4.5% of CAGR Triumph: North America and Europe Bathtub Market to Witness Massive Growth by 2032

North America and Europe Bathtub Market-Allied

The growth of the North America and Europe bathtub market is majorly driven by multiple skin and health benefits associated with taking a bath in the bathtub.

PORTLAND, 5933 NE WIN SIVERS DRIVE, UNITED STATES, October 8, 2023 /EINPresswire.com/ — The North America and Europe bathtub market was valued at $5,638.1 million in 2022, and is estimated to reach $8,620.3 million by 2032, registering a CAGR of 4.5% from 2023 to 2032. In 2023, the freestanding bathtub segment occupied the largest market share as it is one of the most popular types of bathtubs due to its ease of installation and lower costs.

A bathtub is a big water-holding container that can be used for bathing either people or animals. The vast majority modern bathtubs are made of iron, steel, porcelain-enameled steel, polyester along with fiberglass reinforcement, or acrylic that has been thermoformed. As consumers think bathtubs are a great stress-relieving tool, customers are using them more regularly. The most common place bathtubs are utilized is in private residences, while their use in commercial hospitality is also swiftly increasing.

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Since there are over 187,000 hotels and resorts operating North America and Europely in 2023, with a prediction for significant increase in their number predicted in the future, the demand for bathtubs will rise. The urge to travel further increases as digital influence and customer purchasing power increase. In addition, the hotel industry grows along with the tourism sector, which propels the demand for essential hotel amenities such as bathtubs. Moreover, customer experiences are what the hotel industry cares about most. Due to the emphasis on customer comfort, opulent bathtubs such as whirlpool bathtubs have seen a considerable rise in demand. These bathtubs are designed for body massage and therapeutic soaks. In addition, bathtubs with spa and skin care amenities for comfort and relaxation have been built and are growing in popularity in the hospitality sector. The need for both affordable and opulent bathtubs is rising as a result of rapid development of the hotel industry. Furthermore, bathtub manufacturers are developing cutting-edge styles and a variety of new technologies to include into bathtubs in the North America and Europe Bathtub market industry. For instance, a mobile application-controlled smart bathtub was recently unveiled by Kohler. The key benefit of the bathtub is that the user does not need to interact with it to get water or complete other pre-bathing tasks. In addition, this bathtub mimics the sensation of a luxurious spa and a hot bathtub at home by mixing lighting, aroma, and artificial fog formed by various essential oils, which are beneficial in calming and relaxing the mind and body. Moreover, the tub notifies the distributor or client of any planned maintenance or power outages.

A conventional bathroom is 4m by 5m in size, however, a tiny bathroom is often 3m x 2m, which is insufficient to install and use a bathtub since bathtubs are most appreciated in large bathrooms. Installing a bathtub is challenging because most bathrooms are already crammed with other essential amenities. Tiny bathrooms might be as tiny as 36 to 40 square feet and only require 13 square feet for a bathtub, which deters customers from placing bathtubs, thereby restricting the North America and Europe bathtub market expansion. A well-known maker of bathroom accessories reported that walk-in showers are increasing in popularity since they can be used by anyone, regardless of age or mobility, which lowers the need for and sales of bathtubs. Furthermore, because they provide a quick bath, showers are chosen for frequent rehydration, whereas bathtubs are often only utilized on the weekends when there is spare time because bathing takes longer. As a result, customers shift their preference from taking baths in bathtubs to showers, severely restricting the North America and Europe bathtub market growth.

The World Bank estimates that more than half of the world’s population lives in cities, and that percentage is projected to more than double in the foreseeable future. As urbanization grows, so does the employment rate, thus raising the overall disposable income of customers. In addition, with surge in disposable income and purchasing power, they are moving more toward a better and healthier lifestyle. This is increasing demand for bathtubs, as they offer multiple health advantages, including detoxification, which is important for both the mind and body and aids in North America and Europe bathtub market expansion. Furthermore, improved lifestyles and robust economies propel the bathtub use in emerging economies. Thus, all of these factors collectively are anticipated to offer lucrative opportunities for the expansion of the North America and Europe Bathtub market size during the forecast period.

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The North America and Europe bathtub market is segmented into type, material, end user, distribution channel, and region. By type, the market is classified into free-standing bathtubs, alcove bathtubs, drop-in bathtubs, corner bathtubs, and shower. Depending on material, it is categorized into marble, acrylic, ceramic, and others. As per end user, it is divided into residential and commercial. According to the distribution channel, it is bifurcated offline sales channel and online sales channel. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico) and Europe (UK, Germany, France, Italy, Spain, and rest of Europe).

The freestanding bathtub segment accounted for the majority North America and Europe Bathtub market share of the bathtub market; however, the corner bathtub segment is expected to grow with the highest CAGR during the forecast period, owing to increase in consumer interest in areas with compact and unique bathroom designs. The ceramic bathtub was the major share contributor in the North America and Europe bathtub market in 2022, whereas the acrylic bathtub segment is expected to exhibit the highest growth during the forecast period owing to lower costs and easy availability of acrylic materials for bathtubs. The residential sector was the key shareholder in 2022, while the commercial sector is expected to grow at the highest rate in the future owing to surge adoption of bathtubs by the hospitality sector according to the new North America and Europe bathtub market trends. Offline sales channel held the highest market share in 2022; however, the online sales channel is predicted to exhibit the highest growth due to increase in consumers inclination toward purchasing products online.

According to region, North America held the largest share of the North America and Europe bathtub market in terms of revenue in 2022, which represented more than half of the bathtub market revenue for North America and Europe, and Europe is expected to experience the fastest CAGR growth from 2022 to 2031, as there is an increase in the adoption of bathtub by the consumers in the region.

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Key findings of the study

The freestanding bathtub segment held the largest market share in 2022, however, the corner bathtub segment is expected to grow at the fastest rate during the forecast period.

Depending on material, the ceramic segment claimed the largest share in the North America and Europe bathtub market 2022, while the acrylic segment is expected to grow at the fastest CAGR during the forecast period.

On the basis of end user, the residential segment accounted for the largest share in 2022, while the commercial segment is predicted to have the highest growth during the forecast period.

By distribution channel, the offline segment held the highest share in 2022, whereas the online segment is expected to have the highest growth during the forecast period.

The players operating in the North America and Europe bathtub market have adopted various developmental strategies to gain profitability and remain competitive. The key players operating in the North America and Europe bathtub market include Jaquar Group., Kohler Co., ROCA SANITARIO, S.A., Americh, Inc., Jacuzzi Brands, LLC, OVE Decors ULC, RAK Ceramics PJSC, Toto Ltd., Villeroy & Boch AG, and Victoria & Albert Baths Limited.

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Originally published at https://www.einpresswire.com/article/660436095/4-5-of-cagr-triumph-north-america-and-europe-bathtub-market-to-witness-massive-growth-by-2032-by-amr

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