Product Code: ETC379104 | Publication Date: Aug 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India wash basins market import shipment demonstrated strong growth with a CAGR of 9.6% from 2020 to 2024. The growth rate between 2023 and 2024 slightly slowed to 8.1%, indicating a stable expansion trend in the market over the years.
The market is expected to grow at a CAGR of 7.6% to reach a value of US$ 969.6 million. This growth can be attributed to factors such as rising disposable incomes, growing urbanization and increasing construction activities across the country, especially in Tier 2 cities and rural areas. Furthermore, increased awareness regarding hygiene and sanitation among consumers has further created demand for various types of wash basins such as single-bowl sinks, pedestal sinks, vessel/countertop sinks and wall hungsinks among others. In terms of sales channels, organized retail outlets are currently dominating the India wash basin market due to their wide product range and presence across multiple locations nationwide.
The wash basins market in India is driven by several key factors. Firstly, the growing focus on modernizing bathrooms and enhancing aesthetics has led to an increased demand for stylish and innovative wash basins. Secondly, the government initiatives to promote sanitation and hygiene, especially in rural areas, have further boosted the demand for wash basins in households and public spaces.
The wash basins market in India faces distinctive challenges that impact its growth and market penetration. One major challenge is the prevalence of unorganized and local manufacturers, leading to quality and consistency issues in the products. Additionally, the market contends with competition from alternative sanitaryware materials like stainless steel and composite materials.
The India wash basins market faced challenges during the COVID-19 pandemic due to disruptions in the construction and real estate sectors. As residential and commercial projects were put on hold, the demand for wash basins declined. Nevertheless, the market showed signs of recovery as construction activities resumed and consumer confidence improved.
The India wash basins market is characterized by prominent players such as Hindware Homes Limited, CERA Sanitaryware Limited, and Kohler India Corporation Pvt. Ltd. These companies manufacture and distribute a variety of wash basins to meet the diverse needs of consumers.