Rise in disposable income, increase in awareness about health, changing lifestyle of individuals, and rapid technological advancements are factors expected to drive the global hot tub market. Manufacturers are focusing on launching innovative hot tubs with energy-efficient features. Multi-functionality of hot tubs is another factor anticipated to boost the hot tub market. Multi-functional hot tubs provide more space for swimming and workout compared to rectangular hot tubs. These features are propelling the demand for solar hot tubs across the world. Rapid urbanization is also estimated to drive the global hot tub market during the forecast period. However, fluctuation in prices of raw materials is projected to hamper the market during the forecast period.
The global hot tub market can be segmented based on product, capacity, installation area, end-user, water capacity, and geography. In terms of product, the hot hub market can be bifurcated into portable hot tubs and fixed hot tubs. Based on capacity, the market can be classified into two person capacity, three person capacity, four person capacity, five person capacity, nine person capacity, and more than nine person capacity. In terms of water capacity, the market can be divided into less than 700 liters, 700 liters–900 liters, 900–1600 liters, 1600 liters–2500 liters, 2500 liters–7000 liters, and more than 7000 liters. Based on end-user, the hot tub market can be segregated into residential and commercial. The commercial segment includes hotels, spas and salons, and other commercial end-users. Under the end use segment commercial segment is expected to grow a faster rate during the forecast period. As rapid growth in hotel and salon & SPA industry is the key factor of accelerating the global hot tub market during the forecast period. In terms of installation area, the market can be split into indoor and outdoor.
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Based on geography, the global hot tub market can be divided into Asia Pacific, North America, Middle East & Africa, Europe, and South America. North America is estimated to account for key share of the hot tub market during the forecast period. North America is also projected to constitute significant share of the market during the forecast period, as large numbers of established small-, mid-, and large-sized hot tub manufacturers operate in the region. Asia Pacific is likely to be a rapidly growing region of the market, followed by Europe and North America, during the forecast period.
Major players operating in the hot tub market include Bullfrog Spas, Canadian Spa Company, Jacuzzi, Artesian Spas, MARQUIS Corp, Coast Spas, Blue Falls Manufacturing, CalderaSpas, Premium Leisure, Nordic Products, Atera AnyTemp, Cal Spas, SPA Manufacturers, Inc., PDC Spas, Spa & Tub Manufacturers, Inc, Coast Spas Manufacturing Inc., Master Spas, Inc., and ThermoSpas Hot Tub Products, Inc., The Great Escape, Olympic Hot Tub, Georgia Spa, Riptide Pools Ltd., Hot Spring Spas, and other hot tubs manufacture are planning to enter into the global hot tub market.
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