Home Exercise Bikes Market to Reach $2.33 Bn, Globally, by 2027 at 8.7% CAGR: Allied Market Research

PORTLAND, Ore., Jan. 12, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Home Exercise Bikes Market Type (Upright Exercise Bike, Recumbent Exercise Bike, Folding Exercise Bike, Dual-Action Stationary Bike) End User (Male, Female) : Global Opportunity Analysis and Industry Forecast, 2021-2027" According to the report, the global home exercise bikes industry generated $1.21 billion in 2019, and is estimated to reach $2.33 billion in 2027, witnessing a CAGR of 8.7% from 2021 to 2027.

https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

Drivers, restraints, and opportunities

Rise in awareness among people regarding physical health, growth in concern for obesity and hypertension, and trend of muscular body building drive the growth of the global home exercise bikes market. However, high-cost of the exercise bikes hinders the market growth. On the other hand, innovations in the features of home exercise bikes create new opportunities in the coming years.

Request Sample Report at : https://www.alliedmarketresearch.com/request-sample/6684

Covid-19 Scenario

    --  The covid-19 outbreak led to a sharp decline in the production of the
        home exercise bikes, which affected the growth of the market.
    --  The prolonged lockdown across the globe also led to shutdown of retail
        stores, which further hampered the sales of home exercise bikes.
    --  However, the adoption of healthy lifestyle has been increased during
        lockdown. At the same time the awareness regarding health concerns
        further increased the popularity of home exercise bikes. This factor has
        grown the demand for the product and this drift would continue to grow
        post pandemic as well.

The recumbent bike segment to maintain its dominant position throughout the forecast period

Based on type, the recumbent bike segment held the largest market share in 2019, accounting for around two-fifths of the global home exercise bikes market, and is projected to maintain its dominant position throughout the forecast period. Moreover, this segment is expected to grow at the fastest CAGR of 9.2% from 2020 to 2027. This is due to its features such as having low impact on the back of users and being easy to use in general.

The physical store segment to maintain its leadership status by 2027

Based on sales channel, the physical store segment contributed to the highest market share in 2019, holding more than two-thirds of the global home exercise bikes market, and is estimated to maintain its leadership status by 2027. The increase in adoption of physical store retail formats such as the supermarket and hypermarket in both the mature and emerging markets drive the growth of the segment. However, online segment is expected to grow at the largest CAGR of 9.2% during the forecast period. This is attributed to rise in popularity of internet and availability of a wide range of products at a discounted price.

North America to continue its lead position during the forecast period

Based on region, North America held the highest share in terms of revenue of the global home exercise bikes market, accounting for nearly two-fifths of the total share in 2019, and will continue its lead position during the forecast period. This is due to the presence of a large number of domestic players in the region. Also, high disposable income and exercise culture further induce the market growth. However, Asia-Pacific is estimated to manifest the highest CAGR of 10.9% from 2020 to 2027. Improvement in the infrastructure and convenience in setting up new businesses, and increase in disposable income and easy availability of home exercise equipment due to the adoption of e-commerce drive the growth of the market in this province.

For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/6684

Leading market players

    --  Brunswick
    --  Technogym
    --  Precor Incorporated
    --  ICON Health & Fitness
    --  Bladez Fitness
    --  ICON Health & Fitness
    --  Asian Sports & Enterprises
    --  Body-Solid
    --  Ciclotte, Johnson Health Tech

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Similar Reports:

Fishing Equipment Market: Global Opportunity Analysis and Industry Forecast, 2021-2027

Fantasy Sports Market: Global Opportunity Analysis and Industry Forecast, 2021-2027

Yoga Market: Global Opportunity Analysis and Industry Forecast, 2021-2027

Water Sports Gear Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting services to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research

View original content:http://www.prnewswire.com/news-releases/home-exercise-bikes-market-to-reach-2-33-bn-globally-by-2027-at-8-7-cagr-allied-market-research-301206149.html

SOURCE Allied Market Research