Persistence Market Research digs deep into the global battery powered bath accessories market and fetches key information through structured market research in its report titled “Battery Powered Bath Accessories Market Global Industry Analysis 2013–2017 and Forecast 2018–2026”, which studies the market and predicts future demographics and changes. The report reveals that battery powered bath accessories will dominate the global smart bathroom market and is estimated to hold more than 25% market value share. It is expected to grow at a CAGR (Value) of 11.6% by the end of the forecast period (2018 – 2026). The present estimated value of the global Battery Powered Bath Accessories market is US$ 558.5 Mn in 2018 and the market will expand at a CAGR of 11.6% and reach US$ 1,340.3 Mn by the end of 2026.
Global Battery Powered Bath Accessories Market Dynamics: Mental and physical well-being of humans is the primary concern in the society and is supporting the growth of the global smart bathroom market, which, in turn, will drive the battery powered bath accessories market. Given the connection between hygiene and health, special attention is being given to bathrooms and toiletries. For instance, Community-Led Total Sanitation (CLTS) in Laos (SEA & Pacific Region) has started campaigning to teach people about the importance and impact of cleanliness and hygiene on their health and is encouraging people to build new toilets. Also, the Laos government has been providing water systems and materials for the construction of toilets to maintain hygiene. In India, the government has started campaigning to motivate people to build toilets and is also providing financial help for constructing toilets. Growing concern about health in public is one of the driving factors for the global battery powered bath accessories market. Battery powered bath accessories provide touch-less and automatic access to products, thereby reducing the transfer of bacteria. Thus, these products help in maintaining hygiene.
However, one of the major restraining factors for the global battery powered bath accessories market is rules and regulation set by governments regarding water. This further can lead to increase in demand for substitute products, such as papers and toiletry.
Global Battery Powered Bath Accessories Market Forecast: Market insights suggests that the overall width of the global battery powered bath accessories market will expand during the forecast period. Several positive changes are expected to fuel the growth of the market. The market is relatively small and each portion has a crucial role to play. By product type, the automatic faucets segment will play a pivotal role in building market revenue and is expected to occupy a major share of the market. The report hints that the commercial segment, by application, is estimated to hold more than one-half of the market value share in the global battery powered bath accessories market by 2018. Europe and North America, with the U.S. in the dominant position, are expected to dominate the demand for battery powered bath accessories. These regions will be followed by China and SEA & pacific. Noteworthy increase in sales in countries, such as Brazil, Russia, India China and Turkey, is expected over the forecast period. Amongst the major markets, North America will show promising results during the forecast period. The region is estimated to hold ~35% market value share in 2018 and the market will expand at a CAGR of 10.9% during the stipulated time period. The sales revenue of Europe will reach US$ 437.6 Mn by the end of 2026 while growing at a CAGR of 11.3%. The markets globally will remain fertile and vibrant during the forecast period.
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Global Battery Powered Bath Accessories Market: Competitive Landscape:Some of the key market participants reported in this study of global battery powered bath accessories market are Sloan Valve Company, Just Manufacturing Company, Bradley Corporation, Jaquar and Company, Chicago Faucets, Hydrotek International, Inc., TOTO LTD., Monolith S.r.l., Umbra, Intersan Manufacturing Company, Oras Ltd., Roca Sanitario S.A., Kohler Co., Duravit AG, Masco Corporation and LIXIL Group.
Product development is expected to remain the major focus area of leading players in the market. Players are focused on enhancing their product quality by implementing new technologies and providing tough and long-lasting li-ion batteries with added features at a competitive price point.