Home Exercise Bikes Market
Home exercise bike is a machine used for workout at the comfort of home. It consists of various sub-parts including a saddle, handlebars, pedals, and foot straps which helps an operator to exercise various parts of upper body and lower body. It is also used by people suffering from joint issues or lower back problems as it offers lower-impact workout.
COVID-19 Scenario Analysis:
• The closure of factories due to COVID-19 led to decline in the production of the home exercise bikes in the industries. This not only affected the scale of production but also the growth of these industries.
• The online platforms, shops and retail stores were shut due to lockdown observed worldwide. This also affected the trade of these products which in turn hampered the sales of home exercise bikes in various countries around the world.
• Home exercise bikes have gained popularity among the people due to increase in awareness of adoption of healthy lifestyle. This is expected to boost the sale of these exercise bikes after worldwide release of the lockdown situation due to COVID-19.
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Increase in the awareness among the people regarding the physical health, rise in concern for obesity and hypertension, and trend of building muscular bodies are some of the major factors that contribute toward the growth of the market. Other factors like increase in disposable income and improvement in living standards are expected to boost the sales of home exercise bikes.
However, high cost of the exercise bikes hampers the growth of the market.
The global home exercise bikes market trends are as follows:
Innovations in the features of Home exercise bikes
Major players of the market are using advanced technology to offer special features in the exercise bikes. They are making the exercise bikes smarter and well equipped with multiple features. For example, Peloton had introduced the range of bikes that allow users to bike within the comfort of the home with the feel of health clubs and gym. Screen is also installed in these home exercise bikes, which allow users to learn from on-demand training modules. Also, an individual can take virtual bike trip through exciting landscapes and tracking zones of various locations around the world.
Potential markets for home exercise bikes
North America is doing really well on the global market of home exercise bikes and is likely to maintain the dominance in the coming years. The region is experiencing, increasing prevalence of obesity and related problems. This makes the people include exercise in their daily routine. This boosts the sales of home exercise bikes. Rise in disposable income and increase in healthcare expenditure urge people to adopt exercising in their daily routine in Asia-Pacific, Middle East, and Africa. This increases the sales of these bikes in these regions.
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♦Companies covered Brunswick, Technogym, Precor Incorporated, ICON Health & Fitness, Bladez Fitness, ICON Health & Fitness, Asian Sports & Enterprises, Body-Solid, Ciclotte, Johnson Health Tech
Key Benefits of the Report:
• This study presents the analytical depiction of the global home exercise bikes industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global home exercise bikes market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global home exercise bikes market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global home exercise bikes market analysis based on competitive intensity and how the competition will take shape in the coming years.
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