Predicts Market Size Growth for Functional Fitness Equipment

The global functional fitness equipment market is set to experience significant growth in the coming years, with a projected CAGR of 8.5% during the forecast period from 2024 to 2031. This growth is being driven by a variety of factors, including the increasing awareness of fitness and wellness, as well as government initiatives to promote health and fitness.

One key development in this market is the passing of Bill C-2 in late 2021, which offers benefits and programs to support workers and businesses in the face of challenges posed by new variants. Industry leaders are hopeful that this law will help spark a 7% growth in the industry this year.

Additionally, major players in the market are actively engaging in partnerships, collaborations, and expanding their product portfolios. For example, Nautilus, Inc. recently announced the launch of the Bowflex BXT8J treadmill with JRNY adaptive fitness app compatibility, providing customers with a comprehensive fitness solution at an affordable price point. Similarly, Matrix partnered with iFIT to integrate digital technology into their products.

The functional fitness equipment market covers a range of segments, including deployment type, organization size, and region. Key regions covered include North America, Europe, Asia-Pacific, and the rest of the world. Major players in the market include Brunswick Corp., Johnson Health Tech. Co., Ltd., and ACE Controls Inc., among others.

Overall, the functional fitness equipment market is poised for significant growth in the coming years, driven by increasing awareness of fitness and wellness, government support, and strategic partnerships among key market players.