The rubber dumbbells market is estimated to be valued at US$ 199.6 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Rubber dumbbells are weight training equipment made of dense rubber material to provide resistance during workouts. They offer a quiet and low-impact workout experience compared to metal dumbbells as they do not make any noise on hitting the floor. Their soft rubber material also eliminates the risk of injury. These benefits have increased their popularity, especially among home gyms and elderly population.
Market key trends:
One of the key trends fueling the growth of rubber dumbbells market is the rising health awareness. With growing focus on physical fitness and increasing obesity rates, people are participating in various weight training activities. Rubber dumbbells provide an affordable and convenient option for home workouts. They allow performing a variety of exercises for different muscle groups. Furthermore, the aging population prefer rubber dumbbells over other equipment as these cause minimal joint strain. The increasing popularity of home gyms and multi-functional home fitness equipment is another major trend contributing to the market growth.
Porter’s Analysis
Threat of new entrants: The rubber dumbbells market requires high investments in manufacturing facilities and distribution networks. Thus threat is low.
Bargaining power of buyers: Buyers have multiple options to choose from in terms of brand, weight and price. Thus their bargaining power is high.
Bargaining power of suppliers: The suppliers of raw materials like rubber have established presence. Their bargaining power is moderate.
Threat of new substitutes: Other fitness equipment like kettlebells pose threat but rubber dumbbells are cheap and versatile. Threat is moderate.
Competitive rivalry: The market is mature with established brands. Rivalry is intense.
SWOT Analysis
Strength: Rubber dumbbells are affordable, portable and offer low-impact workout. They target both professional gyms and home users.
Weakness: Rubber dumbbells have limited weight options as compared to iron dumbbells. They cannot be adjusted as per changing workout needs.
Opportunity: Growing health and fitness trends along with need for home gyms during pandemic has increased demand. Online retail channels provide new opportunities.
Threats: Fake low-quality products eating into brands sales. Economic slowdowns can impact discretionary spending on fitness equipment.
Key Takeaways
The global Rubber Dumbbells Market Growth is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing focus on home-based workouts and need for compact equipment .
Regionally, North America currently dominates the rubber dumbbells market due to rising health awareness. However, Asia Pacific is expected to grow at fastest pace due to growing economy, rapid urbanization and increasing focus of youth on fitness.
Key players operating in the rubber dumbbells market include Gaiam, CAP Barbell, Marcy, PowerBlock, Bowflex, among others. These manufacturers offer diverse product range at varying price points to target both commercial and household segments. They are investing in brand visibility through online and retail partnerships.
Read More,
https://www.newsstatix.com/rubber-dumbbells-market-trends-size-and-share-analysis/
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