Home Exercise Bikes Market Sales to Reach $2,335.2 million with likely to Grow at CAGR of 8.7% between 2021 to 2027

According to a new report published by Allied Market Research, titled, "Home Exercise Bike Market by Type, and Sales Channel: Opportunity Analysis and Industry Forecast, 2021-2027," The global home exercise bike market size was valued at $1,213.5 million in 2019, and is projected to reach $2,335.2 million by 2027, registering a CAGR of 8.7% from 2021 to 2027. The recumbent segment is expected to retain its dominant position, in terms of revenue generation, throughout the forecast period. North America held a leading position in the global market in 2019, and is expected to maintain its dominance in the future.

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The growth of the home exercise bike market can be attributed to growing population all around the world. Increase in health awareness and rise in need for active, healthy lifestyle across the world are the key drivers of the fitness equipment market. Sedentary lifestyle and changes in eating habits have led to increased health risks. Therefore, increase in awareness toward regular physical activities to maintain healthy lifestyle has boosted the growth of the fitness equipment market, in-house equipment in particular. In addition, majority of the geriatric population in developed and developing countries use unique fitness equipment to improve their cardiovascular conditions. This trend is significantly driving the market for fitness equipment. However, high cost and availability of counterfeit exercise equipment act as the major restraint for the global market. On the contrary, rising disposable income of people and growing concerns about body image among people is expected to provide opportunities for the global home exercise bike market growth.

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The Home Exercise Bike market is segmented into type, sales channel and region. Based on type, the recumbent bike segment dominated the market with largest market share in 2019, holding for around two-fifths of the global market, and is expected to maintain its lead position throughout the forecast period. Furthermore, this segment is anticipated to register at the fastest CAGR of 9.2% from 2020 to 2027.

Based on sales channel, the physical store segment held the highest market share in 2019, with more than two-thirds of the global market, and is estimated to lead the trail by 2027. On the other hand, the online segment is anticipated to showcase at the largest CAGR of 9.2% during the forecast period.

Based on region, the market is studied across regions including Asia-Pacific, Europe, LAMEA< and North America. The North America region accounted for the highest share in terms of revenue with nearly two-fifths of the total share in 2019, and will rule the roost during the forecast period. At the same time, the market across Asia-Pacific is estimated to portray the highest CAGR of 10.9% from 2020 to 2027.

Leading market players profiled in the report include Brunswick, Technogym, Precor Incorporated, ICON Health & Fitness, Bladez Fitness, ICON Health & Fitness, Asian Sports & Enterprises, Body-Solid, and Ciclotte, Johnson Health Tech.

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Related Report :
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Gym Accessories Market : https://www.alliedmarketresearch.com/gym-accessories-market-A16938

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Connected Gym Equipment Market : https://www.alliedmarketresearch.com/connected-gym-equipment-market

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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