India Sanitary Ware market expected to grow at a significant CAGR of xx% from 2020-2026
- Published | 09 July 2020
The India Sanitary Ware market was valued at USD xxx million in 2019 and expected to reach USD xxx million by 2026, at a CAGR of xx% over the forecast period 2020 – 2026 due to hygiene awareness among the consumers.
Sanitary ware is the kitchen/bathroom fixtures, which are manufactured from the several source materials such as glass, metals, acrylics, and, ceramics, etc. An increasing disposable income, and rapid urbanization anticipated to propel the India sanitary ware market across the region over the forecast period. The initiatives by the government to progress the sanitation conditions across India along with the flourishing real estate market are the crucial drivers for the sanitary ware market across the India. In addition, with increasing urbanization and awareness about safe sanitation, the demand for other sanitary products such as sinks, bidets, pedestals, etc., is expected to increase over the forecast period. The demand for contemporary design with environment friendly and technologically superior product options anticipated to propel the India sanitary ware market across the region during the forecast period of 2020-2026. The rising awareness surrounding sanitation and proactive government missions such as Swachh Bharat Abhiyan, Housing for All (60-million new houses by 2022) and Smart City Mission (development of 100 smart cities) projects are projected to propel the market across the region. However, the lack of consciousness about sanitation and hygiene in emerging countries is a major factor, which is estimated to hinder the growth of the India sanitary ware market.
Toilet Sink/Water Closet segment expected to dominate the Sanitary Ware Market
Toilet Sink/Water Closet segment anticipated to have the largest share. In addition, Toilet Sink/Water Closet segment anticipated to dominate the India market across the region during the forecast period of 2020-2026 due to the increasing consumer demands for replacing traditional sanitary products. The selection of toilet sinks depends on the size of bathrooms and space availability. The rising disposable income across developing economies has driven the rise in more premium sanitary ware commodity, expected to fuel the demand across India.
Residential segment expected to dominate the End-User segment in India Sanitary Ware Market during the anticipated period.
Residential segment anticipated to have the largest share. In addition, Residential segment anticipated to dominate the India market across the region during the forecast period of 2020-2026 owing to the infrastructural development across the emerging economies such as China, and India. In addition, expansion of middle-class income groups across India is also projected to propel the market. However, the commercial segment expected to grow at a fastest rate during the forecast period, which estimated to drive the India sanitary ware market across the India.
Growth in the real estate anticipated to drive the India sanitary market during the forecast period
The rise in the real estate estimated to create an opportunity for the India sanitary ware market across the region during the forecast period of 2020-2026. The increasing population and the rapid urbanization play a crucial role, which is fueling the real estate industry. Real estate is experiencing a faster growth in developing economies, as such economies provide more opportunities for the investors due to rapid urbanization and growing income levels. As per the India Brand Equity Foundation (IBEF), the real estate industry is the second largest in the India, in terms of employment opportunities, following the agriculture.
Northern India is expected to grow at a significant rate the India Sanitary Ware market during the anticipated period.
Geographically, the India Sanitary Ware market is bifurcated into Northern India, Southern India, Eastern India, Western India. Northern India projected at grow at a considerable rate during the forecast period of 2020-2026 across the region. In addition, Eastern region estimated to have a uptick growth across the region over the forecast period.
Sanitary Ware market: Competitive Landscape
The major market players in the Sanitary Ware market are Hindustan Sanitary Ware India Limited, Jaquar and Company Private Limited, Kohler India Corporation Private Limited, Roca Bathroom Products Private Limited, Duravit India Private Limited, H. & R. Johnson (India) TBK Limited, Cera Sanitaryware Limited, Somany Sanitary Ware Private Limited, Toto India Industries Private Limited, Neycer India Limited, and Other Prominent Players are expanding their presence in the market by implementing various innovations and technology.
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The in-depth analysis of the report provides the growth potential, upcoming trends, and statistics of the Sanitary Ware market size & forecast. The report promises to provide state-of-the-art technology of Sanitary Ware and industry insights which help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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