Bathroom Hardware - BRICS

BRICS

Highlights

In 2024, the revenue generated in the Bathroom Hardware market in BRICS amounts to US$52.49bn.
This market segment is expected to experience an annual growth rate of 1.98% (CAGR 2024-2029).
When compared globally, China leads in terms of revenue generation, with US$38bn in 2024.
In relation to the total population, per person revenues of US$15.92 are generated in 2024.
In Brazil, the demand for high-end bathroom hardware is on the rise as the country's middle class continues to grow.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Bathroom Hardware Market in the DIY & Hardware Store Market in BRICS nan is experiencing a negligible growth rate, impacted by factors such as low consumer demand, limited technological advancements, and a highly competitive market.

Customer preferences: With the growing focus on eco-friendly living and sustainable practices, consumers in the Bathroom Hardware Market within the DIY & Hardware Store Market are seeking out products that are made from environmentally friendly materials. This has led to a rise in demand for bathroom hardware made from bamboo, recycled plastics, and other sustainable materials. Additionally, there has been a shift towards minimalist and efficient designs in bathroom hardware, aligning with the growing trend of decluttering and simplifying everyday life.

Trends in the market: In the BRICS countries, the Bathroom Hardware Market within the DIY & Hardware Store Market is witnessing a rise in eco-friendly and sustainable bathroom hardware products. This trend is driven by the increasing consumer demand for environmentally friendly products and the growing awareness of the impact of traditional bathroom hardware on the environment. This trajectory suggests that industry stakeholders should focus on investing in research and development of greener options and marketing these products to cater to the changing preferences of consumers. Additionally, companies should also take into account the potential implications of not adapting to this trend, such as losing market share to competitors who have already embraced sustainability in their product offerings.

Local special circumstances: In Brazil, the Bathroom Hardware Market within the DIY & Hardware Store Market is heavily influenced by the country's diverse geographical landscape and cultural preferences. Due to the warm climate, there is a higher demand for weather-resistant and easy-to-clean bathroom hardware products. Additionally, the Brazilian culture values aesthetics, leading to a preference for stylish and trendy hardware designs. Furthermore, the regulatory environment plays a significant role in shaping the market, with strict regulations on product quality and safety, driving the demand for certified brands and products.

Underlying macroeconomic factors: The Bathroom Hardware Market within the DIY & Hardware Store Market in BRICS countries is significantly impacted by macroeconomic factors such as economic stability, government policies, and consumer spending. Robust economic growth, favorable government initiatives, and rising disposable incomes are driving the demand for bathroom hardware in these countries. Additionally, the increasing trend of DIY home improvement projects and the growing preference for luxurious and stylish bathroom accessories are further contributing to the market growth. On the other hand, economic downturns, inflation, and currency fluctuations can negatively affect market performance in these countries. Hence, economic conditions and policies play a crucial role in shaping the growth trajectory of the Bathroom Hardware Market within the DIY & Hardware Store Market in BRICS countries.

Data coverage:

Data encompasses B2C enterprises. Figures are segmented by product type and consist of the following: Paint, Wallpaper & Supplies, Tools & Machines, Hardware and Building Materials, Lawn & Garden, Heating & Cooling, Bathroom Hardware, and Floor Covering.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as product value, import value, and export value to determine domestic supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are turnover indices, GDP per capita, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.