by Rubber dumbbells are hand-held weights that are commonly used in strength training and weightlifting exercises. They allow users to perform a variety of exercises for building muscle and improving overall fitness. The growing awareness about health and fitness has increased the demand for similar exercise equipment used in home workouts and gym routines.
The global Rubber Dumbbells Market is estimated to be valued at US$ 229.94 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing trend of home gym workouts has propelled the demand for rubber dumbbells in the market. With the outbreak of Covid-19 pandemic, health clubs and gyms were temporarily shut down to maintain social distancing norms. This led more individuals to set up small home gyms for their daily exercises. Rubber dumbbells are preferred for home workouts due to their compact size and portability. The availability of training tutorials and exercise videos online has made it easier for users to perform full body workouts using dumbbells effectively from homes. This key trend has significantly contributed to the rising sales of rubber dumbbells globally over the recent past.
SWOT Analysis
Strength: Rubber dumbbells are safer to use as compared to metal or vinyl dumbbells since they have non-slip texture and cause no noise. They provide muscular strength and endurance training without causing any injuries.
Weakness: Rubber dumbbells have limited weight options as compared to other types of dumbbells. They also take more space for storage than fixed or adjustable dumbbells.
Opportunity: Growing fitness consciousness and commercial health clubs expanding in urban regions offer opportunities for rubber dumbbell manufacturers. Increasing spending on home fitness equipment also presents growth prospects.
Threats: Threat of substitution from newer types of adjustable or fixed dumbbells that offer wider weight ranges in compact designs. Intense competition from local and established dumbbell brands.
Key Takeaways
The Global Rubber Dumbbells Market Size is expected to witness high growth. The global Rubber Dumbbells Market is estimated to be valued at US$ 229.94 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031.
Regional analysis comprises Asia Pacific dominates the market and is expected to continue its dominance over the forecast period. Factors such as growing middle class, increasing fitness consciousness and commercial health clubs in cities driving the regional market.
Key players operating in the rubber dumbbells market are Novartis AG (Switzerland), Biogen Inc. (US), Gilead Sciences, Inc. (US), Bristol-Myers Squibb (US), and Alnylam Pharmaceuticals, Inc. (US) among others. Key players focus on new product launches catering to requirements of commercial gyms and home users. They also emphasize on marketing campaigns to promote brand awareness and increase sales.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
