Portland, OR, March 23, 2021 (GLOBE NEWSWIRE) -- According to the report Allied Market Research, the global home exercise bikes industry was pegged at $1.21 billion in 2019, and is estimated to reach $2.33 billion in 2027, witnessing a CAGR of 8.7% from 2021 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Increase in awareness among people regarding physical health, growth in concern for obesity and hypertension, and trend of muscular body building fuel the growth of the global home exercise bikes market. On the other hand, high-cost of the exercise bikes restrains the market growth. Nevertheless, innovations in the features of home exercise bikes is expected to present an array of opportunities in the coming years.
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Covid-19 Scenario
- The covid-19 outbreak impacted the production of the home exercise bikes, thereby affecting the growth of the market.
- Owing to the prolonged lockdown across the globe, the retail stores were also suspended, which further restrained the sales of home exercise bikes.
- However, during the lockdown the adoption of healthy lifestyle has been increased followed by the surge in awareness regarding health concerns. Which in turn has increased the popularity of home exercise bikes. This factor has grown the demand for the product and the market is expected to get accelerated post pandemic as well.
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The Home Exercise Bike market is segmented into type, sales channel and region. Based on type, the recumbent bike segment dominated the market with largest market share in 2019, holding for around two-fifths of the global market, and is expected to maintain its lead position throughout the forecast period. Furthermore, this segment is anticipated to register at the fastest CAGR of 9.2% from 2020 to 2027.
Based on sales channel, the physical store segment held the highest market share in 2019, with more than two-thirds of the global market, and is estimated to lead the trail by 2027. On the other hand, the online segment is anticipated to showcase at the largest CAGR of 9.2% during the forecast period.
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Based on region, the market is studied across regions including Asia-Pacific, Europe, LAMEA< and North America. The North America region accounted for the highest share in terms of revenue with nearly two-fifths of the total share in 2019, and will rule the roost during the forecast period. At the same time, the market across Asia-Pacific is estimated to portray the highest CAGR of 10.9% from 2020 to 2027.
Leading market players profiled in the report include Brunswick, Technogym, Precor Incorporated, ICON Health & Fitness, Bladez Fitness, ICON Health & Fitness, Asian Sports & Enterprises, Body-Solid, and Ciclotte, Johnson Health Tech.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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