MARKET OVERVIEW- GLOBAL STATIONARY CYCLES MARKET
A stationary bicycle is also known as an exercise bicycle, a spinning bike, or an exercycle. It is used as an exercise equipment for indoor cycling. It consists of a saddle, pedals, and some form of handlebars arranged as on a (stationary) bicycle. It has been used for a long time for physical therapy because of the low-impact, safe, and effective cardiovascular exercise provided by the cycle. The stationary bicycle is a safe option, especially for medically unfit people. The growth of the global Stationary Cycles market is driven by an increase in health awareness and fitness concerns among the general population. Also, an increase in number of health initiatives along with technological advancements is anticipated to provide an ample opportunity for the market players during the forecast period.
MARKET DRIVERS
The growth of the global Stationary Cycles market is primarily driven by the rise in obesity and an increase in the incidence of chronic diseases such as cardiovascular disease, diabetes, hypothyroidism etc. According to the WHO, in 2016, more than 1.9 billion adults aged 18 and older were overweight. Of those over 650 million adults were obese. In 2016, 39% of adults aged 18 years and over (39% of men and 40% of women) were overweight. Overall, about 13% of the world’s adult population (11% of men and 15% of women) were obese in 2016. The worldwide prevalence of obesity nearly tripled between 1975 and 2016. The prevalence of overweight and obesity among children and adolescents aged 5-19 has risen dramatically from just 4% in 1975 to just over 18% in 2016. The rise has occurred similarly among both boys and girls: in 2016 18% of girls and 19% of boys were overweight. While just under 1% of children and adolescents aged 5-19 were obese in 1975, more than 124 million children and adolescents (6% of girls and 8% of boys) were obese in 2016. As a number of chronic diseases such as cardiovascular disease, diabetes, etc. are caused due to the existence of obesity, this has led to a significant rise in health awareness among the people. These factors are anticipated to drive the market growth over the estimated time period.
MARKET OPPORTUNITIES
The market is expected to have new opportunities with the technological advancements involved in the development of quality fitness options for the people. This is expected to provide an ample number of new growths opportunities in the market during the forecast period. Additionally, an increase in the number of health initiatives and technological advancements made to increase the functioning of stationary cycles are anticipated to provide an ample opportunity for the market players during the forecast period.
MARKET RESTRAINTS
Nowadays, several types of fitness equipment are available in the market. This enables consumers to choose from a variety of options according to their needs and preferences. This is expected to act as a hurdle for the market’s growth over the forecast period.
MARKET GROWTH CHALLENGES
A key challenge which may affect the growth of the market is the availability of second-hand equipment in the market. Furthermore, the lack of R&D initiatives in under-developed nations is expected to pose key challenges for the market’s growth over the forecast period.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of the global Stationary Cycles market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for different stationary cycles in various applications has led to the increasing demand for the market and is expected to witness growth at a specific CAGR from 2021-2028.
STATIONARY CYCLES MARKET SEGMENTAL OVERVIEW
The global Stationary Cycles market comprises of different market segments like product, pricing of equipment, end-user and geography.
STATIONARY CYCLES MARKET BY PRODUCT
By, the Stationary Cycles includes key segments of
- Upright Exercise Bike
- Recumbent Exercise Bike
- Others (Dual Action Stationary Bike, Indoor Bike, etc.)
Recumbent exercise bike segment is expected to hold an important share in the market the market over the forecast period. In the case of this bicycle, a person is able to sit in a comfortable reclined position on a larger seat that’s positioned back from the pedals. It is able to offer more comfort and safety than upright exercise bikes because they have a reclined seat that is inclined backward with the back supported by its backrest. This reduces strain on the lower body while riding in this position.
The upright exercise bike segment is expected to witness significant growth over the forecast period. It is similar to a regular bicycle, with the pedals positioned under the body. The upright bike provides a cardio workout while also strengthening your leg and core muscles. Depending on the preference, this bike can be used in both standing and sitting positions. Upright stationary bikes help users to maintain good posture while cycling, ensuring the back is straight and not hunched.
STATIONARY CYCLES MARKET BY PRICING OF EQUIPMENT
According to the pricing of equipment, The Stationary Cycles market includes segments such as:
- Premium Equipment
- Budget Equipment
The budget equipment segment is expected to dominate the market over the forecast period. Budget equipment is preferred by middle and lower-income people across the world. It helps to maintain a good fitness level at an affordable price. Therefore, the budget equipment segment is projected to grow at the highest rate over the forecast period.
The premium equipment segment is expected to witness significant growth over the forecast period as the equipment offers advanced options and new features that can be helpful for improving health and fitness. This equipment is preferred by people with high incomes, who prefer to spend a higher amount on fitness devices and equipment.
STATIONARY CYCLES MARKET BY END-USER
The Stationary Cycles market includes major end-users like
- Households
- Gyms/Health Clubs
- Medical Centers
- Sports Association
- Others (Hotels, Hospitals, Restaurants, Corporates, Etc.)
The household segment is expected to hold an important share in the market over the forecast period. Stationary cycles can be used while watching TV at home to reduce weight. It can be used in home settings in the case of medical conditions that require high-intensity workouts with low impact on bones and tissues. Upright stationary bikes are mostly preferred in household setting, as they increase calorie burn percentage without putting too much stress on joints or back muscles.
The gyms/health clubs segment is predicted to witness a promising growth over the forecast period as stationary bicycles are commonly used in gyms for fitness workout regimen. The growing demand for lightweight, easy stationary bicycles in gyms and health clubs is expected to boost the growth of the segment.
STATIONARY CYCLES MARKET BY GEOGRAPHY
The global Stationary Cycles market is studied for the following regions
- North America
- Europe
- Asia-Pacific
- Rest of the world (RoW)
The North American region is projected to hold lion’s share in the market during the forecast period. The growth of the market in North America can be attributed to the increasing prevalence of obesity and cardiovascular diseases in the region. According to the American Diabetes Association, in 2018, around 34.2 million individuals in the U.S. (addressing 10.5% of the total U.S. populace) experienced diabetes. This has stimulated greater awareness regarding health and fitness in the region. This is a key factor driving the market for stationary cycles in North America.
The Asia-Pacific region is expected to witness the fastest growth over the projected time period. .The Asia-Pacific consists of major countries like China, India, Japan, South Korea, etc. The increase in the geriatric population and a tremendous increase in emphasis regarding fitness are expected to fuel the growth of the market in this region.
COVID-19 IMPACT ANALYSIS ON STATIONARY CYCLES MARKET
Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global Stationary Cycles market. In addition, a complete analysis of changes in the global Post Harvest Quality Control Software market expenditure, economic and international policies on supply and demand is provided in this exclusive report. The report also studies the impact of the pandemic on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. The global COVID-19 pandemic has impacted most sectors around the world. The major issues that have emerged due to the pandemic include challenges in the supply of essential materials, which have arisen due to the shutdown of various plants and factories. It has severely affected the global supply chains and also impacted the manufacturing process. It also negatively affected the sales of products in the market. But on the other side, during COVID-19, the emphasis on health and fitness has increased significantly. Therefore, more people purchased stationary cycles for household use.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of Stationary Cycles market is majorly focused on expanding the global growth of the stationary cycle industry with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in the stationary cycle sector has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfil the required demand of consumer which is further contributing to healthy growth in the market.
The key players studied in market are
- Nautilus, Inc.
- iFIT Health & Fitness
- Technogym
- Precor Incorporated
- Lifefitness
- Horizon Fitness
- SHUA
- Body-Solid, Inc.
- Kettler
- Sunny health and fitness
- Ciclotte
RECENT DEVELOPMENT:
November 2021: Nautilus, Inc. has introduced the new connected Bowflex Max Total16 cardio machine. It offers a 16" HD touch screen and integration with the JRNY digital fitness platform, so users stay engaged and motivated during high calorie burn interval workouts.
January 2021: Rain the Growth Agency has partnered with home fitness equipment company Horizon Fitness, to expand its presence in the industry. Horizon Fitness is a provider of cardio fitness solutions and sold through online platform and retail partners including Dick's Sporting Goods and Johnson Fitness & Wellness stores.
