The global functional fitness equipment market is expected to surpass an impressive valuation of US$ 14.8 Billion in 2023 and is projected to exhibit a compound annual growth rate (CAGR) of 5.8% from 2023 to 2033. Functional fitness equipment is a device that permits the body to move in a similar way to how it would move in daily situations.
This allows for complete body movement in all angles and imitates movements performed at tasks, in sports, and in everyday life. These deliver a more dynamic, adaptable atmosphere as well as a wide range of exercise habits. The utilization of numerous muscle fibers in more than one plane of motion on operational fitness equipment results in greater intensity carryover and neuromuscular adaptation.
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Competitive landscape:
Key players in the Functional Fitness Equipment market are XFit Brands, Brunswick, Total Gym Global, Escape Fitness, Hampton Fitness, Torque Fitness, Johnson Health Tech, Technogym, Precor, and Concept2. Some of the latest developments by key players are below
- In April 2022, Core Health and Fitness announced the acquisition of Wexer Holding LLC in order to accelerate digital adoption and enhance the digital fitness industry.
- Johnson Health Tech announced its acquisition of Cravatex Brands Limited’s fitness division in June 2022, making it the first fitness equipment corporation to have an entire subsidiary in India.
- Nautilus, Inc., a home fitness improvement leader, declared the launch of the Bowflex BXT8J treadmill with JRNY adaptive fitness app compatibility in September 2022 at select online and in-store retail partners, offering users a complete fitness solution at an economical price point.
Major Functional Fitness Equipment Providers:
- Brunswick Corporation
- Escape Fitness Ltd.
- Precor Inc.
- Technogym S.p.A
- Torque Fitness LLC
- Concept2 Inc.
- Johnson Health Tech Co. Ltd.
- Total Gym Global Corp.
- Hampton Fitness Inc.
- XFit Brands Inc.
Functional Fitness Equipment Market: Health Club Industry’s Focus on Creating Functional Training Spaces to Fuel Growth:
A paradigm shift is being witnessed currently in the functional fitness equipment market, as the big box health clubs and low-cost, high-volume chains are clearing out large footprint, traditional machines. Albeit investments remain a concern, benefits of functional fitness equipment outweigh cost of “out-with-the-old-in-with-the-new” concept, while the health club industry shifts its focus toward creating “functional training spaces.” This will significantly spur growth of the functional fitness equipment market in the near future.
Albeit considered as a trend currently, functional training will continue to prevail, encompassing a wide array of strength and movement training. Prospects of the functional fitness equipment market continue to be bullish, as functional fitness programming evolves in tandem with demands of enthusiasts and requirement for providing dynamic fitness equipment.
Kettlebells & dumbbells and rowing machines are being considered as staples for the functional training activities. The functional fitness equipment market is likely to witness traditional designs of sledgehammers, weighted bags, and battle ropes being updated with must-have features apropos of health club functional fitness training zones.
Key Segments Profiled in the Functional Fitness Equipment Market Industry Survey:
- By Product Type:
- Medballs
- Bars and Plates
- Flat Bench
- Squat Rack
- Rowing Machine
- Kettle-bells and Dumbbells
- Accessories
- By Application:
- Health Clubs
- Home/Individual
- Hotels
- Hospitals
- Corporate Offices
- Others
- By Region:
- North America
- Europe
- Japan
- APEJ
- Latin America
- Middle East and Africa
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Questionnaire answered in the Market outlook Report of Functional Fitness Equipment include:
- What is the key strategy deployed by large players to maximize Functional Fitness Equipment Market growth?
- What are the main challenges faced by players in the Functional Fitness Equipment market Demand?
- With the advent of technological advancement, how will the Functional Fitness Equipment market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Functional Fitness Equipment market size?
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