Functional Fitness Equipment Market By Type (Medballs, Bars and Plates, Flat Bench, Squat Rack, Rowing Machine, Kettlebells and Dumbbells, Others), By Application (Health Clubs, Home, Hotels, Hospitals, Corporate Offices, Others): Global Opportunity Analy

Functional Fitness Equipment Market By Type (Medballs, Bars and Plates, Flat Bench, Squat Rack, Rowing Machine, Kettlebells and Dumbbells, Others), By Application (Health Clubs, Home, Hotels, Hospitals, Corporate Offices, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

The global functional fitness equipment market is envisioned to garner $2,73,315.2 million by 2031, growing from $6,325.0 million in 2021 at a CAGR of 47.7% from 2022 to 2031.

The global functional fitness equipment market is predicted to expand during the forecast period. The market is being driven by a rise in awareness of a healthy lifestyle and an improvement in health fitness. Additionally, the rising prevalence of obesity and cardiovascular disease among various individuals is predicted to drive a significant demand increase for the worldwide functional fitness equipment market. Furthermore, several non-profit organizations and corporate organizations are focusing on health concerns and raising awareness through functional training of individuals. The industry is expected to rise as individuals become more aware of the benefits of maintaining a healthy lifestyle.

The usage of functional fitness equipment at home is predicted to expand among the population over the next few years, owing to the increasing impact of COVID-19. Market closings, increasing awareness about self-care products, and growing fitness trends among the public have propelled the at-home fitness equipment in the year 2020. Additionally, sedentary lifestyles and demanding schedules have led to the introduction of in-home workout equipment. The cost of a functional fitness equipment membership is reduced by using fitness equipment at home to exercise. However, space limitations and the high cost of equipment restrain the market expansion.

The increasing development of functional fitness equipment such as smart treadmills intended to assist monitor heart rate and comes in a small foldable shape for ease of mobility is functioning as a market potential opportunity. For instance, the Peloton Tread treadmill can monitor the heart rate, exercise duration, distance travelled, and calories burned. Life and fitness demand classes are also included with this programme. The production of smart dumbbells, which have sensors built in to track arm movement and can connect with other smart electronic devices, is also anticipated to increase demand. For instance, the Bowflex SmartTech 560 dumbbell features sensors that can recognize arm movement and the capacity to connect through Bluetooth to smart devices.

The COVID-19 pandemic has had a slightly favorable effect on the market for workout equipment. To stop the spread of the virus, the pandemic has enforced new rules and conventions, such as lockdowns and restrictions on social interactions. People had to stay at home as a result, and new trends like working from home emerged as a result. The need for fitness equipment during the pandemic has increased as home workouts have become increasingly popular. Fitness applications and platforms have gained a lot of interest since the pandemic because of the increasing emphasis on self-care, exercise, and wellness. To recover from COVID-19, manufacturers are taking several strategic actions. Additionally, economic slowdown has affected the setup of new functional fitness projects across the world as majority of government fundings were diverted toward healthcare sector owing to rapid spread of the COVID-19 virus, impacting the market to a great extent.

The key players profiled in this report include Concept2, Precor SA, Technogym, Johnson Health Tech, Torque Fitness, Hampton Fitness, Escape Fitness, Total Gym Global, Brunswick Corporation, and XFit Brands.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the functional fitness equipment market analysis from 2021 to 2031 to identify the prevailing functional fitness equipment market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the functional fitness equipment market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global functional fitness equipment market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

Others
Medballs
Bars and Plates
Flat Bench
Squat Rack
Rowing Machine
Kettlebells and Dumbbells

By Application

Health Clubs
Home
Hotels
Hospitals
Corporate Offices
Others

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
United Arab Emirates
South Africa
Rest of LAMEA
Key Market Players
XFit Brands
concept2, inc.
precor sa
Technogym
Johnson Health Tech
torque fitness
Hampton Fitness
escape fitness
Total Gym Global
brunswick

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