What Is The Projected Market Size And Growth Rate Of The Bathroom Products Market? January 12, 2022
Transparency Market Research delivers key insights on the global bathroom products market. In terms of revenue, the global bathroom products market is estimated to expand at a growth rate of ~8% during the forecast timeline, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global bathroom products market report.
In the report, TMR predicts that the global bathroom products market would be largely driven by growing production of bathroom products across the globe and growth in population, which has led to increased adoption of bathroom products globally, mainly in countries such as the U.S, Germany, China, and India that is expected to boost the growth of the bathroom products market in the upcoming years.
In the bathroom products market research report, in terms of type, the market has been divided into bathroom basin, bathroom furniture, and bathroom accessories. Bathroom accessories segment held majority market share in terms of volume in 2019, and the same scenario is likely to be witnessed during the forecast years as well. However, economic development will lead to innovations in the construction industry, particularly in terms of residential buildings with improved facilities, which is expected to push the demand for bathroom basins during the forecast period.
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Based on application, the global bathroom products market has been classified into residential and commercial. The increasing construction of commercial spaces such as shopping complexes, shopping malls, and offices has increased the demand for bathroom products. The growth of the construction industry is the major factor responsible for the expansion of the bathroom products market. Home renovation activities are also anticipated to drive the bathroom products market. The residential sector holds a major share of the bathroom products market.