Saudi Arabia Sanitary Ware Market to Grow at 28% through 2019
Booming construction sector, growth in real estate, rising disposable income and positive government measures are set to drive the Saudi Arabia sanitary ware market over the next five years
The sanitary ware market in Saudi Arabia has witnessed tremendous growth in the past few years. Certain key growth driving factors for the market are boom in the country’s construction and hospitality sectors, rising disposable income and increase in the number of real estate projects. The Government of Saudi Arabia is also undertaking initiatives to boost the construction sector, thus benefitting the market for sanitary ware items. Encouraged by continuous growth in demand for sanitary ware products in the country, manufacturers and suppliers of sanitary ware items in Saudi Arabia are undertaking measures to increase their capacity. Further, expanding demand-supply gap due to increasing demand for sanitary ware items for domestic consumption is giving opportunity to more number of players to enter the market. For instance, strong growth prospects in the market are attracting several players, such as Lecico, SSWW and Gerberit Group.
According to recently published report by TechSci Research, “Saudi Arabia Sanitary Ware Market Forecast and Opportunities, 2019”, the sanitary ware market in Saudi Arabia is projected to register a CAGR of around 28%,in revenue terms, during 2014-19. Major revenue contributors are central region followed by western regions. Among various market segments, the basin segment is expected to account for highest revenue share during the forecast period due to growing demand in residential and hospitality sectors. Companies such as RAK Ceramics, Saudi Ceramics, Arab Ceramics and Casa Via are expected to grow at a rapid rate due to their expanding distribution network, including exclusive outlets. Considering high distributor margins, companies are collaborating with leading retail chains to increase their product availability.
“Several initiatives taken by the Saudi Arabian government toward large-scale infrastructure projects, such as development of 742 schools, 40 colleges and 500,000 housing units is expected to generate huge demand for sanitary ware in the country over the next five years. The country’s real estate sector is expected to continue witnessing healthy growth owing to rising housing demand by local as well as immigrant population, which would propel the market for sanitary ware products in Saudi Arabia. Moreover, increasing purchasing power of consumers is further expected to propel demand growth in the market in the next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Sanitary Ware Market Forecast and Opportunities, 2019” has evaluated the future growth potential of sanitary ware market in Saudi Arabia and provides statistics and information on market structure, consumer behavior trends, etc. The report includes sanitary ware market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in the sanitary ware market in Saudi Arabia.
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