Bathtub Market Soars with Trends, Size, and Lucrative Growth || Johnson Controls International plc, Apollo Global Management LLC, Kohler Co., MUNK Group AG, TOTO Ltd., Lixil Group Corporation

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Bathtub Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth 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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Market Segmentation:
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 Driver - Rising Expansion Of Hospitality Industry To Drive 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.

Competitive Landscape:
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

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Top Trend - Product Innovations Transforming The Bathtub Market
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 Table Of Content For The Market Report Include:
1. Executive Summary
2. Bathtub Market Characteristics
3. Bathtub Market Trends And Strategies
4. Bathtub Market - Macro Economic Scenario
5. Bathtub Market Size And Growth
…..
27. Bathtub Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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