Pune, India, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The global bathtub market size stood at USD 9.73 billion in 2021. The market is anticipated to expand from USD 10.20 billion in 2022 to USD 15.10 billion by 2029, exhibiting a CAGR of 5.72% over the estimated period. The rise is being driven by the growing adoption of sanitary ware in the construction sector.
This information is provided by Fortune Business Insights™ in its research report, titled “Bathtub Market, 2022-2029”.
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Bathtub Market Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 5.72% |
| 2029 Value Projection | USD 15.10 Billion |
| Base Year | 2020 |
| Bathtub Market Size in 2021 | USD 9.73 Billion |
| Historical Data | 2017-2019 |
| No. of Pages | 202 |
| Segments Covered | By Type, By Application, By Material Type, By Shape, By Region |
| Bathtub Market Growth Drivers | Industry Value to Surge Driven by Increasing Construction in Residential and Commercial Sectors |
| Expansion of the Hospitality Industry to Favor Market Expansion |
Fortune Business Insights™ lists out all the bathtub market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- 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.)
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.
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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.
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 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.
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.
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.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Parent Market
- Industry SWOT Analysis
- Bathtub Products Supply Chain Analysis
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Potential Opportunities due to COVID-19 Pandemic
- Global Bathtub Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Free standing
- Alcove
- Drop-in
- Others
- Market Analysis, Insights and Forecast – By Material
- Acrylic
- Cast Iron
- Fiberglass
- Others
- Market Analysis, Insights and Forecast – By Application
- Residential
- Commercial
- Market Analysis, Insights and Forecast – By Shape
- Rectangular
- Oval
- Square
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
TOC Continued…!
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Key Industry Development:
- March 2022 - The Engineered Stone Group announced its acquisition of MTI Baths and Aquatica. The deal helped in enhancing the company’s ability to serve customers in North America.
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Bath and Shower Products Market - The global bath and shower products market size was USD 43.22 billion in 2020. The market is projected to grow from USD 44.78 billion in 2021 to USD 63.16 billion in 2028 at a CAGR of 5.0% during the 2021-2028 period. Asia Pacific stood at USD 15.99 billion in 2020 and is expected to dominate the global market during the forecast period.
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