by The India Ceramic Sanitaryware Market is estimated to be valued at US$ 4345.5936 Mn or Mn in 2023 and is expected to exhibit a CAGR of 13.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Aesthetically pleasing designs and are affordable. Rapid urbanization and rising disposable income have increased spending on home improvement and renovation in India, driving demand for premium branded ceramic sanitaryware. Furthermore, government initiatives such as Smart Cities and Swachh Bharat Abhiyan focusing on public infrastructure development are increasing commercial construction activities in the country.
Market Dynamics:
The India ceramic sanitaryware market is primarily driven by rapid urbanization and growing construction industry in the country. As per statistics, urban population in India is expected to reach ~600 million by 2030 from ~460 million in 2016. This is propelling residential as well as commercial construction activities. Furthermore, government efforts towards rural development through Pradhan Mantri Awas Yojana (PMAY) is also augmenting demand for basic sanitation products in rural areas. Additionally, changing lifestyle and rising disposable income are encouraging consumers to upgrade to premium branded and high-end ceramic sanitaryware. However, availability of cheap substitutes like plastic sanitaryware in semi-urban and rural regions poses a challenge for market players. Industry participants are focusing on expanding rural distribution and offer affordable product portfolio to tap entire demand potential.
Segment Analysis
India Ceramic Sanitaryware Market Growth can be segmented by product type, end-use, and distribution channel. Based on product type, the market is divided into wash basins, water closets (WCs) and others. The others segment includes cisterns, urinals, bidets and lavatories. Here, the wash basins segment dominates with maximum share owing to high replacement rate and changing consumer preferences regarding aesthetic decor.
PEST Analysis
Political: The government initiatives like Swachh Bharat Abhiyan and investments in infrastructure development are positively impacting demand.
Economic: Rising income levels, rapid urbanization, and growth in real estate construction are the key growth drivers.
Social: Changing lifestyle, increasing focus on hygiene and sanitation, and rising health awareness are influential trends.
Technological: Companies are launching high-end, premium, and eco-friendly products leveraging advanced material technology.
Key Takeaways
The India ceramic sanitaryware market is expected to witness high growth, exhibiting CAGR of 13% over the forecast period, due to increasing urbanization, growing construction activities, and expansion of middle-class population. Regionally, the Southern region dominates with maximum share due to high disposable income, improved housing facilities. Key players operating in the India Ceramic Sanitaryware Market are HSIL Ltd, Cera Sanitaryware Ltd., Roca Sanitario, S.A., RAK Ceramics, Duravit AG, Toto Ltd., Jaquar, Golf Ceramics Ltd., Kajaria Ceramics Limited, H & R Johnson, and Villeroy Boch Group. HSIL Ltd captures highest market share owing to wide product portfolio and pan India presence. The India ceramic sanitaryware market size for 2023 is US$ 4345.5936 Mn.
The Southern region dominates the India ceramic sanitaryware market driven by factors like rapid urbanization, improved standard of living, growing disposable income and increasing investments in housing and infrastructure development projects. States like Tamil Nadu, Karnataka and Kerala are major revenue generators.
Key players operating in the India Ceramic Sanitaryware Market are focusing on product launches, expansion strategies and increased marketing spending to increase their market share. HSIL Ltd launched various premium and style products. Cera Sanitaryware Ltd. expanded production capacity to cater growing demand. Duravit AG witnessed highest growth from premium products
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
