Market Overview:
According to Fortune Business Insights Global Bathtub Market size was valued at USD 10.72 billion in 2023. The market is projected to grow from USD 10.29 billion in 2024 to USD 18.22 billion by 2032, exhibiting a CAGR of 6.17% during the forecast period.
List of Key Players Mentioned in the Report:
- Toto Ltd. (Japan)
- Royal Manufacturing (S.)
- Villeroy & Boch Group (Germany)
- RAK Ceramics (UAE)
- American Bath Group (S.)
- Geberit AG (Switzerland)
- Porcelanosa Group (Spain)
- LAUFEN Bathrooms AG (Switzerland)
- Jacuzzi Inc. (S.)
- Kohler Co. (S.)
Get a Sample of this Report:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/bathtub-market-106211
Segments:
Alcove Bathtubs to Gain Traction Driven by Popularity in Various Regions
On the basis of type, the market is categorized into drop-in, free standing, alcove, and others. Of these, the alcove segment is anticipated to register substantial growth over the projected period. The surge can be attributed to the rising popularity of the product in Europe and North America.
Residential Segment to Record Commendable Growth Owing to Increasing Renovations
Based on application, the market is fragmented into commercial and residential. The residential segment is estimated to record appreciable expansion throughout the forecast period. The rise is being propelled by an escalation in renovation projects in various regions.
Fiberglass Segment to Register Notable Surge Due to Low Cost
On the basis of material type, the market is subdivided into cast iron, acrylic, fiberglass, and others. The fiberglass segment is projected to depict commendable growth over the analysis period. This is on account of a range of benefits such as light weight, low cost, and the ease of installation.
Oval Shaped Tubs Exhibit Soaring Demand Considering Rising Product Adoption in Smaller Homes
Based on shape, the market is segregated into oval, square, rectangular, and others. Oval shaped tubs are anticipated to register lucrative expansion throughout the forecast period. The rise is being driven by an increase in the product adoption in smaller homes and apartments.
On the basis of geography, the market for bathtubs has been studied across five regions. These include Asia Pacific, Europe, North America, the Middle East & Africa, and South America.
Report Coverage:
The report provides an in-depth analysis of the significant trends favoring market expansion throughout the estimated period. Some of the other aspects of the report include the key steps taken by major participants for consolidating their position in the market. The report also gives an insight into the prominent factors impelling industry growth over the projected period.
Drivers and Restraints:
Market Value to Rise Driven by Growing Construction in Commercial & Residential Sectors
One of the major factors driving he bathtub market growth is the upsurge in infrastructure projects. The expansion of the commercial construction and real estate sector is expected to propel the demand for smart bathrooms, impelling business expansion.
However, the industry growth may be hindered due to lack of indoor plumbing in households.
Regional Insights:
Asia Pacific to Lead Driven by Rising Number of Construction Projects
The Asia Pacific bathtub market share is estimated to record notable growth over the forecast period. The rise can be attributed to the surging urbanization and an increase in residential and commercial construction projects in countries such as India and China.
North America is expected to hold a considerable share in the market. This is on account of the presence of well-established market players in countries such as Canada and the U.S.
To get to know more about this market, please visit:
https://www.fortunebusinessinsights.com/bathtub-market-106211
Competitive Landscape:
Leading Companies Enter into Partnership Deals to Strengthen Industry Position
Major market participants focus on partnership agreements and collaborations to expand their product reach. Many companies are also adopting various initiatives including acquisitions and mergers to increase their geographical footprint. The rising participation in trade fairs and conferences is another prominent step taken by major industry players to strengthen their industry position.
Key Industry Development:
- October 2023: The German bathroom and kitchen fixtures brand announced that they are all prepped up to establish a manufacturing facility in India. The company planned to commence operations in the country with an assembly line in Pune, Maharashtra by the first quarter of 2024, with lines for basin mixers, bath mixers and overhead showers.
Comments
0 comment