SAN FRANCISCO, July 9, 2019 /PRNewswire/ -- 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.
Key suggestions from the report:
- 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
Read 80 page research report with TOC on "Kitchen Sinks Market Size, Share & Trends Analysis Report By Material (Metallic, Granite), By Number of Bowls (Single Bowl, Double Bowls), By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/kitchen-sinks-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.
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)
- Kitchen Sinks Number of Bowls Outlook (Revenue, USD Billion, 2015 - 2025)
- Single Bowls
- Double Bowls
- Multi Bowls
- Kitchen Sinks Regional Outlook (Revenue, USD Billion, 2015 - 2025)
- North America
- Asia Pacific
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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