Exercise Bike Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global exercise bike market size reached US$ 663.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 888.7 Million by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.
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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global exercise bike market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type and end-user.
Breakup by Product Type:
Recumbent Exercise Bike
Upright Exercise Bike
On the basis of product type, the market has been segmented into recumbent and upright exercise bikes. Presently, recumbent exercise bike accounts for majority of the market share.
Breakup by End-User:
Based on end-user, the report finds that home consumers currently represent the largest sector of exercise bike.
Middle East and Africa
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.
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:
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
1. What was the size of the global exercise bike market in 2022?
2. What is the expected growth rate of the global exercise bike market during 2023-2028?
3. What are the key factors driving the global exercise bike market?
4. What has been the impact of COVID-19 on the global exercise bike market?
5. What is the breakup of global exercise bike market based on the product type?
6. What is the breakup of global exercise bike market based on the end-user?
7. What are the key regions in the global exercise bike market?
8. Who are the key players/companies in the global exercise bike market?
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