Tapping into Growth: Water Sink Market Gains Momentum Toward US$ 62...

Tapping into Growth: Water Sink Market Gains Momentum Toward US$ 62 Billion by 2033

Veröffentlicht 2024-03-07 08:12:51

The water sink market size is projected to be worth US$ 62 billion by 2033, up from US$ 47.22 billion in 2023. Throughout the course of the projection period, the adoption of water sink is anticipated to grow at a CAGR of 2.8%.

Over the years, the global water sink market has evolved tremendously in terms of product offerings and quality. With a stream of smartphones and upgraded electronic equipment gaining traction among the target segments, the global water sink market is striving to offer efficient services.

In the premier segment, the new generation of smart sinks provide additional services such as the dispensing of liquid soap and water, drying out one’s hands, etc. The AER-DEC Integrated Sink System by Sloan is an example of a smart water sink that is being designed to be efficient as well as hygienic.

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The consumers of today are more inclined to nature-based interior designs that give the perception of a more spacious and authentic look from the inside. Hence, most water sink manufacturers are aiming at creating nature-oriented water sink products for households as well as commercial segments.

For instance, vessel water sinks and traditional farmhouse water sinks have become among the most preferred water sink products among target customers. Hand-carved stone on water sinks provide a splendour touch to the products and provide a lasting impression in the minds of consumers.

As customers are confused while choosing the colours of water sinks, there has been an increase in the preference for monochrome style kitchens and bathrooms, which keep the black and white colours consistent. Matte black is another upcoming colour used in bathroom faucets, hardware as well as water sink products as it provides an overall natural and luxurious look.

Key Takeaways from the Water Sink Market Study

Consumers want to keep the interiors of their homes looking good to spread positive energy, therefore they maintain the interiors of their kitchens and bathrooms as well to improve comfort and cleanliness.
As a consequence, installing modernised water sinks in bathrooms and kitchens aids in meeting the varied tastes and requirements of target clients.
Online platforms provide for the advertising of goods and services as well as their simple delivery to the intended clients, therefore this sales channel is predicted to grow.
Additionally, it is anticipated that the worldwide market for water sinks would see an increase in sales due to technical improvements in the industry.

Who is winning?

Leading manufacturers of water sink are focused on aggressive promotional strategies and advertisements that have driven sales growth of water sink globally.

Major players present in the water sink market are Blanco America, Inc., Crown Products (Kent) Limited, Elkay Manufacturing Company, Franke Kitchen Systems, LLC, Huida Sanitary Ware Co., Ltd., JULIEN INC., Kohler Co. (Sterling), Kraus USA INC., LIXIL Corporation (American Standard Brand), Moen Incorporated, Mountain Plumbing Products, Roca Sanitario, S.A., ROHL LLC., Schock GmbH, Stern-Williams Co. Inc., among others.

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Global Water Sink Market By Category

By Product Type:

Drop-in Water Sink
Pedestial Water Sink
Top Mount Water Sink
Undermount Water Sink
Wallmount Water Sink
Others

By Base Material:

Fireclay
Stainless Steel
Cast Iron
Copper
Quartz
Others

By End Use:

Household
Commercial
- Foodservice
- Healthcare
- Hospitality
- Corporate & Government Offices
- Educational Institutes
- Public Toilets
- Shopping Malls
- Clubs &Resorts
- Others