$1.1bn
$XX.Xm
4,314
56
$XXX.Xm
Solid construction activity and increased disposable income over most of the five years to 2023 have resulted in rising revenue for hot tub manufacturers. Since hot tubs and spas are highly discretionary luxury goods, demand primarily depends on consumer confidence and per capita disposable income. Rising disposable income is significant for the industry, particularly as households wishing to remodel their existing homes remain the largest market for hot tubs and whirlpool baths. However, residential new construction and commercial clients, like fitness clubs, resorts, and massage centers, also represent important markets for the industry. Industry revenue is estimated to rise at a CAGR of 1.7% to $1.1 billion over the five years to 2023, despite a decrease of 0.5% in 2023 alone.More prominent manufacturers with well-known brand names and higher production capacities have consolidated operations to expand their product lines and distribution capabilities. As a result, industry participation has declined significantly in recent years, with the number of enterprises falling at a CAGR of 1.3% to 57 companies over the five years to 2023. The industry's efforts to lower prices and sustain demand have helped industry revenue increase overall. Moreover, increased demand fueled by new residential construction has been chiefly driven by improvements in consumer confidence and increased demand from households earning more than $100,000. Nonetheless, rising input costs and costs related to mitigating COVID-19 have eroded profit margins.Over the five years to 2028, the industry is projected to continue to experience growth, albeit at a slower rate than the previous period. Overall, disposable income and consumer confidence are anticipated to rise, stimulating a new wave of hot tub purchases. Furthermore, households earning more than $100,000 annually are anticipated to increase over the coming years. However, spending on home improvements is expected to decline modestly. In contrast, plastic materials and resin prices are expected to rise during the outlook period, further decelerating demand for industry products. Overall, IBISWorld estimates that industry revenue will increase at a CAGR of 1.1% to $1.2 billion over the five years to 2028.
Industry revenue has grown at a CAGR of 1.9 % over the past five years, to reach an estimated $1.1bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Masco Corporation | 298.8 | 56.8 | 19.0 | |
Jacuzzi Brands Llc | 261.6 | 16.7 | 6.4 |
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Industry revenue is measured across several distinct product and services lines, including Hot tubs, Other whirlpool baths and Fiberglass whirlpool baths. Hot tubs is the largest segment of the Hot Tub Manufacturing in the US.
Hot tubs are a popular choice for those looking for relaxation and stress relief
This industry manufactures hot tubs, spas and whirlpools made from nonceramic materials (e.g. fiberglass or acrylic). A hot tub is a large tub or small pool full of heated water that is used for soaking, relaxation, massages or hydrotherapy. In most cases, they have jets for massage purposes.
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NAICS 32619 - Hot Tub Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Consumers are increasingly looking for eco-friendly, energy-efficient hot tubs that can help them save money on their energy bills. As a result, hot tub manufacturers are inv...
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Hot tubs are seen as stress relieving and promoting relaxation, further contributing to their growing popularity. According to data from the Pool & Hot Tub Alliance, hot tub ...
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Access to transportation, climate, and proximity to customers benefit manufacturers. Hot tubs tend to be low-volume, high-value items requiring special packaging and transpor...
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One of the most obvious ways hot tub manufacturers compete is on price. Companies may offer discounts, promotions, or special financing options to make their products more af...
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Cal Spas, which is now owned by Trilantic North America, produces a range of hot tubs, swim spas, and other outdoor leisure products. Their hot tubs are known for their quali...
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Hot tub manufacturers don’t receive direct government assistance. Private associations set standards and provide education through certification programs.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Rising input prices have limited profitability. The price of plastic materials and resin has increased in recent years, cutting into profit for manufacturers.
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Hot Tub Manufacturing in the US industry in United States is $1.1bn in 2024.
There are 56 businesses in the Hot Tub Manufacturing in the US industry in United States, which has declined at a CAGR of 1.4 % between 2019 and 2024.
The market size of the Hot Tub Manufacturing in the US industry in United States has been growing at a CAGR of 1.9 % between 2019 and 2024.
Over the next five years, the Hot Tub Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Hot Tub Manufacturing market in United States are Masco Corporation and Jacuzzi Brands Llc
Hot tubs and Other whirlpool baths are part of the Hot Tub Manufacturing in the US industry.
The company holding the most market share in United States is Masco Corporation.
The level of competition is high and steady in the Hot Tub Manufacturing in the US industry in United States.