Global Bathtub Market 2022 to 2031 - Players Include Jacuzzi, Jaguar, Kohler and RAK Ceramics - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Bathtub Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the global bathtub market.

The global bathtub market is expected to grow from $8.04 billion in 2021 to $8.28 billion in 2022 at a compound annual growth rate (CAGR) of 2.9%. The bathtub market is expected to grow to $9.29 billion in 2026 at a CAGR of 2.9%.

Major players in the bathtub market are Jacuzzi, Jaguar, Kohler Co., RAK Ceramics P.J.S.C., Roca, Villeroy & Boch, Orans, Colston, Johnson, American Bath Group, Eczacibasi Group, MUNK, Arrow, Appollo, Duravit, Kaldewei and TOTO Ltd.

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The bathtub market consists of sales of bathtubs by entities (organizations, sole traders, and partnerships) that refers to a large vessel for holding water in which a person may bathe. A bathtub is generally placed in the restroom as stage alone institution or in confluence with a shower.

Utmost ultramodern bathtubs are made of fiberglass or Acrylic, but some may be available in ceramic or over steel or cast iron and sometimes a leakproof wood. Ultramodern bathtubs may have waste water out points and include a tap on top. Generally, many bathtubs are in recent gular shape but with the arrival of acrylic thermoformed cataracts, further shapes are getting available.

The main types of bathtubs are acrylic, cast iron, and fiberglass. Acrylic tubs are comprised of vacuum-formed acrylic sheets that are typically bonded with fiberglass for further strength. Because the material is naturally soft and elastic, it's ideal for a wide range of tub shapes and sizes. Bathtubs are of various shapes such as rectangular, square, oval that is installed free standing, alcove, drop-in in a residential or commercial building.

North America was the largest region in the bathtub market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bathtub market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The bathtub market research report is one of a series of new reports that provides bathtub market statistics, including bathtub industry global market size, regional shares, competitors with a bathtub market share, detailed bathtub market segments, market trends and opportunities, and any further data you may need to thrive in the bathtub industry. This bathtub market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The expansion of the hospitality industry is driving the growth of the bathtub market. Many hotels and resorts have bathtubs installed in their guest rooms to provide a luxurious and comforting experience to travelers. According to IBEF, an Indian Government export promotion agency, in 2020, In India, the tourism industry employed 39 million people, accounting for 8.0 % of the country's overall workforce. It is estimated to employ almost 53 million people by 2029.

Moreover, according to the World Travel and Tourism Council, a forum for the travel and tourism industry, India placed 10th out of 185 nations in terms of overall contribution to GDP from travel and tourism in 2019. In 2019, travel and tourism contributed 6.8% of the entire economy's GDP or Rs. 13,68,100 crore (US$ 194.30 billion). Such a rise in the travel industry is expanding the hospitality industry driving the growth of the market.

Technological advancement is a key trend gaining popularity in the bathtub market. Major companies operating in the bathtub market are focused on bringing advancements in technologies to offer an enhanced product to its customer. For instance, in January 2022, Kohler launched the PerfectFill technology bathtub. The bathtub has voice command technology that uses Alexa to fill and remove water into and from the bathtub. PerfectFill is made up of a drain kit and a digital valve that work together to bring the bath to the temperature and depth that is chosen.

In October 2020, Centerbridge Partners, L.P a leading global financial investment firm headquartered in New York, USA has acquired American Bath Group LLC through its affiliates Lone Star Funds for an undisclosed amount. As a result of this acquisition, Centerbridge Partners can strengthen its portfolio of a business and can also expand its overall company growth, and strengthen its operations. American Bath Group LLC is a leading global manufacturer of restroom fittings like bathtubs, showers, and many more headquartered in Tennessee USA.

The countries covered in the bathtub market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

For more information about this report visit https://www.researchandmarkets.com/r/bmk8k2-global?w=4