A washbasin is also known as a sink, sinker, hand basin, washbowl. It is mainly a bowl-shaped sink crafted in different shapes and sizes used for handwashing, dishwashing, or other usages. A washbasin is attached to a water tap that allows flow of hot or cold water as per the user's requirement. The washbasin has a drain fitted in the centre for smooth drainage of water. The kitchen washbasin comes with a soap dispenser that assists the user in cleaning the dishware and other utensils with ease. A washbasin is an integral part of society that helps maintain proper hygiene. One of the drawbacks of a washbasin is the drains get blocked if optimum care is not applied. Usage of specific chemical helps in clearing the blockage of the drainage. In some cases, we have to appoint a professional for resolving the issue. Washbasins are used extensively in households and are commonly used in public, corporate, or commercial places.
COVID-19 Impact Analysis
- Countries were forced to impose a lockdown as a result of the COVID-19 pandemic, which halted the construction of new properties and households. As a result, the demand for washbasins fell, but the company remained the top buyer of sanitary wares. The washbasin market has experienced a drop in production due to lack of labor to continue the manufacturing process.
- The primary cause was disruption in the distribution channel, as adequate raw materials could not reach the industries for production; delivery of a sufficient supply of finished products to the dedicated stores was not possible. Consumers had no choice but to go to specialized stores and purchase the washbasin that they required.
Top Impacting Factors
- In the pre-COVID era, the construction of properties, commercial complexes, public toilets, and sanitation blocks was in full force. This factor induced the need for washbasins in bulk quantities and of different shapes as required. The sales of new homes, change in lifestyle, high disposable income, rapid urbanization, and improvement in the standard of living contribute to the growth of the washbasin market. Following the pandemic, construction work was put on hold, obviating the need for washbasins. Consumers are more concerned with meeting their basic needs than with purchasing high-end sanitary wares for decoration.
- The growth of the washbasin market's online sales is lagging and is comparable to that of brick-and-mortar stores. The lack of proper price transparency is a barrier that discourages consumers from purchasing online. While there is still opportunity in the online market, as time passes and lifestyles become more complex, consumers will likely shift to online shopping for convenience. Improved transparency in product details and pricing will encourage customers to purchase online. Companies anticipate experimenting with new ways to reach customers online and act in accordance with the requirements.
Improvement of lifestyle and urbanization leads to a surge in demand
The rise in home sales, adaptation of urban culture, and recognition of the need for premium washbasins to meet esteem needs had compelled washbasin manufacturers to invest in R&D. Companies are bringing innovations to the forefront that expects to meet customers' existing wants and needs. Hotel industries are adapting to transform the ambience for the guests with a royal touch, as they are mainly focusing on the installation of washbasins made of natural stones such as marble, granite, and others.
The Government of India launched Swachh Bharat Mission
"Swachh Bharat Mission" or "Clean India Mission" was initiated by the government of India in 2014. It aimed to eliminate public open defecation and solid waste management in both urban and rural areas. The Government of India started construction of individual household toilet and public toilets; thus, increasing the installation of washbasins, which drives the market growth.
An omni-channel strategy is beneficial for the growth of the washbasin market
Customers are opting for more convenient ways of buying washbasin products by shifting to e-commerce purchases. Lack of transparency of details and inconsistent pricing are affecting the consumer to make a buying decision. As the world is moving toward digital business and mostly all transactions are occurring on the digital platform. It is an opportunity for the companies to interact with the consumers to recognize their wants. A clear message about the product detail and proper mentioning of the price without any hidden charges will motivate the customer to approach the purchase.
Key Benefits of the Report
- This study presents the analytical depiction of the washbasin industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the washbasin market share.
- The current market is quantitatively analyzed to highlight the washbasin market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed washbasin market analysis on the basis of competitive intensity and how the competition will take shape in coming years
Questions Answered in the Report
- Who are the leading market players active in the washbasin market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Washbasin Market Report Highlights
By Price Point
By Distribution Channel
Key Market Players
Hansgrohe SE, Roca Sanitario SA, Kohler Co, Kaies Sanitary Ware Co. Limited, LIXIL Corporation, Villeroy & Boch AG, Toto Ltd., Jaquar Group, Hindware Sanitaryware & Industries Limited, Duravit AG