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 Overview:
Upright exercise bikes are stationary bikes designed to closely mimic the mechanics and positioning of a regular road bike. They provide a low-impact cardiovascular workout and aid in burning calories. Upright exercise bikes are beneficial for overall health and fitness as regular cycling can help in reducing risks of various cardiovascular diseases and obesity.

Market key trends:
Rising health consciousness among people and growing preference for workout from the comfort of home are major factors driving growth of the upright exercise bike market. According to International Health, Racquet & Sportsclub Association (IHRSA), the number of health club memberships grew from over 57 million in 2017 to over 62 million in 2019 globally. Upright exercise bike provides full-body, low-impact workout in small space of home and eliminates traveling time to gym, thus gaining popularity. Furthermore, growing awareness regarding health benefits associated with regular exercising is supplementing demand for upright exercise bikes. Companies are also launching technologically advanced upright bikes integrated with functions like Bluetooth connectivity, LCD displays and access to virtual cycling trainings through subscription services, in order to make workouts more engaging. Such innovations are propelling market expansion.

Porter’s Analysis
Threat of new entrants: Low, as the market requires significant capital investment. Bargaining power of buyers: High, as there are many established brands offering exercise bikes at competitive prices. Bargaining power of suppliers: Moderate, as raw material suppliers have established relationship with key manufacturers. Threat of new substitutes: Moderate, as other cardiovascular equipment like treadmills, elliptical machines can be used as substitutes. Competitive rivalry: High, as the market is dominated by global and regional players competing on the basis of product features, pricing and branding.

SWOT Analysis

Strengths: Dedicated upright exercise bikes offer low impact cardio workout and monitors user performance.

Weaknesses: Higher price point compared to other cardio machines. Require relatively large floor space.

Opportunities: Growing health and fitness trends has increased demand for home gym equipment.

Threats: Intense competition from substitutes like elliptical machines, treadmills offering full body workout.

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 consciousness among consumers.

North America dominated the upright exercise bike market in 2023 with highest revenue share of around 30%, owing to high penetration of home fitness equipment in countries like United States and Canada.

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.