Overview and Scope
Bathtub refers to a large vessel for holding water in which a person may bathe. A bathtub is generally placed in the restroom as stage alone institution or in confluence with a shower. Utmost ultramodern bathtubs are made of fiberglass or Acrylic, but some may be available in ceramic or over steel or cast iron and sometimes a leakproof wood. Ultramodern bathtubs may have wastewater out points and include a tap on top. Generally, many bathtubs are in recent gular shape but with the arrival of acrylic thermoformed cataracts, further shapes are getting available.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
North America was the largest region in the bathtub market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bathtub market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the bathtub market report are Johnson Controls International plc, Apollo Global Management LLC, Kohler Co., MUNK Group AG, TOTO Ltd., Lixil Group Corporation, Jaguar Land Rover Limited, Eczacibasi Holding A.S., Roca Sanitario S.A., Hansgrohe SE, Villeroy & Boch AG, Mingyoung Conservation Inc., RAK Ceramics Public Joint Stock Company, Cheviot Corporation, Teuco Group SpA, Duravit AG, Jacuzzi Inc., American Bath Group LLC, Maax Bath Inc., Kaldewei GmbH & Co. KG, Cera Sanitaryware Limited, AQUAPLUS PVT. LTD., Orans Group S.r.l., Mirolin Industries Inc., Colston Group, Arrow Valves Inc., Royal Manufacturing Inc., Americh Corporation, Jade Bath & Shower Products, Ariel Shower Doors & Bathtubs
The bathtub market report table of contents includes:
1. Executive Summary
2. Bathtub Market Characteristics
3. Bathtub Market Trends And Strategies
4. Bathtub Market – Macro Economic Scenario
5. Global Bathtub Market Size and Growth
…
32. Global Bathtub Market Competitive Benchmarking
33. Global Bathtub Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Bathtub Market
35. Bathtub Market Future Outlook and Potential Analysis
36. Appendix
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