Portland, OR, July 13, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global bathtub market was estimated at $7.6 billion in 2019 and is expected to hit $8.9 billion by 2027, registering a CAGR of 4.3% from 2021 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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. On the other hand, increase in number of bathtub accidents and rising trend of walk-in showers impede the growth to some extent. However, rapid urbanization is expected to create lucrative opportunities in the industry.
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Covid-19 Scenario
- The outbreak of the pandemic made the offline segment witness closure of major distribution channels across the world.
- However, manufacturers are now creating new strategies to recoup from the current situation by means of reforming their sales channels. Also, initiation of mass vaccination drives in most countries is expected to ameliorate the global situation and the market is expected to recoup soon.
The global bathtub market is analyzed across type, material, end user, distribution channel, and region. By type, the free standing bathtub segment contributed to more than one-third of the total market revenue in 2019, and is expected to lead the trail in terms of revenue during the forecast period. However, the corner bathtub segment is expected to register the fastest CAGR of 6.3% from 2021 to 2027.
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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.
By region, North America garnered the major share in 2019, holding more than two-fifths of the global bathtub market. At the same time, the market across Asia-Pacific is expected to grow at the fastest CAGR of 6.7% throughout the forecast period. The other provinces studied in the report include Europe and LAMEA.
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The key market players analyzed in the global bathtub market report include HSIL Limited, Jacuzzi Inc., Jaquar Group, Kohler Co., TOTO Ltd., Americh, Inc., Villeroy & Boch AG, Ove Decors ULC, RAK Ceramics P.J.S.C., Roca Sanitario, and S.A. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.