Transparency Market Research delivers key insights on the global bathroom products market. In terms of revenue, the global bathroom products market is estimated to expand at a growth rate of ~8% during the forecast timeline, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global bathroom products market report.
In the report, TMR predicts that the global bathroom products market would be largely driven by growing production of bathroom products across the globe and growth in population, which has led to increased adoption of bathroom products globally, mainly in countries such as the U.S, Germany, China, and India that is expected to boost the growth of the bathroom products market in the upcoming years.
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In the bathroom products market research report, in terms of type, the market has been divided into bathroom basin, bathroom furniture, and bathroom accessories. Bathroom accessories segment held majority market share in terms of volume in 2019, and the same scenario is likely to be witnessed during the forecast years as well. However, economic development will lead to innovations in the construction industry, particularly in terms of residential buildings with improved facilities, which is expected to push the demand for bathroom basins during the forecast period.
Based on application, the global bathroom products market has been classified into residential and commercial. The increasing construction of commercial spaces such as shopping complexes, shopping malls, and offices has increased the demand for bathroom products. The growth of the construction industry is the major factor responsible for the expansion of the bathroom products market. Home renovation activities are also anticipated to drive the bathroom products market. The residential sector holds a major share of the bathroom products market.
In terms of distribution channel, the global bathroom products market has been divided into online and offline. The offline mode of distribution is expected to drive the bathroom products market in the near future, holding more than 69% share of the market in 2019. A large number of bathroom products manufacturers are selling their products across the globe through their company-owned website and e-Commerce websites. The online distribution channel is, thus, expected to grow at the fastest rate during the forecast period, owing to the rise in trend of buying consumer products through e-Commerce and online platforms. The evolution of the e-Commerce industry has created significant opportunities for manufacturers and distributors of bathroom products.
Bathroom Products Market: Prominent Regions
Asia Pacific accounted for a major share of the bathroom products market in 2019. The Asia Pacific market is driven by the large number of construction projects and technological advancements in bathroom products. Hence, it is the fastest growing market in the world. However, North America and Europe have been dominating the bathroom products market.
Growing government initiatives such as the Swachh Bharat Abhiyan in India and other government initiatives worldwide are other major reasons for the growth of the market globally.
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The COVID-19 pandemic in different European countries has a major impact on this market. Bathroom basin sales have dropped in the fast quarter. However, after relaxation of lockdown, consumer demand for bathroom products has increased in Germany, the U.K., and other European countries. Furthermore, consumer demand for premium products is driving the market, apart from high spending power of the middle class population.
Bathroom Products Market: Key Players
Some of the key players operating in the bathroom products market are Kohler Co., Roca Sanitario, S.A., TOTO Ltd., LIXIL Group, Hamberger Sanitary GmbH, Huida Sanitary Ware Co., Ltd., Bemis Manufacturing Company, Sloan Valve Company, Ginsey Home Solutions, and AmeriSink Inc.
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