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Water Sink Market By Material (Stainless Steel, Copper, Quartz, Fireclay, Cast Iron, Other), By Product (Freestanding Water Sink, Pedestal, Drop-In, Under-mount, Top Mount, Wall Mount, Other), By Distribution Channels (Wholesalers, Specialized Stores, Multibrand Stores, Online Retail), By Applications (Household, Commercial) - Growth, Future Prospects, And Competitive Analysis, 2019 – 2027

Increasing Adoption of Water Sinks Globally to Ensure Rapid Growth for the Water Sink Market

Globally, the water sink market is expected to grow with a CAGR of 2.5% during the forecast period from 2019 to 2027, starting from US$ 41.60 Bn in 2018. Water sinks or skinners, washbasins, or hand basins are designed for washing hands and other purposes. They have different sizes and shapes with attached taps to supply the water. The water skins are commonly made of stainless steel, plastic, concrete, and marble. 

The rapidly growing demand for water skins in the commercial sector drives the growth of the water sink market worldwide. Additionally, the availability of different sizes and shapes of water sinks according to their application contributes to the growth of the water sink market.

Furthermore, the growing disposable income and rapidly growing construction activities across the globe are augmenting the growth of the water sink market. Furthermore, the introduction of attractive printing and painting in the designs of the water sinks is anticipated to create a huge demand for the water sink market. The manufacturers are more focused on using natural colors and painting to offer an environmentally friendly style.

The rising adoption of monochrome styles in bathrooms and the use of water skins in the commercial sector is boosting the demand for water skins. The growing use of mixed brass fixtures or chrome fixtures to provide an authentic look to the water sinks is promoting the growth of the water sink market.

Market Synopsis

Stainless steel water sinks continue to dominate the water sink market.

In 2018, stainless steel water sinks held the largest market share, approximately 28 percent of the total market, based on the materials. Stainless steel is the most commonly used material for manufacturing water sinks. Stainless steel offers durability, ease of maintenance, and cost-effective benefits over the other materials that are anticipated to boost its growth in the water sink market.

Furthermore, they also offer high resistance to hot and cold objects. Thus, this is contributing to the growth of the water sink market. Moreover, on the basis of product, the market is further divided into drop-in, pedestal, under-mount, wall mount, top mount, and others. Among these, pedestals and top mounts hold considerable market shares in the water sink market.

North America Dominates the Market by Region

North America holds the largest market share in the water sink market, followed by Europe. The trending home decor industry is the key factor that drives the growth of the North American water sink market. The U.S. is expected to dominate the North American water sink market through the forecast period.

Additionally, the growing investments in intramural developments and the presence of a large number of manufacturers are promoting the growth of the water sink market in this region. Furthermore, Asia Pacific is the fastest-growing region in the water sink market owing to the growing adoption of monochrome-styled water sinks, rising disposable income, and rapidly changing consumer lifestyles.

Some of the prominent players operating in the water sink market include Franke Kitchen Systems, LLC; Roca Sanitario, S.A.; Moen Incorporated; Elkay Manufacturing Company; ROHL LLC; Whitehaus Collection; Vigo Industries; Kohler Co.; Julien Inc.; Huida Sanitary Ware Co., Ltd.; Kraus USA, Inc.; Tasman Sinkware Pty Ltd.; TOTO USA, Inc.; and others.

Historical and Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The water sink market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global water sink market based on technology, application, end-user, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

  • What was the size of the water sink market in 2018 and the forecast up to 2027?
  • Which is the largest regional market for applications?
  • What are the major trends followed in the water sink market across different regions?
  • Who are the key water sink companies leading the market?
  • What are the key strategies adopted by the leading water sink companies in the market?

Unique data points of this report

  • Statistics on water sink penetration and spending worldwide
  • Recent trends across different regions in terms of the adoption of water sinks for various vehicles
  • Notable developments are going on in the magnetic sensor market.
  • Attractive investment propositions for segments as well as geography
  • Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

 

Frequently Asked Question:

The market for Water Sink Market is expected to reach USD$ 41.60 Bn in 2027.

The Water Sinkt Market is expected to see significant CAGR growth over the coming years, at 2.5%.

The report is forecasted from 2019 -2027.

The base year of this report is 2018.

Moen Incorporated; Elkay Manufacturing Company; ROHL LLC; Whitehaus Collection; Vigo Industries; Kohler Co. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Aug 2019
Category:  Building & Construction
Report ID:   59831
Report Format:   PDF
Pages:   120
Rating:    4.2 (69)
Delivery Time: 24 Hours to 48 Hours   
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