Transparency Market Research delivers key insights on the global turbo trainer market. In terms of revenue, the global turbo trainer market is estimated to expand at a CAGR of 5.5% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global turbo trainer market report.
In this market report, TMR predicts the growing commercial fitness centers and gymnasiums across the globe to have a noteworthy impact on the overall turbo trainer market. Rising focus on maintaining body fitness, along with the trend of using indoor personal training equipment is likely to propel the turbo trainer market in the Asia Pacific region.
Turbo trainer is a fitness equipment that helps end users in pedaling a stationary bike indoors. It offers a cyclist a great substitute for outdoor training, which is effective among users in unseasonal climatic conditions. A few turbo trainers automatically get harder as it pedals quicker. On the other hand, other trainers are adjusted manually, normally by using a lever that holds handlebars. Turbo trainers with versatile properties have gained momentum in recent years.
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Rising awareness among users to maintain their body fitness has encouraged them to opt for turbo trainers. Turbo trainer is found to be an essential indoor fitness equipment among users, as it helps to burn calories and helps gain more strength to the lower part of the body. This is influencing the growth of the turbo trainer market. The rising number of commercial gyms, fitness centers, and clubs across the globe is also promoting the sales of turbo trainers. In addition, users are personally opting for smart turbo trainers in order to improve their fitness, speed, and overall cycling performance.
The rising popularity of turbo trainers in fitness training programs and its ability to perform with multi-functional activities is also likely to augment demand in the upcoming years. The increasing number of professional cyclists, along with commercial fitness centers is an opportunity for the turbo trainer market. Suppliers may also sponsor cycling competitions across the globe in order to gain attention of the users about their product. In addition, suppliers tend to collaborate with commercial spaces such as gymnasiums and fitness centers in order to provide them with customized solutions and increase the sales of their product.
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Turbo Trainer: Market Segmentation
In terms of product type, the turbo trainer market has been segmented into wheel-on turbo trainer and direct drive turbo trainer. During the forecast period, the turbo trainer market is anticipated to be dominated by the wheel-on turbo trainer segment. Based on end user, the turbo trainer market has been bifurcated into personal and commercial. Furthermore, the commercial segment is sub-divided into gymnasium and others. In recent years, users are opting for turbo trainers for personal usage to improve their cycling performance, which is likely to drive the market. In addition, users are also buying turbo trainers through eCommerce websites after lockdown of commercial and social spaces, owing to the impact of COVID-19. This also drives the growth of the turbo trainer market.
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Based on price category, the turbo trainer market has been segregated into below US$ 200, US$ 200-US$ 300, US$ 300-US$ 400, US$ 400-US$ 500, US$ 500-US$ 600, US$ 600-US$ 700, US$ 700-US$ 800, US$ 800-US$ 900, US$ 900-US$ 1,000, and above US$ 1,000. In addition, the turbo trainer market on the basis of distribution channel is categorized into online and offline, wherein the online category is sub-segmented into company websites and eCommerce websites, and offline is sub-segmented into specialty stores, hypermarkets & supermarkets, and others.
Turbo Trainer Market: Prominent Regions
Asia Pacific led the turbo trainer market in 2019 and the region is expected to retain its dominance during the forecast period. China, Japan, and India are considered major markets for turbo trainers in Asia Pacific. Apart from Asia Pacific, Europe also significantly contributes to the growth of the global turbo trainer market. A growing gymnasium sector and fitness centers, along with rising participation of cyclists in professional indoor training is likely to create a demand for turbo trainers in Europe. In addition, rapid growth in demand for smart equipment in developed countries such as the U.K., Germany, Italy, and France is influencing end users to opt for smart direct drive turbo trainers. This is also a major factor driving the turbo trainer market.
Turbo Trainer Market: Key Players
The competition landscape of the turbo trainer market is moderately fragmented with leading players accounting for majority of the revenue share. Key players operating in the global turbo trainer market include Elite, JetBlack Cycling., Kurt Manufacturing, Tacx B.V., Wahoo Fitness L.L.C., Technogym s.p.a., Cannondale Bicycle Corporation, and MINOURA Co., Ltd.