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
- Growth of Global Construction Sector Propels Market Growth: The global construction industry is anticipated to surpass market value of US$ 15.2 Trn by 2030. Fast-paced urbanization is one of the salient drivers of the industry. Growth in global population, development of several industries, and rise in demand for new commercial, industrial, and residential properties is anticipated to bolster toilet market development in the near future.
- Increase in Development of Smart Toilets Boosts Market Expansion: Manufacturers in the global market are engaged in development of next-generation smart toilet products that feature enhanced functionalities. These toilets feature functions, such as enhanced comfort, sensor-based seats, and heated toilet seats. Increase in consumer preference for smart homes is anticipated to boost the demand for smart toilets and propel market growth in the next few years.
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Toilet Market - Growth Drivers
- Growth of the global construction sector is driving the global toilet market
- Increase in concerns amongst individuals regarding maintaining personal hygiene is propelling the industry
- Rise in the global population, as well as increase in income of the middle-class population is augmenting the market
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: Segmentation
Toilet Market, by Product Type
- One-piece
- Two-piece
- Freestanding Bidet
Toilet Market, by Shape
- Elongated
- Round
- Others
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Toilet Market, by Installation
- Wall Hung
- Close Coupled
- Back to Wall
Toilet Market, by Flushing Mechanism
- Single Flush
- Dual Flush
Toilet Market, by Price
- Low
- Medium
- High
Toilet Market, by End-user
- Residential
- Households
- Apartments
- Commercial
- Government Projects & Buildings
- Corporate Projects
- Others
Toilet Market, by Distribution Channel
- Online
- E-commerce Websites
- Company-owned Websites
- Offline
- Specialty Stores
- Independent Retailers
Toilet Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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