Spinning is fastest growing segment fueling the growth of the global Upright Exercise Bike Market


The global Upright Exercise Bike Market is estimated to be valued at US$ 1.91 Billion 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, also known as stationary bikes, are used for cardiovascular training. They help in burning calories and building lower body strength. The spinning segment, which includes bikes used for indoor cycling classes, is growing rapidly due to gains in popularity of group fitness classes focused on cardio and strength training.

Market key trends:
One of the key trends driving the upright exercise bike market growth is the rising popularity of spinning exercises among health-conscious consumers. Spinning classes are gaining footholds across gyms and fitness studios as they provide an effective full-body workout in a group setting leading to increased motivation levels. The spin classes help in burning over 500 calories in just 45-60 minutes of rigorous pedaling synchronized with motivational music. Moreover, these classes aid in toning the legs, glutes and thighs along with improving cardiorespiratory endurance. The social and competitive environment offered in the classes has further bolstered their preference over independent cycling. This growing preference for group indoor cycling is majorly fueling the sales of spinning bikes used in the classes and thereby, augmenting the overall market expansion.

Segment Analysis
The global upright exercise bike market is segmented on the basis of product type into magnetic upright exercise bike, belt drive upright exercise bike. Among these, the magnetic upright exercise bike segment held the largest market share in 2021. Magnetic upright exercise bikes provide smooth and quiet operation without any mechanical linkages. Additionally, they require low maintenance as there are no belts to replace which makes them preferable over belt drive bikes.

Key Takeaways
The global upright exercise bike market size is expected to reach US$ 2.57 billion by 2030, exhibiting a CAGR of 6.2% over the forecast period. The growing health awareness among people and growing obesity rates are expected to drive the demand for upright exercise bikes.

Regional analysis
North America held the largest share of the upright exercise bike market in 2021. The region's growth can be attributed to high consumer spending on health and fitness equipment. Asia Pacific is expected to witness the fastest growth over the forecast period owing to growing obesity problems and increasing income levels in developing countries such as China and India.

Key players
Key players operating in the upright exercise bike market include Nautilus Inc., Brunswick Corporation, Core Health & Fitness LLC, True Fitness Technology Inc., and Johnson Health Tech Co., Ltd. Nautilus Inc. and Brunswick Corporation account for a major market share owing to their well-recognized brands and wide distribution networks globally.

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