Rowing Machine Market
Rowing Machine Market (Type: Air, Magnetic, Water/Fluid, and Hydraulic; Weight Capacity: Below 250 lbs., 251 - 300 lbs., 301 - 350 lbs., 351 - 400 lbs., and Above 400 lbs.; Pricing: Low, Medium, and High; Consumer Group: Men, Women, and Kids; End User: Residential and Commercial; and Distribution Channel: Online and Offline) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
Press Release :
Health, Fitness Trends to Drive Demand for Fitness Equipment
A rowing machine is a piece of fitness equipment that imitates the motion of rowing a boat in the water. A rowing machine is most useful for a full-body workout. Fitness trends and increasing popularity of rowing machines for weight loss, toning muscles, and increasing stamina have driven the rowing machine market across the globe. Unlike cardio equipment, a rowing machine is used for the upper as well as lower body with an approx. 70-30 ratio. Machines come in several muscle groups depending on user preference.
Fitness trends are evergreen, and people are recommended to workout throughout their life. In order to remain fit and maintain an adequate body structure, most people enroll in health and fitness clubs, while some prefer it at home. Health and fitness clubs continuously upgrade their fitness machines to attract memberships and enhance customer workout motivation. As per a study in 2020, there were more than 200,000 gyms and fitness clubs across the world. The fitness segment witnessed a ~12% increment from the number of gyms available in 2014. This growing number of fitness clubs is anticipating to fuel the demand for the global rowing machine market during the forecast period.
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Negative Impact of COVID-19 on Rowing Machine Market
COVID-19 has interrupted many lives since its arrival. The daily routine for many industries and individuals has dramatically changed in previous months. One of the most affected areas due to nationwide stay-at-home orders is the fitness industry, which was worth several billions. As per records of 2019, more than 100 million people visited health/fitness clubs, and the number tremendously decreased due to strict regulations imposed to avoid the virus. However, many individuals are seeking to stay fit via inventive new ways to exercise and stay active at home. Sales of fitness and sports equipment increased nearly by 23% since the pandemic, as more people have grown health-conscious and extra time to work out. Individual sales through digital platforms are increasing and expected to cover some of the loss. However, a limit in the supply chain and manufacturing workforce is hindering the present global rowing machine market.
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Indoor Rowers Trending for Residential Uses
The global rowing machine market is categorized into residential, commercial, and others. Physical activities from home have been trending for the past few years, and the ongoing stay home orders are proving beneficial for the residential segment. The market is witnessing a larger demand for indoor rowers, as most people are now preferring to work out from home. An indoor rowing machine is primarily used for drawing a competitive environment from across the world. However, as the machine has its better health results, the residential segment is growing in demand and expected to further grow in the near future.
In the global segments of rower machines, the hydraulic rowing machines are expected to hold a larger market share during the forecast period, mostly due to their low pricing and less space-consuming features. Hydraulic rowers utilize liquid or air for resistance. The hydraulic mechanism is all about the movement of force, which makes it convenient for home exercises. However, in the commercial segment, the air rowers are most popular and are preferred by several professional trainers, owing to their various skills induced in users such as exercising for a longer time and efficiently managing body weight.
Asia Pacific to Witness Various Innovations in Fitness Equipment
The North American region accounts for the highest number of gym-goers and is expected to continue dominating the regional segment of the global rowing machine market during the forecast period. In 2018, the United States had more than 40,000 fitness centers, followed by Brazil with around 29,000 gymnasiums in Brazil. North America has contributed more than 55% of the revenue share in 2020. However, with major manufacturers focusing on growing regional market, they have started to shift their production units to Asia Pacific. Thus, the rowing machine market in APAC is expected to witness rising demand in the near future.
With rise in indoor exercising and physical workout activities, customer expenditure, obesity rate of individuals across the globe, and trends of innovative rowers in Olympic Games and world championships, the global rowing machine market is expected to exceed the value of US$ 1.8 Bn by 2031, expanding at a CAGR of ~5% during the forecast period. Furthermore, with increase in investment in health and fitness industries, many new players are entering the market, which is resulting in better competitive strategies. The global market is projected to witness several innovations in rowing machines due to growing technological developments. This is anticipated to prove beneficial for the global rowing machine market during the forecast period.
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The losses and severity of people due to the ongoing COVID-19 pandemic have spread worldwide awareness for health and fitness. People are becoming more health-conscious and have increased working out at homes to avoid any fatal disorders. The rowing machine is proving to be sufficient for full-body workouts with a single instrument. In addition, due to an increasing number of fitness enthusiasts, the number of gymnasiums and fitness centers is expected to rise in the upcoming years, which is likely to generate more demand for the rowing machine market during the forecast period. However, currently, the production rate has hindered due to limited workforce and regulatory restrictions around the world. Nevertheless, with fast-developing production of COVID-19 vaccines and technological innovation, the global rowing machine market is expected to remarkably grow during the forecast period.
Rowing Machine Market: Overview
- According to Transparency Market Research’s latest research report on the global rowing machine market for the historical period of 2017–2019 and the forecast period of 2021–2031, increase in usage of rowing machines in commercial sectors comprising gymnasiums, fitness centers, and fitness clubs where rowing machines provide high intensity workout, have high resistance levels, and strengthens the cardiovascular system are factors expected to boost the global rowing machine market during the forecast period
- In terms of revenue, the global rowing machine market is projected to exceed the value of US$ 1.8 Bn by 2031, expanding at a CAGR of ~5% during the forecast period
Rise in Usage of Rowing Machines in Various End-use Industries to Drive Global Market
- Demand for rowing machines has increased considerably due to indoor exercising and physical workout activities in residential segments. The pandemic has resulted in greater number of people using hydraulic and magnetic rowers at home to reap the benefits of indoor rowers. A rowing machine is ergonomic in use, can be easily adjusted, and is technologically advanced, consisting of a display screen mentioning heart rate, pulse rate, and other measurements of the body. Thus, rowers help in building endurance and strengthens the body.
- Air rowers have become popular among commercial gymnasiums and homes. They are preferred by many professional training providers due to various skills induced in end users such as exercising for longer time and easily maintaining body weight. Air rowers support full-body aerobic workouts and resistance is provided by fan flywheels, which help consumers cool down fast while reducing heat and have in-built heat resistance properties. These factors are likely to create demand for air rowers in the near future.
Advancement in Technology to Generate Opportunities for Rowing Machine Manufacturers, Distributors
- Internet of Things (IoT) technology is influencing the demand for rowers globally. Various wearable IoT devices such as fitness trackers and smart watches have enabled tracking of vital health statistics and amount of calories burned.
- Growing businesses in developing regions, increasing medical need to control obesity rate, rising in sale of rowers for athletes, growing need for various innovative rowers in Olympic Games and world championships, and quiet and smooth action of rowers are likely to create exceptional opportunities for the rowing machine market
- Manufacturing companies are investing in rowing machines consisting of various weight capacities such as 251-300 lbs. and above 300 lbs. These rowing machines can handle people with low as well as high weights and provides easy foot rests on rowers to people having relatively high body weights.
- Improved end user comfort, greater energy efficiency, use of natural wood material, and regulatory compliances are projected to drive the rowing machine market during the forecast period
Rowing Machine Market: Competition Landscape
- Detailed profiles of manufacturers of rowing machines have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global rowing machine market are
- Amer Sports
- Concept2 Inc.
- First Degree Fitness
- Icon Health & Fitness Inc.
- Johnson Health Tech
- Life Fitness
- Nautilus Inc.
- Stamina Products Inc.
- Technogym s.p.a.
- WaterRower Inc.
- Torque Fitness
Rowing Machine Market: Key Developments
- Key providers of rowing machines, such as Amer Sports, Concept2 Inc., First Degree Fitness, Icon Health & Fitness Inc., Johnson Health Tech, and Life Fitness are focusing on improving the product line and creating world-class brands of rowers to attract more customers. Some other key developments in the global rowing machine market are highlighted below:
- In March 2021, Life Fitness partnered with World Gym International, a U.S. fitness center founded in 1976 by Joe Gold, headquartered at California. Under the partnership agreement, the company is expected to benefit by supplying gym equipment and newly launched rowing machines to World Gym International. The new rowing machines were launched in November 2020. The company with this partnership continues to expand globally, while looking to satisfy its members with unique designs.
- In March 2021, Torque Fitness partnered with CrossFit athlete Brent Fikowski. The company with this partnership is looking to enhance product development of fitness equipment for home gyms. This includes developing HIIT (high-intensity interval training) rowing machines and other commercial gym equipment. The company further aims to innovate TANK equipment with more magnetic resistance with the current collaboration and provide functional fitness to customers.
- In 2020, ICON Health & Fitness, Inc. announced that L Catterton, a U.S.-French private equity company had invested US$ 200 Mn in the company. This investment has helped ICON to accelerate its growth and deliver an expansive range of interactive fitness products connected by iFit. IFit is ICON Health & Fitness, Inc.’s patented technology and media platform. The company is focusing and creating connected fitness machines across multiple brands and multiple product categories to increase its share in all consumer fitness segments.
- In the global rowing machine market report, we have discussed individual strategies, followed by company profiles of providers of rowing machine. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global rowing machine market.
Rowing Machine Market – Scope of the Report
A new study on the global rowing machine market has been published by Transparency Market Research (TMR). It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global rowing machine market across the globe. TMR’s study offers valuable information about the global rowing machine market to illustrate how the market would grow during the forecast period of 2021–2031.
Key indicators of market growth, which include value chain as well as supply chain analyses, and Compound Annual Growth Rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the global rowing machine market during the forecast period.
An extensive analysis of business strategies of leading market players is also featured in TMR’s study on the global rowing machine market. This can help readers understand principal factors to foresee growth in the global rowing machine market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global rowing machine market, which is expected to guide market players in making apt decisions in the future.
Key Questions Answered in TMR’s Rowing Machine Market Study
- What are the key factors influencing the rowing machine market in each region?
- What will be the CAGR of the global rowing machine market between 2021 and 2031?
- What is the future scope and current trends in terms of type and weight capacity of the global rowing machine market?
- What is the revenue of the global rowing machine market based on the respective segments?
- Which are the key strategies used by top players of the global rowing machine market?
- Which are the leading companies in the global rowing machine market?
Research Methodology – Rowing Machine Market
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global rowing machine market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global rowing machine market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the rowing machine market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from rowing machine industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global rowing machine market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the global rowing machine market more reliable and accurate.
Rowing Machine Market – Segmentation
TMR’s study on the global rowing machine market includes information categorized into seven sections ? type, weight capacity, pricing, consumer group, end user, distribution channel, and region. Changing industry trends and other crucial market dynamics associated with these sections of the rowing machine market are discussed in detail.