Global Bathroom Fittings & Accessories Market Research Report, 2023-28

Cleaning soap dishes, towel racks, and other bathroom accessories come in a variety of durable, ornamental finishes. Along with the increase in the housing market, the associated enterprise verticals, including bathroom accessories, are also expected to see a robust increase in the coming years. The housing region has been developing because of the upward push in the buying power of individuals and the overall urban population, a boom in the wide variety of nuclear families, speedy urbanization, and the authority’s involvement in offering easy loans, among others. This, in turn, has been contributing to the expansion of the bathroom fittings market. Moreover, the actual property enterprise is addressing the demand for built-up space from a number of market segments, including offices, housing units, shopping malls, the hospitality enterprise, the producing sector, and logistics facilities. Thus, the housing region is expected to experience a tremendous increase, thereby driving the demand for bathroom accessories, which shape a fundamental part of the modern-day infrastructure. According to the report titled "Global Bathroom Fittings Market Research Report, 2023–28," published by Actual Market Research, the market was valued at more than USD 51 Billion in 2022, and it is anticipated to grow at a CAGR of more than 7% from 2023 to 2028. The increasingly changing lifestyle and demand for luxurious products in the residential sector are expected to spur growth in the market. The market has grown significantly as a result of rising urbanization and increased consumer interest in new bathroom accessories. A residence with a minimum of one bathroom has grown in urban areas, which in turn has brought about a growth in the demand for bathroom accessories. The number one element of using the bathroom accessories marketplace consists of speedy urbanization and enhancing dwelling standards. As a result, customers at the moment are turning into more willing buyers of top-class and high-end household accessories. In addition to this, the growing urbanization levels, alongside the developing production of comfortable housing initiatives, have similarly augmented the demand for bathroom accessories. Various automatic toilet add-ons, including sensor taps, clever showers, and mixers, automated cleaning soap dispensers, etc., are gaining recognition, exactly in line with the various urbanized populations. Government projects favoring superior and sustainable infrastructure in international locations, including India and China, are predicted to propel the development of the market. According to the World Health Organization (WHO), poor sanitary hygiene is one of the major causes of death and accounts for 60% of the total number of deaths caused by diarrhea each year. Good sanitary and personal hygiene is necessary for leading a healthy life, which is driving the demand for bathroom accessories and bathroom linen. On the other hand, the advent of smart bathrooms is one of the key market trends fuelling the market growth. Smart bathrooms incorporate bathroom accessories such as digital bathroom accessories, which are convenient to use and conserve water and energy. These digital faucets have features such as digital temperature control settings and touchless technology. They use infrared tap technology that senses when the hands are under or away from the tap and lets the water flow accordingly. They can also have digital shower panels with LCD displays, which help the user control the flow of water from the shower, play music, and set the lighting and water temperature. Such innovations are anticipated to fuel the market growth during the forecast period. According to the report, the global bathroom fittings market is segmented into two major types, including faucets and showers. Among them, faucets will dominate the overall market in 2022, with a higher market share owing to increasing adoption on a global level. Product layout innovation with the assistance of manufacturers aimed at broadening product portfolios to benefit aggressive gain is predicted to be a key market trend. Based on the end-user segment, residential usage of bathroom fittings is anticipated to lead the market during the upcoming timeframe. Owing to the immense potential of the global bathroom accessories market, backed by luxurious products and features such as built-in sensors and water-saving technology, bathroom accessories are highly demanded in the residential market. On the other hand, bathroom accessories are used in the hospitality sector and by governments to ensure public sanitation. Covid-19 Impacts: Ever since COVID-19 broke out in 2019, it has spread aggressively, resulting in a rapid declaration by the WHO affirming COVID-19 as a global pandemic and an emergency. The impact of the pandemic is widespread, and the aftermath is well-pronounced, gravely affecting the global bathroom accessories market. The sudden pandemic and its implications have posed significant challenges, such as travel bans, quarantines, and lockdowns. These developments are hampering operations and resulting in supply chain breaches, stock market inefficiencies, and vendor chaos. These are constantly interfering with the normal functioning of industries. Ever since the outbreak of the global crisis, the impact on upstream, downstream, and midstream industries has been appalling. Amidst the pandemic, the global bathroom accessories market has been witnessing new dynamics that are necessitating new business models and approaches to recoup growth and revenue streams. 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 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 • Europe • Asia-Pacific • South America • Middle-East & 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.