The global exercise bike market was worth US$ 492 Million in 2018. The market is further projected to reach around US$ 598 Million by 2024, exhibiting at a CAGR of 3.3% during 2019-2024. Exercise bike, also known as stationary cycle, is an immobile fitness machine which resembles an ordinary bike. It has various sub-parts which include a saddle, pedals, handlebars and foot straps. In comparison with other exercising equipment, an exercise bike offers a lower-impact workout which is apt for those who are suffering from lower back or joint issues. Moreover, it assists in improving the overall fitness of the body by reducing weight, and combating lifestyle diseases such as stress, diabetes and hypertension.
Global Exercise Bike Market Drivers:
- On account of hectic work schedules, sedentary lifestyles and altering food preferences, consumers are relying more on fast-food items and ready-to-eat food products which are low in nutritional content and high in unhealthy fats. This has led to a rise in the cases of obesity as well as other chronic diseases. Increasing health consciousness among the global population has boosted the demand for exercise bikes as they provide isotonic exercise to the body and help in improving stamina, stimulating heart rate, and burning down the overall body fat.
- Manufacturers are coming up with several innovations in exercise bikes so as to widen their consumer-base. Nowadays, an exercise bike allows the user to view a live stream video in the screen while cycling. Along with this, the manufacturers have recently introduced virtual reality exercise bikes which help in creating a completely different ambience for the users.
- Other factors which are supporting the growth of the market include rising purchasing power, improving lifestyles, growing youth population as well as rising prevalence of diabetes and cardiac diseases.
Breakup by Product Type:
- On the basis of product type, the market has been segmented into recumbent and upright exercise bikes. Presently, recumbent exercise bike accounts for the majority of the market share.
Breakup by End-Use:
- Based on end-use, the report finds that home consumers currently represent the largest sector of exercise bike. The home consumers segment is followed by gym/health clubs and others.
- On a geographical front, North America enjoys the leading position in the global exercise bike market on account of mounting cases of obesity and other diseases in the region. North America is followed by Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The market is fragmented in nature with the presence of several small as well as large manufacturers. Some of the key players operative in the market include:
- Brunswick Corporation
- Icon Health & Fitness, Inc.
- This report provides a deep insight into the global exercise bike market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the exercise bike industry in any manner.
Key Questions Answered in This Report:
- How has the global exercise bike market performed so far and how will it perform in the coming years?
- What are the key regions in the global exercise bike market?
- Which are the popular product types in the global exercise bike market?
- What are the major end-use sectors in the global exercise bike market?
- What are the various stages in the value chain of the global exercise bike market?
- What are the key driving factors and challenges in the global exercise bike market?
- What is the structure of the global exercise bike market and who are the key players?
- What is the degree of competition in the global exercise bike market?
- How is exercise bike manufactured?