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The bathroom sinks market is estimated to grow at a CAGR of 4.3% and the size of the market is forecast to increase by USD 2,143.25 million between 2022 and 2027.The growth of the market depends on several factors, including the increase in building refurbishment activities, the growing mixed-use development, and the growing consciousness toward hygiene.
This report extensively covers market segmentation by application (residential and non-residential), distribution channel (offline and online), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Technavio categorizes the global bathroom sinks market as a part of the global building products market. Technavio calculates the global building products market size based on combined revenue generated by manufacturers of building and home improvement products and equipment. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The increase in building refurbishment activities is notably driving the market growth, although factors such as fluctuations in raw material prices may impede the market growth. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a decrease in demand for the market during the COVID-19 pandemic, a holistic analysis of drivers will help companies refine marketing strategies to gain a competitive advantage.
Key Bathroom Sinks Market Driver
The global bathroom sinks market is driven by the increase in building refurbishment activities. The trend of home improvement and repair spending is growing worldwide, and construction spending on remodeling activities is on the rise in North America and European countries. Rising disposable income and awareness about home decor are driving renovation and remodeling activities, fueling the demand for bathroom sinks. Additionally, as housing prices are expected to rise, demand for refurbishment services will increase, and homeowners will invest in improving their homes, which will in turn strengthen the demand for bathroom sinks. Regular refurbishment investments in housing stocks across the globe are also expected to boost the market's growth.
Key Bathroom Sinks Market Trend
The growing trend of semi-recessed sinks is expected to fuel the global bathroom sinks market growth. Semi-recessed sinks are a popular trend in the bathroom sink industry as they combine the convenience of an undermount sink and the modern look of a vessel sink. They also provide more vanity space by slightly overhanging the counter, making it easy for children to use and saving space in smaller bathrooms. The demand for space-saving sinks in urban areas is driving the growth of semi-recessed sinks and the market is expected to grow during the forecast period.v
Key Bathroom Sinks Market Challenge
The fluctuation in raw material prices is a major challenge to the global bathroom sink market growth. Bathroom sinks are made from a variety of materials such as ceramic, concrete, copper, glass, granite, marble, nickel, plastic, polyester, stainless steel, and stone, and vendors in the bathroom sinks market rely on third-party manufacturers to source the finished product. However, when prices of raw materials fluctuate, it increases the production costs and ultimately the price of bathroom sinks, affecting vendors' profit margins. This can lead to a reduction in sales and negatively impact market growth.
Key Bathroom Sinks Market Customer Landscape
Our analysis of the Life Cycle of the market indicates a movement from the innovator’s stage to the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries including the US, China, India, Germany, and the UK. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.
Global Bathroom Sinks Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market
my-bette.com - The company offers bathroom sinks such as built-in washbasins, countertop washbasins, and rectangular washbasins. Also, through this segment, the company offers bathtubs, shower trays, vanity units, and equipment.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including :
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the residential segment will be significant during the forecast period. The growth in the housing sector across the globe is expected to drive the market. The growth of the residential sector is directly influenced by population growth and urbanization. APAC and North America are experiencing huge growth in the residential sector.
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The residential segment showed a gradual increase in market share with USD 4,816.76 million in 2017 and continued to grow by 2021. The housing sector in the US is showing signs of a strong recovery post the economic slowdown. On the other hand, APAC has the maximum number of emerging economies. Countries such as China, India, and Indonesia are expected to witness the highest growth in the residential construction sector during the forecast period. Furthermore, our report provides a brief analysis of the historical and forecast market share and their segments along with the reasons for growth from 2017 to 2027.
The growth of this segment is primarily attributed to the increasing adoption of bathroom sinks by residential consumers, which is driven by an increase in the global demand for the Bathroom Sinks Industry.
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APAC is projected to contribute 41% of market growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The growth of the market in APAC is majorly attributed to the growing construction activity in emerging countries. The construction market is expected to grow steadily during the forecast period and create the demand for new residential and commercial spaces to cater to the needs of the rising population. Emerging economies are experiencing huge growth in both commercial and residential construction activities. The major objective of smart cities is to develop infrastructure that is sustainable and environment-friendly. Countries like Indonesia are expected to spur the sales of bathroom sinks owing to the growing residential sector, increasing investments in infrastructure, and continuous implementation of policy reforms to spur private investments in the construction sector.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The outbreak of COVID-19 led to a decline in the demand for bathroom sinks in APAC. In 2020 and 2021, the COVID-19 outbreak severely impacted APAC, particularly in India and China. The rising number of deaths associated with COVID-19 resulted in the imposition of nationwide lockdowns in countries such as China, India, and Japan, primarily during 2020 and H1 2021. As a result, several non-essential product-manufacturing units were closed. This adversely impacted the growth of the market in APAC in 2020 and the first half of 2021. However, in 2021, APAC witnessed a decline in the number of COVID-19 cases due to the availability and administration of vaccines. Hence, there has been a rise in residential construction in APAC since the second half of 2021 and in 2022, which will lead to the gradual growth of the market in APAC during the forecast period.
Our report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by application, distribution channel, and region.
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Bathroom Sinks Market Scope |
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Report Coverage |
Details |
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Page number |
154 |
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Base year |
2022 |
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Historical year |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.3% |
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Market growth 2023-2027 |
USD 2143.25 million |
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Market structure |
Fragmented |
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YoY growth (%) |
3.2 |
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Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
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Performing market contribution |
APAC at 41% |
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Key consumer countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
BETTE GmbH & Co. KG, CERA Sanitaryware Ltd., Duravit AG, FRANKE Holding AG, Herbeau Creations of America, HSIL Ltd, JOMOO Kitchen & Bath Co. Ltd., Kohler Co., LAUFEN Bathrooms AG, LIXIL Corp., RAK Ceramics PJSC, Roca Corporacion Empresarial SA, Scandtap AB, Simas Spa, Sonet Sanitarywares, Stone Forest Inc., The Jaquar Group, Toto Ltd., Victorian Bathrooms, and Zurn Water Solutions Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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