The smart bikemarket in Europe is expected to grow from US$ 420.27 million in 2022 to US$ 746.62 million by 2028. It is estimated to grow at a CAGR of 10.1% from 2022 to 2028.
The PowerMax BS -130 has adjustable handlebars and high-density padded seats, which offers users a customizable experience. Also, Joroto Indoor Cycle is a fully adjustable bike with a 2-way adjustable handlebar and 4-way adjustable seat. It also has an easy-read digital monitor to track workout data, such as workout time, RPM, distance, speed, and calories burned.
In addition, market players have launched various new software applications to enhance the user experience. For instance, Zwift allows indoor cyclists to join group rides where they can measure themselves against others worldwide. Also, it has the feature of messaging others, thus helping interact with other users. Moreover, Bowflex offers Netflix, Disney Plus, and HBOMax, among other things, thus keeping the rider engaged while doing the workout. Thus, the rising demand for technologically advanced smart bikes is boosting the market.
With the heightened demand, the number of smart bike start-ups has also been rising in the region, aiming to acquire market share from leading companies while providing their hardware at competitive prices. The pandemic also promoted such trends. As people spent more time indoors, owing to pandemic-related temporary movement restrictions, the need to maintain fitness and health led to a huge spike in demand for smart bikes. Apex Rides Ltd., a UK-based smart bike start-up, seized this opportunity and sold 2,500 bikes in 2020, their first year in business. However, they could not cater to most of the demand due to pandemic-related supply chain disruptions. Such trends indicate how fast the smart bike market is expanding in this region.
Furthermore, due to the increasing demand for smart bikes in Europe, manufacturers such as Peloton have added European scenic rides into their subscription-based apps. Scenic rides allow the users to visualize the specific scenes on the inbuilt screen of the bike or connected smartphones or tablets while using the bike. Such integrations aim to increase the attractiveness of smart bikes among European customers. These trends can further boost the demand for smart bikes in Europe in the coming years. However, growth rates in 2022 and 2023 are expected to be on the lower side, owing to higher inflation, leading to lower consumer spending, and easing pandemic-related restrictions.
Technological Advancement in Smart Bikes
Exercising at home during the COVID-19 lockdown has become mandatory for fitness enthusiasts, due to which the demand for smart bikes in the market has also increased. To provide comfort to people, smart bike manufacturers have upgraded their products. For instance, in November 2021, Muoverti launched a TiltBike, enabling riders to balance and steer, accelerate and brake, and fully engage their body to simulate the riding experience. Similarly, other manufacturers have developed smart bikes to provide riders with a significant outdoor riding experience while actually being indoors. Some of these bikes are Wattbike, Flexbike, PowerMax BS -130, Joroto Indoor Cycle, and others. Wattbike provides accurate data, polar view, real ride feel technology, Handlebar Height, etc., thus giving the sensation of riding on the road. Flexbike is a Bluetooth-enabled smart bike. The Flexnest's app provides 3 types of bike workouts: Quick, virtual, and class ride.The PowerMax BS -130 has adjustable handlebars and high-density padded seats, which offers users a customizable experience. Also, Joroto Indoor Cycle is a fully adjustable bike with a 2-way adjustable handlebar and 4-way adjustable seat. It also has an easy-read digital monitor to track workout data, such as workout time, RPM, distance, speed, and calories burned.
In addition, market players have launched various new software applications to enhance the user experience. For instance, Zwift allows indoor cyclists to join group rides where they can measure themselves against others worldwide. Also, it has the feature of messaging others, thus helping interact with other users. Moreover, Bowflex offers Netflix, Disney Plus, and HBOMax, among other things, thus keeping the rider engaged while doing the workout. Thus, the rising demand for technologically advanced smart bikes is boosting the market.
Market Overview
Europe smart bike market is spread across Germany, France, the UK, Italy, Russia, and the Rest of Europe. Europe is the second largest shareholder in the smart bike market and is expected to hold its position till 2028. The region is known to adopt technology at a fast pace and also is a leading innovator. Additionally, inhabitants of the region are known to adopt new technologies quickly. The demand for smart bikes has rapidly grown due to such features in Europe.With the heightened demand, the number of smart bike start-ups has also been rising in the region, aiming to acquire market share from leading companies while providing their hardware at competitive prices. The pandemic also promoted such trends. As people spent more time indoors, owing to pandemic-related temporary movement restrictions, the need to maintain fitness and health led to a huge spike in demand for smart bikes. Apex Rides Ltd., a UK-based smart bike start-up, seized this opportunity and sold 2,500 bikes in 2020, their first year in business. However, they could not cater to most of the demand due to pandemic-related supply chain disruptions. Such trends indicate how fast the smart bike market is expanding in this region.
Furthermore, due to the increasing demand for smart bikes in Europe, manufacturers such as Peloton have added European scenic rides into their subscription-based apps. Scenic rides allow the users to visualize the specific scenes on the inbuilt screen of the bike or connected smartphones or tablets while using the bike. Such integrations aim to increase the attractiveness of smart bikes among European customers. These trends can further boost the demand for smart bikes in Europe in the coming years. However, growth rates in 2022 and 2023 are expected to be on the lower side, owing to higher inflation, leading to lower consumer spending, and easing pandemic-related restrictions.
Europe Smart Bike Market Segmentation
The Europe smart bike market is segmented into connectivity, handle type, and application, and country.- Based on connectivity, the market is sub segmented into Bluetooth and wi-fi. The Bluetooth segment held a larger market share in 2022.
- Based on handle type, the market is segmented into fixed handle type and moving handle type. The fixed handle type segment held a larger market share in 2022.
- Based on application, the market is segmented into residential and commercial. The residential segment held a larger market share in 2022.
- Based on country, the market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Germany dominated the market share in 2022.
Table of Contents
1. Introduction1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Smart Bike Market - By Connectivity
1.3.2 Europe Smart Bike Market - By Handle Type
1.3.3 Europe Smart Bike Market - By Application
1.3.4 Europe Smart Bike Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Smart Bike Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Smart Bike Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Health Consciousness
5.1.2 Technological Advancement in Smart Bikes
5.2 Market Restraints
5.2.1 High Initial Investment
5.3 Market Opportunities
5.3.1 Rising Interest in Smart Bikes in Developing Nations
5.4 Future Trends
5.4.1 Corporate Wellness Programs
5.5 Analysis of Drivers and Restraints
6. Smart Bike Market - Europe Analysis
6.1 Europe Smart Bike Market Overview
6.2 Europe Smart Bike Market - Revenue and Forecast to 2028 (US$ Million)
7. Europe Smart Bike Market Analysis - By Connectivity
7.1 Overview
7.2 Europe Smart Bike Market, By Connectivity (2021 and 2028)
7.3 Bluetooth
7.3.1 Overview
7.3.2 Bluetooth: Europe Smart Bike Market - Revenue, and Forecast to 2028 (US$ Million)
7.4 Wi-Fi
7.4.1 Overview
7.4.2 Wi-Fi: Europe Smart Bike Market - Revenue, and Forecast to 2028 (US$ Million)
8. Europe Smart Bike Market Analysis - By Handle Type
8.1 Overview
8.2 Europe Smart Bike Market Breakdown, By Handle Type, 2021 & 2028
8.3 Fixed Handle Type
8.3.1 Overview
8.3.2 Fixed Handle Type Market Revenue and Forecast to 2028 (US$ Million)
8.4 Moving Handle Type
8.4.1 Overview
8.4.2 Moving Handle Type Market Revenue and Forecast to 2028 (US$ Million)
9. Europe Smart Bike Market Analysis - By Application
9.1 Overview
9.2 Europe Smart Bike Market Breakdown, By Handle Type, 2021 & 2028
9.3 Residential
9.3.1 Overview
9.3.2 Residential Market Revenue and Forecast to 2028 (US$ Million)
9.4 Commercial
9.4.1 Overview
9.4.2 Commercial Market Revenue and Forecast to 2028 (US$ Million)
10. Europe Smart Bike Market - Country Analysis
Overview
10.1.1 Europe Smart Bike Market Breakdown, by Country
10.1.1.1 Germany Smart Bike Market, Revenue and Forecast to 2028
10.1.1.1.1 Germany Smart Bike Market Breakdown, By Connectivity
10.1.1.1.2 Germany Smart Bike Market Breakdown, By Handle Type
10.1.1.1.3 Germany Smart Bike Market Breakdown, By Application
10.1.1.2 France Smart Bike Market, Revenue and Forecast to 2028
10.1.1.2.1 France Smart Bike Market Breakdown, By Connectivity
10.1.1.2.2 France Smart Bike Market Breakdown, By Handle Type
10.1.1.2.3 France Smart Bike Market Breakdown, By Application
10.1.1.3 Italy Smart Bike Market, Revenue and Forecast to 2028
10.1.1.3.1 Italy Smart Bike Market Breakdown, By Connectivity
10.1.1.3.2 Italy Smart Bike Market Breakdown, By Handle Type
10.1.1.3.3 Italy Smart Bike Market Breakdown, By Application
10.1.1.4 UK Smart Bike Market, Revenue and Forecast to 2028
10.1.1.4.1 UK Smart Bike Market Breakdown, By Connectivity
10.1.1.4.2 UK Smart Bike Market Breakdown, By Handle Type
10.1.1.4.3 UK Smart Bike Market Breakdown, By Application
10.1.1.5 Russia Smart Bike Market, Revenue and Forecast to 2028
10.1.1.5.1 Russia Smart Bike Market Breakdown, By Connectivity
10.1.1.5.2 Russia Smart Bike Market Breakdown, By Handle Type
10.1.1.5.3 Russia Smart Bike Market Breakdown, By Application
10.1.1.6 Rest of Europe Smart Bike Market, Revenue and Forecast to 2028
10.1.1.6.1 Rest of Europe Smart Bike Market Breakdown, By Connectivity
10.1.1.6.2 Rest of Europe Smart Bike Market Breakdown, By Handle Type
10.1.1.6.3 Rest of Europe Smart Bike Market Breakdown, By Application
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Mergers and Acquisitions
12. Company Profiles
12.1 Echelon Fitness Multimedia, LLC.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Garmin Ltd.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Keiser Corporation
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Life Fitness
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Nautilus, Inc.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Peloton Interactive, Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Wahoo Fitness
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Johnson Health Tech
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 MAD DOGG ATHLETICS
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. Appendix
13.1 About the Publisher
13.2 Word Index
List of Tables
Table 1. Europe Smart Bike Market - Revenue and Forecast to 2028 (US$ Million)
Table 2. Europe Smart Bike Market, by Country - Revenue and Forecast to 2028 (US$ Million)
Table 3. Germany Smart Bike Market, by Connectivity - Revenue and Forecast to 2028 (US$ Million)
Table 4. Germany Smart Bike Market, By Handle Type - Revenue and Forecast to 2028 (US$ Million)
Table 5. Germany Smart Bike Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 6. France Smart Bike Market, by Connectivity - Revenue and Forecast to 2028 (US$ Million)
Table 7. France Smart Bike Market, By Handle Type - Revenue and Forecast to 2028 (US$ Million)
Table 8. France Smart Bike Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 9. Italy Smart Bike Market, by Connectivity - Revenue and Forecast to 2028 (US$ Million)
Table 10. Italy Smart Bike Market, By Handle Type - Revenue and Forecast to 2028 (US$ Million)
Table 11. Italy Smart Bike Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 12. UK Smart Bike Market, by Connectivity - Revenue and Forecast to 2028 (US$ Million)
Table 13. UK Smart Bike Market, By Handle Type - Revenue and Forecast to 2028 (US$ Million)
Table 14. UK Smart Bike Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 15. Russia Smart Bike Market, by Connectivity - Revenue and Forecast to 2028 (US$ Million)
Table 16. Russia Smart Bike Market, By Handle Type - Revenue and Forecast to 2028 (US$ Million)
Table 17. Russia Smart Bike Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of Europe Smart Bike Market, by Connectivity - Revenue and Forecast to 2028 (US$ Million)
Table 19. Rest of Europe Smart Bike Market, By Handle Type - Revenue and Forecast to 2028 (US$ Million)
Table 20. Rest of Europe Smart Bike Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 21. List of Abbreviation
List of Figures
Figure 1. Europe Smart Bike Market Segmentation
Figure 2. Europe Smart Bike Market Segmentation - By Country
Figure 3. Europe Smart Bike Market Overview
Figure 4. Bluetooth Segment Held the Largest Share of Europe Smart Bike Market
Figure 5. Fixed Handle Type Segment Held the Largest Share of Europe Smart Bike Market
Figure 6. Residential Segment Held the Largest Share of Europe Smart Bike Market
Figure 7. Germany to Show Great Traction During Forecast Period
Figure 8. Europe: PEST Analysis
Figure 9. Expert Opinion
Figure 10. Europe Smart Bike Market Impact Analysis of Drivers and Restraints
Figure 11. Europe Smart Bike Market - Revenue and Forecast to 2028 (US$ Million)
Figure 12. Europe Smart Bike Market Revenue Share, By Connectivity (2021 and 2028)
Figure 13. Bluetooth: Europe Smart Bike Market - Revenue, and Forecast to 2028 (US$ Million)
Figure 14. Wi-Fi: Europe Smart Bike Market - Revenue, and Forecast to 2028 (US$ Million)
Figure 15. Europe Smart Bike Market Breakdown, By Handle Type (2021 and 2028)
Figure 16. Fixed Handle Type Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. Moving Handle Type Market Revenue and Forecast to 2028(US$ Million)
Figure 18. Europe Smart Bike Market Breakdown, By Handle Type (2021 and 2028)
Figure 19. Residential Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Commercial Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. Europe Smart Bike Market, by Key Country - Revenue (2021) (US$ Million)
Figure 22. Europe Smart Bike Market Breakdown, by Country, 2021 & 2028 (%)
Figure 23. Germany Smart Bike Market, Revenue and Forecast to 2028 (US$ Million)
Figure 24. France Smart Bike Market, Revenue and Forecast to 2028 (US$ Million)
Figure 25. Italy Smart Bike Market, Revenue and Forecast to 2028 (US$ Million)
Figure 26. UK Smart Bike Market, Revenue and Forecast to 2028 (US$ Million)
Figure 27. Russia Smart Bike Market, Revenue and Forecast to 2028 (US$ Million)
Figure 28. Rest of Europe Smart Bike Market, Revenue and Forecast to 2028 (US$ Million)
Companies Mentioned
- Echelon Fitness Multimedia, LLC.
- Garmin Ltd.
- Johnson Health Tech
- Keiser Corporation
- Life Fitness
- MAD DOGG ATHLETICS
- Nautilus, Inc.
- Peloton Interactive, Inc.
- Wahoo Fitness
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 124 |
| Published | December 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 420.27 Million |
| Forecasted Market Value ( USD | $ 746.62 Million |
| Compound Annual Growth Rate | 10.1% |
| Regions Covered | Europe |
| No. of Companies Mentioned | 9 |
