Bathroom fitting industry is a
booming industry which has huge market of over 15 billion dollars in
2006 and this is expected to grow year after year. Every year companies
are coming up with new products or old products with new designs and
features. As the population of the world is increasing, people needs
more houses. Government sector and also private sector is investing huge
amount of wealth in this sector. Due to rapid urbanization and growth of
number of residential facilities the demand of bathroom equipment market
is rising. The rising income of the people and the increasing of
purchasing power parity have also contributed in the growth of this
industry. The third world countries especially India and China are
emerging as major market for bathroom fittings.
Industry Structure
Bathroom fitting industry is a mix of small, medium and large
manufacturers. Small manufacturer products are low end products that
caters to local and small section of the population. Whereas large scale
manufacturers are big MNCs and corporate houses. The segments in which
this industry can be identified are
- Industry is mainly located in organized sectors. But in
developing nations it is located in both organized and unorganized
sectors.
- Both domestic and the foreign manufacturers are playing major
roles in supplying the bathroom products.
- Importers and suppliers of bathroom equipment market.
Key Drivers of the Industry
Economy works on the principle of demand and supply. Every industry is
drive by the market forces and the market forces are affected by various
forces. Key drivers infact generated demand for the industry. Bathroom
fitting industry is no exception to this rule. This industry is too like
other industries are driven by various market forces which are as
follows:
- Rising Income of the people and hence their purchasing power
parity (PPP)
- The rapid urbanization due to which the demand for bathroom
fittings is growing
- More and more investment in the construction sector both by
domestic players and the foreign MNCs.
- Growing awareness among the people regarding bathroom
architecture and fittings.
- Advertisement especially in developing nations is key factor in
creating product awareness and hence the demand .
