Bathroom Hardware - Thailand

Thailand

Highlights

In Thailand, the revenue generated in the Bathroom Hardware market is projected to reach US$720.90m in 2024.
This market segment is expected to experience an annual growth rate of 1.48% (CAGR 2024-2029).
When compared globally, China leads the way with revenue of US$38bn in 2024.
Looking at the per capita figures, each person in Thailand is estimated to contribute US$10.03 in revenue in 2024.
Thailand's bathroom hardware market is experiencing a surge in demand for innovative and sustainable products.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Bathroom Hardware market in the Thai DIY & Hardware Store market has seen minimal growth, influenced by factors such as low consumer spending and economic uncertainty. Despite this, the market remains stable and offers convenience to customers with digital services and increasing health awareness.

Customer preferences: With the rise of home renovation and DIY projects during the pandemic, consumers in Thailand are showing a preference for practical and functional bathroom hardware. This has led to a surge in demand for versatile and durable products that can withstand frequent use. Additionally, as the country continues to urbanize, the demand for smaller and space-saving bathroom hardware has increased. This trend is also influenced by cultural preferences for compact living spaces, especially in urban areas. As a result, there has been a shift towards sleek and minimalistic designs in bathroom hardware.

Trends in the market: In Thailand, the Bathroom Hardware Market within the DIY & Hardware Store Market is experiencing a surge in smart bathroom technology, with more consumers opting for products such as smart toilets and digital shower systems. This trend is expected to continue as consumers prioritize convenience and home automation. Additionally, there is a growing demand for eco-friendly bathroom hardware, as there is an increasing focus on sustainability and energy efficiency. This trend presents opportunities for industry stakeholders to cater to the changing consumer preferences and drive innovation in the market.

Local special circumstances: In Thailand, the Bathroom Hardware Market within the DIY & Hardware Store Market is influenced by the country's climate and cultural preferences. Due to the hot and humid weather, there is a higher demand for durable and moisture-resistant bathroom hardware. Additionally, the Thai culture values cleanliness and aesthetics, leading to a preference for high-quality and stylish bathroom hardware products. Moreover, the Thai government's regulations on building materials and safety standards also impact the market, as they require certain certifications and permits for bathroom hardware products to be sold in the country.

Underlying macroeconomic factors: The Bathroom Hardware Market within the DIY & Hardware Store Market in Thailand is affected by various macroeconomic factors. The country's economic growth, fiscal policies, and overall financial stability have a significant impact on the market performance. As Thailand's economy continues to grow, there is a rise in disposable income and consumer spending, leading to an increase in demand for home improvement products like bathroom hardware. Additionally, the government's focus on infrastructure development and urbanization is driving the growth of the construction industry, which, in turn, is boosting the demand for bathroom hardware in the DIY & Hardware Store Market. However, factors like fluctuating raw material prices and changing consumer preferences can also impact the market. Overall, a stable economy and favorable government policies are critical in driving the growth of the Bathroom Hardware Market in Thailand.

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.