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Asia-Pacific Turbo Trainers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Product Type and Distribution Channel

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    Report

  • 104 Pages
  • December 2022
  • Region: Asia Pacific
  • The Insight Partners
  • ID: 5715172
UP TO OFF until Mar 15th 2023
The APAC turbo trainers market is expected to grow from US$ 55.40 million in 2022 to US$ 67.98 million by 2028. It is estimated to grow at a CAGR of 3.5% from 2022 to 2028.

Wide Range of Technologically Advanced Turbo Trainer Systems

Suppliers in the market are collaborating with specialty stores to meet their requirements by providing customized solutions. Moreover, product innovations by these companies, along with other strategic moves, are attracting consumers to choose from a wide range of products. For instance, in August 2020, Wahoo announced the launch of a newly developed turbo trainer with improved automatic calibration abilities and accuracy. Also, Wahoo Fitness launched KICKR Smart Trainer and KICKR BIKE. Both devices are designed with enhanced features, including Wi-Fi connectivity, which enables a more seamless and connected user experience across the Wahoo ecosystem in September 2022. Similarly, in April 2020, Cyclist, in collaboration with Tacx, announced the launch of a new gravel riding turbo trainer for individuals who are unable to venture out to cycle during the ongoing COVID-19 pandemic. Further, in September 2022, Saris announced the H4 smart, direct drive trainer that features a flywheel; a cassette from SPRAM and Shimano; protocol compatibility of ANT+ FE-C and ANT+ Power; and Bluetooth Smart Trainer Control and Bluetooth Smart Power. Hence, the growing technological advancement in turbo trainers is expected to drive the market in coming years.

Market Overview

The emerging countries in APAC, such as China, Japan, and India, are witnessing an upsurge in demand for home fitness equipment, which offers many opportunities for the key players in the turbo trainers market. Rapid urbanization, rising disposable income, and a surge in youth population and their need to stay fit, including managing overall weight and body aesthetics, are contributing to the market growth. Moreover, the growing trend of smart turbo trainers, which allow millennials to connect to each other people via cycling apps such as Zwift while exercising from their homes, is also proliferating the market growth in the region. Moreover, cycling may be a mitigating factor of various disorders, such as heart diseases. The rising prevalence of medical concerns related to muscles, ligaments, and bones in individuals is increasing the demand for turbo trainers, as regular exercise can reduce the risk of bone strength losses in older people. According to the National Library of Medicine, in APAC, CVD accounts for less than 20% of all deaths in countries such as Thailand, the Philippines, and Indonesia and 20-30% in urban China, Hong Kong, Japan, South Korea, and Malaysia. Countries such as New Zealand, Australia, and Singapore have a relatively high death rate that exceeds ~30-35%. Therefore, the upsurge in the prevalence of diabetes, CVD, high blood pressure, and other chronic diseases is a major factor contributing to the market growth in the region.

APAC Turbo Trainers Market Segmentation

The APAC turbo trainers market is segmented based on product type, distribution channel, and country.
  • Based on product type, the APAC turbo trainers market is bifurcated into regular trainers and smart trainers. The smart trainers segment held a larger market share in 2022.
  • Based on distribution channel, the APAC turbo trainers market is segmented into specialty stores, online retail, and others. The specialty stores segment held the largest market share in 2022.
  • Based on country, the APAC turbo trainers market has been categorized into China, India, Japan, South Korea, Australia, and the Rest of APAC. Our regional analysis states that China dominated the market share in 2022.
Elite;Garmin Ltd.; Jetblack Cycling; Kurt Manufacturing; Minoura Co. Ltd.; Nautilus, Inc.; Saris; Technogym SpA; Wahoo Fitness; and Wattbike Ltd. are the leading companies operating in the APAC turbo trainers market.
Frequently Asked Questions about the Asia-Pacific Turbo Trainers Market

What is the estimated value of the Asia-Pacific Turbo Trainers Market?

The Asia-Pacific Turbo Trainers Market was estimated to be valued at $55.4 Million in 2022.

What is the growth rate of the Asia-Pacific Turbo Trainers Market?

The growth rate of the Asia-Pacific Turbo Trainers Market is 3.5%, with an estimated value of $67.98 Million by 2028.

What is the forecasted size of the Asia-Pacific Turbo Trainers Market?

The Asia-Pacific Turbo Trainers Market is estimated to be worth $67.98 Million by 2028.

Who are the key companies in the Asia-Pacific Turbo Trainers Market?

Key companies in the Asia-Pacific Turbo Trainers Market include Elite, Garmin Ltd., Jetblack Cycling, Kurt Manufacturing, Minoura Co. Ltd., Nautilus, Inc., Saris, Technogym SpA and Wattbike Ltd..

Table of Contents

1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis Formulation:
3.2.4 Macro-economic Factor Analysis:
3.2.5 Developing Base Number:
3.2.6 Data Triangulation:
3.2.7 Country Level Data:

4. APAC Turbo Trainers Market Landscape
4.1 Market Overview
4.2 PEST Analysis: APAC Turbo Trainers Market
4.3 Expert Opinions

5. APAC Turbo Trainers Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rapidly Flourishing Fitness Industry
5.1.2 Increased Demand for Smart Turbo Trainers
5.2 Market Restraints
5.2.1 High Initial Investment Requirements and Maintenance Costs
5.3 Market Opportunities
5.3.1 Surging Popularity of Indoor Cycling
5.4 Future Trends
5.4.1 Extensive Range of Technologically Advanced Turbo Trainer Systems
5.5 Impact Analysis of Drivers and Restraints

6. Turbo Trainers Market - APAC Analysis
6.1 APAC Turbo Trainers Market -Revenue and Forecast to 2028 (US$ Thousand)

7. APAC Turbo Trainers Market Analysis - By Product Type
7.1 Overview
7.2 APAC Turbo Trainers Market, By Product Type (2021 and 2028)
7.3 Regular Trainers
7.3.1 Overview
7.3.2 Regular Trainers: Turbo Trainers Market - Revenue and Forecast to 2028 (US$ Thousand)
7.4 Smart Trainers
7.4.1 Overview
7.4.2 Smart Trainers: Turbo Trainers Market - Revenue and Forecast to 2028 (US$ Thousand)

8. APAC Turbo Trainers Market Analysis - By Distribution Channel
8.1 Overview
8.2 APAC Turbo Trainers Market, By Distribution Channel (2021 and 2028)
8.3 Specialty Stores
8.3.1 Overview
8.3.2 Specialty Stores: Turbo Trainers Market - Revenue and Forecast to 2028 (US$ Thousand)
8.4 Online Retail
8.4.1 Overview
8.4.2 Online Retail: Turbo Trainers Market - Revenue and Forecast to 2028 (US$ Thousand)
8.5 Others
8.5.1 Overview
8.5.2 Others: Turbo Trainers Market - Revenue and Forecast to 2028 (US$ Thousand)

9. APAC Turbo Trainers Market- Country Analysis
9.1 Overview
9.1.1 APAC: Turbo Trainers Market, by Key Country
9.1.1.1 Australia: Turbo Trainers Market-Revenue and Forecast to 2028 (US$ Thousand)
9.1.1.1.1 Australia: Turbo Trainers Market, By Product Type
9.1.1.1.2 Australia: Turbo Trainers Market, by Distribution Channel
9.1.1.2 China: Turbo Trainers Market-Revenue and Forecast to 2028 (US$ Thousand)
9.1.1.2.1 China: Turbo Trainers Market, By Product Type
9.1.1.2.2 China: Turbo Trainers Market, by Distribution Channel
9.1.1.3 India: Turbo Trainers Market-Revenue and Forecast to 2028 (US$ Thousand)
9.1.1.3.1 India: Turbo Trainers Market, By Product Type
9.1.1.3.2 India: Turbo Trainers Market, by Distribution Channel
9.1.1.4 Japan: Turbo Trainers Market-Revenue and Forecast to 2028 (US$ Thousand)
9.1.1.4.1 Japan: Turbo Trainers Market, By Product Type
9.1.1.4.2 Japan: Turbo Trainers Market, by Distribution Channel
9.1.1.5 South Korea: Turbo Trainers Market-Revenue and Forecast to 2028 (US$ Thousand)
9.1.1.5.1 South Korea: Turbo Trainers Market, By Product Type
9.1.1.5.2 South Korea: Turbo Trainers Market, by Distribution Channel
9.1.1.6 Rest of APAC: Turbo Trainers Market-Revenue and Forecast to 2028 (US$ Thousand)
9.1.1.6.1 Rest of APAC: Turbo Trainers Market, By Product Type
9.1.1.6.2 Rest of APAC: Turbo Trainers Market, by Distribution Channel

10. Industry Landscape
10.1 Overview
10.2 Product launch

11. Company Profiles
11.1 Elite
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Garmin Ltd.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Kurt Manufacturing
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Minoura Co. Ltd.
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Nautilus, Inc.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Saris
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Technogym SpA
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Wahoo Fitness
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Jetblack Cycling
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Wattbike Ltd.
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments

12. Appendix
12.1 About the Publisher
12.2 Word Index

List of Tables
Table 1. APAC Turbo Trainers Market -Revenue and Forecast to 2028 (US$ Thousand)
Table 2. Australia Turbo Trainers Market, by Product Type - Revenue and Forecast to 2028 (US$ Thousand)
Table 3. Australia Turbo Trainers Market, by Distribution Channel - Revenue and Forecast to 2028 (US$ Thousand)
Table 4. China Turbo Trainers Market, by Product Type - Revenue and Forecast to 2028 (US$ Thousand)
Table 5. China Turbo Trainers Market, by Distribution Channel - Revenue and Forecast to 2028 (US$ Thousand)
Table 6. India Turbo Trainers Market, by Product Type - Revenue and Forecast to 2028 (US$ Thousand)
Table 7. India Turbo Trainers Market, by Distribution Channel - Revenue and Forecast to 2028 (US$ Thousand)
Table 8. Japan Turbo Trainers Market, by Product Type - Revenue and Forecast to 2028 (US$ Thousand)
Table 9. Japan Turbo Trainers Market, by Distribution Channel - Revenue and Forecast to 2028 (US$ Thousand)
Table 10. South Korea Turbo Trainers Market, by Product Type - Revenue and Forecast to 2028 (US$ Thousand)
Table 11. South Korea Turbo Trainers Market, by Distribution Channel - Revenue and Forecast to 2028 (US$ Thousand)
Table 12. Rest of APAC Turbo Trainers Market, by Product Type - Revenue and Forecast to 2028 (US$ Thousand)
Table 13. Rest of APAC Turbo Trainers Market, by Distribution Channel - Revenue and Forecast to 2028 (US$ Thousand)
Table 14. List of Abbreviation

List of Figures
Figure 1. APAC Turbo Trainers Market Segmentation
Figure 2. APAC Turbo Trainers Market Segmentation - By Country
Figure 3. APAC Turbo Trainers Market Overview
Figure 4. APAC Turbo Trainers Market, By Product Type
Figure 5. APAC Turbo Trainers Market, By Country
Figure 7. PEST Analysis: APAC Turbo Trainers Market
Figure 8. Expert Opinions
Figure 9. APAC Turbo Trainers Market Impact Analysis of Drivers and Restraints
Figure 10. APAC: Turbo Trainers Market - Revenue and Forecast to 2028 (US$ Thousand)
Figure 11. APAC Turbo Trainers Market Revenue Share, By Product Type (2021 and 2028)
Figure 12. APAC Regular Trainers: Turbo Trainers Market - Revenue and Forecast To 2028 (US$ Thousand)
Figure 13. APAC Smart Trainers: Turbo Trainers Market - Revenue and Forecast To 2028 (US$ Thousand)
Figure 14. APAC Turbo Trainers Market Revenue Share, By Distribution Channel (2021 and 2028)
Figure 15. APAC Specialty Stores: Turbo Trainers Market - Revenue and Forecast To 2028 (US$ Thousand)
Figure 16. APAC Online Retail: Turbo Trainers Market - Revenue and Forecast To 2028 (US$ Thousand)
Figure 17. APAC Others: Turbo Trainers Market - Revenue and Forecast To 2028 (US$ Thousand)
Figure 18. APAC: Turbo Trainers Market, by Key Country - Revenue (2021) (US$ ‘Thousand)
Figure 19. APAC: Turbo Trainers Market Revenue Share, by Key Country (2021 and 2028)
Figure 20. Australia: Turbo Trainers Market-Revenue and Forecast to 2028 (US$ Thousand)
Figure 21. China: Turbo Trainers Market-Revenue and Forecast to 2028 (US$ Thousand)
Figure 22. India: Turbo Trainers Market-Revenue and Forecast to 2028 (US$ Thousand)
Figure 23. Japan: Turbo Trainers Market-Revenue and Forecast to 2028 (US$ Thousand)
Figure 24. South Korea: Turbo Trainers Market-Revenue and Forecast to 2028 (US$ Thousand)
Figure 25. Rest of APAC: Turbo Trainers Market-Revenue and Forecast to 2028 (US$ Thousand)

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Elite
  • Garmin Ltd.
  • Jetblack Cycling
  • Kurt Manufacturing
  • Minoura Co. Ltd.
  • Nautilus, Inc.
  • Saris
  • Technogym SpA
  • Wahoo Fitness
  • Wattbike Ltd.