According to the latest report by IMARC Group, titled "Exercise Bike Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global exercise bike market reached a value of US$ 630.4 Million in 2021. An exercise bike is a type of cardio equipment that is generally used for exercising. It is a stationary bike that is widely utilized for indoor workouts to strengthen the legs and lower body. It usually consists of a saddle, paddles, pedals and handlebars that resemble a bicycle without wheels. It is an effective and efficient exercise machine to burn body fat and calories while improving the functioning of the lungs and heart. Along with this, it also aids in boosting cardio fitness that helps in maintaining blood sugar levels and proper brain functioning.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Exercise Bike Market Trends:
The global market is primarily driven by the increasing health consciousness among the masses. Besides this, the rising need for leading a healthy lifestyle due to the escalating prevalence of chronic diseases and obesity and the growing preference for maintaining an aesthetic body appearance among individuals are providing a boost to the demand for exercise bikes. In addition to this, the mandatory lockdown restrictions as a consequence of the rapid outbreak of coronavirus disease (COVID-19) across the globe have accelerated the workout-from-home trend, which, in turn, has propelled the demand for home workout equipment, including exercise bikes. Moreover, several leading players are heavily investing in product innovations, such as launching exercise bikes with built-in tablet holders, adjustable seats and touchscreen displays, which are gaining widespread prominence among the masses. Other factors, including rapid urbanization, the inflating disposable income levels of individuals, a considerable rise number of fitness centers and gymnasiums, and extensive research and development (R&D) activities conducted by key players, are further favorably influencing the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 863.5 Million by 2027, exhibiting a CAGR of 5.4% during 2022-2027.
- On the basis of the product type, the market has been bifurcated into recumbent and upright exercise bikes. Presently, recumbent exercise bike represents the majority of the total market share.
- Based on the end-use, the market has been categorized into home consumers, gyms/health clubs and others. Among these, home consumers hold the largest market share.
- On the basis of the region, the market has been divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Presently, North America holds the leading market position.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Brunswick Corporation, Icon Health & Fitness, Inc., Nautilus, Precor and Technogym.
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