Exercise Bike Market Driven by the Increasing Health Consciousness Among the Masses

Exercise Bike Market Driven by the Increasing Health Consciousness Among the Masses

“Exercise Bike Market Driven by the Increasing Health Consciousness Among the Masses”
The global exercise bike market is primarily driven by the increasing health consciousness among the masses.

According to IMARC Group latest published report, titled “Exercise Bike Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” that the global exercise bike market size reached US$630.4 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 863.5 Million by 2027, exhibiting at a CAGR of 5.4% during 2022-2027.

Exercise bike, also known as a stationary cycle, is cardio equipment used for indoor workouts to strengthen the legs and lower body. It comprises a saddle, paddle, foot straps, and handlebars that resemble a bicycle without wheels. It aids in maintaining weight and the overall fitness of the body and preventing lifestyle diseases, such as stress, diabetes, and hypertension. It offers a lower-impact workout apt for those who are suffering from lower back or joint issues as compared to other exercise equipment. At present, due to the increasing participation of individuals in recreational sports, fitness, and athletic activities, the exercise bike is gaining traction across the globe.

Covid-19 Scenario:

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.

Competitive Scenario with Key Players:

The competitive landscape of the market has also been analyzed, with some of the key players being

  • Brunswick Corporation
  • Icon Health & Fitness, Inc.
  • Nautilus
  • Precor
  • Technogym

 

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Exercise Bike Market Trends:

The increasing health consciousness among the global population and the rising awareness about the benefits of using exercise bikes are among the major factors strengthening the market growth around the world. Moreover, the growing prevalence of numerous medical conditions and obesity is influencing the market positively. Rapid urbanization, hectic work schedules, sedentary lifestyles, and unhealthy dietary patterns are also contributing to the market growth. In addition, product manufacturers are introducing advanced exercise bikes that are incorporated with built-in tablet holders, adjustable seats, and touchscreen displays, which is creating a positive outlook for the market.

The integration of virtual reality (VR) in exercise bikes to enhance the experience of the user is fueling the market growth. Leading players are also financing advertising campaigns, such as celebrity and influencer endorsements, for improving their existing sales and profitability. This, in turn, is bolstering the market growth. Apart from this, the increasing number of gyms and other fitness centers are installing exercise bikes for boosting stamina and stimulating heart rate while burning the body fat of users, which is providing a thrust to the market growth. Furthermore, the increasing inclination of the masses toward home workout sessions is favoring the market growth. There is a rise in the number of individuals hiring personal trainers and investing in basic gym equipment, such as exercise bikes, for working out from the convenience of their homes on account of inflating income levels of individuals, which is propelling the market growth. Besides this, the easy availability of exercise bikes via offline and online retail channels with installation facilities and doorstep delivery is providing lucrative growth opportunities to leading players operating in the industry. Additionally, research and development (R&D) projects conducted by key players are expected to drive the market.

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Exercise Bike Market Report Scope

Report Coverage

Details

Market size value in 2021

US$ 630.4 Million

Market forecast in 2027

US$ 863.5 Million

Growth Rate

CAGR of 5.4% from 2022 to 2027

Base year for estimation

2021

Historical data

2016-2021

Forecast period

2022-2027

Objectives of the study:

  • To segment the global exercise bike market by based on product type and end-user, and region
  • To estimate and forecast the global market by region, namely, North America, Asia-Pacific, Europe, and Latin America and Middle East & Africa
  • To estimate and forecast the market size in terms of value (USD 863.5 Million), at global and regional levels
  • To analyse the key market drivers, restraints, growth, opportunities, and challenges influencing the global market
  • To identify the profile of the top key market players and analyse their core competencies in each segment of the global market.

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