From 2013 to 2021, the water sink market is expected to grow at a CAGR of 2.5 percent, reaching US$ 45.9 billion in 2022 and US$ 52.9 billion by 2027. Water sinks have a 30 percent to 35 percent market share in their parent market (kitchen fittings).
Key Points Covered In Water Sink Market Survey
- Water sink market estimates and forecast 2013-2027
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Water Sink Market and How to Navigate
- Recommendation on Key Winning Strategies
2013-2021 Global Water Sink Market Outlook Compared To 2022-2027 Forecast
Over the last two decades, the water sink market has come a long way. The industry has seen great growth in terms of product quality as well as new product offerings that are easily adaptable to current client trends and preferences.
With rising per capita wealth and a growing desire among consumers to maintain the attractiveness and comfort of their homes, a trend has emerged in which people choose to exhibit their water sinks according to their tastes.
This factor has facilitated the spread of the water sink market into previously untapped markets. Mixed metals, for example, are used to make a variety of water sink accessories.
Farmhouse Water Sinks Are Being Considered The New Preferred Choice Of Target Customers
According to the water sink market, the demand for classic farmhouse water sinks in the household sector has gradually increased over the last few years. Customers nowadays choose larger, single-basin farmhouse water sinks, which they believe offer the perfect balance of beauty and simplicity.
Restraints To Stunt Market Growth
A 10-year warranty is included with a variety of cookware and bathroom ware products from well-known manufacturers. This could lead to a stockpile of inventory and a reduction in a company’s manufacturing capabilities.
Furthermore, consumers are less likely to repair bath fittings due to high labor expenses. As a result, the low rate of bath fitting replacement is a primary factor limiting the global water sink market’s volume sales growth.
Water Sink Market – Competitive Landscape
Leading companies in the global water sink market are focused on product launches, alliances, promotional activities, and other methods to develop their business globally.
- Blanco America, Inc. developed the coal-black SILGRANIT Color, a proprietary material sink in March 2021, claiming it to be stronger and more durable than previous sinks. The product includes SILGRANIT’s Hygenic Plus surface compound, which works as a barrier against bacteria and dirt, preventing bacterial growth by up to 98%.