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The bathroom sinks market covers the following areas:
Bathroom sinks market - Driver
The key factor driving growth in the bathroom sinks market is the increase in building refurbishment activities. There is a growing trend of home improvement and repair spending around the world. Construction spending on remodeling activities is witnessing continuous growth in American and European markets. Rising disposable income, coupled with the growing awareness about home décor, is expected to drive renovation and remodeling activities, thereby, fueling the demand for bathroom sinks. Home prices are expected to rise, facilitating an increase in demand for refurbishment services as homeowners often leverage the value of their homes through loans to fund remodeling projects.
Bathroom sinks market - Challenge
Fluctuations in raw material prices will be a major challenge for the bathroom sinks market. Bathroom sinks are typically made up of different materials such as ceramic, concrete, copper, glass, granite, marble, nickel, plastic, polyester, stainless steel, and stone. Most of the raw materials are sourced goods and obtained on the basis of purchase orders. Any change in raw material prices will adversely affect the production cost of bathroom sinks. Fluctuating prices of raw materials such as ceramic, concrete, copper, glass, and steel hinder the growth of the bathroom sinks market. Increment in material costs will lead to a rise in production costs, which, in turn, inflates the price of the equipment.
Bathroom sinks market - Segmentation & Revenue Generating Segment
The Bathroom Sinks Market is segmented by End-user (Residential and Non-residential) and Geography (APAC, North America, Europe, MEA, and South America).
The bathroom sinks market share growth by the residential segment will be significant for revenue generation. The growth in the residential sector growth across the globe is expected to drive the global bathroom sinks market. 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 in its portfolio. In APAC, countries such as India, Indonesia, Singapore, Malaysia, and the Philippines have significantly contributed to the growth of the global bathroom sinks market.
Technavio report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
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Companies Mentioned
The bathroom sinks market is fragmented and the vendors are deploying growth strategies such as focusing on technological advancements and innovations to compete in the market.
- Duravit AG
- Elkay Manufacturing Co.
- FRANKE Holding AG
- HSIL Ltd.
- Jaquar Group
- JOMOO Kitchen and Bath Co. Ltd.
- Kohler Co.
- LIXIL Corp.
- Roca Sanitario SA
- Toto Ltd.
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Bathroom Sinks Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4% |
Market growth 2021-2025 |
USD 1.84 billion |
Market structure |
Fragmented |
YoY growth (%) |
1.45 |
Regional analysis |
APAC, North America, Europe, MEA, and South America |
Performing market contribution |
APAC at 41% |
Key consumer countries |
US, China, UK, France, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Duravit AG, Elkay Manufacturing Co., FRANKE Holding AG, HSIL Ltd., Jaquar Group, JOMOO Kitchen and Bath Co. Ltd., Kohler Co., LIXIL Corp., Roca Sanitario SA, and Toto Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, 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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SOURCE Technavio
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