LONDON–(BUSINESS WIRE)–Technavio has been monitoring the bathroom sinks market and it is poised to grow by USD 1.92 billion during 2020-2024, progressing at a CAGR of almost 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions-
- Based on segmentation by the end-user, which is the leading segment in the market?
- The residential sector is expected to be the leading segment in the global market during the forecast period.
- At what rate is the market projected to grow?
- Growing at a CAGR of almost 4%, the incremental growth of the market is anticipated to be USD 1.92 billion.
- Who are the top players in the market?
- BLANCO GmbH + Co. KG, Duravit AG, Elkay Manufacturing Co., FRANKE Holding AG, JOMOO Kitchen & Bath Co. Ltd., Kohler Co., LIXIL Group Corp., Moen Inc., Roca Sanitario SA, and Toto Ltd. are some of the major market participants.
- What are the key market drivers and challenges?
- Increase in building refurbishment activities is one of the major factors driving the market. However, the fluctuations in raw material prices restraints the market growth.
- How big is the APAC market?
The APAC region will contribute 41% of market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period.