The global elliptical market has been growing steadily over the past few years due to the increasing awareness of the health benefits associated with exercise. Elliptical machines provide a low-impact workout that can help users burn calories and improve their cardiovascular health. Additionally, elliptical machines are often seen as a more enjoyable alternative to traditional exercise equipment like treadmills and stationary bikes. According to a recent market research report, the global elliptical market was valued at USD 1.5 billion in 2020 and is expected to reach USD 2.3 billion by 2026, growing at a CAGR of 6.9% during the forecast period (2021-2026).
Elliptical machines, also known as cross-trainers, are stationary exercise machines that simulate walking, running, and climbing without causing excessive pressure on the joints. These machines have two foot pedals and handlebars that move back and forth in a smooth, elliptical motion. The user can adjust the resistance and incline to customize their workout.
Executive Summary
The report provides a comprehensive analysis of the global elliptical market, including market size, trends, drivers, restraints, opportunities, and challenges. The report also includes a detailed segmentation analysis, competitive landscape, and key industry developments. Additionally, the report analyzes the impact of the Covid-19 pandemic on the market and provides future outlooks and analyst suggestions for industry participants and stakeholders.
Important Note:ย The companies listed in the image above are for reference only. The final study will cover 18โ20 key players in this market, and the list can be adjusted based on our clientโs requirements.
Key Market Insights
- Increasing health awareness and the popularity of low-impact exercise are driving the growth of the global elliptical market.
- Technological advancements in elliptical machines, such as Bluetooth connectivity and interactive touchscreens, are attracting more consumers.
- The high cost of elliptical machines is a major restraint for the market. Additionally, the availability of cheaper alternatives like treadmills and stationary bikes could limit the growth of the market.
Market Drivers
- Increasing health awareness
The growing awareness of the health benefits associated with exercise is a key driver of the global elliptical market. Elliptical machines provide a low-impact workout that can help users burn calories and improve their cardiovascular health without putting excessive pressure on their joints. Additionally, elliptical machines are often seen as a more enjoyable alternative to traditional exercise equipment like treadmills and stationary bikes.
- Technological advancements
Technological advancements in elliptical machines are attracting more consumers. For instance, some machines now feature Bluetooth connectivity and interactive touchscreens that can help users track their progress and stay motivated.
Market Restraints
- High cost
The high cost of elliptical machines is a major restraint for the market. Elliptical machines can cost thousands of dollars, which may not be affordable for everyone. Additionally, the availability of cheaper alternatives like treadmills and stationary bikes could limit the growth of the market.
- Limited space
Elliptical machines are often large and require a significant amount of space. This can be a challenge for consumers who have limited space in their homes or apartments.
Market Opportunities
- Increasing demand for home fitness equipment
The Covid-19 pandemic has led to an increasing demand for home fitness equipment as more people are working and exercising from home. This trend is expected to continue in the post-pandemic era, creating opportunities for the elliptical market.
- Growing fitness industry in emerging economies
The growing fitness industry in emerging economies like India and China is expected to create opportunities for the elliptical market. As more people become aware of the health benefits of exercise, the demand for fitness equipment is likely to increase.
Market Dynamics
The global elliptical market is highly competitive and fragmented, with several players vying for market share. Some of the key players in the market include Nautilus, Inc., Icon Health & Fitness, Life Fitness, Johnson Health Tech Co. Ltd., and Technogym S.p.A. These companies are focusing on product innovation and expanding their distribution channels to gain a competitive edge.
Regional Analysis
The global elliptical market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America currently dominates the market due to the high prevalence of obesity and the increasing awareness of the health benefits of exercise. However, the Asia Pacific region is expected to grow at the highest CAGR during the forecast period due to the growing fitness industry in emerging economies like India and China.
Competitive Landscape
Leading Companies in the Elliptical Market:
- Precor Incorporated
- Nautilus, Inc.
- ICON Health & Fitness, Inc.
- Johnson Health Tech Co., Ltd.
- Technogym S.p.A.
- Life Fitness
- Cybex International
- Core Health & Fitness, LLC
- Sole Fitness
- Octane Fitness
Please note: This is a preliminary list; the final study will feature 18โ20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.
Segmentation
The global elliptical market is segmented on the basis of product type, end-user, and distribution channel.
By product type, the market is segmented into front-drive, rear-drive, and center-drive ellipticals.
By end-user, the market is segmented into residential and commercial. The residential segment currently dominates the market due to the increasing demand for home fitness equipment.
By distribution channel, the market is segmented into offline and online. The offline segment currently dominates the market due to the high preference for in-store shopping among consumers.
Category-wise Insights
The front-drive elliptical segment currently dominates the global elliptical market due to its compact size and affordability. However, the rear-drive and center-drive segments are expected to grow at a higher CAGR during the forecast period due to their superior performance and durability.
The residential segment currently dominates the global elliptical market due to the increasing demand for home fitness equipment. However, the commercial segment is expected to grow at a higher CAGR during the forecast period due to the growing demand for fitness equipment in gyms and fitness centers.
The offline distribution channel currently dominates the global elliptical market due to the high preference for in-store shopping among consumers. However, the online distribution channel is expected to grow at a higher CAGR during the forecast period due to the increasing popularity of e-commerce platforms.
Key Benefits for Industry Participants and Stakeholders
- Detailed analysis of the global elliptical market helps industry participants and stakeholders to identify growth opportunities and plan their strategies accordingly.
- The report provides a comprehensive understanding of the market dynamics and competitive landscape, enabling industry participants to make informed decisions.
- The report provides insights into the key trends, drivers, restraints, opportunities, and challenges in the global elliptical market, helping industry participants to stay ahead of the curve.
SWOT Analysis
Strengths:
- Increasing health awareness and the popularity of low-impact exercise are driving the growth of the global elliptical market.
- Technological advancements in elliptical machines, such as Bluetooth connectivity and interactive touchscreens, are attracting more consumers.
Weaknesses:
- The high cost of elliptical machines is a major restraint for the market.
- Elliptical machines are often large and require a significant amount of space, which can be a challenge for consumers who have limited space in their homes or apartments.
Opportunities:
- The increasing demand for home fitness equipment and the growing fitness industry in emerging economies like India and China are expected to create opportunities for the elliptical market.
- Technological advancements in elliptical machines are expected to attract more consumers and drive the growth of the market.
Threats:
- The availability of cheaper alternatives like treadmills and stationary bikes could limit the growth of the elliptical market.
- The Covid-19 pandemic has led to supply chain disruptions and reduced consumer spending, which could impact the growth of the market.
Market Key Trends
- Technological advancements
Technological advancements in elliptical machines, such as Bluetooth connectivity and interactive touchscreens, are expected to drive the growth of the market. These features can help users track their progress and stay motivated, making the workout more enjoyable.
- Growing demand for low-impact exercise
The growing awareness of the health benefits associated with exercise and the popularity of low-impact exercise are expected to drive the growth of the global elliptical market. Elliptical machines provide a low-impact workout that can help users burn calories and improve their cardiovascular health without putting excessive pressure on their joints.
Covid-19 Impact
The Covid-19 pandemic has had a significant impact on the global elliptical market. With more people working and exercising from home, the demand for home fitness equipment has increased. However, the pandemic has also led to supply chain disruptions and reduced consumer spending, which could impact the growth of the market.
Key Industry Developments
In March 2021, Nautilus, Inc. launched its Bowflex Max Trainer M9 machine, which features a 4.3-inch full-color screen, 20 resistance levels, and Bluetooth connectivity. The machine is designed to provide a high-intensity, low-impact workout that can help users burn more calories in less time.
In September 2020, Icon Health & Fitness launched its NordicTrack S22i Studio Cycle, which features a 22-inch HD touchscreen, automatic incline and decline, and Bluetooth connectivity. The machine is designed to provide an immersive cycling experience that can help users stay motivated and achieve their fitness goals.
Analyst Suggestions
Industry participants and stakeholders should focus on product innovation and expanding their distribution channels to gain a competitive edge in the global elliptical market. Additionally, strategic partnerships and acquisitions can help companies strengthen their market position and increase their market share.
Future Outlook
The global elliptical market is expected to grow at a steady pace during the forecast period (2021-2026) due to the increasing awareness of the health benefits associated with exercise and the growing demand for home fitness equipment. However, the high cost of elliptical machines and the availability of cheaper alternatives could limit the growth of the market.
Conclusion
The global elliptical market is expected to grow at a CAGR of 6.9% during the forecast period (2021-2026) due to the increasing awareness of the health benefits associated with exercise and the growing demand for home fitness equipment. Technological advancements in elliptical machines, such as Bluetooth connectivity and interactive touchscreens, are expected to drive the growth of the market.
However, the high cost of elliptical machines and the availability of cheaper alternatives could limit the growth of the market. Industry participants and stakeholders should focus on product innovation and expanding their distribution channels to gain a competitive edge in the market.