Bathroom Products Market Size to Grow USD 164710 Million by 2029 at a CAGR of 3.1% | Valuates Reports

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Nov 06, 2023, 10:30 ET

BANGALORE, India, Nov. 6, 2023 /PRNewswire/ -- Bathroom Products Market is Segmented by Type (Ceramic Products, Hardware Products), by Application (Retail, Engineering, Home Improvement Company): Global Opportunity Analysis and Industry Forecast, 2023-2029. It is Published in Valuates Reports Under the Category of Bathroom.

The Bathroom Products Market is projected to grow from USD 137140 Million in 2023 to USD 164710 Million by 2029, at a Compound Annual Growth Rate (CAGR) of 3.1% during the forecast period.

Major Factors Driving the Growth of Bathroom Products Market:

Expanding disposable income, the hotel sector is booming, and smart homes are becoming more popular. Global market expansion is being supported by a variety of macroeconomic variables, including changing demographics, fast urbanization, an increase in nuclear families, an increasing number of couples purchasing new homes, and government intervention through cheap home loans. The rising popularity of smart homes is making bathrooms more aesthetically pleasing and practical. Market expansion is being further stimulated by rising product awareness, forceful new releases, active marketing by major players, and fortifying distribution networks.

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TRENDS INFLUENCING THE GROWTH OF BATHROOM PRODUCTS MARKET:

The fast urbanization and real estate development occurring worldwide is the main driver of the market's robust expansion for bathroom items. There is a growing need for residential and commercial buildings as more people move into cities. As a result, there is a greater need for contemporary and fashionable bathroom goods. Modern bathrooms are a common element of new residential and commercial buildings, which creates a sizable market for fixtures including faucets, showers, toilets, and vanities.

The bathroom goods industry is largely shaped by shifting customer tastes and lifestyles. These days, consumers are more interested in design and look for goods that improve the visual appeal of their bathrooms in addition to fulfilling utilitarian needs. As a result, there is a growing need for cutting-edge, eco-friendly, and upscale bathroom items. In response, producers are launching innovative styles, ecologically friendly alternatives, and smart bathroom solutions.

Technological developments are transforming the market for bathroom items. The cost and availability of smart bathroom solutions, such as voice-activated mirrors, digital showers, and smart toilets, are rising. These products improve energy efficiency and water conservation in addition to being more convenient. It is anticipated that demand for these technologically advanced bathroom goods will rise as IoT integration and connection become more prevalent in households.

In emerging nations, the market for bathroom items is growing quickly due to substantial infrastructural development and urbanization. The demand for bathroom items is rising as a result of significant investments made in residential and commercial projects by nations like Brazil, China, and India. Bathroom product makers, both domestic and foreign, might see significant development prospects in these locations. The market for items for accessible bathrooms is being driven by the aging population. The need for bathroom goods made with accessibility and simplicity of use in mind is rising as an increasing number of individuals age and choose to live independently. This includes items that address the particular requirements of the elderly and those with limited mobility, such as grab bars, walk-in bathtubs, and elevated toilet seats.

Environmental issues are becoming a major factor driving the market for bathroom goods. Water and energy-efficient products that are sustainable and environmentally friendly are becoming more and more popular. Recycled or environmentally friendly materials, low-flow toilets, and water-saving faucets are becoming more and more common. The promotion of green construction practices by regulatory authorities and certification programs has also influenced the change in consumer and business priorities.

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BATHROOM PRODUCTS MARKET SHARE ANALYSIS

Global producers of essential bathroom items include JOMOO, Arrow, and others.10% of the market is held by the top 5 firms.

With a market share of over 42%, Asia Pacific is the largest, followed by North America and Europe, each with a share of roughly 22%.

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Key Companies:

Arrow
Jomoo
Toto
Kohler
HeGii
LIXIL Group
Seagull
Huida
Roca
Hansgrohe Group
Suncoo
Duravit
Riifo
Villeroy-Boch
D&O Home Collection
MEGMEET
Moen
Orans
SSWW
DongPeng
Fujian HHSN Kitchen & Bath Group
Micoe
HCG
Larsd

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