Recumbent Bike Market| By 2027 Top Winning Strategies, COVID-19 Impacting Factors, Business Strategies | Key Players - ICE, TerraTrike, Gekko fx, Sun Seeker Bicycles, Challenge Recumbents, JOUTA, Mobo, Schwinn, Performer, Artifice.
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COVID-19 scenario analysis:
• Countries around the world have responded to the COVID-19 coronavirus with lockdowns, restrictions, and other solution.
• Moreover, the pandemic caused massive disruption in business execution across the automotive industry.
• The investments have been frozen and the advancements towards newer technologies have stopped.
• However, due to rising level of obesity owing to lack of physical exercise during lockdown, the demand for fitness products is anticipated to people post lockdown. This, in turn, would grow the market of recumbent bike.
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Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Increasing health consciousness among the global population owing to hectic work schedules, sedentary lifestyles and altering food preferences, the demand for fitness products like recumbent bike is anticipated to proliferate. Additionally, recumbent bike cause lesser stress injuries than conventional bikes. Besides, recumbent bike offers better comfort as compared to conventional bikes. Moreover, due to lower center of gravity, the recumbent bikes are safer modes of transportation. However, recumbent bike being expensive than conventional bikes could restrain the market growth. Furthermore, rising adoption of recumbent bike amongst senior citizens is driving the market growth.
New product launch to bolster the market
The recumbent bikes have gained heavy growth in recent years owing to the health benefits. Besides, the rising fitness concerns have raised globally. Additionally, the deteriorating environment have fueled the need to increase the fitness level. Moreover, recumbent bikes provide exciting option of cycling to the people who have back pain issues. Due to the rising popularity of recumbent bikes in past few years, the manufacturers have accelerated the launch of newer products in market to provide consumers with variety of options. For instance, in 2017, TerraTrike unveiled a new model in its line of recumbent bikes. The newer recumbent bike is suitable to drive on all terrain.
Electric driven recumbent bikes to drive the growth
The rise of electrification in automotive landscape has increased and the popularity for it has also escalated. The electric driven recumbent bikes are driven with the help of electricity as an energy source. Moreover, the electrification of recumbent bikes removes the hassle to lubricate the chain and other mechanical parts. Besides, the amount of human power required to drive the recumbent bike is saved due to electric power source. Due to this, the manufacturers are increasingly producing electric driven recumbent bikes. For instance, in 2019, Cruzbike T50e front drive electric recumbent bike was launched with lithium-ion battery and claimed a range of 20 miles.
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Key benefits of the report:
• This study presents the analytical depiction of the recumbent bike 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 market share.
• The current recumbent bike market is quantitatively analyzed from 2020 to 2027 to highlight the growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed recumbent bike market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the recumbent bike market research report:
• Which are the leading market players active in the recumbent bike market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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