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The global home exercise market has been growing due to rising health awareness among consumers, and the growing adoption of exercises related to physical well-being, weight management, and an increase in the obese population. Consumers can engage in regular workouts to stay fit with the rising preventive healthcare measures and rising healthcare costs. To gain a competitive advantage in the market, manufacturers operating in the global market are expanding their presence. Most of the geriatrics population in both developed and developing countries use specialised workout equipment to improve their cardiovascular health which is further propelling the growth of the market. The COVID-19 pandemic has had a major impact on the global home fitness market. Due to the continuation of quarantines and social distancing norms, gyms remained closed, boosting the culture of home workouts and, as a result, increasing demand for home exercise bikes. Precautionary healthcare, coupled with increasing preference for customised workout regimes and a comfortable home-friendly environment, is increasing the demand for home exercise bike.
With the development of several marketing strategies that heavily rely on product innovations, expansions, and partnerships with different companies to expand product portfolios, the market is expected to grow significantly over the forecast period. Nautilus Inc. (NYSE: NLS) launched the first-ever Bowflex indoor cycling bike in October 2019, offering connected fitness experiences for less than half the price of a Peloton® bike. Product launches along with attractive offers is likely to continue aiding the market growth in the coming years.
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The major players in the home exercise bike market include Body Solid, Inc., Ciclotte, Paradigm Health & Wellness, Inc., and TECHNOGYM S.p.A, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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