Global Home Exercise Bike Market to expand at a CAGR of 9% by 2030

Introduction

Exercise bikes for the home are stationary fitness equipment used to improve and maintain cardiovascular health and reduce body fat. Unlike its gym counterpart, the home exercise bike is used for workouts at home. It consists of parts like the saddle, handlebars, pedals, and foot straps. Generally, no training is required to operate the machine; however, some variants of this equipment may need a certain level of specialized expertise to function correctly. As a result of an increasingly sedentary lifestyle and dietary shifts, health risks have increased. Consequently, raising awareness of regular physical activity to maintain a healthy lifestyle has expanded the exercise bike industry, particularly the in-home equipment market.

The expansion of the home exercise bike market can be attributed to the global rise in health awareness. The need for exercise equipment is primarily driven by the worldwide increase in health awareness and the demand for an active, healthy lifestyle. Moreover, most geriatrics in developed and developing countries utilize specialized fitness equipment to improve their cardiovascular health. This pattern has a significant impact on the fitness equipment market. Nonetheless, counterfeit exercise equipment's high cost and availability are the most considerable restraint on the global market. On the contrary, it is anticipated that an increase in disposable income and body image concerns will create growth opportunities for the worldwide market.

Market Dynamics

The Growing Health Concerns and Obese Population to Drive the Global Home Exercise Bike Market

The expansion of the market for exercise bikes that can be used at home is primarily driven by the rising health consciousness of consumers and the demand for lifestyles that involve more physical activity and nutritious food. A sedentary lifestyle and dietary changes have contributed to individuals' health risks. Consequently, increased awareness of regular physical activity to maintain a healthy lifestyle is one of the primary drivers of market expansion. Additionally, most senior citizens in developed and developing countries use specialized fitness equipment to improve their cardiovascular health. Consequently, the demand for home exercise bikes is growing.

The alarming increase in global obesity, particularly in urban areas, contributes to the growth of the market for home exercise bike. As per the World Health Organization, there has been a startling increase in obese people worldwide. In 2016, 39% of adults aged 18 and older globally were overweight, while 13% were obese. Forty-one million kids under five were overweight or obese in the same year. Moreover, more than 340 million children and youth aged 5 to 19 were overweight or obese. Several health issues and disorders have been associated with obesity. Diabetes, hypertension, hypotension, and sudden cardiac arrest are a few examples. Obese individuals tend to utilize fitness equipment more frequently to improve their health, reduce stress, and increase blood circulation, thereby increasing the demand for these products, and increasing the demand for home exercise bikes.

Growing Body Image Concerns to Create Global Home Exercise Bike Market Opportunities

The widespread adoption of extreme lifestyles inspired by the entertainment industry and social media has increased body shaming. As a direct result, people in modern society place great importance on their appearance. They have begun following various diet and exercise regimens to enhance their perception of their physical appearance. In addition, they have started spending money on gym memberships and various home exercise equipment, including treadmills, jump ropes, and exercise bikes. These factors are anticipated to increase the global demand for home exercise equipment and generate growth opportunities.

Regional Insights

North America will command the market with the largest market share and grow at a CAGR of 8.6% during the forecast period. North America has a high consumer goods per capita sales rate because it is a developed region with highly developed distribution channels. The North American market for home exercise bikes has experienced a substantial increase in demand due to the market's growing demand for home exercise bikes. As a result of the lucrative growth opportunities available in North America, market participants are expanding their operations there to strengthen their foothold in the home exercise bike market.

In addition, the fact that consumers are becoming more interested in exercising indoors due to the ongoing pandemic is aiding the introduction of new exercise bikes to the market. In addition, younger wealthy consumers in the region strongly prefer physical fitness and maintaining a healthy weight and body composition. This propels the growth of the home exercise bike market in the region, as individuals frequently search for home exercise equipment to achieve their desired body composition.

Europe will hold a share of USD 819 million while growing at a CAGR of 7.9% during the forecast period. Europe is regarded as the world's most developed market for consumer goods. The expansion of the home exercise bike market in the region is fueled in part by an increase in the amount of investment made in research and development by the various market participants. In the European market, there is a high demand for home exercise bikes due to a spike in the proportion of people who use these bikes for home workouts. Several of the most prominent market participants have relied on developing innovative products and technological advancements to secure a substantial market share in this particular geographic region. In addition, the increasing number of women who are active members of the fitness community is a significant factor in the growth of this market in Europe.

Key Highlights

• The global exercise bike market had a revenue share of USD 1,412 million in 2021, expected to reach USD 2,814 million and grow at a CAGR of 9% during the forecast period.
• Based on type, the recumbent bike segment is estimated to hold the most significant market proportion growing at a CAGR of 9.4% throughout the forecast period.
• Based on the sales channel, the physical store segment is expected to hold the largest share during the forecast period and grow at a CAGR of 8.7%.
• Based on regional analysis, North America will command the market with the largest market share, growing at a CAGR of 8.6%.

Competitive Players

Competitive Players in the Market

• KPS Capital Partners
• Icon Health & Fitness Inc.
• Nautilus
• Precor
• Technogym
• Sunny Health and Fitness
• Body-Solid
• Ciclotte
• Johnson Health Tech
• Paradigm Health & Fitness.

Recent Developments

Market News

• In 2022, KPS Capital Partners completed the acquisition of Grupo Euskal Forging, S.L., and its subsidiaries.
• In 2022, KPS Capital Partners announced the acquisition of Oldcastle BuildingEnvelop Inc.
• In 2022, Johnson Health Tech announced the acquisition of the fitness division of Cravatex Brands Limited.

Segmentation

Global Home Exercise Bike Market: Segmentation

By type

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

By sales channel

• Online
• Physical Stores

By region

• North America
• Europe
• Asia-Pacific
• LAMEA