Global Exercise Bike Market Share, Size And Growth Forecast Report Till 2022
The global exercise bike market has witnessed a healthy growth over the past several years. This can be accredited to the rising health issues, growing trend of fitness clubs, product innovations and inflating disposable incomes.
united states, 3 May 2018 -- The latest report by IMARC Group, titled “Exercise Bike Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global exercise bike market reached a value of US$ 476 Million in 2017. Exercise bike, also known as exercise bicycle, spinning bike, spin bike, or exercycle, is a stationary device similar to a bicycle and consisting of a saddle, pedals, and some form of handlebars. These bikes are used as an exercise equipment for the purpose of increasing general fitness and training. The recurring cycling motion results in burning fat and exercising the muscles. This low-impact, safe, and effective cardiovascular exercise provided by the exercise bikes has made them highly popular across the globe.
Highlights of the global exercise bike market:
Increasing health awareness among the consumers remains the key growth inducing factor.
Recumbent exercise bikes represent the most popular product type.
North America is the leading market, holding the majority of the total share.
The global exercise bike market is driven by the growing number of lifestyle diseases such as obesity, diabetes, hypertension and stress, and the subsequent health consciousness among the consumers. In line with this, rising number of fitness clubs, gyms and health centers have stimulated the demand for exercise bikes globally. Moreover, manufacturers are now working extensively on product innovations, to widen their consumer base. Some of the new technologies include bikes that allow the rider to watch live stream videos on its screen while cycling in the studio, or cycle through different landscapes around the world by virtual reality. Additionally, on account of surging disposable incomes, consumers are now willing to spend more on their fitness and also prefer to own private equipment within the comfort of their homes. Owing to the abovementioned factors, the market is expected to reach a value of US$ 585 Million by 2023, exhibiting a CAGR of 3.5% during 2018-2023.
The market has been segmented on the basis of product type, including recumbent exercise bikes, upright exercise bikes and others such as indoor bikes, dual action stationary bikes, etc. Amongst these, recumbent exercise bikes represent the most popular product type. Based on applications, the home consumers segment accounts for the largest share, followed by gyms/health clubs. Region-wise, North America represents the leading market, followed by Europe and Asia Pacific. Other regions include Latin America, and Middle East and Africa. On evaluating the competitive landscape of the market, it is found that Brunswick Corporation, Icon Health & Fitness, Inc., Nautilus, Precor and Technogym are the key players operative in the market.
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