Indoor bicycle trainer refers to an equipment device that uses technical means to simulate various real situations that may be encountered in outdoor riding, and provides cycling training for professional and amateur riders. According to the different devices that provide resistance inside the system, indoor bicycle trainers can be divided into six categories: wind type, fluid type, magnetic type, direct drive type, roller type and intelligent type.
Here's how they work:
Wind-powered, where the cyclist provides power to the fan and the fan provides resistance, Magnetic, where the magnetic flywheel in the device provides fixed resistance, Fluid, which provides resistance by silicon inside the unit, Direct-drive, where the bicycle is connected to a flywheel mounted on the platform through a chain and transmits power, which generates a simulated feeling of momentum at the rear wheel through a built-in mass flywheel that continues to roll until its inertia is exhausted, Roller type, which is completely different from the above four types, in which the independent bicycle is balanced on top of the three rollers, and Intelligent, which is the resistance of this type of trainer, tilt and drop to make the user feel more realistic, and it can also be connected in real-time with interactive training so that users can do their riding training with an elite personal trainer.
Each of these six types of products has its own characteristics. The wind-powered ones are the cheapest but will be noticeably noisy in use, the magnetic trainers are not only affordable and low-noise, but the fixed resistance characteristics of the product are not ideal for many professional cyclists, the fluid trainers are quiet, the resistance is adjustable, but they are more expensive, the direct-drive trainers are largely successful in creating a more realistic road feel, the roller type is difficult to control due to the need for precise pedal travel to maintain balance, and the smart trainers are the most practical and expensive trainers.
Among them, intelligent products are the most widely used and account for the highest proportion of the market. In 2020, its market share was 37.45%.
From the perspective of different application fields, the users of indoor bicycle trainers are divided into two categories: professional players and amateurs. The market share of amateurs is higher than that of professional players, with a market share of 58.37% in 2020, compared to 41.63% for professional players. In addition, with the increasing health awareness of people, indoor bicycle trainers will become more and more popular, and the proportion of amateurs in this industry will continue to rise in the future.
The development status and prospect of the global indoor bicycle trainer industry market
According to our research, the total revenue of the global indoor cycling trainer market was $130.54 million in 2015, $174.11 million in 2019, and increased to $179.46 million in 2020, with the market revenue increasing year by year. Based on this, we did a series of functional operations, calculated and analyzed the data from 2015 to 2020 with scientific models, and deduced the data for the next 6 years. Finally, we expect the indoor cycling trainer market to be worth $266.36 million by 2026. From 2020 to 2026, the CAGR is 7.71%.
North America is the largest revenue market for the industry, with a market share of 59.73% in 2015 and 55.72% in 2020, a decline. In 2020, the European region ranked second with a market share of 28.29%. Moreover, the cycling trainer market in the Asian region is expected to be a growing market. Its market share increased from 8.67% in 2015 to 9.67% in 2019 and then to 10.05% in 2020, showing an upward trend year by year.
The global indoor bicycle trainer companies are mainly from the United States, and the industry concentration rate is high. The top three companies are Tacx (Garmin Ltd.), Soris (CycleOpsde), and Wahoo Fitness. In 2020, the market shares of the three companies were 21.58%, 14.26%, and 11.84%, respectively.
Less affected by the epidemic, the future development trend of the global indoor bicycle trainer industry is good
From the end of 2019 to the beginning of 2020, the outbreak of the new crown epidemic has seriously affected the development of many industries and stagnated. The indoor bicycle trainer industry was less affected, with total market revenue in 2020 rising from 2019 to US$179.46 million. In addition, after the epidemic, people's health awareness has been enhanced to a certain extent, and more and more people pay attention to physical fitness, which will also promote the development of the indoor bicycle trainer industry to a certain extent, so the future development trend of the industry is good.
The growth of the indoor cycling trainer market is driven by the downstream demand market. As the global economy continues to grow and the population continues to increase, so will the demand. The growing market demand has played an active role in expanding the indoor bicycle trainer market. At the same time, however, competition in new regions is likely to be more intense. This is likely to be a factor hindering the market growth. There are already a large number of mature products on the market, and it will be very difficult for new entrants to gain a foothold in the industry. Therefore, companies need to improve the quality of their products and set reasonable, competitive prices to highlight their advantages.