Global Bathtub Market Size study & Forecast, by Material (Acrylic, Fiberglass, Porcelain, Cast Iron and Others), by Shape (Rectangular, Oval, Square and Others) and Regional Analysis, 2023-2030

Global Bathtub Market Size study & Forecast, by Material (Acrylic, Fiberglass, Porcelain, Cast Iron and Others), by Shape (Rectangular, Oval, Square and Others) and Regional Analysis, 2023-2030

Global Bathtub Market is valued approximately USD 9.5 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.10% over the forecast period 2023-2030. The growing preference for contemporary bathroom designs worldwide has sparked a notable uptick in bathroom renovations and home improvement endeavors, particularly in pivotal economies such as China, the U.S., and Japan, thereby accelerating market growth. As per Houzz Inc., a significant majority of homeowners, approximately 62%, prioritize upgrades to their home systems, with a particular emphasis on enhancing their bathrooms. This trend underscores a burgeoning demand for versatile and multifunctional bathrooms, combined with an amplified focus on aesthetic appeal. Such inclinations are expected to serve as key drivers propelling market growth throughout the forecast period.

The growing inclination among consumers towards remodeling and retrofitting existing bathrooms is anticipated to bolster demand for bathtubs. Additionally, the increasing accessibility of a wide range of bathroom fittings through e-commerce platforms and company websites is expected to steer customer preference towards online shopping, consequently driving bathtub sales and favoring market growth. However, challenges such as the volatile nature of the residential construction industry and limited bathroom space may pose obstacles to market expansion. Nonetheless, the design of homes with multiple bathrooms is projected to contribute significantly to market growth.

The surge in urbanization and notable shifts in consumer purchasing behavior have led to an increased demand for bathroom furniture and fittings, including bathtubs, cabinets, shelves, and storage solutions. In response to this escalating demand, manufacturers in this sector are actively pursuing advancements in raw materials, manufacturing techniques, and the integration of smart technology. These endeavors are aimed at meeting evolving consumer preferences, presenting lucrative opportunities for growth and expansion among key industry players. The continued focus of manufacturers on innovation and product enhancement is expected to drive the market's sustained expansion. Furthermore, the upsurge in residential construction activities across developing economies like China, India, and Indonesia is expected to drive the demand for bathtubs. As per the World Economic Forum, approximately 200,000 individuals migrate to urban areas daily in search of affordable housing and infrastructure. Additionally, data from the International Organization for Migration (IOM) reveals that around 281 million people migrated internationally in 2020, constituting 3.6% of the global population. This demographic shift is poised to stimulate the development of residential spaces worldwide, presenting significant opportunities for market growth throughout the forecast period. Moreover, Economic downturns or fluctuations can impact consumer spending on discretionary items like home improvement products, affecting bathtub sales.

The key regions considered for the Global Bathtub Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, Europe emerged as the dominant market for bathtubs. A notable trend observed in the region is the significant growth in hotel reservations across major tourist destinations. According to data from the travel digital marketing platform Sojern in 2022, Greece reported booking figures surpassing those of 2019, with June bookings 24.2% higher than pre-pandemic levels. These trends signify the revival of travel in Europe, prompting hoteliers to renovate rooms to meet customer demands. The hotel industry in Europe is undergoing a transformation, both technologically and in terms of luxury offerings, to adapt to evolving customer preferences. This renovation drive encompasses various areas, including hotel room bathrooms and walk-in cabinets, thus driving the demand for bathtubs. The focus is on introducing new and innovative products and services to enhance the overall guest experience, aligning with changing client needs and preferences.

The Asia Pacific region is projected to experience the fastest compound annual growth rate (CAGR) from 2023 to 2030. This anticipated growth can be attributed to several factors, including the availability of a wide range of bathtub products offered by both regional and international market players. These products include freestanding, alcove, drop-in, and corner bathtubs, catering to diverse consumer preferences and requirements. As a result, the Asia Pacific market is poised to witness substantial growth during the forecast period, driven by the availability of a comprehensive selection of bathtub options from various manufacturers.

Major market player included in this report are:
Kohler Co.
TOTO LTD
American Standard
Duravit AG
Jacuzzi Inc.
Roca Sanitario, S.A.U.
Delta Faucet Company
American Bath Group
Villeroy & Boch AG
BAINULTRA

Recent Developments in the Market:
 In September 2023, Villeroy & Boch AG concluded binding agreements to acquire operational entities within the Ideal Standard Group. This strategic decision is grounded in their alignment in terms of regional presence, sales strategies, product range, and brand portfolios. By integrating operational firms from the Ideal Standard Group, Villeroy & Boch aims to strengthen its market position and enhance its offerings to customers, fostering growth and competitiveness in the industry.

Global Bathtub Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Material, Shape, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Material:
Acrylic
Fiberglass
Porcelain
Cast Iron
Others

By Shape:
Rectangular
Oval
Square
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

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