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Functional Fitness Equipment Market Size, Industry Analysis Report By Type (Medballs, Bars, Plates, Flat Bench, Squat Rack, Rowing Machine, Kettle-Bells And Dumbbells), By Application (Health Clubs, Home/Individual, Hotels, Hospitals, Corporate Offices)) & Region – Forecast

  • PUBLISHED ON
  • 2024-10-03
  • NO OF PAGES
  • CATEGORY
  • Machinery & Heavy Industry
Global Functional Fitness Equipment Market- Overview
It is estimated for the global functional fitness market to witness growth at a CAGR of 6.1% during the forecast period of 2022 to 2030. The market witnessed growth at a CAGR of 4.8% during the previous forecast period of 2018 to 2021. Functional training equipment usually refers to types of equipment, which allow your body to move in a manner similar to how it would in everyday life situations. Equipment such as cable machines, stability balls, plyometric steps and rubber tubing are just a few of the more notable pieces of functional equipment.

Global Functional Fitness Equipment Market- Growth Factors
Growth in the fitness events all across the globe is the major factor that is driving the growth of the market during the forecast period. The increasing popularity of the sports like cricket, soccer, hockey and so on are building immense passion among the players to remain fit and thus these sports are driving the players to take up fitness as a activity and this factor is boosting the growth of the market during the forecast period. The urge among the people to remain fit is also a factor for them to opt for sporting activities and purchasing of sportswear and this factor is estimated to foster the growth of the market during the forecast period. The increasing awareness of the health benefits associated with remaining fit is also estimated to the adoption of fitness activities at school and college levels and this factor is estimated to drive the growth of the market during the forecast period.

Global Functional Fitness Equipment Market- Market Trends
• Growth in the fitness events all across the globe is the major factor that is driving the growth of the market during the forecast period.
• The increasing popularity of the sports like cricket, soccer, hockey and so on are building immense passion among the players to remain fit and thus these sports are driving the players to take up fitness as a activity and this factor is boosting the growth of the market during the forecast period.
• The increasing awareness of the health benefits associated with remaining fit is also estimated to the adoption of fitness activities at school and college levels and this factor is estimated to drive the growth of the market during the forecast period.

Global Functional Fitness Equipment Market – Segmentation
The global functional fitness equipment market is segmented based on product type and application type.

Based on product type, the market is segmented into,
• Medballs
• Bars and Plates
• Flat Bench
• Squat Rack
• Rowing Machine
• Kettle-bells and Dumbbells
• Accessories

Based on application, the market is segmented into,
• Health Clubs
• Home/Individual
• Hotels
• Hospitals
• Corporate Offices
• Others

Global Functional Fitness Equipment Market – Regional Analysis
It is estimated for the region of US to drive the growth of the market during the forecast period. The growing in the technological advancements in the food sector in the region is estimated to foster the growth of the market during the forecast period. The region of Europe is estimated to witness growth at a healthy rate during the forecast period. The Asia Pacific region is also estimated to witness a notable growth rate in the market

Global Functional Fitness Equipment Market – Key Market players
XFit Brands, Brunswick, Total Gym Global, Escape Fitness, Hampton Fitness, Torque Fitness, Johnson Health Tech, Technogym, Precor, and Concept2 are some of the market players that are driving the growth of the market during the forecast period.

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

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