LONDON--(BUSINESS WIRE)--The global bathroom accessories market is expected to post a CAGR of over 5% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Growing awareness about sanitary hygiene has encouraged consumers to ensure the maintenance of hygienic bathrooms. Hygienic bathrooms include several accessories such as washbasins, tissue holders, towel hangers, soap dispensers, toothbrush holders, trash cans, and paper towel machines. Also, the importance of good sanitary and personal hygiene practices for leading a healthy life is driving the demand for bathroom accessories such as antimicrobial toilet seats. This is also encouraging vendors such as Kohler, TOTO and others to offer antimicrobial toilet seats. Therefore, growing awareness about the hygiene market will drive the growth of the bathroom accessories market during the forecast period.
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As per Technavio, the advent of smart bathrooms will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2020-2024.
Global Bathroom Accessories Market: Advent of Smart Bathrooms
Smart bathrooms are built with accessories that can sense voice and function as per the instructions. These smart bathrooms allow users to control the lights, security, and temperature through smartphones and other gadgets. In addition, these bathrooms incorporate convenient to use digital bathroom accessories such as digital faucets to conserve water and energy. Products like digital faucets include features such as digital temperature control settings and touchless technology. Furthermore, smart bathrooms are also equipped with digital shower panels with an LCD to help the user control the flow of water from the shower, play music, and set the water temperature. Thus, the growing popularity of smart bathrooms in developed and emerging economies is further likely to drive the bathroom accessories market growth during the forecast period.
“Growth of the housing and hospitality sector will boost the demand for premium bathroom accessories which will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Bathroom Accessories Market: Segmentation Analysis
This market report segments the global bathroom accessories market by distribution channel (offline and online) and geography (APAC, Europe, MEA, North America, and South America)
APAC led the bathroom accessories market share in 2019, followed by Europe, North America, South America, and MEA, respectively. Factors such as the increase in construction activities, surge in concerns over personal hygiene, and growth of the hospitality industry are expected to drive the market in the region. Furthermore, government initiatives and the presence of various manufacturing companies in India and China are projected to increase the construction of commercial spaces and public offices, which will drive the growth prospects of the market during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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