LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global toilet tank market to grow at a CAGR of over 3% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global toilet tank market for 2017-2021. To calculate the market size, the study considers the revenue generated from the sales of toilet tanks at the manufacturer level.
Japan is the hub of technology that defines the modern lavatorial experience, which has urged the other emerging and prominent vendors to design and adapt to eco-friendly toilet tanks. Toilet tanks are associated with water wastage and contamination based on the flush mechanism; many companies are undertaking to offer sophisticated toilet tank technologies to curtail wastage while Japan has major vendors bringing newer technology. The major vendors in this market such as Toto, Kohler, Lixil, and Geberit offer tanks that are certified by the EPA.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global toilet tank market:
- Introduction of eco-friendly toilet tanks
- Increase in commercial buildings
- Demand for portable toilets
Introduction of eco-friendly toilet tanks
The adoption of eco-friendly toilet tanks has increased in the recent years. For instance, Japanese toilet makers offer environmentally friendly new models that use less than 5.5 liters per flush, compared to 13.5 liters deployed by tanks designed a decade ago. In APAC, the sanitation is the most underpenetrated market especially in countries such as India. Efforts are put from the government's side such as Swachh Bharath Abhiyan for improving the rural and semi-urban sanitation.
Sarah Haque, a lead analyst at Technavio, says, “The program came up with a solution for low-cost toilet called as twin pit pour flush system model which addressed the issue of water crises in rural areas. The solution also meets the health and hygiene standards thereby paving the way for much eco-friendlier toilets.”
Increase in commercial buildings
In 2015, there was a huge demand for the commercial buildings such as office spaces, and the demand continues to grow in the coming years. In the next five years, it is projected that the demand for commercial complexes will increase due to the anticipation of stronger yield in corporate profits over the years. The commercial buildings include offices, hospitals, universities, hotels, and heavy industry buildings.
“In the US, the commercial buildings are growing at a faster pace within 2016 compared with the previous year. Several factors such as regulations, inexpensive capital, demographics, and technology contribute to the rise in a number of commercial buildings,” adds Sarah.
Demand for portable toilets
The need for safe and adequate toilet facilities is recognized worldwide especially in the emerging markets driving the need for the installation of portable toilets. For instance, the usage by the industrial end users accounts more than 3 million portable toilets in developing countries such as India. In 2013, over 600 million people had no access to toilets in the National Capital Region of Delhi which drove the market for the sanitary ware products including toilet tanks.
Portable toilets are in high demand in the market due to an increase in construction activities and the underpenetrated sanitation in rural areas. Vendors of portable toilets such as Shorelink International offer products for outdoor and leisure market, including those for the construction industry.
Top vendors:
- Toto
- Kohler
- Lixil
- Geberit
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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