Home Exercise Bike Market Surpasses $2,335.2 Million as Demand for Gyms and Training Centers Continues to Rise

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home exercise bike market

Asia-Pacific is expected to register the highest growth rate. Growth in this region can be attributed to growing awareness of health and fitness.

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, USA, Oct. 6, 2022 /EINPresswire.com/ — According to a new report released by Allied Market Research, titled “Home Exercise Bike Market by Type, and Sales Channel : Opportunity Analysis and Industry Forecast, 2021–2027”, 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 bike segment is expected to maintain 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.

“Today people have become very concerned about their appearance. To overcome the problem of obesity, they started adopting different diets and exercise regimes. , exercise bikes and more among others “

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The growth of the home exercise bike market can be attributed to the growing population across the globe. Rise in health awareness and rising need for active and healthy lifestyle across the globe are major drivers of the fitness equipment market. Sedentary lifestyle and changes in eating habits have led to increased health risks. Hence, the increased awareness of regular physical activities to maintain a healthy lifestyle has boosted the growth of the fitness equipment market, especially internal equipment. Also, majority of the geriatric population in both developed and developing countries use unique fitness equipment to improve their cardiovascular conditions. This trend is significantly boosting the fitness equipment market. However, the high cost and availability of counterfeit exercise equipment is the major barrier to the global market. On the contrary, increasing disposable income of people and rising concerns regarding people’s body image are expected to provide opportunities for the growth of the global home exercise bike market.

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. Based on sales channel, the market is categorized into online store and physical store. By region, it is analyzed in North America (United States, Mexico and Canada), Europe (Germany, United Kingdom, 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 the home exercise bike market forecast by type, the recumbent bike segment was the top revenue-generating segment, accounting for a major share in 2019. The growth of this segment can be attributed to features like than ease of access, affordability and low stress on the lower back and spine. The upright bike segment is expected to witness a modest growth rate over the forecast period.

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Based on the analysis of the home exercise bike market by sales channel, the physical store segment generated maximum revenue in 2019. The dominance of this segment can be attributed to the fact that consumers can try before to buy. Additionally, consumers get immediate gratification when they shop at physical outlets, which further drives the growth of the market. However, the online segment is expected to witness the fastest growth rate throughout the forecast period. This can be attributed to the growing reliance on online shopping and growing internet penetration worldwide.

Regionally, North America was the largest market, in terms of revenue generation, with almost a third share in 2019. The United States is further expected to grow at a 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 record the highest growth rate. Growth in this region can be attributed to growing awareness of health and fitness.

Main results of the study

On the basis of type, the coated segment is expected to witness the growth rate over the forecast period.
Based on the sales channel, physical stores 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.
The United States was the largest country in terms of revenue generation for home exercise bikes in 2019.
Asia-Pacific is expected to experience the highest growth rate, from 2021 to 2027.

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The major players in the home exercise bike market have relied on strategies, such as product launch and business expansion, to grow their market share and stay relevant in the global home exercise bike market . The major 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. .

TRENDS REPORTS: –
Boutique Fitness Market https://www.alliedmarketresearch.com/boutique-fitness-market-A06362
Golf Club Grips Market https://www.alliedmarketresearch.com/golf-club-grips-market-A06831

David Correa
Allied Analytics LLP
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