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With 5.0% CAGR, Sanitary Ware Market Growth to Surpass USD 13,616 million over the forecast period
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The global sanitary ware market is expected to witness significant growth, owing to increase in construction activities and rise in need for commercial and industrial establishments. Increase in urbanization, high disposable incomes, and discretionary spend are expected to drive the sanitary ware market growth. In addition, the emergence of concept bathrooms has supplemented the growth of the sanitary ware industry. This, in turn, has increased the replacement rate of sanitary wares across the globe.
The sanitary ware market is also projected to witness high growth in developing countries, such as India, China, Brazil, and others. In India, the sanitation programs and impetus on construction of toilets through the Swachh Bharat Abhiyaan program have increased the growth and scalability of the sanitary ware industry. In addition, high demand under the aforementioned schemes has largely benefited the sanitary ware industry. The ceramic segment, which holds the major share in the global sanitary ware market, is expected to witness the highest growth in terms of value and volume during the forecast period. Asia-Pacific is also anticipated to witness decent growth during the forecast period. Nonetheless, environmental concerns coupled with stringent regulations related to CO2 emissions are expected to hamper the market development. The supportive government initiatives, such as Pradhan Mantri Awas Yojana (PMAY) and Swachh Bharat Mission for infrastructure development, both in urban and rural areas are expected to offer future opportunities for sanitary ware market growth in developing countries, such as India.
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Key Findings of the Sanitary Ware Market:
The toilet sink/water closet segment was the highest contributor to the global sanitary ware market in 2017 and is projected to grow at a CAGR of 3.5%.
The pedestal segment is the quickest-developing segment enlisting a CAGR of 6.1% during the forecast period.
In 2017, North America accounted for almost 25% of the share in terms of value in the global sanitary ware market and is projected to grow at a CAGR of 4.5%.
In 2017, Asia-Pacific was the top region regarding quality and volume and is projected to grow at an astounding CAGR of 5.9% from 2018 to 2025.
China accounted for the highest sanitary ware market share of approximately 26.2% in the Asia-Pacific region, in 2017.
In 2017, the ceramic segment accounted for 80% of sanitary ware market share and is expected to grow at significant CAGR of 5.4%.
In terms of value, Asia-Pacific, MENA, and South America collectively contributed more than 53% share in the global sanitary ware market in 2017. Some of the key players in the global sanitary ware market are CERA Sanitaryware Limited, Corona, Geberit AG, HSIL Limited, Jaquar Group, Kohler Co., LIXIL Group Corporation, LAUFEN Bathrooms AG, Lecico Egypt, and Roca Sanitario, S.A.
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