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The bathroom sinks market size is forecast to increase by USD 2,143.25 million, at a CAGR of 4.3% between 2023 and 2028.
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. 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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The increase in building refurbishment activities is notably driving the market, although factors such as fluctuations in raw material prices may impede the market. 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.
The global 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 wash basin. 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 wash basin. Regular refurbishment investments in housing stocks across the globe are also expected to boost the market's growth.
The growing trend of semi-recessed sinks is expected to fuel the global market. 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 semi-recessed sinks and the market is expected to grow during the forecast period.v
The fluctuation in raw material prices is a major challenge to the global market. 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 companies in the 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 wash basin, affecting companies' profit margins. This can lead to a reduction in sales and negatively impact the market.
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 Market Customer Landscape
Companies 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 wash basin 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 companies, including :
Qualitative and quantitative market growth analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies 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 wash basin by residential consumers, which is driven by an increase in the global demand for the 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 wash basin owing to the growing residential sector, increasing investments in infrastructure, and continuous implementation of policy reforms to spur private investments in the construction sector.
Our report forecasts revenue growth at global, regional & country levels and provides a market research and growth analysis of the latest market trends and growth opportunities from 2017 to 2027.
The market is witnessing a dynamic transformation with innovations in materials such as wood and metal, offering a variety of designs and styles that enhance the beauty of bathrooms. As an integral part of day-to-day life, wash basin are evolving to meet the diverse needs of the construction industry. Residential homes, sanitation facilities, and commercial spaces like health care, educational institutions, and transportation facilities are incorporating ergonomic designs.
Rapid urbanization and residential development projects drive the demand for wash basin, attracting professional builders and constructors. Key players in the market focus on the research and development process to introduce innovative and scratch-resistant products, effectively resisting stains and dirt. The market caters to the evolving needs of smart homes, competing with rival products through glossy finishes and aesthetic appeal.In the hospitality sector, hotels and mega resorts choose premium services, utilizing wash basin with a stylish appearance. The use of natural marble and hand-carved marble further enhances the luxurious ambiance, making hotel bathrooms a symbol of elegance. The market continues to thrive on the seamless integration of functionality and style, providing consumers with diverse options for a personalized and visually appealing experience.
Bathroom Sinks Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2022 |
Historical year |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.3% |
Market growth 2023-2027 |
USD 2143.25 million |
Market structure |
Fragmented |
YoY growth (%) |
3.2 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 41% |
Key consumer countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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. |
Market dynamics |
Parent market analysis, Market forecasting, 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. |
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. |
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