The new report by Expert Market Research titled, ‘Global Home Exercise Bike Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global home exercise bike market, assessing the market based on its segments like type, sales channel, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 1,457 Million
- Forecast CAGR (2022-2027): 7.7%
- Forecast Market Size (2027): USD 2,254 Million
An increasing number of diseases like obesity, diabetes, hypertension and stress, and the subsequent health awareness among consumers across the globe are expected to be driving the global exercise bike industry. The growing number of fitness clubs, gyms, and health centres have contributed to the demand for exercise bikes. A rise in the need for an active, healthy lifestyle across the world also contributes to the growth of the market. Increased health risks have resulted from sedentary lifestyles and dietary changes. Therefore, an increase in awareness toward regular physical activities to maintain a healthy lifestyle has boosted the growth of the exercise bike sector. Manufacturers are coming up with a variety of exercise bike innovations to expand their customer base. Nowadays, an exercise bike allows the user to cycle while watching a live stream video on the screen. In addition, producers have also created virtual reality exercise bikes, which allow customers to experience a whole different environment, boosting the market’s growth.
Industry Definition and Major Segments
Home exercise bikes are stationery workout equipment used to improve and maintain cardiovascular health. It is also used to cut down body fat. Unlike the gym variants, the home exercise bike is used to work out from home. It consists of subparts such as saddle, handlebars, pedals, and foot straps. The machine usually does not require any form of training before use but, some variants of these equipment may require some technical know how to operate effectively.
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By type, the market is divided into:
- Recumbent Bike
- Upright Bike
- Dual Action Bike
- Interactive Bike
Based on sales channel, the home exercise bike market is segmented into:
- Physical Store
On the basis of region, the industry is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The growing purchasing power, civilising lifestyles, rising youth population are expected to boost the growth of the exercise bike market. The consumers who are ready to spend more on their fitness and favour owning private equipment within the comfort of their homes are expected to dominate the exercise bike market. The closure of gyms and training centres around the world due to the COVID-19 outbreak has also increased the sales of home exercise bikes. The minor, recurrent expenditures of transportation, workout equipment, trainer fees, and membership fees are all factors that encourage consumers to use home exercise bikes. Also, a rising number of manufacturers are investing in the development of apps that allow users to choose their own personal trainers for online classes or home visits to fulfil their unique fitness needs, such as bodybuilding, thus driving the growth of the global home exercise bike industry.
Key Market Players
The major players in the market are Body Solid, Inc., Ciclotte, Paradigm Health & Wellness, Inc., and TECHNOGYM S.p.A, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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