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The kitchen sinks market size is estimated to increase by USD 950.90 million, growing at a CAGR of 4.93% between 2023 and 2028. The market is experiencing significant growth, driven by the expanding residential building construction sector and the emerging trend towards semi-recessed sinks. The global residential construction market is on an upward trajectory, fueling the demand for kitchen sinks and residential plumbing. Additionally, the preference for semi-recessed sinks is increasing due to their sleek design and space-saving features. However, the market is not without challenges. The material used in sinks, including stainless steel and granite, plays a significant role in the market's expansion. Fluctuations in raw material prices pose a significant threat to the market's stability, as sink manufacturers must balance production costs with consumer affordability. Despite these challenges, the kitchen sink market is expected to continue growing, driven by these and other trends.
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The kitchen sinks market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The residential segment is estimated to witness significant growth during the forecast period. Growth in the residential sector is directly impacted by population growth and rapid urbanization. The residential real estate sector in APAC and North America is experiencing strong growth. The US residential construction sector is showing signs of a strong recovery from the economic downturn. On the other hand, the APAC region has the largest number of developing countries. Countries such as China, India, and Indonesia are expected to show the highest growth in residential construction in the future.
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The residential segment was the largest segment and was valued at USD 1.52 billion in 2018. Due to the demand for luxury corporate suites, serviced apartment owners want the look of luxury kitchens and modular kitchens with kitchen sinks. Companies in the global kitchen sink market are introducing their products based on market demand. Schock GmbH (Schock) offers granite sinks with an attractive appearance under the brand names Cristadur and Cristalite, which are very popular with serviced apartment end-users. Hence, this expected growth of the residential sector will raise the demand for the global market during the forecast period.
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North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In North America, the US is the major market for kitchen sink manufacturing, and the increasing number of residential construction activities is one of the key factors driving the growth of this segment. The demand is expected to increase in North America due to the increase in residential houses. The US restaurant industry is expected to reach USD 899 billion by the end of 2022. The growth of the North American restaurant industry is expected to increase the demand for various types such as dual-compartment and kitchen sinks with a garbage separator. These factors are driving the growth of the regional kitchen sink market. In addition, the US, Canada, and Mexico are the three main countries that are expected to support the growth of the construction equipment market, which, in turn, will boost the demand for the market in the region during the forecast period.
The market encompasses innovative sinks designed for both Commercial and Household kitchens. Restaurants and well-equipped hotels & restaurants drive the demand for commercial kitchen sinks, while consumer disposable income influences the growth of household kitchen sinks. Premium kitchen fixtures, such as those from Moen, continue to dominate the market for motion sensor faucets and modular kitchens. The number of households and consumer expenditure on home improvement projects contribute to the market's growth. Functionality and smart features, like motion-activated sinks, are becoming increasingly popular. Installation and maintenance costs are key considerations for consumers. Global expansion and the rise of smart & modular kitchens in hotels are also significant trends. The plumbing fixture industry's continuous innovation and development further propel the kitchen sinks market forward. In well-equipped smart and modular kitchens, motion sensor faucets powered by Internet of Things (IoT) technology seamlessly integrate with home decor and accessories, such as bowls, to enhance both functionality and style.
The growing global residential building construction market is one of the key factors driving the growth of the global kitchen sinks market. The global residential building construction market is expected to grow rapidly. APAC is a major contributor to the global residential building construction market due to rising urbanization and growing disposable income. As houses are considered long-term assets, people started investing in them to secure the future. Significantly, house owners can rent the house as rent is a non-detectible expense. This, in turn, will drive kitchen sinks market growth in the future.
However, the most popular kitchen sink in general households is a stainless steel one-bowl sink with a drainer. Handcrafted kitchen sinks made of fireclay, on the other hand, are used in luxury home construction. Handcrafted kitchen sinks are more expensive than traditional stainless steel sinks.
The emerging growth of semi-recessed sinks is one of the key market trends contributing to the market growth. Semi-recessed sinks combine the convenient features of an under mount sink and the contemporary appearance of a kitchen sink. Semi-recessed sinks are designed to save space on kitchen counters. Semi-recessed sinks appear unique as they partially protrude from the surface where they are placed.
Moreover, it is easy to clean the surrounding area of these sinks and under the sinks because of this feature. These sinks occupy less space compared with the other types of products, such as countertop basins. Thus, such advantages will boost kitchen sinks market growth during the forecast period.
Fluctuations in raw material prices are the major challenges that affect the growth of the kitchen sink market. They are typically made of materials such as ceramic, concrete, copper, glass, granite, marble, nickel, plastic, polyester, stainless steel, and stone. They are typically available in a wide range of styles, colors, and finishes to meet the needs of different customers. Most raw materials are sourced goods that are obtained on the basis of purchase orders. Any change in raw material prices will adversely affect the production cost.
Further, an increment in material costs will lead to a rise in production costs, which can inflate the price. High prices of materials lead to a reduction in sales, thus affecting the profit margins of vendors. In addition, the necessity for constant maintenance and support increases the overall cost of ownership, thus reducing the profit margins of market players. Hence, these factors can impede the growth of the market during the forecast period.
The kitchen sinks market research report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the kitchen sinks market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
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.
Acrysil Ltd.: The company offers kitchen sinks such as granite sinks, enigma n 200, and magic salsa 1816.
The kitchen sinks market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative 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 kitchen sinks market is witnessing significant growth due to the increasing demand for well-equipped kitchens in both household and commercial sectors. Commercial kitchens in restaurants, cafes, hotels, and food service units are investing in premium kitchen fixtures, including innovative sinks and commercial kitchen ventilation systems, to enhance functionality and efficiency. Innovative sinks, such as quartz and granite, are gaining popularity in household kitchens due to their durability and aesthetic appeal. Consumer disposable income and consumer expenditure on home improvement projects are key drivers for the growth of the kitchen sinks market. Modern kitchen sinks come with advanced features like motion sensor faucets, touchless faucets, and soap dispensers, making them time-saving and convenient for consumers. The market is also witnessing a trend towards motion-activated sinks and trash collection systems, which add to the overall functionality of the kitchen.
Further, the rapid urbanization and tourism industries are contributing to the growth of the kitchen sinks market, particularly in commercial properties. Food delivery channels and cloud kitchens are also driving demand for innovative sink solutions that cater to the unique requirements of these businesses. The kitchen sinks market is expected to grow further due to the increasing focus on water conservation and space availability in both household and commercial kitchens. Brands are introducing new shapes, materials, and technologies to cater to the evolving needs of consumers and businesses. Overall, the kitchen sinks market is poised for growth, driven by the increasing demand for well-equipped kitchens, consumer income levels, and the availability of innovative sink solutions.
Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.93% |
Market growth 2024-2028 |
USD 950.9 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.61 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 34% |
Key countries |
US, UK, China, Germany, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Azuga Inc., BLANCO GmbH and Co. KG, Dornbracht AG and Co. KG, Elkay Manufacturing Co., Fletcher Building Ltd., Fortune Brands Innovations Inc., FRANKE Holding AG, Futura Kitchen sinks Ind Pvt Ltd., JOMOO Kitchen and Bath Co. Ltd., JULIEN Inc., Kohler Co., Kovinoplastika Loz d.o.o., Kraus USA Inc., Roca Sanitario SA, Ruvati, Schock GmbH, TEKA INDUSTRIAL SA, VIGO INDUSTRIES LLC, Whitehaus Collection, and Zuhne LLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Material
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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