Kitchen Sinks Market Size and Share by 2030 with 4.2% CAGR

Growth of the construction industry is boosting the demand for kitchen sinks. Rising health concerns have also pushed the demand for kitchen sinks, as many consumers now prefer cooking at home. From traditional old kitchen sinks to the development of new modern kitchen sinks, the demand for modular kitchens is growing in residential apartments. The desire of having a more attractive house has led to the need for innovative sinks. Rising number of small restaurants and hotels across the world, and growing tourism industry is considerably increasing the demand for better looking kitchen sinks. Dual sinks is a growing trend in modern kitchens, as they allow multitasking.

On the back of these factors, the global kitchen sink market is projected to reach a valuation of US$ 5 Bn by the end of 2030, expanding at a CAGR of 4% over the forecast period of 2020 to 2030.

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Key Takeaways of Global Kitchen Sink Market Study

Europe is expected to remain prominent in the global kitchen sink market, as the number of nuclear families and construction & renovation projects are growing rapidly.
Innovative and technological advancements are boosting the demand for new types of kitchen sinks. Due to the outbreak of COVID-19, there has been a high impact on the construction industry, and as a result, the kitchen sink market space is facing various challenges.
Companies are significantly offering a wide variety of kitchen sinks. The innovation of dual sinks and three-bowl sinks is a fresh trend, and this is likely to continue through the course of the forecast period.
"The outbreak of the coronavirus pandemic and resultant quarantine measures taken by government bodies across the globe has drastically impacted the manufacturing and service industry. Due to this, the supply chain of kitchen sink products has also been disrupted, worldwide. Most construction sites have also been shut. As a result, there has been a slight decline in the demand for kitchen sinks, which is expected to get better with the easing of lockdowns over time," says a PMR analyst.

Increasing e-Commerce Penetration Leading to Higher Customer Engagement

Increasing penetration of e-Commerce for selling various products across the world is surge the growth of B2C businesses in the consumer goods sector. Over the last few years, consumer behavior has considerably changed, and they are searching as well as purchasing various products, such as kitchen sinks, through various online platforms. Rising Internet penetration and adoption of e-Commerce are factors expected to fuel the revenue growth of the market, owing to the growing number of customers using digital technology and purchasing various products online.

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In order to capitalize on young adults that are tech-savvy, players in the kitchen sink market are engaging with them through social media and other digital platforms, to market and sell their products and increase their market share.

Kitchen Sink Market: Key Players

PMR's report underlines groundbreaking insights into the competitive scenario of the kitchen sink market, along with highlights of differential strategies used by manufacturers. Some of the prominent players in the global kitchen sink market include Moen Incorporated, Franke Management, Elkay manufacturing company, BLANCO America Inc., Teka Industrial group Kitchen and Bath, Oulin Pakistan, Kohler Co., Jomoo Kitchen & Bath Co., Primy Corporation Ltd.,  Franke Kindre Canada Ltd., Bonke Kitchen & Sanitary Industrial Co. Ltd., and others.

More Valuable Insights on Kitchen Sink Market

Persistence Market Research released a new market research on the kitchen sink market, covering global industry analysis of 2015-2019 and forecasts for 2020-2030. The kitchen sink market study reveals compelling insights on the basis of product (drop-in/ top mount, and pedestal, undermount, wallmount, and other product types}, material {fireclay, stainless steel, cast iron, copper, quartz, and others}, application {single, double, and triple}, end user (residential and commercial), and sales channel (direct and indirect {multi-brand stores, franchise stores, specialized stores, online retailers, modern trade, departmental stores}), across seven major regions.

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This release was published on openPR.