Market Research Report
India Bathrooms 2020
|Published by||BRG Building Solutions||Product code||941845|
|Published||Content info||259 Pages
Delivery time: 1-2 business days
|India Bathrooms 2020|
|Published: March 30, 2020||Content info: 259 Pages||
This report provides an in-depth analysis of the Indian bathroom market including the monitoring of recent trend patterns and demand drivers, plus substantiated volume forecasts for the next 5 years.
The financial year 2019-20 started out with slow GDP growth compared to the 2018. The slow down started in Q1 of Financial Year (FY) 2019-20 when India recorded its slowest growth rate in the past six year. Despite slow economic growth, in 2019 India was fifth largest economy in terms of GDP and third-largest in terms of purchasing power parity (PPP).
The Indian synthetic bath market experienced significant growth in 2019 compared to the previous year, mainly due to the high demand from the residential sector. A positive trend was observed in the shower tray market compared to previous year. Sanitary ware sales witnessed an overall decline in 2019. This was mainly because of a large drop in the WC market, which in turn witnessed decline mainly due to reduced squat type WC sales. A considerable volume of WC installations were attributed to the government initiative, Swachh Bharat Abhiyan (SBA) or Clean India Movement since 2014, which had led to growth in the rural regions of the country. Market growth for faucets was significant but slower than expected in 2019. This is attributed in a large part to slow growth in the new housing sector. The shower accessories market has continued to witness a growth. The replacement market accounted for a significant part of the growth in sales of shower accessories and this trend continued in 2019 as well. As with most other market segments of the Indian bathroom and kitchen market, throughout 2019 demand for kitchen sinks grew significantly. Despite the slowdown in demand emanating from Tier 1 cities, demand from individual households and small cities continued to remain strong during the year.
The outlook to 2020 currently seems negative. The global pandemic COVID-19 is affecting both the construction and manufacturing industries at large. The magnitude of damage caused by COVID-19 will depend on the situation in the second half of 2020. Various industries are facing financial uncertainty, and it is expected that it may take more than 6-8 months for these companies to normalise their operations.
This report focuses on the following product categories: