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The dumbbells market size is estimated to grow at a CAGR of 2.92% between 2023 and 2028. The market size is forecast to increase by USD 267.66 million. The growth of the market depends on several factors, such as the increased demand for home fitness equipment, the adoption of fitness-related initiatives by corporates, and product innovation, leading to portfolio extension and product premiumization.
This dumbbells market report extensively covers market segmentation by distribution channel (offline and online), application (commercial and household), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022 .
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Product innovation leading to portfolio extension and product premiumization is the key factor driving market growth. The use of new technologies and product innovations has let market players come up with fitness equipment that is innovative in terms of design, quality, and features. The global dumbbells market players are extending their product line to include products that can be used by all age groups. Increasing purchasing power, coupled with the rise in preference for innovative and technically efficient fitness products, is augmenting the sales of such fitness products, especially in developed economies.
For example, KPS Capital Partners LP, one of the prominent vendors operating in the market through its major brand Life Fitness, offers Hammer Strength Round Urethane Dumbbells embedded with premium urethane and are available in multiple weight options and sets. Thus, such factors will play a major role in driving the demand for such fitness products during the forecast period. Therefore, the global dumbbells market will grow during the forecast period.
Growing online fitness training is the primary trend shaping market growth. Some portals and websites on the Internet provide free fitness training at nominal subscription fees. This attracts a lot of fitness-conscious customers as it provides them the comfort of practicing at their homes instead of going to gyms and health clubs. These training programs provide fitness tips and tricks about exercises, daily diets, and fitness activities. They also prove very convenient for working women, housewives, and those who cannot travel to health clubs and fitness centers due to time crunch.
For example, the GOLDS GYM mobile application, GOLDS AMP, offers customers audio and video coaching. It includes various types of workouts, DJ Mixes, and expert coaches. In addition, several other players have also come up with fitness mobile apps. This helps them with higher customer engagement and satisfaction. Such apps also help fitness centers and clubs to earn additional revenue. Hence, such factors will drive the growth of the global dumbbells market during the forecast period.
Lack of expert training personnel is a challenge that affects market growth. The demand for fitness trainers has grown as a result of the rise in the number of gyms, fitness centers, and health clubs on a global level, coupled with the availability of different advanced fitness equipment and rising disposable income. However, when exercising outdoors, people have to train all by themselves without help from fitness trainers or experts.
.Moreover, the lack of trainers and low awareness of exercise and gym equipment like dumbbells, especially in developing economies, inhibit many consumers from availing themselves of gym facilities. The lack of knowledge of using equipment like dumbbells also results in serious accidents, causing problems such as muscle disruption, back disc movement, or severe body pain. Hence, the lack of expert training personnel is curtailing the growth of the global dumbbells market.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Dumbbells Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The offline segment is estimated to witness significant growth during the forecast period. Retail outlets contain direct selling, distributors, department stores, and specialty stores. The steady rise in the number of stores offering fitness equipment such as dumbbells is a major factor driving the growth of the offline segment. These stores often have customer-care professionals to offer advice on the benefits of the equipment, which is a major reason why people prefer these stores. In addition, it helps manufacturers to keep the operating cost low as middlemen are not involved.
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The .offline segment was the largest segment and was valued at USD 1.26 billion in 2018. The sale of home fitness equipment, such as dumbbells, is common through retail outlets, particularly in developing regions where internet penetration is low. Thus, market players have raised the availability of home fitness equipment in retail outlets to meet the growing demand. Unlike online stores, which involve a specific waiting time for the delivery of the products, the ability to buy and own products immediately after a purchase has led to an increase in consumers purchasing them from retail outlets. Hence, such factors will drive the growth of the offline segment in the global dumbbells market during the forecast period.
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Europe is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to market players is North America. A rise in the millennial population joining fitness and recreational sports centers, coupled with technologically innovative fitness equipment specially designed for end-users, will drive the dumbbells market in the region.
Moreover, high internet penetration and the rise in the number of unique mobile subscribers are the major factors driving the market growth. Moreover, several market layers are offering smart and innovative equipment, such as smart dumbbells that can easily change weights, while health clubs and gymnasiums are coming up with health support groups and buddy systems to target the teenage population. Furthermore, an increase in awareness about the benefits of a healthy lifestyle is resulting in a steady growth of the market during the forecast period.
In 2020, the outbreak of COVID-19 negatively affected the growth of the regional dumbbells market. However, the use of this equipment at home for exercise is raised across North America. Furthermore, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Advances in dumbbell technology make them easier and more enjoyable to use; therefore, such factors will drive the growth of the regional dumbbells market during the forecast period.
The dumbbells market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Dumbbells Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.92% |
Market growth 2024-2028 |
USD 267.66 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
1.78 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 32% |
Key countries |
US, China, UK, Russia, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Body Sport, Core Health and Fitness LLC, Ecom Fitness Platform LLC, Gorilla Sports GmbH, gym80 International GmbH, Jordan Fitness Ltd., KREATIVE ENTERPRISES, Life Fitness, Nautilus Inc., POWERHOUSE FITNESS, Rep Fitness, Rogue Fitness, Sanguine Sports Pvt. Ltd., SD Fitness Equipment, Strength Shop Ltd., TECHNOGYM S.p.A, Torque Fitness, Watson Gym Equipment, Wolverson Fitness Ltd., and York Barbell USA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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