Vietnam Sanitary Ware & Bathroom Accessories Market to Exhibit CAGR of 6.4% during 2018 to 2025
Emergence of concept bathrooms and rise in construction activities in Vietnam spur the growth of the Vietnam sanitary ware & bathroom accessories market. On the other hand, environmental concerns coupled with stringent regulations check the growth to some extent. Nevertheless, different prospects to expand business on online platform have created lucrative opportunities in the industry.
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oThe toilet/water closets segment to lead the trail till 2025-
Based on product type, the toilet/water closets segment accounted for nearly one-third of the total market share in 2017 and is expected to dominate throughout the study period. The wash basins segment, on the other hand, is projected to grow at the fastest CAGR of 8.2% by 2025.
oThe ceramics segment garnered the lion's share in 2017-
Based on material, the ceramics segment contributed to more than three-fourths of the total market revenue in 2017 and is anticipated to retain its dominance through 2018-2025. The same segment is also predicted to showcase the fastest CAGR of 6.8% during the estimated period.
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oFrontrunners in the industry-
The key players analyzed in the report include Gessi SpA, Jaquar Group, Innoci Vietnam, Thien Thanh Sanitaryware Joint Stock Company (Thien Thanh), LIXIL Group, Roca Sanitario, S.A., TOTO Ltd., Viglacera Corporation, Italisa (Vietnam) Co. Ltd., and CAESAR Bathroom. These players have incorporated a number of exclusive strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others to maintain their strong stand in the market.
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