by Rubber dumbbells are a type of handheld weights used for weight lifting exercises. They are made of durable rubber material which makes them safer to use as compared to metal dumbbells. Rubber dumbbells are available in different weight variations and come with an ergonomic non-slip grip for easy handling. They help users perform various weight training exercises safely within confined spaces like home gyms. With gyms being temporarily shut during the COVID-19 pandemic, the demand for setting up home gyms witnessed a significant rise. This increasing demand for home exercise equipment is a key driver boosting the growth of the global rubber dumbbells market.
The global rubber dumbbells market is estimated to be valued at US$ 229.94 Mn in 2024 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:
One of the major trends witnessed in the rubber dumbbells market is the introduction of color coded dumbbells for easy identification of weight. Color coded rubber dumbbells help users identify weights without checking for pounds marking. This has increased their popularity, especially among first time users and elderly population. Furthermore, manufacturers are focusing on product innovation and coming up with ergonomically designed dumbbells with improved grips. The enhanced grips provide better handle and prevent hands from sweating, thereby offering a comfortable exercising experience. This is expected to drive the demand for innovative rubber dumbbells.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the rubber dumbbells market is low as it requires high initial capital investment to manufacture rubber dumbbells and established distribution channels.
Bargaining power of buyers: The bargaining power of buyers in rubber dumbbells market is moderate as there are several players offering substitutes.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to availability of substitute raw materials.
Threat of new substitutes: The threat of new substitutes is moderate as there are several gym equipment which can be used as alternatives to rubber dumbbells.
Competitive rivalry: The competitive rivalry in the market is high as the players compete on the basis of product quality, pricing and innovation.
Key Takeaways
The Global Rubber Dumbbells Market Demand is expected to witness high growth over the forecast period. The global rubber dumbbells market is estimated to be valued at US$ 229.94 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031.
Regional analysis: North America region is expected to dominate the global rubber dumbbells market during the forecast period. Rise in health consciousness and higher per capita expenditure on fitness are propelling the demand for rubber dumbbells in North America.
Key players: Key players operating in the rubber dumbbells market are Novartis AG (Switzerland), Biogen Inc. (US), Gilead Sciences, Inc. (US), Bristol-Myers Squibb (US), Alnylam Pharmaceuticals, Inc. (US), and Sarepta Therapeutics, Inc. (US). Novartis AG offers rubber dumbbell products under brands like PowerBlock and Bowflex which are quite popular among consumers
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
