Bathtub Market Share Growing At a 4.3% CAGR; Globally, Revenue to Boost Cross $8.9 Billion by 2027

WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, November 28, 2023 /EINPresswire.com/ -- 𝐓𝐡𝐞 𝐛𝐚𝐭𝐡𝐭𝐮𝐛 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐢𝐳𝐞 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟕.𝟔 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟏𝟗, 𝐚𝐧𝐝 𝐢𝐬 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟖.𝟗 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟐𝟕, 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐢𝐧𝐠 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟒.𝟑% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟏 𝐭𝐨 𝟐𝟎𝟐𝟕.

According to a new report published by Allied Market Research, titled, "Bathtub Market by Type, Material, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast 2021–2027". The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/12378

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 bathtub market is segmented on the basis of type, material, end user, distribution channel, and region. Based on type, the global market is divided into free-standing tubs, alcove tubs, drop-in tubs, and corner tubs. On the basis of material, it is divided into marble, acrylic, ceramic, and others. On the basis of end user, the market is bifurcated into residential and commercial. By distribution channel, it is bifurcated into offline and online. Region wise, the global market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America consists of the U.S., Canada, and Mexico. Europe is studied across the UK, Germany, France, Italy, Spain, and the rest of Europe. India, China, Japan, ASEAN, Australia, and the rest of Asia-Pacific are the countries analyzed under Asia-Pacific, while LAMEA includes Brazil, Argentina, Saudi Arabia, South Africa, and rest of LAMEA.

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.

𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/7a3dfd22b35557b59a60a1e95469f5c1

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.

One of the key factors that restrains the demand for bathtubs in the bathtub market is the lack of space availability in the households, as most of the developing countries face issues regarding the space and installing a bathtub. Furthermore, the average size of the small bathroom is 3m x 2m, which is not enough to install a bathtub. Moreover, the traditional bathrooms are also preoccupied with other sanitary wares and adjusting a bathtub into it makes it more congested.

The global bathtub market has been majorly impacted amidst the outbreak of the coronavirus. The COVID-19 pandemic resulted in lockdown and widespread restrictions across the world. The offline sales of bathtubs have nosedived across the world, owing to the downfall of consumer goods industry across the world. Furthermore, recent development in resurgence of the second wave of coronavirus in Europe and North America is one of the major challenges the industry is expected to face in the coming days.

The key players operating in the bathtub market includes Americh, Inc., HSIL Limited, Jacuzzi Inc., Jaquar Group, Kohler Co., Ove Decors ULC, RAK Ceramics P.J.S.C., Roca Sanitario, S.A., TOTO Ltd., Villeroy & Boch AG.

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐌𝐨𝐫𝐞 𝐀𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/purchase-enquiry/12378

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲:

○ By product type,the freestanding bathtub segmentis the most popular and is owning the highest bathtub market share, and the corner bathtub segment is likely to witness significant growth with the highest CAGR during the forecast period.
○ By material, the ceramic bathtub segment registered the major market share, and the others segment is expected to grow with the highest CAGR during the forecast period.
○ By enduser, the demand for commercial bathtub is likely to rise in the near future, owing to the growing tourism and hospitality industry.
○ On the basis of distribution channel, the offline bathtub segment registered the highest sales as compared to the online distribution channel.

𝐑𝐞𝐚𝐬𝐨𝐧𝐬 𝐭𝐨 𝐛𝐮𝐲 𝐁𝐚𝐭𝐡𝐭𝐮𝐛 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:

○ Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
○ Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
○ Classify potential new clients or partners in the target demographic.
○ Develop tactical initiatives by understanding the focus areas of leading companies.
○ Plan mergers and acquisitions meritoriously by identifying Top Manufacturer.
○ Report will be updated with the latest data and delivered to you within 2-4 working days of order.
○ Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
○ Create regional and country strategies on the basis of local data and analysis.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 "𝐀𝐌𝐑 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

○ Australia Bathroom Products Market is projected to reach $4,536.2 million by 2030
○ New Zealand Bathroom Products Market is projected to reach $772.2 million by 2030

○ Bathroom Product Market Will Show An Increase Of By 2027, Report
https://www.alliedmarketresearch.com/bathroom-products-market-A11792

○ Water Bath Market to Witness a Pronounce Growth During 2021-2030
https://www.alliedmarketresearch.com/water-bath-market-A16133

○ Bathroom Heaters Market by Manufacturer, Region, Type and Application Forecast to 2027
https://www.alliedmarketresearch.com/bathroom-heaters-market-A08026

○ Portable Dishwasher Market is projected to reach $9,829.1 million by 2030
https://www.alliedmarketresearch.com/portable-dishwasher-market-A13688

○ Range Hood and Cooktop Market is projected to reach at $37,646.2 million by 2030
https://www.alliedmarketresearch.com/range-hood-and-cooktop-market

○ Cookware Market is projected to reach $34.1 billion by 2030
https://www.alliedmarketresearch.com/cookware-market-A16433

David Correa
Allied Analytics LLP
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