According to a recent report by Future Market Insights (FMI), the water sink market is expected to surpass a valuation of US$ 45.9 Bn in 2022 and at a CAGR of approximately 2.9% through 2027.
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.
Impact of COVID-19 on the Market
The COVID-19 epidemic impacted various industries worldwide, even the kitchen fixtures industry. The kitchen fixtures market saw a decline in demand in the mid-months of 2020, due to government restrictions imposed globally, furthermore closure of manufacturing plants disrupted the overall supply chain.
However, despite of the slowdown in the initial months of the year 2020, the kitchen fixture market saw a surge in demand during the last months of 2020 due to increasing commercial as well as residential projects. Besides this, the growing penetration of disease further encouraged the government organizations especially in the developing countries, to take hygiene factor into serious consideration in various public areas.
The government bodies have already proposed the installation of public toilets and other fixtures wherever necessary. Thus the installation of such public toilets and bathroom are likely to trigger demand for various water sink products especially drop-in water sinks.
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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.
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
By Base Material :
- Stainless Steel
- Cast Iron
By End Use :
- Corporate & Government Offices
- Educational Institutes
- Public Toilets
- Shopping Malls
- Clubs &Resorts
By Sales Channel :
- Wholesalers/ Distributors
- Specialty Stores
- Multi-brand Stores
- Direct Sales
- Online Retailers
- Other Sales Channel
By Region :
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
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