Rowing Machines Market New Product Launches and Development by...

Rowing Machines Market New Product Launches and Development by Competitive Strategy Analysis

Posted 2023-07-27 05:15:22

Data Bridge Market research has recently released expansive research titled "Global Rowing Machines Market" guarantees you will remain better informed than your competition. This study provides the broader perspective of the market place with its comprehensive market insights and analysis which eases surviving and succeeding in the market. Rowing Machines market research report is composed of myriad of factors that have an influence on the market and include industry insight and critical success factors (CSFs), market segmentation and value chain analysis, industry dynamics, market drivers, market restraints, key opportunities, technology and application outlook, country-level and regional analysis, competitive landscape, company market share analysis and key company profiles. In addition, businesses can gain insights into profit growth and sustainability programme with this report. Business intelligence is an essential aspect when it comes to accomplish thorough and wide-ranging market insights and the same is applied for producing Rowing Machines market report.

The global rowing machines market is expected to grow significantly in the forecast period of 2023 to 2030. Data Bridge Market Research analyzes that the market is growing with a CAGR of 5.0% in the forecast period of 2023 to 2030 and is expected to reach USD 1,576,823.44 thousand by 2030. The major factor driving the market growth is the rising popularity of rowing machine products among the millennials and growing awareness regarding the properties of the rowing machine products.

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Market Definition

Rowing machines, also known as ergometers or ergs, use the upper and lower body on every stroke. An indoor rower or rowing machine is a machine used to stimulate the action of watercraft rowing for the purpose of exercise or training for rowing. This helps in strengthening, toning the muscles, and improving endurance. Rowing is considered a total-body workout.

REPORT METRIC	DETAILS
Forecast Period	2023 to 2030
Base Year	2022
Historic Years	2021 (Customizable to 2015 - 2020)
Quantitative Units	Revenue in USD Thousand
Segments Covered	By Type (Air, Water, Magnetic, and Hydraulic), Body Type (Metal and Solid Wood), Weight Capacity (300 to 499 Pounds, 200 to 249 Pounds, 100 to 199 Pounds, and Under 100 Pounds), Distribution Channel (Online and Offline), Resistant Level (Less Than 24 and More Than 24), Color (Black, Light Grey, and Others), End-User (Commercial and Residential)
Countries Covered	U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, UAE, South Africa, Egypt, Israel, and rest of Middle East and Africa
Market Players Covered	BODYCRAFT, Johnson Health Tech, Nautilus, Inc., Mr Captain Brand, Stamina Products, Inc., Sunny Health and Fitness, iFIT Inc., York Fitness UK, Infiniti, Concept2 inc., WaterRower, RP3 Rowing, Peloton Interactive, Inc., ERGATTA, AVIRON INTERACTIVE INC., TECHNOGYM S.p.A, Hydrow, Oartec, Decathlon, Intense Enterprises, HAMMER Sport AG, Tunturi New Fitness, adidas AG., Cosco (India) Limited, Life Fitness, Pure Design Fitness, TOPIOM, Modcon Industries Private Limited, Shandong DHZ Fitness Equipment Co., Ltd, KAYA, SHUA, and SHANDONG BAODELONG FITNESS CO., LTD among others

Global Rowing Machines Market Dynamics

DRIVERS

Rising Awareness of Weight Management Among Millennials

In recent times, there has been an increasing shift among the current millennial generation toward obesity. According to an estimation of Cancer Research U.K., seven out of ten millennials who were born between 1981 and 1996 are on the path to becoming obese or overweight until they reach middle age. Several factors, such as consumption of highly processed foods, fast-paced lifestyle, stress eating, and sedentary lifestyle are factors attributed to obesity among millennials. However, because of different factors, there has been a rise in awareness of weight management among individuals. In this digital age, millennials are connected to a wide range of information available on social media and the internet. The population is exposed to various studies through news articles and other sources related to weight management and its importance for mental and physical well-being. In addition to it, the business involved in the fitness industry, corporates, health professionals, and the government is focused to spread awareness among the young population about the benefits of physical fitness to avoid diseases such as diabetes, cancer, and heart disease.

Increasing Spending on Professional Sports on a Global Level

Most countries worldwide tend to spend money on sports for their citizens. The most important aspect of investment in professional sports is to improve public health so that the risk of chronic diseases such as heart disease and obesity decreases along with improvement in mental health. Moreover, the development of sports has the potential to contribute to the economic development of the nation by creating jobs and generating revenue through events and tourism. In addition to it, sports can improve intercultural communication and understanding. Countries can promote their cultures and create connections with other nations by holding international sporting events. Therefore, to promote the sports culture, the government, and various other organizations spend money on professional sports.

Growing Acceptance of Fitness Equipment in the Flourishing Hospitality Sector

Over the past decades, the hospitality sector has seen a boom worldwide owing to factors such as an increase in disposable income, advancement in technology, ease of access to information, and globalization. In the hospitality industry, the requirements of hotel guests and those of gym customers increasingly coincide. Fitness enthusiasts who reside in hotels for various reasons, such as vacation or business trips prefer to book a room in a hotel, which has access to fitness centers or gyms. Millennials are becoming more aware of physical fitness. Thus, they look for different ways to be fit even when they are traveling and staying in hotels.

OPPORTUNITIES

Rising Spending on Foldable Variants

The global rowing machines market has been growing in recent years owing to various factors such as a rise in awareness of physical activity and a growing dedicated gym setup. Moreover, the manufacturers of rowing machines have observed this trend and are focusing on developing new variants of rowing machines, which are foldable in nature. As the conventional rowing machines acquired more space, it was difficult to set up the machine along with other instruments in the gym. However, due to the foldable variants, the space issue in the gym gets resolved. When not in use, the machines could be folded and kept, which further saves space for other activities. In addition, vertical standing rowing machines are present in the market to which customers are attracted.

Increasing Incorporation of Other Features, Namely Entertainment and Virtual Rowing Experience

The fitness industry is innovating constantly, which is fuelled by digital developments, and social media engagement. There has been increasing significance of technologies, including augmented and virtual reality, blockchain, artificial intelligence, the Internet of Things, robotics, cloud, data analytics, wearable technology, and many more. Manufacturers of rowing machines are incorporating a wide range of technological advancements in rowing machines to give a user-friendly experience to customers.

RESTRAINTS/CHALLENGES

High Prices Associated with Rowing Machines

Rowing machines are well-known fitness equipment that is used for full-body workouts. Through performing workout on rowing machines, one can train a majority of muscles, keeps the heart strong, and aid in weight loss. However, the high price is one of the major drawbacks related to rowing machines. The majority of the price is related to the production cost of the equipment. Various raw materials such as steel, iron, rubbers, and leather are required to build fitness equipment such as rowing machines. Steel prices are volatile in nature that are affected by the supply-demand or geopolitical situations that are occurring across the globe. Moreover, the prices of coking coal, which is a key raw material to manufacture steel, are volatile in nature. The lack of raw materials due to increased demand has caused the cost of rowing machines to go up. Rowing machines are not popular when compared to other fitness equipment, such as cycling bikes and treadmills, which makes the cost of rowing machines scale up. Also, the cost of rowing machines increases due to the high logistics costs. The freight costs are high due to the volatile price of crude oil and the shortage of containers, which contributes to the high cost of logistics.

Availability of Other Fitness Equipment and Various Exercises

Although rowing machines have various advantages associated with them, there are a few drawbacks associated with them. They require a large area due to the flywheel or tank, rails, and the necessity for enough space for a full extension of arms and legs. It can be challenging to fit the machine into a more compact home or apartment. Moreover, if proper form is not maintained, the rower can cause injury or back pain. The noise generated by rowing machines can be unbearable for some individuals, which proves to be one of the drawbacks of rowing machines.

Recent Development

In September 2021, Nautilus, Inc. announced the signing of a formal deal to acquire VAY, a global leader in motion technology. The purchase will enable Nautilus to grow its JRNY digital platform by offering core technologies that will power the company's vision and motion-tracking capabilities, which will allow for real-time data analysis during workouts. These features will be integrated into Nautilus' JRNY platform to develop and expedite highly tailored one-on-one exercise sessions

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Rowing Machines Market, By Region:

The global rowing machines market is segmented into seven notable segments based on type, body type, weight capacity, distribution channel, resistant level, color, and end-user.

The countries in the global rowing machines market are the U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, UAE, South Africa, Egypt, Israel, and rest of Middle East and Africa.

North America is dominating the global rowing machines market with a CAGR of around 4.5%. The U.S. is dominating the North America rowing machines market due to growing awareness of the properties of rowing machine products. Germany is dominating the Europe rowing machines market due to the growing technologies of rowing machine products. South Africa is dominating the Middle East and Africa due to the rising popularity of rowing machines among children.

The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data point downstream and upstream value chain analysis, technical trends, porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.

Reasons to Consider This Report:

Save the time and resources required for entry level research by getting an insight into the leading players and segments of global Rowing Machines market.
The report highlights key business priorities which will help companies to reform their business strategies and establish themselves in the global market.
The key findings and recommendations given in the report emphasize on crucial progressive industry trends in the Rowing Machines Market thereby enabling players to develop effective long term strategies in order to garner their market revenue.
Gain crucial insights into global market trends and outlook and the factors driving and hindering market growth.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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Queries Resolved In This Report:

Which will be the specialties at which Market players profiling with intensive designs, financials, and furthermore, ongoing headways should set a nearness?
Which will be the foreseen development rates for your own economy out and out and furthermore for each portion inside?
Which will be the application and sorts and estimate joined intently by makers?
What will be the dangers that will attack growth?
The length of the global market opportunity?
How does Market share advance vacillations their value from various assembling brands?

Table of Contents: Global Rowing Machines Market

Introduction

Market Segmentation

Executive Summary

Premium Insight

Market Overview

Covid-19 Impact on Rowing Machinesin Healthcare Industry

Global Rowing Machines Market, by Product Type

Global Rowing Machines Market, by Modality

Global Rowing Machines Market, by Type

Global Rowing Machines Market, by Mode

Global Rowing Machines Market, by End User

Global Rowing Machines Market, by Geography

Global Rowing Machines Market, Company Landscape

Swot Analysis

Company Profiles

Questionnaire

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Check Complete Table of Contents with List of Table and Figures @ https://www.databridgemarketresearch.com/toc/?dbmr=global-rowing-machines-market

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