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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 7.7%
The rising health awareness owing to the growing prevalence of various health-related issues is driving the market for home exercise bike. With the growing focus on holistic wellbeing, weight management, and improving muscular strength and body stamina, the demand for home exercise bikes is significantly surging. The market growth can also be attributed to the emerging trend of preventative healthcare due to the rising healthcare costs, which is bolstering the focus on fitness activities. Moreover, the growing adoption of specialised home exercise bikes by the rising geriatric population in both developing and developed countries is propelling the growth of the market.
Industry Definition and Major Segments
A home exercise bike, variously known as a stationary bike, is cardiovascular equipment that offers full-body workout. It is typically used for no-impact aerobic workouts to tone and strengthen the muscles of the lower body. It is easy to use and requires low maintenance. Moreover, home exercise bikes find extensive use in spin workouts.
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The market, based on type, is divided into:
• Recumbent Bike
• Upright Bike
• Dual Action Bike
• Interactive Bike
By sales channel, the market is segmented into:
• Physical Store
The regional markets of home exercise bike are:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The market growth of home exercise bike can be attributed to the growing focus on active and healthy lifestyles across the globe. The rising awareness regarding the harmful health effects of sedentary lifestyles is also increasing the demand for home exercise bikes. With the growing trend of home workouts in the wake of the COVID-19 outbreak, the market for home exercise bike is witnessing robust growth. Moreover, the surging awareness regarding the benefits of such bikes in boosting stamina, burning body fat, and stimulating heart rate is expected to significantly contribute to the growth of the market in the forecast period.
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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