Global Turbo Trainer Market Overview
The key driver impacting the turbo trainer market is the lack of physical activity across the globe leads to high cases of obesity and overweight among people around the world. For instance, According to the World Health Organization, Globally, 1 in 4 adults do not meet the global recommended levels of physical activity. There were 1.9 billion adults aged 18 years and older, were overweight in 2016. Among these, about 650 million people were obese. Every year, around 5 million deaths could be prevented if the worldwide population became more active Insufficiently active people have a 20% to 30% increased risk of death than sufficiently active people. This leads to increased awareness among individuals for fitness; more & more people want to spend time and money on physical activity and thus are estimated to look for turbo trainers for indoor fitness training. Globally, physical activity spending averages about $306 per participant per year, with $136 spent on participating in activities and $172 spent on apparel, footwear, equipment, sporting goods, and technology devices and services as per the global wellness institute organization report 2019. Moreover, the rising popularity of fitness equipment in commercial spaces like institutions, businesses, residential parks, gymnasium centers, & sports training centers contributes to market growth in the forecast period.
According to Value Market Research, the global turbo trainer market size was valued at around USD 375 million in 2020 and is estimated to grow at a CAGR of about 5.5% during the forecast period 2021 to 2027.
The high growth in the fitness industry due to the rising popularity of fitness training programs is, estimated to augment turbo trainer demand in the forecast period. For instance, The 2019 IHRSA report estimations show, that the total industry revenue was $96.7bn in 2019, increased from $94bn in 2018. And it is growing with a growth rate of 2.9% globally. As a result, health clubs are on pace to reach 230 million members by 2030. However, the high production cost of equipment may hamper the market in the long run. The growing geopolitical tension, which affects the supply chain cycle and increases trade barriers, negatively impacts the market. The current industry trends, such as the ever-increasing research &Development activities to develop technically advanced equipment & supportive training facility initiatives, and rising eCommerce platforms for the sale of turbo trainers, are expected to provide market players with new market opportunities.
The turbo trainer market is vast, with many local and global players. The turbo trainer market is extensive, with many local and international players. The key leaders follow different strategies to advance their market position, such as extending product portfolio, amalgamation, contracts, product upgrades, and acquisitions, to enlarge their market share across the globe. For instance, In April 2020, Garmin Ltd. acquired the privately held Dutch company Tacx B.V., which designs and manufactures indoor bike trainers, indoor training software and applications, and tools and accessories. The significant players studied in the report are Elite, Kurt Manufacturing, JetBlack Cycling, JetBlack Cycling, MINOURA Co., Ltd, and Taco B.V.
In this research report, the turbo trainer market is segmented by type, end-user, and region.
Analysis by Type:
By type, the report is categorized into Classic trainers and Smart trainers. The classic trainer dominates the type segment with over 35% share in 2020. It is due to the increase in the number of cycle enthusiasts and awareness about cycling's health benefits. Moreover, the popularity of fitness equipment and the wide availability of classic trainers contribute to the high demand for classic trainers in the forecast period.
Analysis by End-User:
By end-user, the report is categorized into Personal and Commercial (Gymnasium and Others). The commercial sector dominates the end-user segment with over 55% share in 2020. It is due to the increasing use of turbo trainers in the commercial industry, such as businesses, residential parks, gymnasium centers, & sports training centers. Moreover, the rapidly growing number of health and fitness clubs and the constantly changing lifestyle of individuals are expected to drive the market demand from the retail and consumer sector in the forecast period.
Analysis by Region:
In the regional outlook of the global turbo trainer market, the Europe region dominates globally with a 35% market share during the forecast period. It is due to the surge in the number of cycling enthusiasts in recent years that have increased the demand for turbo trainers by a considerable margin. Moreover, the high obesity rate in the U.K. and increasing awareness for fitness contribute to its growth across Europe.
Market Segmentation covered in the Report:
By Type
- Classic Trainers
- Smart Trainers
By End-User
- Personal
- Commercial [Gymnasium and Others]
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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