 7.7% during the forecast period. The fitness segment held the largest share in 2021, capturing more than half of the global bike trainers market, and would rule the roost through 2031.
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On the basis of distribution channel, the offline segment held the largest market share, accounting for more than three-fifths of the global bike trainers market in 2021 and is expected to maintain its dominance during the forecast period. The online segment is estimated to capture the fastest CAGR of 7.2% through 2031.
Leading key players : BKOOL, CA Global, Garmin Ltd., ELITE SRL, Kurt Manufacturing Company, Minoura Co. Ltd, Stages Cycling LLC, TECHNOGYM S.p.A, Wahoo Fitness LLC, Wattbike Ltd, Qingdao Magene Intelligence Technology Co., Ltd., Decathlon SA, JetBlack Cycling, Alpcour, and Feedback Sports LLC.
In terms of region, the market in North America captured the dominant share in 2021, accounting for more than one-third of the global bike trainers market share and is expected to maintain its leadership status during the forecast period. However, the market in Asia-Pacific is likely to register the highest CAGR of 8.3% from 2022 to 2031.
Country Reports We Have in this Industry:
Mexico Bike Trainers Market: Opportunity Analysis and Industry Forecast, 2021-2031
Canada Bike Trainers Market: Opportunity Analysis and Industry Forecast, 2021-2031
Europe Bike Trainers Market: Opportunity Analysis and Industry Forecast, 2021-2031
UK Bike Trainers Market : Opportunity Analysis and Industry Forecast, 2021-2031
Italy Bike Trainers Market: Opportunity Analysis and Industry Forecast, 2021-2031
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