About Stainless Steel Sink
Stainless steel sinks are widely being employed in the residential & non-residential settings. Its extensive usage has been observed in bathrooms, kitchens, utility, and laundry rooms. Stainless steel sinks can be availed in different shapes, styles, sizes, & configurations. They may possess single or multiple bowls. The design of the sink may vary from under mount, to top mount. The most striking aspects related with the product may entail easy usage, avoidance of water spillage, and corrosion resistance. Due to widespread applications, stainless steel sink is gaining huge traction across the globe. Global Stainless Steel Sink market is likely to display a significant growth in the near future owing to burgeoning applications and expansion of the scope across different sectors.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that German, Spanish, and United States Vendors will contribute the maximum growth to Global Stainless Steel Sink market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Elkay Manufacturing Company (United States), Franke Holding AG (Switzerland), Fortune Brands Home & Security, Inc. (United States), Kohler Co. (United States), Reginox (The Netherlands), The Teka Group (Switzerland), Blanco (Germany), Delta Faucet Company (United States), Schock GmbH (Germany) and Roca Group (Spain) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Diamond Sink (India), Kruti Engineers Limited (India) and OMOIKIRI (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Stainless Steel Sink market by Type (Single-bowls, Double-bowls and Three-bowls), Application (Residential Kitchens and Commercial Kitchens) and Region.
On the basis of geography, the market of Stainless Steel Sink has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by By Installation, the sub-segment i.e. Self-rimming (drop-in) will boost the Stainless Steel Sink market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Smart sinks may include features such as touchless faucets, water temperature control, and connectivity with smart home systems.
Market Growth Drivers:
Growing Industrialization, Increased Demands across Various End Users and Increasing Disposable Income of people
Challenges:
The increasing competition from alternative materials such as granite composite, fireclay, and quartz
Restraints:
High Cost of mount kitchen sinks
Opportunities:
Growing Opportunities from Emerging markets and Increasing construction activities and infrastructure in Asia-Pacific region
Market Leaders and their expansionary development strategies
In June 2020, Zurn Industries has acquired the assets of Just Manufacturing, an Illinois-based manufacturer of stainless-steel designer and engineered sinks, commercial faucets and accessories. The acquisition will expand product portfolio.
In June 2022,Stala has launched the new sink family Stala*Ultra, which are made with superior quality down to the smallest detail. The sinks represent ultramodern minimalism that suits all kitchen styles. Ultra is a premium sink for those who only want the best. The collection emphasises ease of care, hygiene and usability.
Key Target Audience
Stainless steel sinks Manufacturers, Raw Materials Suppliers, Stainless steel sinks Distributors/Traders/Exporters, Government and Research Organizations, Industry Associations, End Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.