Water Sink Market: Forecast and In-depth Analysis and Opportunity Assessment 2018-2027
The latest report on water sink market by Persistence Market Research (PMR) offers actionable and valuable insights on the market. The report also provides in-depth analysis on the market along with the market dynamics including trends, drivers, and opportunities in the water sink market. The study focuses on the historical data of 2013 along with the estimated data for coming years in the water sink market report, along with forecast period 2018-2027. The report offers information on the current scenario in the market and new developments by manufacturers in the market. The report also includes comprehensive analysis of the water sink market along with data in terms of value, volume, CAGR, and year-on-year growth.
The study includes the executive summary along with the market overview and brief introduction on the market. The report also provides value chain analysis, qualitative and quantitative factors, and macro and micro economic factors influencing the growth in the water sink market. The new report published by PMR also includes details on global sales and demand in the water sink market along with region-wise sales and demand. The report also includes various segments in the water sink market to offer better understanding of the market.
The water sink market is segmented on the basis of product type, base material, end-use, sales channel, and region. Based on the product type, the market is bifurcated into pedestial, drop-in, under mount, top mount, wall mount, and other product types. On the basis of base material, the water sink market segments include stainless steel, fireclay, copper, cast iron, quartz, and other base materials.
In terms of end-use, the water sink market is divided into foodservice, household, healthcare, educational institutes, hospitality, corporate & government offices, shopping malls, public toilets, clubs and resorts, and others. Based on the sales channel, the water sink market is segmented into multibrand stores, distributors/wholesalers, specialized stores, franchise stores, and online retail.
Region-wise, the water sink market is bifurcated into Europe, Latin America, North America, Asia Pacific Excluding Japan (APEJ), Japan, and the Middle East and Africa (MEA). The regions are further segmented into countries including all the key countries in each region included in the report. All the segments in the water sink market included in the report are based on the primary and secondary research including data obtained through journals and information on the market by conducting interviews with industry experts.
The data on all the segments and sub-segments is provided in the form of volume, value, CAGR, and year-on-year growth. Meanwhile, in terms of region-wise analysis, the report focuses on the current scenario of the water sink market in key regions and growth opportunities for leading players in various regions. The segments in the water sink market have also been analyzed on the basis of Basis Point Share (BPS) to offer better understanding of the contribution of each segment in the growth of the market. The report also offers data on the water sink market in terms of incremental opportunity, as it can help in the evaluation of the scope of growth opportunity in the water sink market along with the identification of the high growth segments.
The report also sheds light on the competitive landscape in the water sink market. The report provides detailed profiles of all the leading players in the water sink market along with the dashboard view of the companies. The study also offers details on the product portfolio, company overview, financial overview, and latest developments by key players in the water sink market.
Growing Innovation and Unique Product Launches to Drive Water Sink Market Growth
The water sink market has witnessed immense growth in terms of designs and new materials to meet the preference of customers. Manufacturers are focusing on the innovation and new product development in the water sink market. Stainless steel sinks, acrylic kitchen sinks, solid surface sinks, copper sinks, stone, granite, and marble sinks are some of the most popular sink materials produced by manufacturers.
Manufacturers in the water sink market are also using mixed metals to produce water sink products. Water sinks with mixed brushed nickel, mixed brass fixtures and chrome fixtures are being produced to offer a unique look in kitchens and bathrooms. Manufacturers are also offering a wide range of color, style, and size choice of customers. Along with the design, more functionality is also being added in water sink to provide convenience and make it easy to use.
High Preference for Farmhouse Water Sinks by Customers in Water Sink Market
In the last few years, the demand for farmhouse water sink also known as apron sinks has grown significantly in the water sink market. Owing to more deep capacity and cleaning efficiency, farmhouse water sinks are increasingly becoming the part of modern living. Stainless steel farmhouse water sinks are a highly preferred choice of designers and architects, especially in kitchen design, moreover, easy to clean, makes stainless steel first choice for customers looking for strict hygienic conditions.
With the growing demand for farmhouse water sinks in modern kitchen design, manufacturers in the water sink market are developing farmhouse sinks with single, double, and triple compartment versions.
Increasing Demand for Natural Colors and Nature-Inspired Designs and Prints
The manufacturers from the past few years are focusing on new sink colors, prints, and designs inspired by nature. Meanwhile, adopting a more eco-friendly approach, manufacturers in the water sink market are using natural elements and earthen luxury components, used in the residential and hospitality industry.
In recent years, stone sinks have become popular choice in the modern bathrooms and luxury hotels. Manufacturers are also developing sinks from solid natural stone in various shapes, colors and size as per the need of the customers. In recent years, with advancement in technology allowing special treatment of woods has led to the increasing use of wood for bathroom water sinks. The demand for bamboo sinks and coppers sinks is also on a rise in water sink market.
Smart Water Sinks Leading to Less Water Wastage Gaining Traction in Water Sink Market
With technological advancement, manufacturers in the water sink market are also incorporating smart control systems making it easy to control temperature of water, avoid water wastage, along with touch button. New features are being offered to control the temperature and volume of tap water in kitchen and bathroom. Moreover, alert systems are also being added in advanced water sinks to avoid overflow of the water.
Manufacturers in the water sink market are also adding sensors in water sinks, where it can detect when object is kept under it and automatically turn on and shut off the water. Motion sensors are being added on a large scale in water sinks to save the water and allowing user to turn on and off the sink without touching it.
Rise in Monochrome Style Bathroom Design Trend
The monochrome style bathroom design including the black and white design and color in bathroom has become a classic and contemporary style choice. Along with this, curved and irregular patterns including monochrome patchworks and floral designs are also being used on a large scale. In order to match the style of monochrome bathroom, manufacturers in the water sink market are focusing on developing new sinks with shades of white and black along with the shiny and matte finish.