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Bathtub Market is Expected to Reach USD 8.9 Billion by 2027, Grow At CAGR of 4.3% From 2021-2027, Says Allied Market Research
Bathtub Market
The global bathtub market was estimated at $7.6 billion in 2019 and is expected to hit $8.9 billion by 2027, registering a CAGR of 4.3% from 2021 to 2027.
"High entry barrier and ease of substitute among consumers in developing regions remain the major challenges for the bathtub market players operating in North America."
Access Full Summary: https://www.alliedmarketresearch.com/bathtub-market-A12013
Bathtub's ability to provide mind and body relaxation, many benefits associated with it, and its efficiency for body inflammation of the patients suffering from arthritis fuel the growth of the global bathtub market. By material, the ceramic segment generated the highest share in 2019. By region, on the other hand, the market across Asia-Pacific would portray at the fastest CAGR of 6.7% by 2027.
The demand for bathtubs in the bathtub market is driven by the expansion of hospitality industry. The desire for travelling is rising by the influence of social media; thereby, increasing the number of travelers globally. Moreover, with rise in number of travelers the service demand for hospitality is rising, which is driving the key players in providing best services at minimum cost. Therefore, the hospitality industry is installing the bathtubs with the facility of spa and skin care for relaxation and comfort to provide better facilities to its customers. Thus, growing hospitality industry is driving the demand for both basic and luxurious bathtubs globally.
The global bathtub market is analyzed across type, material, end user, distribution channel, and region. By type, the free standing bathtub segment contributed to more than one-third of the total market revenue in 2019, and is expected to lead the trail in terms of revenue during the forecast period. However, the corner bathtub segment is expected to register the fastest CAGR of 6.3% from 2021 to 2027.
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By material, the ceramic segment generated the highest share in 2019, accounting for more than one-third of the global bathtub market, and is projected to dominate during the forecast period. Simultaneously, the acrylic segment is anticipated to cite the fastest CAGR of 5.5% from 2021 to 2027.
By region, North America garnered the major share in 2019, holding more than two-fifths of the global bathtub market. At the same time, the market across Asia-Pacific is expected to grow at the fastest CAGR of 6.7% throughout the forecast period. The other provinces studied in the report include Europe and LAMEA.
The key market players analyzed in the global bathtub market report include:
• HSIL Limited
• Jacuzzi Inc.
• Jaquar Group
• Kohler Co.
• TOTO Ltd.
• Americh Inc.
• Villeroy & Boch AG
• Ove Decors ULC
• RAK Ceramics P.J.S.C.
• Roca Sanitario S.A.
Key Benefits For Stakeholders:
• The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis and the market size and segmentation assist to determine the prevailing bathtub market opportunities.
• The major countries in each region are mapped according to their revenue contribution to the market.
• The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the bathtub industry.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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