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Hot Tub Market Analysis

  • Report ID: GMI8620
  • Published Date: Mar 2024
  • Report Format: PDF

Hot Tub Market Analysis

Based on type, the market is divided into above-ground hot tubs, portable hot tubs, and in-ground hot tubs. Above-ground hot tubs segment dominated around USD 2.2 billion in 2023 and set to reach USD 3.3 billion by 2032. Above-ground hot tubs are generally more affordable than in-ground models. The cost of installation for an in-ground hot tub can be significantly higher due to excavation, plumbing, and landscaping expenses. This makes above-ground options more accessible to a wider range of consumers.

Additionally, installing an above-ground hot tub typically requires minimal construction work compared to in-ground models. Many above-ground hot tubs can be set up quickly and easily with minimal professional assistance, reducing both time and labor costs.

Hot Tub Market Revenue Share, By Price Range, (2023)

Based on price range, the hot tub market is categorized into low, medium, and high. The medium segment accounted for a revenue share of about 55% in 2023 and is poised to gain market share of 59% by 2032. Mid-price hot tubs offer a balance between quality and affordability. They provide a range of features and functionalities without being overly expensive, making them attractive to a wide range of consumers who seek good value for their investment. Additionally, many mid-price hot tubs come equipped with a variety of features such as adjustable jets, LED lighting, ergonomic seating, and energy-efficient components.

North America Hot Tub Market Size, 2021 - 2032 (USD Billion)

North America hot tub market size recorded USD 1.4 billion in 2023, due to various factors such as the desire for relaxation, wellness, and lifestyle enhancement. The culture of leisure and outdoor living prevalent in North America encourages the adoption of hot tubs as part of home entertainment and relaxation. In addition, North America experiences diverse climates, ranging from cold winters in the northern regions to warm summers in the south. Hot tubs are popular in both scenarios, providing warmth during the colder months and serving as refreshing amenities during hot summers. This versatility in usage makes hot tubs attractive to a broader consumer base.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of hot tub reached USD 4.3 billion in 2023 and is set to witness 4% CAGR from 2024 to 2032, owing to the increasing focus on health, wellness, and home leisure activities, leading to growing demand for home relaxation spaces, including hot tubs worldwide.

The above-ground hot tub segment recorded USD 2.2 billion in 2023, due to being more affordable than in-ground models.

North America market reached USD 1.4 billion in 2023, attributed to the desire for relaxation, wellness, and lifestyle enhancement among consumers in the region.

Bullfrog Spas, Canadian Spa UK, CERA Sanitaryware Limited., Freuer Faucets, Jaquar, Kerovit, Kohler Co., LIXIL Corporation, Masco Corporation, Moen Incorporated, Roca Sanitario S.A, Villeroy & Boch AG, and VITRA INTERNATIONAL AG., are some of the major hot tub companies worldwide.

Hot Tub Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 18
  • Tables & Figures: 212
  • Countries covered: 24
  • Pages: 204
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