Sustainable Solutions to Address Toilet Crisis in Underdeveloped and Developed Regions to Aid Market Growth
The past decade has experienced a considerable growth in the overall awareness related to sanitation and hygiene across the world, particularly in underdeveloped and developing regions including Asia Pacific, Africa, and Latin America. The rate of infrastructure development across these regions continues to remain high, as governments emphasize on industrialization and modernization due to which, the demand for toilet seats has increased at a considerable rate over the past few years. This trend is expected to continue during the forecast period.
Sanitation campaigns initiated by municipalities coupled with substantial rise in the number of toilet-building projects across the Asia Pacific region is expected to provide lucrative opportunities for market players operating across the toilet seat market. Moreover, technological advancements and advent of several innovative concepts are expected to pave the way for ‘smart toilets’ in upcoming years, which, in turn, is expected to have a direct influence on the growth trajectory of the global toilet seat market. Several urban planners and architecture firms are increasingly focusing on devising sustainable solutions to address the toilet crisis in several developing and under developed countries– another factor that is likely to propel the market growth in the upcoming years.
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At the back of these factors, along with expanding residential and commercial sectors around the world, the global toilet seat market is expected to reach US$ 8.7 Bn by the end of 2030.
Growing Demand for Portable Sanitation to Drive Global Market for Toilet Seats
Due to continual innovations and emphasis on improving sanitation conditions at construction sites, public spaces, public events, and more, portable toilets have garnered a great amount of popularity over the past few years– a trend that is likely to gain momentum over the assessment period. The soaring demand for portable toilets can be primarily attributed to functional properties such as convenience, low cost, and no plumping infrastructure. The commercialization trend across different parts of the world is projected to provide abundant opportunities to the players operating in the toilet seat market. Commercial construction spending across countries, including India, China, and Indonesia is projected to witness considerable growth during the forecast period due to which, the demand for toilet seats is anticipated to grow at an impressive pace.
While the commercial sector is projected to provide opportunities to manufacturers involved in the toilet seat market, the booming residential sector in Asia Pacific and Middle East & Africa regions is also expected to prove lucrative.
The soaring demand for portable toilets from the events segment is another factor that is expected to provide a boost to the overall growth of the market for toilet seats during the assessment period. With consistent increase in the number of portable toilet contracts across the event management field, the demand for toilet seats made from lightweight materials such as plastic is expected to scale up in the upcoming years.
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Entry of New Technologies Likely to Pave Way for Smart Toilets
Due to considerable development in technology, smart toilets have gradually garnered immense popularity, mainly in nations such as Japan, South Korea, and Germany. A number of players operating in the current toilet seats market landscape are increasingly focusing on integrating smart technologies, including Internet of Things (IoT) in toilet seats. Over the latter half of the forecast period, automated toilet seats are projected to enter the market due to pivotal technological breakthroughs particularly in nations including Japan and South Korea. Sensing the growing interest in smart toilets, a number of companies and tech startups are increasingly focusing on the toilet seat market space to gain a competitive edge.
Demand for Toilet Seats to Decline amid COVID-19 Pandemic
The ongoing COVID-19 pandemic is expected to have a strong impact on the overall growth of the toilet seat market. Delays or halt in an array of construction projects across the world due to stringent lockdown measures and restrictions on transportation, trade, and more, along with shutdown of the event industry, are expected to play a key role in denting market growth during the ongoing COVID-19 pandemic. In addition, disruption in the supply chain and closures of shopping malls, retail stores, and showrooms are other major factors expected to negatively impact offline sales.
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