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Sanitary Ware Market on the Rise: In-Depth Analysis of Market Segments, Driving Factors, and Competitive Insights Points to Significant Growth
Sanitary Ware Market
As per the report, the sanitary ware market size has grown strongly in recent years. It will grow from $38.76 billion in 2023 to $40.89 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The sanitary ware market size is expected to see strong growth in the next few years. It will grow to $50.81 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.
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Construction Industry Surge Propels Growth In The Sanitary Ware Market
The growth of the construction industry is expected to propel the growth of the sanitary ware market going forward. The construction industry refers to the industrial branch of manufacturing and trade-related activities, including building, repairing, renovating, and maintaining infrastructure. The construction industry requires sanitary ware in larger quantities to be installed in all the bathrooms' infrastructure; as a result, the rising construction activities increase the demand for sanitary ware. For instance, In June 2021, according to a report published by Canada's national statistical agency, the investment in building construction increased from $14294 million in April 2019 to $19273 million in 2020. Furthermore, in the 2022 U.S. Construction Cost Trends report, there is a rise in residential construction, which will continue to drive up demand for materials and labor, escalating competition, and cost pressures. In the U.S., total construction spending has increased by 16% since the pandemic's onset. Therefore, the growth of the construction industry drives the sanitary ware market.
Technological Trends Transforming Sanitary Ware Market
Technological advancements are a key trend gaining popularity in the sanitary ware market. Touchless technology is the latest trend in the sanitary ware market, as it provides safer toilets and bathrooms. For instance, in February 2021, Parryware, an India-based sanitary ware manufacturer, launched the Verve anti-microbial range of water closets and touchless faucet product ranges. These are designed with touchless advanced technology to reduce the growth of microorganisms on product surfaces and help customers keep their bathroom space safe and hygienic.
The sanitary ware market covered in this report is segmented -
1) By Type: Toilets, Washbasins, Urinals, Cisterns, Other Products
2) By Materials: Ceramic, Pressed metal, Acrylic plastics and Perspex, Other Materials
3) By Technologies: Slip Casting, Pressure Casting, Tape Casting, Isostatic Casting
4) By Sales Channels: Retail, Wholesale
5) By End-Users: Commercial, Residential
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Major companies operating in the sanitary ware market report are LIXIL Group Corporation, Kohler Co, TOTO, American Standard, Roca Corporación Empresarial, Grohe, Elkay, Moen Incorporated, Villeroy & Boch, Jaquar & Company Private Limited, Duravit AG, Delta Faucet, Pfister Faucets, Gessi S.p.A., Niagara Conservation, Cera Sanitaryware Ltd., Sloan Valve Company, Gala Group, Weiser Lock Corp, Artedona, SFA Saniflo, Cifial, The Jaquar Group, INAX Inamoto Corporation, L.D. Kichler Co, Inc., Acquaflore, DAB, Deltano, Della Toscana, Geber, Glacéau, Dome, Hansgrohe SE, Heritage Bathrooms, Hydro Systems, Ideal Standard, Orans Co, Shanghai Hengjie Sanitary Wares Co, Ltd., Antolina, Brondi, Hagerty Inc., Flomatic, Fiat Lucchini
Contents of the report:
1. Executive Summary
2. Sanitary Ware Market Report Structure
3. Sanitary Ware Market Trends And Strategies
4. Sanitary Ware Market - Macro Economic Scenario
5. Sanitary Ware Market Size And Growth
…..
27. Sanitary Ware Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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