frequent launches of shower trays by vendors is driving the Shower Trays Market
Technavio analyzes that the Shower Trays Market is expected to grow at a CAGR of 4.13% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 899.35 million.There are various factors that contribute to the growth of the market. The shower tray market witnesses frequent new product introductions from vendors, reflecting a dynamic and competitive industry landscape. These innovations aim to cater to diverse consumer preferences, with a focus on design, functionality, and material diversity. This continuous product development ensures that the market stays responsive to evolving consumer demands and trends.
In the realm of shower tray manufacturing, acrylic, steel, resin, exotic teak, and anti-bacterial ceramic each present unique advantages. Among these, ceramic is a preferred choice due to its inherent waterproof properties. This feature effectively prevents water from permeating the surface, thereby safeguarding the bathroom floor and subfloor from potential water damage. Ceramic's durability and resistance to wear and tear sets it apart, with a reduced likelihood of cracking, chipping, or fading compared to other materials. Moreover, ceramic shower trays offer versatility in terms of color, shape, and design options, allowing homeowners to harmonize their bathroom decor. The sleek, glossy finish of ceramic adds a touch of refinement and sophistication to the bathroom environment.
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Shower Trays Market Segmentation
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In the realm of bathroom renovations, shower trays come in various shapes and sizes including rectangular, square, and cornered designs. These trays feature drainage ditches or water holes, transforming them into functional sinks. Hardware stores offer an array of materials such as acrylic, steel, ceramic, resin, exotic teak, and more. Shapes cater to diverse needs, ensuring dryness and hygiene. Brands focus on anti-slip, anti-bacterial, easy-to-clean, and skid-proof features for high-end real estate, luxury hotels, spas, penthouses, and designer modular homes. However, cheap substitutes may lead to water leakage due to improper installation or lack of maintenance, requiring sealant repairs.
The global shower trays market, encompassing rectangular, square, and cornered designs, is a segment of Technavio's extensive research on the industrial machinery market. This market is a sub-segment of the larger industrial machinery industry, which includes manufacturers of machinery and components such as presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. Technavio's market analysis calculates the industrial machinery market size based on the combined revenue generated by these manufacturers catering to the industrial sector. Key growth drivers for the global industrial machinery market include the increasing industrial output in process and discrete industries, fueled by the expanding economies of developing countries, and the rising demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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