Bathroom Sinks Market size to increase by USD 2.14 billion from 2022 to 2027, Increase in building refurbishment activities to boost the market growth, Technavio

NEW YORK, Feb. 26, 2024 /PRNewswire/ -- The bathroom sinks market size is forecasted to increase by USD 2,143.25 million from 2022 to 2027, at a CAGR of 4.3%, according to the recent market study by Technavio. The global market is experiencing a growth in building refurbishment, especially in North America and Europe, driven by increased spending on home improvement and renovation projects. Rising disposable income and growing awareness of home decor are key factors propelling this trend, resulting in heightened demand for wash basins. With housing prices projected to rise, there's a growing need for refurbishment services, leading homeowners to invest in enhancing their properties, thereby bolstering the demand for wash basins. Ongoing investments in housing stocks globally are further expected to contribute to market growth. Download the sample report

Technavio categorizes the global bathroom sinks market as a part of the building products market, which covers companies engaged in the production of building components such as windows and doors, flooring, ceiling and wall fixtures, roofing and gutter materials, insulation materials, cabinets, plumbing fixtures, and home improvement products and equipment. Technavio calculates the size of the global building products market based on the combined revenue generated by manufacturers of building and home improvement products and equipment. Charts and data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download the sample report

Technavio has extensively analyzed 15 major vendors, including 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.

Key benefits for Companies

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors 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. Expand operations in future - To get requisite details, ask for a custom report.

Customer landscape

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, purchase is a key cost to buyers, and quality is not important), which range between NEUTRAL and HIGH.
• Furthermore, market adoption rates for all regions have been covered. Download the sample to get a holistic overview of the bathroom sinks market by industry experts to evaluate and develop growth strategies.

Segmentation by application (inclusion/exclusion)

• Inclusion: 
• Residential:

The residential segment grew gradually from USD 4,816.76 million between 2017 and 2021. During the forecast period, the growth of this segment will be driven by the rise in population and rapid urbanization. Emerging economies are expected to witness high growth in the residential construction sector. Hence, governments of such countries are investing significantly in residential construction. These factors will contribute to the growth of the residential segment of the global bathroom sinks market during the forecast period. To get detailed insights about inclusions and exclusions, buy the report.

Analyst Review

The market is a dynamic sector influenced by various factors such as ceramic, stone, glass, wood, and metal materials, catering to diverse consumer preferences. With rising disposable income and urbanization, demand for home improvement and hygiene-conscious fixtures like bathroom sinks is escalating. The construction industry plays a pivotal role, with housing units and building constructions driving the market. Building permits and housing starts indicate growth prospects, while completed building constructions reflect market performance. Manufacturers strive to blend aesthetics with functionality to meet evolving demands. Understanding market trends and demand, stakeholders navigate challenges and capitalize on opportunities in the competitive landscape of the Bathroom Sinks Market.

The Bathroom Sinks Market is experiencing significant growth driven by trends in home furnishings and home improvement. With the construction industry booming, both residential and commercial construction sectors are witnessing a surge in renovation activities. Fluctuating raw material prices pose challenges, but technological advancements offer solutions like touchless operation and LED lighting. Innovations such as low-flow faucets, aerators, and temperature control features cater to environmentally conscious consumers. Water purification systems ensure clean water usage, while smart technology enhances user experience. Market dynamics are influenced by material, application, and regional trends, particularly in the rapidly developing Asia Pacific region. As demand surges, the bathroom sinks market embraces advancements to meet evolving consumer preferences.

Urbanization continues to be a significant factor propelling the bathroom sinks market forward. As cities expand, demand for housing and infrastructure rises, leading to increased installations of bathroom sinks. Competitive analysis reveals a dynamic landscape with key players vying for market share through mergers, partnerships, and innovative product development. Mergers consolidate market presence, while partnerships foster strategic alliances for mutual growth. Key players invest heavily in product development, introducing stylish designs and eco-friendly features to meet evolving consumer preferences. Amidst these strategies, the bathroom sinks market remains vibrant, driven by the interplay of urbanization, competitive dynamics, and innovation. Download the sample

Related reports -

Plumbing fixtures and fittings market by application, distribution channel, and geography - Forecast and analysis 2023-2027 – size is estimated to increase by USD 40.97 billion from 2022 to 2027, with an accelerated CAGR of 7%, according to the recent market study by Technavio. 

Residential digital faucets market by type and geography - Forecast and analysis 2022-2026 – size is estimated to increase by USD 1.99 billion from 2021 to 2026, with an accelerated CAGR of 6.5%, according to the recent market study by Technavio.

Table of contents

1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio