Indoor Cycles Market Size, Share, Growth, And Industry Analysis By Type (Recumbent Bikes, Upright Bikes, And Indoor Cycles) By Application (Gym, School, Community, Sports Center, And Home Use) Regional Forecast To 2032

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Indoor Cycles Market Report Overview

The global indoor cycles market size was USD 0.712 billion 2022 & the market is expected to reach USD 1.23 billion in 2032, exhibiting a CAGR of 5.6% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with indoor cycles market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

Indoor cycles, commonly referred to as exercise bicycles or stationary cycles, are essentially exercise equipment that resembles bicycles. It includes practically all the same parts as a typical bicycle, including a handlebar, seat, foot straps, and pedals. Individuals with knee or lower back pain can use indoor cycles to relieve discomfort. The indoor cycle is advantageous for everyone concerned with their general well-being since it helps you lose extra weight and manage your blood pressure, diabetes, and other health conditions as well as your blood pressure and other blood pressure-related conditions.

The development of the indoor cycle market is largely attributed to the rising number of gyms and exercise facilities worldwide. Many are choosing to exercise more and visit gyms to break their sedentary lifestyles as a result of how people's changing lifestyles nowadays contribute to unhealthy habits that have a direct negative impact on health. The market is also being driven forward to success by the new features and innovations introduced. Sales on the market will increase significantly throughout the forecast.

Covid-19 Impact: Halt In Manufacturing Industries Impedes Product Demand

Strict lockdown regulations were implemented in every nation due to the COVID-19 outbreak. Lockdown forced the temporary closure of public spaces, which affected the market for indoor cycles. As gyms and other health facilities closed during the epidemic, there was a decline in the demand for indoor cycles. As industries were required to shut down by the lockdown regulations, production of the same was also suspended. Due to the pandemic's disruption of the worldwide supply chain, market growth was considerably delayed. After COVID-19, the indoor cycles market growth is anticipated to expand at an exponential rate as more individuals have begun to prioritize their physical fitness since the lockdown.

Latest Trends

"Addition Of Fitness Trackers Aid Market Development"

The indoor cycle market is growing due to innovation and the inclusion of cutting-edge technologies in the cycles. A caloric counter, a speed controller, a timer, a heartbeat monitor, workout programs, and resistance levels are features found on more recent indoor cycles. These indoor cycles also have the added benefit of allowing customers to stream workout videos or listen to music while exercising via the attached monitor on the bike, which is connected to the internet. It is anticipated that the market will expand due to these additions.

Indoor Cycles Market Segmentation

• By Type Analysis

The market can be divided into recumbent bikes, upright bikes, and indoor cycles based on type. During the forecast period, the segment of recumbent bikes is anticipated to dominate the market by type.

• By Application Analysis

The market can be classified into gym, school, community, sports center, and home use based on application. During 2022-2031, the gym segment is predicted to be the market leader by application.

Driving Factors

"Sedentary Lifestyle Drives Product Demand Across All Platforms"

People were instructed to stay indoors due to the pandemic, which negatively affected their way of life. A majority of individuals suffer from sedentary lifestyles and harmful behaviors due to spending a lot of time indoors, even though many have maintained their physical fitness. In addition to encouraging individuals to choose poor lifestyle choices, this has raised the risk of cardiovascular disease and other chronic illnesses, including joint discomfort. Since more are signing up for gyms and becoming more mindful of health dangers, demand for indoor bikes is surging. Some individuals have indoor cycles installed in their homes to maintain their health.

"Growing Youth Population Facilitate Market Expansion"

Young consumers today are more concerned with their health than previous generations. Young individuals tend to be more inclined towards exercise and make up most of those who frequent various health facilities, fitness clubs, and gyms since they are nimbler and more enthusiastic about their health choices. Early life exercise adoption aids in the prevention of heart, diabetes, and hypertension-related disorders. The market for indoor-cycles is anticipated to grow significantly due to the addition of sophisticated features.

Restraining Factors

"High Cost Of Cycles Hinders Market Growth"

The market for indoor cycles has a solid foundation, since they are expensive, expansion may be constrained. Due to the high cost of indoor cycles and the availability of fake indoor cycles will slow the business’s long-term growth. The cost of these cycles is the main factor that will restrain the market's expansion for indoor cycles.

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Indoor Cycles Market Regional Insights

"North America To Dominate Market Due To Growing Obesity Among Population"

North America dominates the indoor cycle market with the largest market share compared to other areas. The rising prevalence of obesity and other related disorders in the North American population is blamed for the region's market expansion. The COVID-19 shutdown may be to blame for the region's adoption of an unhealthy lifestyle. The demand for fitness equipment such as indoor cycles and treadmills rises as more individuals are urged to adopt healthy lifestyles. During the projection period, it is anticipated that the indoor cycles market will continue to expand in the North American region.

Asia Pacific has the largest indoor cycles market share after North America. The market for indoor cycles is expanding in the Asia Pacific region due to growing public awareness of health and wellness issues and an increase in the number of gym chains operating there. Consumers in the Asia Pacific region are becoming more concerned with their fitness, contributing to the growth of fitness and health facilities there. Due to a growing population of health enthusiasts, the Asia Pacific region is anticipated to grow quickly during the forecast period.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP INDOOR CYCLES COMPANIES

• Precor (U.S.)
• Life Fitness (U.S.)
• Waters Fitness (U.S.)
• Keiser (U.S.)
• Nautilus Inc. (U.S.)
• Sunny (U.S.)
• Diamondback Fitness (U.S.)
• Technogym (Italy)
• Cybex International (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors such as segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.