About the Exercise Bike Market
Exercise bikes are a great option to increase stamina and are among the main fitness equipment in cardio fitness regimes. They are used by all level of exercisers, including beginners, intermediate, and advanced levels of users. Exercising bikes focus on strength training of the lower body, and the option to increase or decrease the resistance offered by the bike gives more flexibility to the user. The repeated cycling motion burns fat as well as exercises muscles. The constant contraction and expansion of muscles provide isotonic exercise.
Technavio’s analysts forecast the global exercise bike market to grow at a CAGR of 3.66% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global exercise bike market for 2016-2020. For the purpose of arriving at market size, the study considers the worldwide sales of recumbent exercise bikes and upright exercise bikes in the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Exercise Bike Market 2016-2020
Technavio recognizes the following companies as the key players in the global exercise bike market: Brunswick, ICON Health & Fitness, Nautilus, Precor, and Technogym.
Other Prominent Vendors in the market are: Asian Sports & Enterprises, Bladez Fitness, Body-Solid, Ciclotte, Jerai Fitness, Johnson Health Tech, and Kettler.
Commenting on the report, an analyst from Technavio’s team said: “A trend which will propel market growth is the emergence of smart exercise bikes. Exercise bike manufacturers, with the help of advanced technologies, have mitigated the problem to an extent. For instance, Peloton has introduced a connected exercise bike, which is a smart bike that allows the user to bike in the comfort of their home. The user can watch live streams of a real indoor biking class on the screen while cycling.”
According to the report, a key growth driver is rising health costs. Obesity is one of the main concerns in developed economies. Many dieticians are emphasizing the importance of diet plans in countries like the US. However, a large portion of the population still has obesity. According to a government review, two-thirds of those who tried dieting regained weight within a year and 97% gained it back within five years. Obesity, being one of the main reasons of chronic diseases, is also increasing the healthcare costs in countries like the US, where the annual healthcare cost is estimated to be $147-$210 billion per year.
Further, the report states that one challenge that could restrict market growth is increased competition from low-cost products.
Brunswick, ICON Health & Fitness, Nautilus, Precor, Technogym, Asian Sports & Enterprises, Bladez Fitness, Body-Solid, Ciclotte, Jerai Fitness, Johnson Health Tech, Kettler.
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