by The global Rubber Dumbbells Market is estimated to be valued at US$ 199.6 Mn or 199.6 million 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 weights that are used for weight training exercises. They are made of rubber which provides a non-slip grip during exercises. Rubber dumbbells come with adjustable weight plates that allow users to increase or decrease the weight as per their fitness level and goals. They offer multiple benefits over other types of dumbbells such as compact design for home use, solid grips for precise movements, and noiseless operation. The rising demand for compact home gyms amid gym closures during the COVID-19 pandemic has been driving the growth of the global rubber dumbbells market.
Market key trends:
One of the key trends in the rubber dumbbells market is the growing popularity of adjustable dumbbells. Adjustable dumbbells allow users to increase or decrease the weight plates easily without buying separate dumbbells. This provides flexibility and saves storage space. Major players are focusing on launching adjustable dumbbells with wider weight ranges and improved weight changing mechanisms. Furthermore, growing health consciousness among people has resulted in increased adoption of smart digital rubber dumbbells that can record and track metrics such as sets, reps, and weights. Players are also offering app connectivity in smart rubber dumbbells to deliver customized home workouts and programs on mobile devices.
Porter’s Analysis
Threat of new entrants: Low barriers to entry into the rubber dumbbells market makes it easy for new players to enter. However, established players have strong brand recognition and supply chain which is difficult for new entrants to match.
Bargaining power of buyers: Buyers have high bargaining power due to availability of various substitute options. They can easily switch between rubber dumbbells and other fitness equipment based on price.
Bargaining power of suppliers: Few raw material suppliers and concentration of manufacturing centers increases suppliers’ bargaining power. This allows them to influence pricing in the market.
Threat of new substitutes: Substitution threat is high due to availability of alternative strength training equipment like barbells, kettlebells, etc. Customers can easily switch to other substitutes based on specific requirements.
Competitive rivalry: The global rubber dumbbells market is highly fragmented with the presence of several global and local players. Competition is intense regarding pricing and new product development.
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 health consciousness among consumers.
Regional analysis: North America dominates the global rubber dumbbells market currently followed by Europe. India and China are expected to be the fastest growing regional markets due to rising median income and growing penetration of gyms and health clubs.
Key players: Key players operating in the rubber dumbbells market are Gaiam, CAP Barbell, Marcy, PowerBlock, Bowflex, Bayou Fitness, Gold’s Gym, Valor Fitness, Body Solid, Universal, NordicTrack, Weider, runtfit, Titan Fitness, Yes4All, Ativafit, B luxury, Fitness Gear, XMark Fitness, Core Home Fitness. Gaiam and CAP Barbell have the largest market share currently.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
