NEW YORK, Dec. 16, 2015 /PRNewwire/ -- Market outlook of the wash basin market
Technavio's research analysts predict the global wash basin market to grow at a CAGR of around 9% during the forecast period. The growing infrastructure development in sectors such as water, power, and transportation due to increasing urbanization across the world is the primary growth driver for this market. Demographic changes like aging population influence the type and amount of spending on infrastructure. For instance, aging population in Western Europe and Japan is increasing the number of healthcare facilities in these countries. The development in these sectors is boosting the demand for wash basins as hygiene is an important consideration for urban development.
On an average, nearly five gallons of water is used with each flush in water closets. To avoid wastage, consumers prefer integrating wash basins with water closets (WCs). This integration is anticipated to aid the market growth during the forecast period. This concept was introduced by Caroma, an Australian manufacturer of commercial and residential bathroom products, and was modified by Roca, a Spanish manufacturer of bathroom products.
Geographical segmentation and analysis of the wash basin market
APAC accounted for 45% of the market share during 2015 and is expected to grow at a CAGR of nearly 10% during the forecast period. The increase in urban population in this region has resulted in traffic congestion and a shortage of housing. To cater to these needs, countries in the region are extensively focusing on urban development that would drive the wash basin market over the next four years. For instance, the Indian government has planned to invest $650 billion in the development of urban infrastructure in the country between 2015 and 2035.
Competitive landscape and key vendors
The growth of the construction market globally is playing a vital role in the growth of the wash basin market globally. During 2015, Asia was the major revenue contributor due to the increased infrastructural development in the region. Vendors are also investing in designing, planning, developing, branding, expanding existing facilities, and acquiring new players in the market.
The leading vendors in the market are -
The other prominent vendors in the market include Duratex, HSIL, Lixil Group, Roca Sanitario, Villeroy & Boch, Burgbad, Drummonds, MAAX Bath, Kaies Sanitary Ware, and Eczac?bas? (Vitra).
Key questions answered in the report include
• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global wash basin market?
• What are the key market trends impacting the growth of wash basin market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the vendors in the global wash basin market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the wash basin market?
Technavio also offers customization on reports based on specific client requirement.
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