About the Shower Trays Market
Increasing tourism and rise in hotel construction are driving market growth. To accommodate the increasing tourist inflow, government and private investors in many countries are making investments in the development of luxury hotels, resorts, and spas; thus, spurring the demand for shower trays. However, water leakage due to improper installation is a challenge prevalent in the market. Sealant between the tray and tiles should be replaced as silicone sealant deteriorates and perishes over time.
Technavio’s analysts forecast the global shower trays market to grow at a CAGR of 8.54% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global shower trays market for 2016-2020. For the calculation of market size, the report has taken into consideration the sale of shower trays worldwide.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Shower Trays Market 2016-2020
Technavio recognizes the following companies as the key players in the global shower trays market: Duravit, HÜPPE, Kohler, and Porcelanosa.
Other Prominent Vendors in the market are: C.P. Hart Bathrooms, Ceramica Althea, Coram Showers, Drummonds, Eczacıbası (Vitra), Glass1989, Grohe, Lixil, MAAX Bath, MX, Novellini, Polimat, Polysan, Sonas Bathrooms, Teuco, and Villeroy & Boch.
Commenting on the report, an analyst from Technavio’s team said: “One trend that will boost market growth is the increased use of slimline shower trays. Rising trend of minimalism and the desire to create a designer look to bathrooms are resulting in an increased use of slimline shower trays. A slimline shower tray or a low- profile shower tray, creates a sense of space in the bathroom and is perfect for smaller bathrooms where a contemporary look is desired, consuming less space. In addition to their design, these shower trays are manufactured for maximum strength and rigidity to ensure they remain secure and stable.”
According to the report, a key growth driver is an increase in brand awareness and preference for high-end products. An improving economy with rising disposable incomes among the population directly results in increased spending on home décor and furnishings, including bathroom fittings and decor. APAC is likely to record the highest growth rate in terms of high-net-worth individuals (HNWIs) during the forecast period. In 2014, APAC's HNWI population grew approximately 9% wherein China accounted for the highest growth rate of over 17%.
Further, the report states that one challenge that could hamper market growth is the high initial investment required during the innovation and development of the new designs of shower trays.
Duravit, HÜPPE, Kohler, Porcelanosa, C.P. Hart Bathrooms, Ceramica Althea, Coram Showers, Drummonds, Eczacıbası (Vitra), Glass1989, Grohe, Lixil, MAAX Bath, MX, Novellini, Polimat, Polysan, Sonas Bathrooms, Teuco, Villeroy & Boch.