Portland, OR, Oct. 31, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global kitchen sinks market generated $3.3 billion in 2021, and is projected to reach $4.9 billion by 2031, growing at a CAGR of 4.3% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $3.3 billion |
| Market Size in 2031 | $4.9 billion |
| CAGR | 4.3% |
| No. of Pages in Report | 300 |
| Segments Covered | Material, installation, bowl, end-user, and region. |
| Drivers | Increase in the standard of living. |
| Increase in the number of hotels, restaurants, and cafes (HoReCa). | |
| Opportunities | Rapid expansion in the building industry. |
| Growth in the popularity of cloud kitchens and food delivery channels. | |
| Restrains | Fluctuating prices of raw materials. |
COVID-19 Scenario:
- The outbreak of the COVID-19 has had a negative impact on the growth of the global kitchen sinks market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the closure of various manufacturing facilities, including those of kitchen sinks and other kitchen product. In addition, there was delay or postponement of building and constructions activities during the pandemic, which adversely impacted the growth of the market.
- Furthermore, shortage of workforce and lack of raw materials due to strict ban on import and export of items further aggravated the impact on the market.
- These restrictions were imposed by the government so as to curb the spread of the virus during the pandemic.
- However, the market is expected to recoup.
The report offers detailed segmentation of the global kitchen sinks market based on material, installation, bowl, end-user, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
Based on material, the metal segment held the majormarket share in 2021, holding more than four-fifths of the global kitchen sinks market share, and is expected to maintain its leadership status during the forecast period. The non-metal segment, on the other hand, is expected to cite the fastest CAGR of 5.0% during the forecast period.
Based on installation, the drop-in/top mount segment held the largest market share in 2021, holding nearly two-fifths of the global kitchen sinks market share, and is expected to maintain its leadership status during the forecast period. The farmhouse/apron-front segment, on the other hand, is expected to cite the fastest CAGR of 4.8% during the forecast period.
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Based on bowl, the single segment held the majormarket share in 2021, holding more than three-fifths of the global kitchen sinks market share, and is expected to maintain its leadership status during the forecast period. The multiple segment, on the other hand, is expected to cite the fastest CAGR of 5.1% during the forecast period.
Based on end-user, the commercial segment held the huge chunk of market share in 2021, holding nearly three-fourths of the global kitchen sinks market share, and is expected to maintain its leadership status during the forecast period. The residential segment, on the other hand, is expected to cite the fastest CAGR of 4.7% during the forecast period.
Based on region, the market across Asia-Pacific region held the majormarket share in 2021, holding more than one-third of the global kitchen sinks market share, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 4.7% during the forecast period. The report also analyses other regions such as Europe, North America, and LAMEA.
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The key players analyzed in the global kitchen sinks market report include Dornbracht, Duravit AG, Kohler Co., Ruvati, Elkay Manufacturing Company, Franke Management AG, Julien Inc., Delta Faucet Company, Roca SanitarioSA , House of Rohl, Acrysil Ltd., BLANCO America, Inc., Huida Sanitary Ware Co.,Ltd, Crown Products Ltd, and Oliveri Solutions Pty Ltd.
The report analyzes these key players in the global kitchen sinks market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
