Thermostatic Baths Market Size, Share, Growth and Industry Analysis by Type (Small-sized, Medium-sized and, Large-sized), By Application (Research and Industry), Regional Forecast To 2031

Updated On: 08 April 2024

Thermostatic Baths Market REPORT OVERVIEW

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The global thermostatic baths market size was USD 219.2 million in 2022 and market is projected to touch USD 312.04 million by 2031, at a CAGR of 4.0% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Thermostat bath is basically a temperature control equipment which is very indispensable and precise with the readings and the values. This thermal test measurement equipment is primarily used in many devices such as heat resistance equipment, thermometers and others. The most common type of constant temperature baths are water temperature baths and oil temperature baths. They use water and oils as their mediums respectively.

 The new floor heating system has been recognized as the latest trends in the market. Added safety, convenience, energy efficiency and water saving features are the driving factors where as the high installation cost is the restraining factor. They not only save energy but also money and are environment-friendly.

COVID-19 Impact: Disruption and Volatility in Supply Chains Harmed the Market

The COVID-19 pandemic has given many economic backlashes across various markets and industries. The thermostatic baths market was negatively impacted due to interruptions in the supply chains of raw materials as well as the volatility in the supply chain analysis. Apart from this, delays in transportation and delivery also created major roadblocks for product manufacturers and suppliers.

Due to strict protocols introduced by the respective governments, including restrictions on movement and limited workforce capacity, market players were forced to operate at a diminished capacity. Many companies were seen operating at less than half the production capacity compared to pre-pandemic levels. In addition to these factors, the declining demand for thermostatic baths impacted the market outlook amid the pandemic.

LATEST TRENDS

"Growing Application in Floor Heating Systems to Boost Growth"

One major recent innovation that can be witnessed in the thermostatic baths market is the growing implementation in floor heating systems. This technology is rapidly gaining traction in the industry due to improved features and characteristics. The floor heating systems are also called as the radiant floor heating systems. They use thermal radiations that are used to produce heat and warmth, especially during winters.

Powered by thermostatic baths, these heating systems heat the floor up quicker than a traditional radiator. The advantage of using this is that it heats up the floor with controlled temperature just sufficient enough to warm users’ feet up. It does not get too hot at once and the warmth is spread throughout the bathroom evenly. In addition, the technology is more energy efficient and requires very less energy, in turn reducing electric bills. Increasing popularity of floor heating systems owing to benefits such as power cost savings and lower energy consumption will create new opportunities for market players.

Thermostatic Baths Market SEGMENTATION

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• By Size

The market can be divided on the basis of size into small-sized, medium-sized, and large-sized.  The large-sized segment is projected to hold the dominant market share through 2031.

• By Application

Based on application, the market share is bifurcated into research and industry. The research segment will dominate the market in the upcoming years.

DRIVING FACTORS

"Added Safety and Convenience to Propel the Market Growth"

Thermostat baths regulate the shower temperature very effectively. Hence, there are no sudden fluctuations in the temperature of the water. There is neither smoking hot water nor freezing cold water and the water maintains the right temperature. The technology is very useful in those houses where people are always busy and the weather conditions change very often. The temperature of the water is maintained at a consistent level, thereby assuring safety.

Apart from the temperature, the pressure and the spray pattern of the shower can also be adjusted according to user’s preference, which makes it much more convenient and handier to use. Wide-ranging benefits, high safety, and convenience will act as a pivotal driving factor for the thermostatic baths market growth during the forecast period.

"Energy Efficiency and Water Saving Features to Propel the Market Growth"

Thermostatic baths are characterized by high energy efficiency and water saving features. They consume considerably less amount of energy and also are very effective in saving water. This is an added advantage which is driving the technology demand among customers. These baths help users save valuable time since consumers do not need to wait for the water to heat up.  The technology not only helps save time, money and energy, but is also environmental-friendly and causes very less or no pollution at all. The energy consumption is minimized and the output is considerably maximized which makes it a very desirable product. These factors are augmenting the thermostatic baths market share.

RESTRAINING FACTOR

"Expensive Installation and Maintenance Costs to Slow Down the Market Development"

One of the major restraining factors for the market is the high cost of installation and maintenance. Several components used in thermostatic baths are expensive as well. For example, pressure balance valves used in these systems are at least two to three times expensive than the normal valves. These factors might decrease the product adoption among several regions, especially across emerging and low- and middle-income countries.

Apart from this, another disadvantage is that the models might freeze in winter due to extreme cold, especially in snowy regions. Some models might not have a back-flow valve at each and every intake. This can be a big problem sometimes depending on the pressure of the particular system. Such factors could limit the product adoption in the forthcoming years.

Thermostatic Baths Market Regional Insights

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"Europe to Dominate Market Share owing to Increasing Product Adoption"

The region that is observed to lead the market during the research and the forecast period is Europe. Followed by Europe is North-America. Europe accounts for almost more than half of the market share. Many countries in Europe are extremely cold and face sudden climatic changes. Hence there is an increasing need for thermostatic baths in the European countries. This is one major reason why there is a lot of demand for these baths in the region of Europe making it the prime market holder.

North America is expected to be the second largest market owing to the increasing demand for kitchen and bathroom accessories. The increasing awareness of water consumption is also another reason for the growing demand. The increasing middle class population and rising disposable income are anticipated to create robust demand for thermostat baths in the North America regions.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• IKA (Germany)
• JULABO GmbH (Germany)
• Lauda Dr. R. Wobser GmbH & Co. KG (Austria)
• J.P Selecta (U.S.)
• Grant Instruments (U.K.)
• FALC Instruments (U.S.)
• Memmert (Russia)
• Huber (U.S.)
• Fungilab (U.S.)
• PolyScience (U.S.)
• Sheldon Manufacturing (U.S.)

Report Coverage

The report provides an insight into the thermostatic industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations