December 13, 2022 13:30 ET | Source: Transparency Market Research Transparency Market Research
Albany, New York, UNITED STATES
Wilmington, Delaware, United States, Dec. 13, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - According to a recent global toilet industry research report, the market is estimated to register a CAGR of 7.6% between 2022 and 2031. The toilet market was valued at US$ 8.3 Bn in 2021 and is projected to reach US$ 17.3 Bn by 2031. Rising awareness regarding benefits of maintaining proper hygiene, cleanliness, and health are propelling the demand for toilets globally. Furthermore, growth in government-sponsored initiatives in several underdeveloped and developing economies are also anticipated to have a positive impact on market expansion in the next few years.
Toilet Market - Key Findings of the Report
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Toilet Market - Growth Drivers
Toilet Market - Key Players
Leading players profiled in the global toilet market research are TOTO Ltd., Huida Sanitary Ware Co., Ltd., Niagara Conservation Corporation, Gerber Plumbing Fixtures LLC, Signature Hardware, Kohler Co., Duravit AG, Jacuzzi Brands LLC SFA, Villeroy Ltd., and Lixil Group. The landscape of the global toilet industry is extremely consolidated owing to the presence of limited number of well-established toilet manufacturers and suppliers. Some players are engaged in growth strategies such as strategic partnerships, collaborations, and extensive R&D activities to enhance their market share.
Key companies strive to increase their funding aimed at conducting extensive research and development activities in a bid to design and develop a new generation of environment-friendly products and solutions. These investments are helping them in expanding their product inventories and attract consumers across all income groups. Furthermore, some manufacturers are also concentrating on mergers and acquisitions in order to facilitate market share expansion. Certain manufacturers also focus on catering to specific demands of their customers, offering innovative products, such as wall-hung toilets and two-piece toilet sets.
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Toilet Market – Regional Growth Assessment
Europe and North America together held the largest market share in 2021. Over 5.8 million units of urinals, bidets, and toilets were sold in 2021 in Europe’s top ten nations. Among these, shower toilets accounted for major market share at 70%. In North America, some of the major drivers of industry growth include increase in trend of residential and commercial renovations, as well as growth of the regional construction sector. Furthermore, the market in North America is also driven by increase in demand for wall-hung toilet products that are easier to maintain and clean than conventional ones. Asia Pacific is estimated to register significant growth rate over the next decade. One of the key drivers of the market in Asia Pacific is the growth in number of initiatives, such as Swachh Bharat Mission, by the Government of India.
Toilet Market, by Product Type
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Toilet Market, by Flushing Mechanism
Toilet Market, by Distribution Channel
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