People today have become very concerned about how they look. To overcome the problem of obesity, they have started to adopt different diet plans and exercise regiments. Furthermore, they have started investing in gym memberships and home workout equipment such as treadmill, skip ropes, exercise bikes and more among others
According to a new report published by Allied Market Research, titled, โHome Exercise Bike Market by Type, and Sales Channel: Opportunity Analysis and Industry Forecast, 2021โ2027,โ The global home exercise bike market size was valued at $1,213.5 million in 2019, and is projected to reach $2,335.2 million by 2027, registering a CAGR of 8.7% from 2021 to 2027. The recumbent segment is expected to retain its dominant position, in terms of revenue generation, throughout the forecast period. North America held a leading position in the global market in 2019, and is expected to maintain its dominance in the future.
LIMITED-TIME OFFER – Buy Now & Get Exclusive Discount on this Report
The growth of the home exercise bike market can be attributed to growing population all around the world. Increase in health awareness and rise in need for active, healthy lifestyle across the world are the key drivers of the fitness equipment market. Sedentary lifestyle and changes in eating habits have led to increased health risks. Therefore, increase in awareness toward regular physical activities to maintain healthy lifestyle has boosted the growth of the fitness equipment market, in-house equipment in particular. In addition, majority of the geriatric population in developed and developing countries use unique fitness equipment to improve their cardiovascular conditions. This trend is significantly driving the market for fitness equipment. However, high cost and availability of counterfeit exercise equipment act as the major restraint for the global market. On the contrary, rising disposable income of people and growing concerns about body image among people is expected to provide opportunities for the global home exercise bike market growth.
The Home Exercise Bike market is segmented into type, sales channel and region. The type segment includes recumbent bike, upright bike, dual action bike, and interactive bike. On the basis of sales channel, the market is classified into online, and physical store. Region wise, it is analyzed across North America (the U.S., Mexico, and Canada), Europe (Germany, UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
Based on home exercise bike market forecast by type, the recumbent bike segment was the highest revenue-generating segment, accounting for a major share in 2019. The growth in this segment can be attributed to features such as easily available, affordability and low stress on the lower back and spine. The upright bike segment is expected to witness modest growth rate of during the forecast period.
Based on the home exercise bike market analysis by sales channel, the physical store segment generated maximum revenue in 2019. The dominance of this segment can be attributed to the consumers being able to try before purchase. Furthermore, consumer get immediate gratification when they purchase through physical outlets which further drives the market growth. However, the online segment is expected to witness the fastest growth rate throughout the forecast period. This can be attributed rapidly growing dependence on online shopping and growing penetration internet all around the world.
Request The Free Sample PDF Of This Report (Flash Sale Till 20th August 2022):– https://www.alliedmarketresearch.com/request-sample/6684
Region wise, North America was the largest market, in terms of revenue generation, with almost one-third share in 2019. U.S. is further expected to expand at notable growth rate while dominating the home exercise bike market share with the highest share throughout the forecast period. On the contrary, Asia-Pacific is expected to garner the highest growth rate. The growth in this region can be attributed to growing awareness about health and fitness.
Key Findings Of The Study
On the basis of type, the recumbent segment is projected to witness the growth rate, during the forecast period.
On the basis of sales channel, the physical store 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.
U.S. was the largest country, in terms of revenue generation for home exercise bike in 2019.
Asia-Pacific is anticipated to witness highest growth rate, from 2021 to 2027.
Key players in the home exercise bike market have relied on strategies such as product launch and business expansion, to expand their market share and to stay relevant in the global home exercise bike market. The key players in the home exercise bike industry profiled in the report are KPS Capital Partners, Icon Health & Fitness Inc., Nautilus, Precor, Technogym, Sunny Health and Fitness, Body Solid, Ciclotte, Jhonson Health Tech, and Paradigm Health & Fitness.
Main Offerings-
1. The report crafted by AMR on the Home Exercise Bike Market doles out a wide-ranging study of global market share, key determinants of the growth, country-level stance, segmental assessment, market prospects, and the major trends.
2. Porterโs five forces model, on the other hand, cites the efficacy of buyers & sellers, which is important to help the market players implement fruitful stratagems. Furthermore, the research study includes,
– Threat of new competitors
– Threat of new stand-ins
– Bargaining clout of suppliers as well as consumers
– Rivalry among key players
3. An explicit analysis of the driving and restraining factors of the Home Exercise Bike Market is also provided in the report.
๐ฅ๐ฒ๐พ๐๐ฒ๐๐ ๐๐ผ๐ฟ ๐๐๐๐๐ผ๐บ๐ถ๐๐ฎ๐๐ถ๐ผ๐ป (Flash Sale Tell 20th August 2022):– https://www.alliedmarketresearch.com/request-for-customization/6684
Reasons to Buy This Home Exercise Bike Market Report:
> Mergers and acquisitions should be well-planned by identifying the best manufacturer.
> Sort new clients or possible partners into the demographic youโre looking for.
> Suitable for providing dependable and high-quality data and analysis to assist your internal and external presentations.
> Develop tactical initiatives by gaining a better grasp of the areas in which huge corporations can intervene.
> To increase and grow business potential and reach, develop and plan licencing and licencing strategies by finding possible partners with the most appealing projects.
> Recognize newcomers with potentially strong product portfolios and devise effective counter-strategies to acquire a competitive edge.
> To develop effective R&D strategies, gather information, analysis, and strategic insight from competitors