Global Bathroom Fittings & Accessories Market Research Report, 2028

Global Bathroom Fittings & Accessories Market Research Report, 2028

Actual Market Research 31-12-2022 140 Pages Figures : 38 Tables : 84 Region : Global Category : Consumer Goods & Services Household Goods

Bathroom fitters include all aspects of bathrooms, including faucets, showers, and others (towel racks, bathtubs, hooks, grab bars, etc.). The bathroom fittings market is expected to grow significantly during the forecasted period due to changes in lifestyle and an increase in disposable income. Also, bathroom fittings were limited to the urban areas previously and the penetration in rural areas is still left, which is going to boost the growth of the bathroom fitting market. Bathroom fittings are generally made of porcelain, metal, glass, acrylic plastic, Perspex, and other materials. Bathroom fixtures enhance both the aesthetic and functional value of the bathroom. It also emphasizes elegance, style, and luxury. According to the report titled "Global Bathroom Fittings Market Research Report, 2028,” published by Actual Market Research, the market was valued at more than USD 51 Billion in 2022, and it is anticipated to grow with a CAGR of more than 7% from 2023 to 2028. As the disposable income of people increases, they are starting to live a better life than earlier, which is increasing the demand for various products. People are renovating or building new houses to live a luxurious life, which is one of the key factors driving the growth of the bathroom fittings market. The bathroom fittings market has been bifurcated into Faucets, Showers, and Others (Towel Rack/Ring, Bath Tubs, Hooks, Grab Bars, etc.) in the product segment. Faucets currently have a market share of more than 80% in the bathroom fitting market. The demand for bathroom fittings products is increasing in tandem with the growth of the residential, commercial, hospitality, and institutional sectors. And faucets are a product that is required in every bathroom, kitchen or another area where a person needs water. The bathroom fittings market has been divided into two segments based on end user, namely residential and commercial. Residential currently holds a market share of more than 60% in the bathroom fittings market. Because there are more residential areas than commercial areas, the product is more in demand in the residential area, making the residential end user the market leader in the bathroom fitting market. The distribution channels that are considered in the bathroom fixtures market are offline and online. People have been using the offline mode of distribution for a long time, and there has been no substitute for it. As a result, the offline distribution channel currently controls more than 90% of the bathroom fittings market. As per the region, the bathroom fittings market has been bifurcated into five regions, i.e., North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The Asia Pacific region is currently dominating the bathroom fitting market with a market share of more than 40%. With the increase in the disposable income of the people in that region, they are starting to demand luxury products. Also, a lot of development is still left in that region, which is one of the key drivers for the growth of the bathroom fittings market in the Asia Pacific region. Due to the restrictions of the COVID-19 pandemic, the bathroom fittings market saw a slowdown in that period as many governments restricted trade, which disrupted the supply chain all over the world. And so raw materials were not able to reach the manufacturing places due to the closure of many transportation routes all over the globe. As a result, the bathroom fixtures market slowed. However, with the removal of restrictions, the bathroom fittings market has returned to normalcy and is beginning to grow as consumers demand new product innovations. The industry has a large number of international and regional players. The impact of these established players on the market is quite high, as a majority of them have vast distribution networks across North America, Europe, and Asia Pacific to reach out to their large customer base. The key players operating in the market are focusing on strategic initiatives, such as product launches, participation in events, and expansions, in order to boost revenue growth and reinforce their position in the market. Key players are also involved in product launches in order to fuel their growth in the future and solidify their position in the market. Top impacting factors: • Smart bathrooms are a key factor in the rise in demand for bathroom products. These look attractive and innovative and are easy to use. These also help adopt a healthy lifestyle. Voice-controlled smart bathrooms include modern features such as a heated toilet seat, sensor faucets, and sensor soap dispensers. These are eco-friendly as they also help save water, which helps prevent overflows. These unique features of smart bathrooms offer a luxury lifestyle to their consumers, which fuels the growth of the bathroom products market. • The rapid increase in urbanization is a major factor that boosts the growth of the bathroom products market, as the rise in population leads to the growth of infrastructures such as residential houses and buildings, corporate offices, hospitals, educational institutions, and other commercial projects, which influence the demand for bathroom products. • People are willing to spend more on advanced facilities and featured bathroom accessories, such as light-controlled LED in bathrooms and modern bathroom cabinet mirrors, as their disposable income rises. These modern bathroom products make the bathroom beautiful and stylish, thus boosting the growth of the bathroom product market. Market trends: • Increase in the popularity of smart bathrooms: There is an increase in the popularity of smart bathrooms, which feature elegant designs and many unique features, such as inbuilt sensors. With the help of smart bathrooms and touchless technology, consumers will be able to control the temperature of water in digital faucets or showers, along with bathroom lights and music. Such innovations are anticipated to boost the growth of the bathroom products market. • Surge in the use of smart bathroom products: The sale of smart bathroom products has increased during COVID-19, and people have been attracted toward touch-free products such as faucets, commodes, and lavatories to stay away from Coronavirus disease. Since people fear the use of public washrooms, hotels and corporate offices have started using smart and touch-free bathroom products, thus accelerating the market's growth. Recent Developments: • In March 2020, Vogue (UK) launched a new aluminum Astute towel warmer that is extremely lightweight, making it suitable for installation on any type of internal wall. Aluminum has been used in order to achieve high production efficiency. • In May 2019, LIXIL Group Corporation introduced new cutting-edge technology and differentiated designs through its portfolio of leading international brands, which include American Standard, GROHE, INAX, and LIXIL (prefabricated bathrooms). • In 2020, Kohler, a manufacturer of bathroom solutions, introduced the innovative Touchless Toilet, which allows for touchless flushing through the incorporation of a sensor in the toilet's flush lever. • In January 2021, Roca, a Spanish manufacturer of bathroom products, acquired the bathroom furniture division of RG International Bathroom for an undisclosed amount. This acquisition is expected to reinforce the bathroom furniture category and will allow the Roca group to increase its competitiveness in this segment. RG International Bathroom is a Europe-based manufacturer of bathroom products. Major Companies present in the market: Lixil Corporation, Kohler Co., Toto Ltd., Roca Sanitario SA, Hansgrohe SE, Jaquar, Villeroy & Boch AG, Vitra, Duravit AG, Masco Corp, Bradley Corp., Globe Union Industrial Corporation, Fixtures LLC, Jacuzzi Brands LLC, Norcros Plc, Geberit AG, Gessi S.p.a, American Specialties Inc., Hindware Limited, Novellini Spa, Fortune Brands Home and Security Inc Considered in this report • Geography: Global • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Global Bathroom Fittings market with its value and forecast along with its segments • Region-wise bathroom fittings market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Regions covered in the report • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Spain, Italy, Russia) • Asia-Pacific (China, Japan, India, Australia, South Korea) • South America (Brazil, Argentina, Colombia) • Middle East & Africa (UAE, Saudi Arabia, South Africa) By Product • Faucets • Showers • Others (Towel Rack/Ring, Bath Tubs, Hook, Grab Bars, etc.) By End User • Residential • Commercial By Distribution Channel • Offline • Online The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Bathroom fittings industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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