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Global Kitchen Sinks Market to reach USD 4.46 billion by 2028

Global Kitchen Sinks Market Size study, By Material (Metallic, Granite, Others), By Number of bowls (Single Bowl, Double Bowl, Multi Bowl), and Regional Forecasts 2022-2028

Product Code: OIRHG-99413071
Publish Date: 27-09-2022
Page: 200

Global Kitchen Sinks Market is valued at approximately USD 3.28 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.5 % over the forecast period 2022-2028. The Kitchen Sinks is commonly used in houses, hotels, and restaurants for cleaning used utensils, hands, and dishwashing. Sinks are available in a different types of materials variety such as stainless steel, cast iron, and copper among others. The growing expansion of the Hotel & Restaurant industry and rising demand for modular and smart kitchens as well as strategic initiatives from leading market players are key factors accelerating the market growth. For instance, according to Statista – as of 2022, the revenue in the global Hotels segment is valued at USD 348 billion, and the revenue is projected to show annual growth of 7.99% between 2022 and 2026, resulting in a projected market volume of USD 473.2 billion by 2026. Moreover, leading market players are working toward new product launches to leverage the increasing demand for Kitchen Sinks. For instance, in January 2022, Hafele launched its new range of handmade ARGENTO Kitchen Sinks made of stainless-steel grade 304 and come in deep bowls with depths ranging from eight to 10 inches. This new range of sink would be available in different sizes and configurations to meet the requirements and design preferences of the user. Also, increasing investment in home renovation projects and the growing trend of nuclear families worldwide would create lucrative growth opportunities for the market during the forecast period. However, high installation & maintenance costs as well as the volatile cost of raw materials would impede the growth of the market over the forecast period of 2022-2028.

The key regions considered for the global Kitchen Sinks Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-Pacific is the leading region across the world in terms of market share due to the increasing urbanization as well as the presence of leading regional market players in the region. Whereas the Asia Pacific would be the fastest growing region owing to factors such as increasing demand for modular and smart kitchens as well as thriving growth of the Hotel & Restaurant industry in the region.

Major market players included in this report are:
Ruvati USA
Kohler Co.
Zuhne
Frigidaire
Swanstone
Acrysil Limited
AGA
Duravit AG
Dornbracht
Roca

The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Material
Metallic
Granite
Others
By Number of Bowls
Single Bowl
Double Bowl
Multi Bowl
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Kitchen Sinks Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
1.2.1. Global Kitchen Sinks Market, by Region, 2020-2028 (USD Billion)
1.2.2. Global Kitchen Sinks Market, by Material, 2020-2028 (USD Billion)
1.2.3. Global Kitchen Sinks Market, by Number of Bowls, 2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Kitchen Sinks Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Kitchen Sinks Market Dynamics
3.1. Kitchen Sinks Market Impact Analysis (2020-2028)
3.1.1. Market Drivers
3.1.1.1. Growing expansion of Hotel & Restaurants industry.
3.1.1.2. Rising demand for modular and smart kitchens
3.1.1.3. Strategic initiatives from leading market players.
3.1.2. Market Challenges
3.1.2.1. High cost associated with Kitchen Sinks.
3.1.2.2. Volatile cost of raw materials.
3.1.3. Market Opportunities
3.1.3.1. Increasing investment in home renovation projects.
3.1.3.2. Growing trend of nuclear families worldwide.
Chapter 4. Global Kitchen Sinks Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global Kitchen Sinks Market, by Material
6.1. Market Snapshot
6.2. Global Kitchen Sinks Market by Material, Performance – Potential Analysis
6.3. Global Kitchen Sinks Market Estimates & Forecasts by Material, 2018-2028 (USD Billion)
6.4. Kitchen Sinks Market, Sub Segment Analysis
6.4.1. Metallic
6.4.2. Granite
6.4.3. Others
Chapter 7. Global Kitchen Sinks Market, by Number of Bowls
7.1. Market Snapshot
7.2. Global Kitchen Sinks Market by Number of Bowls, Performance – Potential Analysis
7.3. Global Kitchen Sinks Market Estimates & Forecasts by Number of Bowls 2018-2028 (USD Billion)
7.4. Kitchen Sinks Market, Sub Segment Analysis
7.4.1. Single bowl
7.4.2. Double bowl
7.4.3. Multi bowl
Chapter 8. Global Kitchen Sinks Market, Regional Analysis
8.1. Kitchen Sinks Market, Regional Market Snapshot
8.2. North America Kitchen Sinks Market
8.2.1. U.S. Kitchen Sinks Market
8.2.1.1. Material estimates & forecasts, 2018-2028
8.2.1.2. Number of bowl estimates & forecasts, 2018-2028
8.2.2. Canada Kitchen Sinks Market
8.3. Europe Kitchen Sinks Market Snapshot
8.3.1. U.K. Kitchen Sinks Market
8.3.2. Germany Kitchen Sinks Market
8.3.3. France Kitchen Sinks Market
8.3.4. Spain Kitchen Sinks Market
8.3.5. Italy Kitchen Sinks Market
8.3.6. Rest of Europe Kitchen Sinks Market
8.4. Asia-Pacific Kitchen Sinks Market Snapshot
8.4.1. China Kitchen Sinks Market
8.4.2. India Kitchen Sinks Market
8.4.3. Japan Kitchen Sinks Market
8.4.4. Australia Kitchen Sinks Market
8.4.5. South Korea Kitchen Sinks Market
8.4.6. Rest of Asia Pacific Kitchen Sinks Market
8.5. Latin America Kitchen Sinks Market Snapshot
8.5.1. Brazil Kitchen Sinks Market
8.5.2. Mexico Kitchen Sinks Market
8.6. Rest of The World Kitchen Sinks Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Ruvati USA
9.2.1.1. Key Information
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments
9.2.2. Kohler Co.
9.2.3. Zuhne
9.2.4. Frigidaire
9.2.5. Swanstone
9.2.6. Acrysil Limited
9.2.7. AGA
9.2.8. Duravit AG
9.2.9. Dornbracth
9.2.10. Roca
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

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Data Collection:
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Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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