he Bathtub Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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https://www.thebusinessresearchcompany.com/report/bathtub-global-market-report
According to The Business Research Company’s Bathtub Global Market Report 2024, The bathtub market size has grown steadily in recent years. It will grow from $8.51 billion in 2023 to $8.74 billion in 2024 at a compound annual growth rate (CAGR) of 2.7%. The growth in the historic period can be attributed to housing construction boom, economic prosperity, changing lifestyles, aging population, real estate market dynamics, cultural influences.
The bathtub market size is expected to see steady growth in the next few years. It will grow to $9.83 billion in 2028 at a compound annual growth rate (CAGR) of 3.0%. The growth in the forecast period can be attributed to health and wellness focus, water conservation initiatives, e-commerce growth, global health concerns, regulatory standards. Major trends in the forecast period include smart bathtubs, compact and space-saving designs, customization options, innovations in material and construction, luxury and spa-like features, accessible bathtub designs.
The expansion of the hospitality industry is driving the growth of the bathtub market. The hospitality industry encompasses a broad range of businesses and services that are focused on providing accommodations, meals, and various forms of entertainment and support to guests. In the hospitality industry, bathtubs are utilized to enhance the overall guest experience and provide various amenities that contribute to comfort, relaxation, and overall satisfaction. For instance, in 2023, according to reports published by the American Hotel and Lodging Association, a US-based industry trade group, hotel revenue increased from $189.07 billion in 2022 to $197.48 billion in 2023. Therefore, the expansion of the hospitality industry is driving the growth of the bathtub market.
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The bathtub market covered in this report is segmented –
1) By Type: Acrylic, Cast Iron, Fiberglass
2) By Shapes: Rectangular, Square, Oval
3) By Installation: Free Standing, Alcove, Drop In
4) By Application: Residential, Commercial
Major companies operating in the bathtub market are developing new products such as water traps for bathtubs to gain a competitive edge in the market. Water traps for bathtubs are plumbing components designed to prevent the escape of sewer gases and unpleasant odors from the drainage system into the bathroom. For instance, in June 2022, Prevex, a Finland-based water traps company, launched a new series of water traps for bathtubs called Prevex Bathloc, expanding its product range. The Bathloc product family offers stylish and customizable water traps for bathtubs, featuring various models to fit different needs and bathtub designs. One notable innovation is the Prevex Bathloc EasyClean model, which simplifies cleaning by allowing users to lift the silicon basket from above, turn it inside out, and remove dirt effortlessly. The product family aligns with Prevex’s commitment to sustainability, with the products already made of 50% recycled plastic.
The bathtub market report table of contents includes:
1. Executive Summary
2.Bathtub Market Characteristics
3.Bathtub Market Trends And Strategies
4.Bathtub Market analysis
5.Bathtub Market Size And Growth
6. Bathtub Segmentation
7. Bathtub Regional And Country Analysis
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27.Bathtub Competitive Landscape And Company Profiles
28. Bathtub Key Mergers And Acquisitions
29. Bathtub Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Johnson Controls International PLC
- Apollo Global Management LLC
- Kohler Co.
- MUNK Group AG
- TOTO Ltd.,
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