PORTLAND, Ore., August 9, 2021 / PRNewswire / – Allied Market Research published a report titled, Bathtubs market by type (freestanding bathtubs, alcove bathtubs, built-in bathtubs and corner bathtubs), material (marble, acrylic, ceramic and others), end user (residential and commercial) and distribution channel (offline and online). line): Global Opportunity Analysis and Industry Forecast 2021-2027. ” According to the report, the global bathtub industry has generated $ 7.6 billion in 2019, and is expected to reach $ 8.9 billion by 2027, with a CAGR of 4.3% from 2021 to 2027.
Main determinants of growth
The ability of the bathtub to relax the mind and body, the many benefits associated with it, and its effectiveness against the bodily inflammation of arthritis patients are driving the growth of the global bathtub market. However, the increase in the number of bathtub accidents and the growing trend of walk-in showers are hampering the growth of the market. On the other hand, increasing urbanization presents new opportunities in the years to come.
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- The COVID-19 pandemic has had a significant impact on the bathtub market. The offline segment has seen the closure of major distribution channels across the globe in an effort to curb the spread of the coronavirus.
- Manufacturers are strategizing to get out of the current situation by redesigning their sales channels as well as innovating in products.
Freestanding bathtub segment to maintain its leading position during the forecast period
On the basis of type, the freestanding bathtub segment held the highest share in 2020, holding more than a third of the global bathtub market, and is expected to maintain its leading position in terms of revenue during the forecast period. . This is because they do not require a wall bracket for installation. However, the corner tub segment is estimated to have the highest CAGR of 6.3% from 2021 to 2027, due to its bubble and whirlpool characteristics which are mainly used for relaxation.
Ceramics Segment Will Maintain Leading Status During Forecast Period
On the basis of material, the ceramic segment accounted for the highest share in 2019, contributing over a third of the global bathtub market, and is expected to maintain its leading status during the forecast period. This is due to its appearance property, as this tub can be designed with a smooth and shiny appearance inside the tub. In addition, the customer can also cover their exterior surface with ceramic tiles according to the needs and design of the bathroom, which leads to the growth of their demand. However, the acrylic segment is expected to represent the fastest CAGR of 5.5% from 2021 to 2027, due to its versatility, as this material can be easily molded into different shapes and designs, which helps manufacturers to produce bathtubs. made of acrylic with a wide range of options. .
North America retain its dominant share by 2027
Depending on the region, North America accounted for the highest share in 2019, contributing more than two-fifths of the global bathtub market, and is expected to retain its dominant share by 2027. US home improvement owners have claimed they primarily use the bathroom for relax. Bathtubs and showers are important bathroom features for residents of the United States. This factor is driving the growth of the bathtub market in the province. However, Asia Pacific is expected to register the highest CAGR of 6.7% during the forecast period, due to rapid urbanization, increasing trend of digitization and emergence of modern retail channels . In addition, high disposable income and consumer awareness of the importance of soaking in bathtubs are likely to boost demand for products in the region.
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The main players in the market
- Americh, Inc.
- HSIL Limited
- Jacuzzi inc.
- Jaquar Group
- Kohler Co.
- Ove Décors ULC
- RAK Ceramic PJSC
- Roca Sanitary
- SA, TOTO SA
- Villeroy & Boch SA.
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