HS Code:
Exercise cycles, classified under HS Code 950691, encompass a range of stationary bicycles and ergometers used for physical fitness and rehabilitation. This category includes both traditional exercise bikes and advanced models with digital interfaces for tracking performance. The global demand for exercise cycles has surged due to increasing health consciousness, the rise of home fitness solutions, and the impact of the COVID-19 pandemic, which shifted consumer preferences toward at-home workout equipment. This category is a significant segment of the broader fitness equipment market, often traded alongside other gym apparatus.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 650 million
54.2% of total trade of total trade
Increasing
USD 200 million
16.7% of total trade of total trade
Stable
USD 120 million
10.0% of total trade of total trade
Increasing
USD 80 million
6.7% of total trade of total trade
Stable
USD 50 million
4.2% of total trade of total trade
Increasing
Average Rate
5.5%
Highest Rate
12% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU Single Market or USMCA)
Rise in Home Fitness Equipment Demand
Significant increase in imports of exercise cycles as consumers prefer home workouts post-COVID-19, driving market growth by 15% annually since 2020.
2020-2022
Technological Integration
Growing preference for smart exercise cycles with app connectivity and virtual training features, boosting trade in premium models by 10% year-over-year.
2021-2022
Sustainability Focus
Manufacturers adopting eco-friendly materials and packaging to meet regulatory and consumer demands, influencing trade patterns with a 5% rise in compliant product exports.
2022
The United States extended Section 301 tariffs on Chinese exercise equipment, including cycles, citing unfair trade practices. This has led to a 7.5% additional duty on imports.
May 2023
Increased costs for US importers, potentially shifting sourcing to Taiwan or Vietnam.
The European Union introduced stricter environmental regulations under the Green Deal, mandating sustainable production practices for imported fitness equipment like exercise cycles.
January 2023
Manufacturers in exporting countries must adapt to new standards, potentially increasing production costs by 3-5% but improving market access for compliant firms.
Peloton, a leading smart exercise cycle brand, expanded its distribution network in Asia-Pacific, partnering with local retailers to increase market penetration.
March 2023
Boosted trade volume of premium exercise cycles in markets like Australia and Japan by approximately 8% in Q2 2023.