Turbo Trainer Market Worth $300+ Mn, Globally, by 2028 at 3.9% CAGR, Driven by Increased Demand for Smart Turbo Trainer, Surging Demand for Fitness and Training Equipment | The Insight Partners

NEW YORK, Oct. 12, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Turbo Trainer Market Size, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type, Distribution Channel, and Geography," the global turbo trainer market size is expected to grow from USD 248.17 million in 2022 to USD 311.92 million by 2028; it is expected to grow at a CAGR of 3.9% from 2022 to 2028.

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Global Turbo Trainer Market Report Scope, Segmentations, Regional & Country Scope:

Browse key market insights spread across 131 pages with 58 list of tables & 71 list of figures from the report, "Turbo Trainer Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Regular Trainers and Smart Trainers) and Distribution Channel (Specialty Stores, Online Retail, and Others)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/turbo-trainer-market

Global Turbo Trainer Market: Competitive Landscape and Key Developments

Elite; Garmin Ltd.; Kurt Manufacturing; Minoura Co. Ltd.; Nautilus, Inc.; Saris; Technogym SpA; Wahoo Fitness; Jetblack Cycling; and Wattbike Ltd. are a few of the prominent players operating in the Turbo Trainer market.

Turbo trainers are stationary devices that are hooked to a bicycle to provide resistance and replicate the feeling of riding on roads. Apart from their use as fitness equipment, turbo trainers are used for conducting the training of cyclists. The demand for turbo trainers especially increased after the global outbreak of COVID-19, post which consumers could not head out for cycling due to lockdown measures. As a result, many cyclists and fitness enthusiasts had to use Turbo Trainers to continue with their fitness and practice regimes. Moreover, as the popularity of Turbo Trainer has increased, many cyclists are opting for Turbo Trainers as they are useful in harsh weather conditions such as heavy rains and cold weather wherein outdoors are not safe for cycling.

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In 2021, North America accounted for the largest share of the global Turbo Trainer market. Further, the market in Europe is expected to grow at the highest CAGR during the forecast period. The US is one of the world's leading consumers of Turbo Trainer. The Turbo Trainer market in the country is driven by indoor cycling demand for both fitness and leisure/recreation. Additionally, the preference for bicycles as a convenient way of exercising is expected to drive the market in the coming years. Smart Turbo Trainer are gaining popularity among the US millennials.

Rapidly Flourishing Fitness Industry Boosts Global Turbo Trainer Market Growth:

In the last couple of years, people across the world have become more aware of the importance associated with living a healthy lifestyle. The growing prevalence of sedentary lifestyles among a vast population worldwide is affecting their physical and mental health. This factor is encouraging them to opt for physical activities and workouts to stay fit. Thus, fitness has become a prominent trend among millions, leading to a rapid increase in the size of the global fitness industry. Irrespective of the adverse effects of the COVID-19 pandemic on the fitness industry, there has been a notable increase in the number of home gyms and fitness enthusiasts in the last two years. Moreover, with the shift in fitness trends from gyms to outdoors, home fitness, and digital options, the fitness industry continues to evolve further. All these factors are boosting the Turbo Trainer market growth.

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Global Turbo Trainer Market: Segmental Overview

Based on product type, the Turbo Trainer market is segmented into regular trainers and smart trainers. In 2021, the smart trainers segment accounted for a larger revenue share and is expected to account for the highest CAGR during the forecast period. Based on distribution channel, the Turbo Trainer market is segmented into specialty stores, online retail, and others. In 2021, the specialty stores segment accounted for the largest revenue share, and the online retail segment is expected to account for the highest CAGR during the forecast period.

Impact of COVID-19 Pandemic on Global Turbo Trainer Market Size:

The COVID-19 pandemic hampered the growth of the consumer goods sector in 2020. Moreover, the implementation of preventive measures to combat the spread of SARS-CoV-2 hampered the growth of various industries. Industries such as packaging, consumer goods, and transportation were adversely affected by disruptions in overall operations and value chains caused by the sudden shutdown of national and international boundaries.

However, the global marketplace has recovered from the financial losses as governments of various countries announced relaxations in COVID-19-related restrictions. The Turbo Trainer market witnessed significant growth in sales after the opening of specialty stores, and the dissolution of delivery restrictions levied on online retail channels and product deliveries. Manufacturers are now allowed to operate at full capacities, which is helping them to overcome the gap between the supply and demand sides.

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