LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global shower heads and systems market to grow at a CAGR of almost 5% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global shower heads and systems market for 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
Significant improvement in the retail distribution channel has resulted in the development of a variety of distribution channels for sanitary-ware products. Product innovation and extension of product lines by the vendors result in product premiumization. Customers these days demand products that are both durable and stylish, and they are willing to pay a premium price for high-end products. Hence, vendors launch different designer collections in shower heads and systems to attract more customers.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global shower heads and systems market:
- Product innovation and wide product assortment
- Growth in home improvement market
- Rise in demand from emerging markets in APAC
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Product innovation and wide product assortment
The shower heads and systems are available in different varieties due to the continuous innovation and product development by the vendors. Manufacturers believe in product differentiation, and they emphasize on developing new innovative products. Due to the changing lifestyle, growing trends, and preferences of the customer, they demand more modern and up-to-date trendy and innovative products. Design-savvy customers prefer to purchase modern-designed shower heads and systems that can enhance the bathroom look as well.
Poonam Saini, a lead retail goods and services research analyst at Technavio, says, “Vendors consider the preferences of the customers and develop the product accordingly, which also results in product premiumization. Additional features in the shower heads and systems trigger the price of these products. To gain the competitive edge, competitors focus on developing innovative features and technology to be used in the shower heads and systems. Also, saving water is a challenging concern on which companies are focusing to develop such technology that can help in less water wastage and deliver full shower experience to the customers.”
Growth in home improvement market
The growing urbanization, globalization, changing tastes and preferences, and increase in expenditure on home remodeling have driven the growth of the home improvement market, globally. Customers are becoming design-savvy and participate actively in the renovation of their houses to build homes that are more attractive and modern. The main areas that get remodeled as per the consideration of the customers are the kitchen and the bathroom.
“The home improvement market is significantly fragmented and provides growth opportunities to the manufacturers of bathroom fixtures, which develop distinct designs and patterns in shower heads and systems, imparting an attractive and modern look to the bathroom. With the rising demand for lifestyle-oriented remodeling of home and improved standard of lifestyle, the home improvement has positioned itself as a priority in the mind of the customer,” adds Poonam.
Rise in demand from emerging markets in APAC
Increasing urbanization, rising spending power, and growing awareness of trendy designs in shower heads and systems are driving the demand for such products among the customers in the emerging markets of APAC. Therefore, the manufacturers are emphasizing on developing innovative and affordable shower heads and systems for the customers in the emerging markets in APAC. China, India, Indonesia, and Thailand are some of the emerging markets for the vendors.
Jaquar, Kohler, Hindware Homes, and LIXIL Group are some of the popular players in the shower heads and systems market in APAC. The rising disposable income also plays an important role in the rising demand for high-quality products among the customers in the emerging markets.
Top vendors:
- Kohler
- LIXIL Group
- Masco Corporation
- Rexnord Corporation
- Spectrum Brands
- Vigo Industries
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