Global Home Exercise Bike Market Report and Forecast 2024-2032

Global Home Exercise Bike Market Outlook

The global home exercise bike market reached a value of about USD 1,690.02 million in 2023. The industry is further expected to grow at a CAGR of about 7.7% in the forecast period of 2024-2032 to reach a value of around USD 3,266.12 million by 2032.

North America to be a Significant Regional Market for Home Exercise Bike

North America is expected to be one of the significant regions for the global exercise bike market due to increasing health awareness and the rising prevalence of obesity-related diseases across the region. The United States is expected to expand at a notable growth rate with the highest share throughout the forecast period. The growth in this region can be attributed to growing awareness about health and fitness, growing adoption of exercises related to physical well-being, weight management, improving body stamina and muscular strength.

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The rising preventive healthcare measures and the augmenting healthcare costs enable consumers to engage in regular workouts to remain fit. Additionally, with the growing demand, manufacturers operating in the global market are expanding their presence to achieve a competitive advantage. Also driving the market's growth is the presence and availability of foreign brands due to strong or limited competition from local and domestic companies. The majority of geriatrics population in both developed and developing countries use specialised workout equipment to improve their cardiovascular health, which is further aiding the growth of the industry.

The COVID-19 outbreak impacted the production of home exercise bikes, thereby affecting the market's growth. Retail stores and gyms were also closed because of the lockdown, which hindered the sales of home exercise bikes. During the shutdown, however, the adoption of a healthy lifestyle increased, followed by a rise in awareness about the health risks of utilising equipment at home, which has boosted the popularity of home exercise bikes. This has increased demand for the product, and the market is projected to gain momentum post the pandemic.

Home Exercise Bike: Market Segmentation

An exercise bike, also known as a stationary cycle, is a stationary workout machine that looks like a regular bike. It is made up of several components, including a saddle, pedals, handlebars, and foot straps. When compared to other types of exercise equipment, an exercise bike provides a lower-impact workout that is ideal for people with lower back or joint problems. It aids in increasing overall body fitness by assisting in weight loss and the prevention of lifestyle disorders such as stress, diabetes, and hypertension.

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By type, the market is divided into:

• Recumbent Bike
• Upright Bike
• Dual Action Bike
• Interactive Bike

Based on sales channel, the home exercise bike market is segmented into:

• Online
• Physical Store

The regional markets for home exercise bike industry can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Increase in Health Awareness Boosting the Market Growth

The increasing health awareness and demand for active, healthy lifestyles around the world has fuelled the growth of the home exercise bike industry. One of the market's main drivers is the increasing population. Increased health risks have resulted from sedentary lifestyles and dietary changes. As a result, the growth of the home exercise bike market has been aided by increased awareness of the importance of regular physical activities in maintaining a healthy lifestyle. The emergence of COVID-19 has had a favourable impact on the global market's growth. Due to the temporary shutdown of gyms and training centres around the world, sales of home exercise bikes have increased. Consumers are relying more on fast-food items and ready-to-eat food products that are low in nutritious content and high in harmful fats because of hectic work schedules and changing eating preferences. Obesity and other chronic disorders have increased because of this. Increased health awareness among the world's population has boosted demand for exercise bikes, which provide isotonic exercise to the body and aid in boosting stamina, stimulating heart rate, and burning body fat. Other factors that are boosting the market's growth include rising purchasing power, improved lifestyles, a growing youth population, and rising diabetes and cardiac disease prevalence.

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Key Industry Players in the Global Home Exercise Bike Market

The report gives a detailed analysis of the following key players in the global home exercise bike market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Body Solid, Inc.
• Ciclotte
• Paradigm Health & Wellness, Inc.
• TECHNOGYM S.p.A
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

Home Exercise Bike Market Report Snapshots

Home Exercise Bike Market Size

Home Exercise Bike Market Growth

Home Exercise Bike Companies