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Fitness Equipment Services Market Analysis

  • Report ID: GMI443
  • Published Date: Apr 2024
  • Report Format: PDF

Fitness Equipment Services Market Analysis

Based on services, the market is divided into routine maintenance, repair services, emergency services, part replacement & upgrades, inspection & safety checks. The routine maintenance segment accounted for a market share of over 35% in 2023. The adoption of a fitness equipment services market is propelled by routine maintenance. As fitness equipment becomes integral to daily workouts, regular upkeep is crucial for optimal performance and longevity.

Consumers and commercial establishments alike prioritize preventive maintenance to ensure safety and functionality. This creates a consistent demand for specialized services offering routine checks, repairs, and upgrades. The emphasis on maintenance not only enhances equipment durability but also contributes significantly to the overall reliability and satisfaction of fitness enthusiasts, fueling ongoing market demand.

Fitness Equipment Services Market Share, By Product Type, 2023

Based on product type, the fitness equipment services market is categorized into cardiovascular equipment, strength training equipment and others. The cardiovascular equipment segment accounted for a market share of over 58% in 2023. The demand for cardiovascular equipment in the fitness equipment services industry is driven by the increasing popularity of cardiovascular equipment.

As awareness of cardiovascular health grows, consumers seek state-of-the-art machines such as treadmills, elliptical trainers, and stationary bikes. The demand extends beyond initial purchases, requiring ongoing services for maintenance, repairs, and upgrades. Fitness enthusiasts prioritize the longevity and optimal functioning of their cardiovascular equipment, resulting in a consistent need for specialized services. This sustained demand underscores the integral role of cardiovascular equipment in shaping the dynamics of the market.

U.S. Fitness Equipment Services Market Size, 2022 -2032, (USD Million)

North America dominated the global fitness equipment services market with a major share of over 33% in 2023. North America fitness equipment services industry is flourishing due to several key factors. With a growing trend towards home gyms and commercial fitness centers, the region sees a continual need for fitness equipment services. Consumers seek maintenance, installation, and upgrades for their equipment, contributing to a dynamic market.

The diverse fitness culture in North America, in line with a preference for cutting-edge technology, sustains a strong demand for specialized services, highlighting the region's pivotal role in shaping the market.

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of fitness equipment services reached USD 3.1 billion in 2023 and is set to witness 3.5% CAGR from 2024 to 2032, owing to the rising popularity of at-home equipment services and growing trend toward home fitness worldwide.

The routine maintenance segment held over 35% share in 2023 and is expected to register an appreciable CAGR from 2024-2032, due to consumers and commercial establishments alike prioritizing preventive maintenance.

North America market recorded over 33% share in 2023 and is expected to register a commendable CAGR from 2024-2032, attributed to growing trend towards home gyms and commercial fitness centers, in the region.

Acumatica, FreshBooks, Intuit Inc., Microsoft Corporation, NetSuite (Oracle), Sage Group, SAP SE, Wave Financial Inc., Xero, and Zoho Corporation, are some of the major fitness equipment services companies worldwide.

Fitness Equipment Services Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 17
  • Tables & Figures: 340
  • Countries covered: 26
  • Pages: 220
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