PORTLAND, Oregon and PUNE, India, March 20, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, Flushing Systems Market by Type, Technology, Installation Type, and End Users: Global Opportunity Analysis and Industry Forecast, 2014-2023, the flushing systems market was valued at $2,270.47 million in 2016, and is projected to reach at $2,719.14 million by 2023, growing at a CAGR of 2.67% from 2016 to 2023. LAMEA is expected to be the leading contributor to the global flushing systems market, followed by Asia-Pacific and Europe.
The increase in hygiene awareness and growth in propensity to spend on toilets as well as their accessories is expected to drive the demand for the flushing systems market during the forecast period. Also, the rapid urbanization especially in Asian and African countries driving the construction of residential and commercial development is also anticipated to fuel the market growth in the coming years. However, the unpredictable fluctuations in foreign currencies exchange hinder the growth of the market.
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In 2016, the gravity flush-based flushing systems, accounted for the maximum revenue share in the overall flushing systems market by technology owing to their lower cost of operations and large market penetration. However, the tornado flush-based flushing systems is expected to provide profitable opportunities to the manufacturers owing to their superior technology resulting in efficient flushing through low water consumption. Based on installation type, the rear wall mounting segment is expected to grow at a fastest CAGR of 3.19% owing to their ability to integrate within the wall resulting in more spacious restrooms. Moreover, the sensor and remote control segments in the flushing systems market is also projected to generate attractive business opportunities during the forecast period (2017-2023).
Asia-Pacific accounted for the major share of the global flushing systems market in 2016 owing to the increase in demand due to rapid urbanization from emerging economies. However, LAMEA is estimated to grow at the highest rate owing to significant increase in population as well as growth in number of residential construction and related projects in the regions.
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Key Findings of the Flushing Systems Market:
- In 2016, the gravity flush type accounted for the maximum revenue and is projected to grow at a notable CAGR of 1.40% during the forecast period.
- The pressure-assisted flushing systems segment accounted for around 18.19% in the flushing systems market in 2016.
- China and India held more than half of the market share in 2016.
The key players profiled in the flushing systems market include Alcaplast, s.r.o., Gaberit AG, Kazema General Trading LLC, Grohe Limited, Roca Sanitario, S.A., Sanipex Group, COTTO, SCHELL GmbH & Co. KG, TOTO Ltd., and Wirquin. Market players have adopted various strategies such as product launch, collaboration & partnership, and acquisition to expand their foothold in the market.
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SOURCE Allied Market Research