by Rubber Dumbbells have become an increasingly popular choice for home workouts owing to their durability, safety and versatility. Rubber Dumbbells consist of molded rubber encasing cast iron plates providing an ergonomic grip while allowing for variable weight selection. They provide the benefits of free weights while reducing noise and requiring less space compared to barbells.
The global Rubber Dumbbells Market is estimated to be valued at US$ 199.6 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing popularity of home workouts has been a major driver for the rising adoption of Rubber Dumbbells. With more people incorporating exercise into their daily routines at home instead of visiting gyms, there has been a surge in demand for versatile and space-efficient strength equipment like Rubber Dumbbells. Their user-friendly design allows people of all fitness levels to perform a variety of free weight exercises at home in a safe and effective manner without making much noise. This has propelled the sales of Rubber Dumbbells significantly over the past few years.
SWOT Analysis
Strength: Rubber dumbbells offer a safer and more user-friendly alternative to metal weights. They are less prone to causing injuries if dropped compared to metal dumbbells. Their rubber coating also provides a secure, slip-resistant grip.
Weakness: Rubber dumbbells tend to be more expensive than metal dumbbells of similar weights. Over time, the rubber coating may degrade faster than metal weights due to exposure to heat, sweat and friction during exercise.
Opportunity: Growing popularity of home workouts and rise in do-it-yourself gyms presents an opportunity to increase sales of rubber dumbbells. Their portable design makes them well-suited for small spaces.
Threats: Preference for multi-function equipment poses a threat as they potentially replace need for separate dumbbells. Subscription-based digital fitness programs and apps also threaten growth in sales of physical workout equipment.
Key Takeaways
The Global Rubber Dumbbells Market Growth is expected to witness high growth over the forecast period of 2023 to 2030. The market size for rubber dumbbells is estimated to reach US$ 199.6 million in 2023.
Regional analysis indicates North America currently dominates the global rubber dumbbells market with the largest share. However, Asia Pacific is projected to witness the fastest growth during the forecast period owing to rapid growth of affordable gyms and rise of health consciousness in large populous nations like India and China.
Key players operating in the rubber dumbbells market are BASF S.E., Bayer Cropscience AG, FMC Corporation, DowDuPont, Monsanto Company, Nufarm, SinoHarvest Corporation, Syngenta A.G., Sumitomo Chemical, and United Phosphorus. These established players are focusing on new product launches catering to various weight requirements and innovative designs to strengthen their position in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
