Sanitary Ware Market Sales Estimated to Hit USD 52.5 Billion by 2031; Expansion in the Hospitality Sector Gaining Traction: TMR Study
Rise in disposable income and increase in concerns about sanitation and hygiene are projected to offer significant opportunities to market players
Wilmington, Delaware, United States, May 31, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global sanitary ware market stood at US$ 31.7 Bn in 2022 and is expected to reach US$ 52.5 Bn by 2031, expanding at a CAGR of 5.8% between 2023 and 2031. Rise in preference for opulent sanitary ware in developing countries is driving the demand for these products. Market demand for sanitary ware is anticipated to increase in the near future due to growth of the construction industry.
Online distribution channels are expected to witness an increasing amount of demand for sanitary ware products. Market players are projected to uncover attractive growth prospects as disposable income rises and people’s awareness about cleanliness and sanitation increases.
The general public is becoming more interested in high-end and cutting-edge sanitary ware products as a result of higher disposable income and increase in environmental awareness. Manufacturers are providing environmentally-friendly bathroom fixtures to increase market share.
Porcelain is primarily used to make sanitary ware owing to its high chemical resistance and hygienic surface. Sanitary ware items can now be manufactured using alternative materials including plastic, metals, granite, and glass due to advances in science and technology.
Manufacturers of sanitary ware products place a strong emphasis on product innovation and R&D operations to provide specialized solutions to commercial organizations including hospitals, factories, and hotels.
To Remain Ahead of Your Competitors, Request for a Sample: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=53013
Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 31.7 Bn | |
| Estimated Value | US$ 52.5 Mn | |
| Growth Rate – CAGR | 5.8% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 160 Pages | |
| Market Segmentation | Product Type, Technology, End-use, Distribution Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Avicci Ceramics, Eros Sanitaryware, Foster S.p.a., Grohe, Hansgrohe, Jaquar, Kohler India, Laufen, TOTO, Vaal Sanitaryware, Villeroy & Boch | |
Key Findings of Market Report
- Hospitality is one of the largest industries that uses sanitary ware goods. The sanitary ware industry growth is anticipated to be driven by expansion of travel sector, particularly in developing countries.
- Based on product type, the water closets segment is likely to dominate the global market between 2023 and 2031. The kitchen sinks & washbasins segment held second largest share of the global market in 2022. Toilets are crucial pieces of sanitary ware. These are available in various shapes, specs, and designs. The market has witnessed increased demand for wall-mounted and intelligent toilets in the past few years.
- The washbasins & kitchen sinks segment is projected to grow at a steady pace in the next few years. Demand for washbasins & kitchen sinks is high in developing countries such as China, South Africa, Brazil, and India, due to population growth, rising disposable income, and rapid adoption of western lifestyles.
Buy this Premium Research Report | Immediate Delivery Available – https://www.transparencymarketresearch.com/checkout.php?rep_id=53013<ype=S
Global Sanitary Ware Market: Growth Drivers
- Governments of different countries are working to raise minimum requirements for hygiene and sanitation. Sanitary ware can be customized. It is frequently used in commercial settings. Therefore, a spike in infrastructure development expenditure is anticipated to fuel expansion of the sanitary ware market in the next few years.
- Popularity of bathroom accessories is driven by surge in population and higher disposable income in developing countries; and rise in hygiene and sanitation awareness.
Global Sanitary Ware Market: Regional Landscape
- Asia Pacific is anticipated to account for the largest share of the global market between 2023 and 2031. Growth of the tourism industry and higher investment by governments in infrastructure development through expansive programs for affordable housing are expected to boost market development in the region. North America is anticipated to be the second largest market for sanitary ware during the forecast period.
Global Sanitary Ware Market: Key Players
- Eros Sanitaryware
- Villeroy & Boch
- Jaquar
- Kohler India
- Vaal Sanitaryware
- Grohe
Get Customization on this Report for Specific Research Solutions: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=53013
Global Sanitary Ware Market: Segmentation
Product Type
- Washbasins & Kitchen Sinks
- Faucets
- Water Closets
- Cisterns
- Bidets
- Urinals
- Others
Technology
- Slip Casting
- Spagless
- Jiggering
- Pressure Casting
- Isostatic Casting
- Others
End-use
- Residential
- Commercial
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: [email protected]
