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2020
Home Exercise Bike Market

Home Exercise Bike Market

by type (Recumbent Bike, Upright Bike, Dual Action Bike, and Interactive Bike), Sales Channel (Online and Physical Store): Global Opportunity Analysis and Industry Forecast, 2021-2027
Update Available On-Demand

Report Code: A06319
Pages: 200
Dec 2020 | 12498 Views
Author(s) : Sumesh K , Roshan D
Tables: 90
Charts: 51
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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.  

Home exercise bikes are stationery workout equipment used to improve and maintain cardiovascular health. It is also used to cut down body fat. Unlike the gym variants, the home exercise bike is used to work out from home. It consists of subparts such as saddle, handlebars, pedals, and foot straps.  The machine usually do not require any form of training before use but, some variants of these equipment may require some technical knowhow to operate effectively. 

Home exercise bikes is included in the category of products that is considered a onetime purchase for a number of consumers. Hence, the demand for such products low among consumers. The outbreak of the
novel coronavirus has positively affected the growth of the market worldwide. There has been an increase in sales of home exercise bikes due to shutdown of gym and workout centers all around the world.

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 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).

Home Exercise Bike Market
By Type

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Recumbent segment was the fastest growing segment.

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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.

Home Exercise Bike Market
By Sales Channel

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Online was the fastest growing segment.

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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.

Home Exercise Bike Market
By Region

2027
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific was the fastest growing segment.

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Based on the region, 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 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.

Key Benefits For Stakeholders

  • The report provides a quantitative analysis of the current home exercise bike market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the market size and segmentation assists to determine the prevailing home exercise bike market opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market. 
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry.

Home Exercise Bike Market Report Highlights

Aspects Details
BY TYPE
  • RECUMBENT BIKE
  • UPRIGHT BIKE
  • DUAL ACTION BIKE
  • INTERACTIVE BIKE
BY SALES CHANNEL
  • ONLINE
  • PHYSICAL STORE
BY REGION
  • NORTH AMERICA  (US, CANADA, MEXICO)
  • EUROPE  (GERMANY, UK, FRANCE, ITALY, SPAIN, REST OF EUROPE)
  • ASIA-PACIFIC  (CHINA, INDIA, JAPAN, SOUTH KOREA, AUSTRALIA, REST OF ASIA-PACIFIC)
  • LAMEA  (LATIN AMERICA, MIDDLE EAST, AFRICA)
Key Market Players ICON HEALTH & FITNESS INC, BODY SOLID, Inc, CICLOTTE, JHONSON HEALTH TECH, KPS CAPITAL PARTNERS, LP, NAUTILUS Inc, ANTA SPORTS PRODUCTS LIMITED, PARADIGM HEALTH & WELLNESS, INC, SUNNY HEALTH AND FITNESS, TECHNOGYM S.p.A.
 

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The home exercise bike market holds a substantial scope for growth. The market, which is in its growth stage, is expected to contribute significantly to the global market in the next six years. With governments in different countries promoting the trend of active lifestyle and physical fitness, the global market of exercise equipment is expected to garner promising growth rate over the forecasted period of time. Moreover, rise in the affinity of people towards exercise is expected to drive the home exercise bike market. However, high cost and availability of counterfeit exercise equipment act as the major restraint for the home exercise bike market. On the contrary, rise in disposable income of consumers along with growing popularity of home workout is expected provide growth opportunities for the coming years.

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FREQUENTLY ASKED QUESTIONS?

A. The global home exercise bike market is projected to reach $2,335.2 million by 2027.

A. The global home exercise bike market is projected to grow at a CAGR of 8.7% from 2021-2027.

A. The sample can be acquired from the official allied market research website.

A. North America region dominated in the global Home Exercise Bikes market in 2019.

A. The home workout sessions have been trending the home exercise bike market.

A. The Home Exercise Bike market is segmented into type, sales channel and region.

A. Emerging countries in Asia-Pacific and LAMEA region is expected to garner high growth rates over the forecast period.

A. The outbreak of the novel coronavirus has positively affected the growth of the market worldwide. There has been an increase in sales of home exercise bikes due to shutdown of gym and workout centers all around the world.

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