The indoor cycling bike market is estimated to witness exponential growth owing to the emerging trend of home-based exercises across the globe. The rising incidences of cardiovascular diseases worldwide are due to the lack of physical activity and changing lifestyles. Concurrently, the COVID-19 pandemic created awareness about health and fitness which may create tremendous growth prospects for the indoor cycling bike market during the forecast period of 2021-2031.
Home exercise equipment gained momentum during the pandemic due to restrictions imposed on movement and stay-at-home orders. The masses became more conscious regarding health during this period. Indoor cycling bikes are convenient as they can be used indoors and suffice the requirement of physical activity without stepping out. These aspects may act as growth accelerators for the growth of the indoor cycling bike market.
The indoor cycling bike market can be segmented into interactive bike, upright bike, recumbent bike, and dual action bike. By sales channel, the market can be classified into physical store and online.
The market survey conducted by the expert team of TMR on the indoor cycling bike market throws light on various growth parameters of the market. The deep insights provided by the analysts are based on the factors such as competitive landscape, key drivers and opportunities, restraints, and regional insights. This all-important information helps the stakeholders and CXOs to make proper investments and frame strategies according to the requirements. The impact of the COVID-19 pandemic is also included in the report.
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The rise in awareness regarding fitness has opened new growth avenues for the indoor cycling bike market. The sales of home equipment have increased substantially owing to the rising demand for home fitness products. The recumbent bikes are preferred largely by the reason of their easy availability, cost-effectiveness, and less strain on the spine and lower portion of the body. The sedentary work culture has led to many ailments such as obesity and cardiovascular disorders. Thus, by cause of controlling weight and preventing such disorders, the indoor cycling bike market has gained momentum. Consequently, the rise in disposable income of individuals in developing countries has given rise to an increase in spending on fitness equipment which may act as a growth propeller for the indoor cycling bike market. In addition, the surge in sedentary work life is likely to create immense growth opportunities for the indoor cycling bike market.
The leading players operating in the indoor cycling bike market are focusing on rigorous research and development activities to formulate new designs which would benefit the users in various dimensions. The technological advancements in the fitness industry have amplified the growth prospects for the indoor cycling bike market. Social media serves as the major influencer in product promotions by virtue of the large audience targeted by the companies. Subsequently, the key manufacturers are expediting their production capacities to meet the growing demand for indoor cycling bikes.
Some of the major players operating in the market are Race Fitness Ltd., Kenny-Joyce Co., Ltd, BH Spinning, ForevefiFitness, Spinning, Forevefit, and Keiser.
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North America is expected to generate significant revenue on the grounds of increasing sales of indoor cycling bikes in this region. Asia Pacific may also showcase heightened growth as a result of health and fitness consciousness among the masses in this region. Furthermore, the increase in production capabilities may act as a growth booster for the global indoor cycling bike market.
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