Kitchen Sinks Market Hit USD 3.1 billion by 2025: Grand View Research, Inc.
The global kitchen sinks market
size is expected to reach USD 3.1 billion by 2025, expanding at a CAGR of 3.7%,
according to a new report by Grand View Research, Inc. Surge in the number of
households in various countries, increasing hotels and restaurants across the
globe, and rising disposable income are some of the prominent factors for the
growth of this market.
Metallic sink is
the most preferred material type and it accounted for 52.4% share of the
overall revenue in 2018. They are available in various metals such as stainless
steel, cast iron, and copper. Stainless steel sink is the most famous one owing
to its characteristics such as corrosion resistance, fire and heat resistance,
hygiene, strength to weight advantage, ease of fabrication, impact resistance,
antibacterial value, and long-term value. Moreover, availability of metallic
sinks in a variety of installation types, including under mount and top mount,
is driving the segment.
The single bowl
segment dominated the kitchen sink market and accounted for the majority of the
share in 2018. Growing need for a nucleated family across the globe is
increasing the demand for the lesser number of bowls in the kitchen sinks for
the cleaning and washing purposes. Demand has also increased after the invention
of dishwashers as there is no need for separate cabinet in one sink for dirty
utensils and clean water for rinsing in the other. Other factors such as space
requirement for installations, number of people using kitchen at a time, and
the way people tend to clean up are also some of the deciding criteria for the
installation of kitchen sinks.
Asia pacific
dominated the market with a share of more than 44.0% in 2018. In Asia Pacific,
China contributes to the majority of share and is expected to register a CAGR
of 4.0% over the forecast period. Demand is increasing in the region due to
rise in the number of households. As per the survey, almost more than 450
million houses are registered in China. Luxury lakeside homes and high rise
apartments are coming up fast in China, leading to the growth of this market.
In
depth research report on Kitchen Sinks Market
Further key findings from the study suggest:
·
By material, the metallic segment is projected to ascend at a
CAGR of 3.9% over the forecast period
·
By number of bowls, single bowl held 37.9% share of the
overall revenue in 2018
·
Asia Pacific is expected to emerge as the fastest growing
region in kitchen sink industry with a CAGR of 4.3% over the forecast period
Grand View Research
has segmented the global kitchen sink market on the basis of material, number
of bowls, and region:
Kitchen Sinks Material Outlook (Revenue, USD Billion, 2015 -
2025)
·
Metallic
·
Granite
·
Others
Kitchen Sinks Number of Bowls Outlook (Revenue, USD Billion,
2015 - 2025)
·
Single Bowls
·
Double Bowls
·
Multi Bowls
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About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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