Mexico Bathroom Fittings Market Overview, 2028

Mexico Bathroom Fittings Market Overview, 2028

Actual Market Research 31-12-2022 69 Pages Figures : 5 Tables : 10 Region : North America Country : Mexico Category : Consumer Goods & Services Household Goods

The Mexican government is rebuilding infrastructure and has made strides to improve the country’s sanitation. Sanitation in Mexico has improved drastically in the last three decades. Piped water supply to urban areas has increased from 88 percent to 93 percent, rural areas from 50 percent to 74 percent, and overall access to sanitation from 64 percent to 85 percent. Earlier in Mexico toilets were sold without a toilet seat and the customer needed to purchase it separately. The major reason was the country’s warm climate. Sitting on cold porcelain was not a comfortable way. Many schools in rural Mexico don’t have access to running water every day, and some don’t have it at all. A lack of infrastructure connecting school bathrooms to local networks is one reason, but the government and educators are putting their efforts to resolve these complexities. According to the research report, “Mexico Bathroom fittings Market Overview, 2028” published by Bonafide Research, the market is projected to add USD 586.48 million by 2028. The country's growing number of residential and commercial properties, rising population, and emphasis on maintaining hygiene are all contributing to the Mexico Bathroom fittings market's anticipated significant growth in the years to come. These factors are piquing consumers' interest and fueling the nation's rising demand for the product, which is anticipated to benefit the market's potential expansion. The fastest-increasing product categories in the Mexico market are faucets and showers in particular. The cost eventually decreased and the profit margin subsequently improved due to technical advancement, making the market more lucrative as a result. In Mexico, there is a big demand for the building sector. Additionally, private home development and home repair activities are rising in Mexico. The need for bath fittings, a crucial component of bathrooms in new residential construction, is projected to expand as construction activity rises. New bathrooms are the most common home remodeling projects in Mexico. Additionally, as Mexico's population concentrates in metropolitan areas, more money is being spent on lifestyle modifications, which is promoting market expansion. There is a surplus need for bathroom fittings and other accessories because 80% of Mexico's population lives in urban areas. The primary reason for the increase in demand for bathroom goods in Mexico is the smart bathroom. These have an appealing, cutting-edge appearance and are simple to operate. This aid in establishing a healthy lifestyle. Smart bathrooms are voice-activated and equipped with contemporary amenities like heated toilet seats, sensor faucets, and sensor soap dispensers. These are environmentally friendly since they reduce water use, which reduces the risk of water overflow. These distinctive qualities of smart bathrooms provide their clients with a luxurious way of life, which stimulates the market for bath fittings to flourish. Mexico imports most of its Faucets from the United States. The top 3 importers of Faucets are the United States with 161,950 shipments followed by Vietnam with 125,136 and India at the 3rd spot with 65,796 shipments. The faucets and showers segment dominated the market. Faucets are widely used in the bathroom. With growing concerns about energy conservation and hygiene standards, key participants are heavily embracing smart bathroom concepts and modern smart accessories. Bathroom faucets are one of the essential accessories that are gaining popularity among both consumers and manufacturers. According to World Bank, the population of Mexico is around 130.6 million people, 63.72 million of whom are men and 66.54 million of whom are women. The majority of the population lies between the age group of 15 to 60. With 80% of the population in urban areas and 19 % in rural areas. Mexico's GDP was 95.01 billion us dollars in 2021 and a per capita income of $ 9926 in the year 2021. Consumers’ increased disposable income has also enabled a lavish lifestyle, which encourages the use of upscale bathroom fixtures and accessories, particularly in urban areas. During the COVID-19 pandemic, sales of smart bathroom items have grown as people have become more interested in touch-free fixtures, toilets, and lavatories to avoid getting the disease. Hotels and corporate offices have started employing smart and touch-free bathroom fixtures because people are afraid to use public restrooms. This element has a significant impact on the growth of the bath-fitting market. Retail enterprises have expanded the offline distribution route. Bathroom fixtures used to only be available at retail stores. These locations assisted customers in making choices from a variety of retail store goods. The rising demand for bathroom fixtures online was a result of suppliers strengthening the security and dependability of their online purchasing processes in response to the greater sales opportunity for these products through online channels. Manufacturers will face intense pricing pressure, and fluctuations in raw material prices will pose a significant challenge to market growth. High installation and maintenance costs will further derail the market's growth rate. The lack of a strong distribution network in backward areas, as well as rising concerns about the recycling and disposal of sanitary ware, will further limit the market's potential for growth. COVID EFFECT Various businesses were affected during COVID-19 in Mexico, including the bathroom fixtures industry. Segments like sanitaryware and bathroom fixtures are largely classified as discretionary spending and have witnessed a deferment of demand due to an unexpected decline in renovation and refurbishment activity in the near term due to the COVID-19 outbreak. However, public health has become an urgent matter in the current climate. The architecture and interior design of bathrooms are taking a fresh look at their foundation. Now, in the context of COVID-19, these spaces could evolve when the current pandemic finally recedes. A new wave of innovations in the bathroom would ensure that it is cleaner, more hygienic, and more comfortable. Considered in this report • Geography: Mexico • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Mexico Bathroom fittings market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product • Faucets • Showers • Others (Towel Rack/Ring, Hook, Grab Bars, Paper Holder, etc.) 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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