United States of America Hot Tub Manufacturing Industry: 2015 Trends & Market Research Report from IBISWorld.com
Over the past 4 years, the hot tub and spa industry has taken a significant downfall, yet sales within the upper class bracket, have improved moderately. The reason behind the market fall, can be attributed to the on going United States and world trade recession. Experts predict, that over the next 5 years, the industry projections call for an increase in growth. Due to the recession, the majority of households were forced to cut spending costs, particularly, those expenses that could be considered disposable income.
The USA hot tub manufacturing industry is a relatively small circle, comprised of 4 companies, which make up over 1/3 of the industries reported revenue. Throughout 2014, Jacuzzi Brand Incorporated and Masco Brand Incorporated made up the two dominating enterprises, and are both known to be competing directly with local and regional small scale manufacturing businesses.
Primary Industry Product Classifications:
- Above Ground Hot Tubs
- In Ground Hot Tubs
- Exercise Hot Tubs
- Annual Revenue: $991,000
- Annual Growth: 1.7% (09/2014)
- Employment: 1,514
- Businesses: 47
Read more online here: http://www.ibisworld.com/industry/hot-tub-manufacturing.html