The exercise bikes market in the world was worth US$ 597.5 million in the year 2020. In the future, the company expects the exercise bike market to hit an amount in the range of US$ 795.4 Million by 2026. It will show an annual growth rate of 4.76% from 2021 to 2026.
An exercise bike, also referred to by its name stationary bike, is an immobile exercise machine that looks like an ordinary bicycle. It comes with a variety of sub-parts that include the pedals, a saddle, as well as foot straps, handlebars, and handlebars. When compared to other exercise equipment, the exercise bike is a low-impact workout that is ideal for people struggling with joint or lower back pain. Furthermore, it assists in improving the overall health of the body, decreasing weight, and fighting health issues that are a result of lifestyle, like diabetes, stress, and hypertension.
The growing popularity in the popularity of home fitness bicycle market is due to the increasing population across the globe. Health awareness is growing, and the increasing demand for active and healthy lifestyles across the globe as among the primary factors driving the market for fitness equipment. Lifestyles that are sedentary and changing eating habits have resulted in an increase in risks to health. So, the increased awareness about regular physical exercise to ensure a healthy lifestyle has led to the expansion of the exercise equipment industry and in-house equipment especially.
Furthermore, the large proportions of the geriatric populace in developing and developed countries utilize fitness equipment to enhance their cardiovascular health. This is driving the demand for fitness gear. But, the cost of fitness equipment is high, and the availability of fake exercise equipment is the primary limitation to the market. In contrast, the growing disposable incomes of individuals and the growing concern about body image among the population will create the potential for the home fitness bike market to grow.
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Market Trend and Dynamics of the Global Exercise Bikes Market:
The rising demand for exercise bikes to combat weight gain and other diseases of the lifestyle is expected to propel the expansion of the market during the forecast time. Additionally, the rising incidence of diseases that affect the lifestyle, such as hypertension and obesity, is predicted to increase the size of the market in the long term. Other factors, such as the increase in disposable income and improving the standard of living, are likely to increase the use of exercise bikes over the forecast time.
However, the high price of fitness equipment, such as stationary bikes, could hinder demand and slow the expansion of the market in the coming years.
Recent trends show that the innovations of manufacturers give an increase in the market’s expansion. Furthermore, some of the innovative technologies include bicycles which allow riders to view live streaming videos on the screen while within the studio or to cycle through various terrains across the globe using virtual reality.
Because of busy life schedules, the sedentary lifestyle, and changing food preferences, people are increasingly relying on fast food and food items that have a low nutritional value and are high in unhealthy fats. This has resulted in an increase in the incidence of obesity and other chronic illnesses. The growing awareness of health in the world’s population has increased the need for fitness bikes since they provide isotonic exercises for the body and aid in increasing stamina, boosting the heart rate, and reducing the body’s overall fat.
Manufacturers are in the process of introducing numerous innovations in exercise bikes to increase their market share. Today exercising bikes allow users to watch live streaming video on the display while riding. In addition, manufacturers recently introduced virtual reality bikes that can create a totally different experience for customers.
Other reasons that are assisting the development of the market include increasing purchasing power, improved lifestyles, a growing population of young people, and the rising incidence of cardiac and diabetes-related diseases.
The Key Market Segmentation of the Global Exercise Bikes Market:
Global Exercise Bikes Market can be divided into Product Types, Sales channels, and Geographical landscapes, etc.
Exercise Bikes Market Segmentation By Product Type:
- RECUMBENT BIKE
- UPRIGHT BIKE
- DUAL ACTION BIKE
- INTERACTIVE BIKE
Exercise Bikes Market Segmentation By Sales Channel:
- ONLINE
- PHYSICAL STORE
Exercise Bikes Market Segmentation By Geographical Landscape:
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Major Key Players in the Global Exercise Bikes Market Are:
- ICON HEALTH & FITNESS INC
- BODY SOLID, Inc
- CICLOTTE
- ANTA SPORTS PRODUCTS LIMITED
- KPS CAPITAL PARTNERS, LP
- NAUTILUS Inc
- PARADIGM HEALTH & WELLNESS, INC
- JHONSON HEALTH TECH
- SUNNY HEALTH AND FITNESS
- TECHNOGYM S.p.A.
The Global Exercise Bikes Market Report Highlights:
According to the Organisation for Economic Co-operation and Development (OECD), 19.5 percent of the population was obese in the year 2015. This rate is variable, and it is less than 6% in Korea and Japan and more than 30% in Hungry, Mexico, the US, and New Zealand.
In terms of geography, North America is dominated by the world’s stationery bike market and is expected to continue its position throughout the next few years. The main reason behind the expansion of the North American stationary bike market is the growing rate of obesity and related illnesses (diabetes and heart diseases) that have caused people to engage in regular physical activity. The awareness of this has led to a rise in the number of gyms which in turn encourages the creation of fitness equipment.
Additionally, the market in the Asia Pacific is anticipated to increase significantly because of the rise in disposable income and rising spending on healthcare. In addition, the market in the Middle East & Africa is likely to experience moderate growth in the coming years.
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