Allied Market Research, “Home Exercise Bike Market Types (Upright Exercise Bikes, Recumbent Exercise Bikes, Folding Exercise Bikes, Dual Action Stationary Bikes) End Users (Men, Women): Global Opportunity Analysis and Industry Forecast, 2021” published a report titled -2027” report, the global home exercise bike industry generated $1.21 billion in 2019 and is estimated to reach $2.33 billion in 2027, and will grow from 2021 to 2027. CAGR is 8.7%.
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Drivers, Restraints, and Opportunities
Rise in people’s awareness of physical health, increasing concern about obesity and hypertension, and muscular bodybuilding trends are boosting the growth of the global home exercise bike market. However, the high cost of exercise bikes hinders the market growth. Meanwhile, innovations in home exercise bike functionality will create new opportunities in the coming years.
Key Market Players:-
Precor Co., Ltd.
ICON Health & Fitness
ICON Health & Fitness
Asian sports and business
Ciclotte, Johnson Health Tech
The growth of the home exercise bike market can be attributed to the growing population worldwide. Growing health awareness across the globe and increasing demand for an active and healthy lifestyle are the major drivers of the fitness equipment market. Sedentary lifestyles and dietary changes are leading to increased health risks. Therefore, increasing awareness of regular physical activity to maintain a healthy lifestyle is driving the growth of the fitness equipment market, especially in-house equipment. Additionally, a majority of the elderly population in developed and developing countries use their own fitness equipment to improve cardiovascular conditions. This trend is driving the fitness equipment market significantly. However, the high cost and availability of counterfeit exercise equipment remains a major constraint on the global market. On the contrary, people’s increasing disposable income and people’s growing concern about body image are expected to provide growth opportunities for the global home exercise bike market.
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The home exercise bike market is segmented into type, sales channel, and region. The type segment includes recumbent bikes, upright bikes, dual action bikes and interactive bikes. Based on sales channel, the market is classified into online and brick-and-mortar. Geographically: North America (United States, Mexico, Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Australia, Rest of Asia Pacific) , LAMEA (Latin America, Middle East and Africa).
By region, North America was the largest market in terms of revenue, with nearly one-third share in 2019. The United States is expected to expand with a further notable growth rate, dominating the home exercise bike market share and accounting for the highest share of the overall forecast. period. On the contrary, Asia Pacific is expected to gain the highest growth rate. The growth in this region can be attributed to growing awareness of health and fitness.
Major Findings of the Study
Based on type, the recumbent segment is projected to witness a growth rate during the forecast period.
Based on sales channel, the brick and mortar segment is expected to dominate the market from 2021 to 2027.
The online segment is expected to grow at a significant CAGR during the forecast period.
The United States was the largest country in terms of home exercise bike revenue generation in 2019.
Asia Pacific is expected to achieve the highest growth rate from 2021 to 2027.
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