NEW YORK, Nov. 11, 2021 /PRNewswire/ -- According to the research report "Bathroom Sinks Market - Forecast and Analysis Report 2021-2025", the market is expected to have a YOY growth rate of 1.45% in 2021 and is expected to grow at a CAGR of 4% between 2020 and 2025.
APAC is the largest market for bathroom sinks. Factors such as growing residential sector, increasing investments in infrastructure, and continuous implementation of policy reforms to spur private investments, and growing construction activity in emerging countries are creating significant growth opportunities for bathroom sink manufacturers in APAC.
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Vendor Insights
The global bathroom sinks market is fragmented in nature due to the presence of several global and regional players.
The growing competition in the market is compelling vendors to adopt various growth strategies such as focusing on technological advancements and innovations to compete in the market.
For Instance, Duravit AG offers variety of bathroom sinks under categories such as washbowls, wall-mounted basins, vanity basins, double washbasins, hand rinse basins, and others.
Find additional highlights on the growth strategies adopted by vendors and their product offerings.Read Sample Market Research Report.
Geographical Market Analysis
APAC will provide maximum growth opportunities in the bathroom sinks market during the forecast period. According to our research report, the region will contribute 41% of the global market growth share and is expected to dominate the market through 2025. China and Japan will emerge as the key revenue-generating economies in the region due to the growing residential sector.
In addition, countries such as the US, China, UK, France, and Japan are expected to emerge as prominent markets for bathroom sinks during the forecast period.
Know more about this market's geographical distribution along with the detailed analysis of the top regions.www.technavio.com/report/bathroom-sinks-market-industry-analysis
Key Market Trends & Challenges:
The report identifies the growing popularity of semi-recessed sinks as one of the major trends influencing the market growth positively during the forecast period. These sinks combine the convenience of an undermount sink and the contemporary look of a vessel sink. In addition, the semi-recessed sinks offer more vanity space and have closer tap landings, making them an ideal choice not only for elders but also for children. Furthermore, the rising need for space-saving sinks in modern households will further fuel the bathroom sinks market growth in the upcoming years.
Most of the raw materials used for manufacturing bathroom sinks including ceramic, concrete, granite, polyester, stainless steel, stone, and others are sourced and obtained based on purchase orders. Any changes in the prices of these raw materials usually impacts the overall production costs. Fluctuations in the prices of raw materials, thus, poses to be the biggest threat to the market. Increment in the material costs will further lead to rise in the production costs, in turn, inflating the price of the final product.
View free sample for highlights on market Trends & Challenges affecting the bathroom sinks market.
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Bathroom Sinks Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 4% |
Market growth 2021-2025 | USD 1.84 billion |
Market structure | Fragmented |
YoY growth (%) | 1.45 |
Regional analysis | APAC, North America, Europe, MEA, and South America |
Performing market contribution | APAC at 41% |
Key consumer countries | US, China, UK, France, and Japan |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Duravit AG, Elkay Manufacturing Co., FRANKE Holding AG, HSIL Ltd., Jaquar Group, JOMOO Kitchen and Bath Co. Ltd., Kohler Co., LIXIL Corp., Roca Sanitario SA, and Toto Ltd. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us:
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: media@technavio.comWebsite: www.technavio.com/
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SOURCE Technavio