The ‘Global Exercise Bike Market Price, Share, Size, Outlook, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global exercise bike market, assessing the market on the basis of its segments like product types, end uses, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Exercise Bike Market Size, Share, Price, Growth, Trends, Industry Report, Key Players, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): Over USD 544.09 Million
- Forecast CAGR (2023-2028): 3.50%
The exercise bike market development is being propelled by the growing deployment of technologies such as touchscreens, virtual reality, and interactivity in exercise bikes to make workouts engaging. With their ability to track progress and personalise workouts, smart bikes that connect to apps and fitness trackers are increasingly gaining popularity.
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The rising health consciousness has been a major factor driving the exercise bike market growth, as more people are utilising exercise bikes to maintain proper health. Indoor cycling is also gaining popularity as a low-impact and high-intensity exercise choice. Besides, the rising awareness regarding the benefits of exercise bikes to support the body perform isometric movements and increase endurance is anticipated to aid the market.
Riding a stationary exercise bike has been proven to be an effective option for people to stay fit. It is very efficient in helping people to lose weight and burn calories while strengthening the heart, lungs, and muscles; such factors are boosting its demand in fitness centres, gyms, and homes.
An exercise bike enables an excellent aerobic workout while putting less strain on joints, which has increased its popularity among people of all age groups.
In the forecast period, it is anticipated that rising disposable income and growing consumer living standards, along with the surging fitness-consciousness, will further fuel the exercise bike market expansion.
Exercise Bike Industry Definition and Major Segments
An exercise bike is a stationary bike that can be used for indoor workouts. These bikes offer a low-impact exercise that uses fluid movements to strengthen bones and joints without straining them. These bikes are usually utilised in households and gyms.
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The major product types in the market include:
- Recumbent Exercise Bike
- Upright Exercise Bike
By end use, the market is segmented into:
- Home Consumer
- Gyms/ Health Clubs
The major regional markets of exercise bikes include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Exercise Bike Market Trends
The growing popularity of home workouts, especially after the COVID-19 outbreak, has significantly bolstered the demand for exercise bikes.
Manufacturers are introducing several advanced features in exercise bikes, such as enabling users to watch live-streaming videos while exercising. Also, manufacturing companies are releasing virtual reality workout bikes that allow users to experience cycling in a variety of diverse environments, including the Amazon jungle and desert, among others, which is likely to favour the exercise bike market demand in the coming years.
It is expected that North America will significantly contribute to the market growth due to the rising prevalence of obesity and other health disorders. The increasing adoption of healthier lifestyles among consumers with rising disposable incomes is anticipated to accelerate the market growth in the coming years.
Key Market Players
The major players in the global exercise bike market report include Icon Health & Fitness, Inc., Precor Incorporated, TECHNOGYM S.p.A, and Nautilus Inc., 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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