The latest market report published by Credence Research, Inc. “Global Luxury Sanitary Ware Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The Global Luxury Sanitary Ware Market generated revenue of around USD 2,418.39 million in 2020 and is anticipated to grow at a CAGR of over 6.24% during the forecast period from 2021 to 2027 to reach around USD 4,172.06 million in 2027. While, cumulative growth opportunity presented by the global Luxury Sanitary Ware is around USD 25 billion during 2021 to 2027.
Global Luxury Sanitary Ware Market, 2020 – 2027 (USD Million)
Growing Residential Construction
Strong growth in residential construction and increasing premium residential projects across the world has been resulted into mounting demand for Luxury Sanitary Ware. Population of millionaires has been reached to highest ever and their demand for luxurious goods is never ending. Moreover, increasing number of five star hotels and other commercial buildings made for offering luxury experience is on the rise.
Wash Basins to Remain Leading Product Type
Cistern, Toilet Sink, Pedestal and Wash Basin are major types of Luxury Sanitary Ware. Wash basin is one of the leading types of Luxury Sanitary Wares used in residential and commercial buildings. It accounted for over 20% share in the total revenue generation in 2020. Cistern is another important segment which is likely to grow at a rapid pace over the forecast period.
Ceramic is Material of Choice
Ceramic, Acrylic Plastic, Pressed Metal and Others are major materials used in the manufacturing of Luxury Sanitary Ware. Ceramic is one of the widely preferred and material of choice among high net worth people. Ceramic has historical importance of being used in Luxury Sanitary Ware. One of the oldest Luxury Sanitary Ware found was dated back 1,500 BC. However, acrylic plastics is also increasing in adoption among end-users.
Uniqueness and Premium Quality is Key to Success
Key players operating in the global Luxury Sanitary Ware industry included but not limited to HSIL, Roca, Villeroy & Boch, Queo Bathrooms, Artize, Grotto, Jado, Maison Valentina, Dornbracht, TOTO and VITRA. Major focus of the leading players is to offer high quality premium products that meet demand from end-users.
Europe to Hold Major Share
Europe is one of the leading markets for Luxury Sanitary Ware with strong demand from UK, Germany, France, Italy and Spain. UA< Saudi Arabia, Oman and Qatar are important markets for Luxury Sanitary Ware in Middle East. While U.S. is single largest market for Luxury Sanitary Ware. China, South Korea and Japan reporting steady growth, India is emerging as rapidly growing market place for Luxury Sanitary Ware.
Global Luxury Sanitary Ware Market by Type, 2015 – 2027
- Toilet Sink
- Wash Basin
Global Luxury Sanitary Ware Market by Product Type, 2015 – 2027
- Acrylic Plastic
- Pressed Metal
Global Luxury Sanitary Ware Market by End-user, 2015 – 2027
Global Luxury Sanitary Ware Market by Company, 2015 – 2027
- Villeroy & Boch
- Queo Bathrooms
- Maison Valentina