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Bathroom Hardware - Hungary

Hungary
  • In Hungary, the revenue in the Bathroom Hardware market is projected to reach US$100.90m in 2024.
  • It is anticipated to experience an annual growth rate of 2.83% (CAGR 2024-2029).
  • When compared globally, China generates the highest revenue in this market, amounting to US$38bn in 2024.
  • Looking at the population figures, in 2024, per person revenues of US$10.09 are generated.
  • In Hungary, there is a growing demand for modern and sleek bathroom hardware, reflecting the country's increasing focus on contemporary design.

Definition:

The Bathroom Hardware segment focuses on products designed to enhance the functionality and appearance of bathrooms.

Additional Information:

The market consists of revenue and average revenue per capita data. Per capita figures take into account the whole population. This market includes only B2C (business to consumer) sales. B2B (business to business) sales (e. g., hardware for coffee shops, offices, etc.) are excluded. For more information on the displayed data, click the info button on the right hand side of each box.

In-Scope

  • Toilets & toilet seats
  • Shower & bathtubs
  • Bathroom sinks & faucets
  • Bathroom hardware
  • Saunas & spas, bath fans

Out-Of-Scope

  • Bathroom furniture
  • Bathroom accessories
  • Homeware
Bathroom Hardware: market data & analysis - Cover

Market Insights report

Bathroom Hardware: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Notes: Data is shown using current exchange rates. The applied current exchange rates are displayed in the Key Market Indicators below.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Key Players

    Most recent update: Mar 2024

    Source: Statista Company Insights

    Sales Channels

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Bathroom Hardware Market in Hungary within the DIY & Hardware Store Market has shown negligible growth, impacted by factors such as low consumer spending and sluggish economic growth in the region.

    Customer preferences:
    With the growing trend towards DIY and home improvement in Hungary, consumers are increasingly demanding high-quality and innovative bathroom hardware products from their local hardware stores. This is coupled with a rising preference for eco-friendly and sustainable options, as well as a focus on functionality and convenience. Additionally, an aging population in Hungary has resulted in a need for accessible and user-friendly bathroom hardware solutions, including grab bars, non-slip mats, and other assistive devices. This demographic shift has also led to a rise in demand for customizable and adaptable bathroom hardware, catering to the specific needs of elderly or disabled individuals.

    Trends in the market:
    In Hungary, the Bathroom Hardware Market within the DIY & Hardware Store Market is experiencing a rise in demand for eco-friendly and sustainable products. This trend is being driven by increasing consumer awareness about environmental issues and a shift towards more conscious consumption. This trajectory is expected to continue as customers prioritize the use of eco-friendly bathroom hardware in their homes. This trend has significant implications for industry stakeholders, as it presents opportunities for companies to innovate and differentiate their products to meet the growing demand for sustainability. Additionally, retailers and suppliers may need to adapt their inventory to cater to this trend in order to stay competitive in the market.

    Local special circumstances:
    In Hungary, the Bathroom Hardware Market within the DIY & Hardware Store Market is influenced by the country's unique geographical location and cultural preferences. The demand for high-quality and durable bathroom products is driven by the harsh winters and the emphasis on home renovation and refurbishment. Additionally, stringent regulations on building materials and safety standards further impact the market dynamics, with consumers opting for trusted and certified products.

    Underlying macroeconomic factors:
    The growth of the Bathroom Hardware Market within the DIY & Hardware Store Market in Hungary is heavily influenced by macroeconomic factors such as consumer confidence, overall economic stability, and government fiscal policies. As the country continues to experience steady economic growth and a stable political environment, consumer spending on home improvement and renovation projects is expected to increase. Furthermore, with the rise of DIY culture and the increasing demand for affordable yet high-quality home renovation products, the bathroom hardware market is likely to see a boost in sales. Additionally, the Hungarian government's focus on infrastructure development and investment in the construction industry is expected to drive the demand for bathroom hardware in the country.

    Methodology

    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.

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    Bathroom Hardware: market data & analysis - BackgroundBathroom Hardware: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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