Industry Overview of Toilet Tank Market
IMARC Group, a leading market research company, has recently releases report titled “Toilet Tank Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global toilet tank market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What is a Toilet Tank?
A toilet tank represents a cistern that collects and stores water used in the process of flushing. It is mounted directly to the bowl or the wall behind and includes a flush valve, which lets water flow into the bowl during the flush, and the fill valve that allows the tank to refill. A toilet tank also contains a fill float, rubber flapper, and an overflow tube. In addition to this, this cistern is manufactured using thermoplastic materials, such as polyester, polypropylene (PP), acetal (AC), and acrylonitrile butadiene styrene (ABS). As a result, toilet tanks are extensively available across sanitary ware stores, hypermarkets, specialty stores, etc.
How big is the Toilet Tank market?
The global toilet tank market size reached US$ 693.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 817.6 Million by 2028, exhibiting a growth rate (CAGR) of 2.3% during 2023-2028.
What Are the Growth Prospects and Trends in The Toilet Tank Industry?
The launch of several policies by the government bodies to ensure that basic sanitation facilities are affordable, accessible, and safe, especially in rural areas, is primarily driving the toilet tank market. Besides this, the increasing number of shopping malls, restaurants, amusement parks, offices, hospitals, cafes, theaters, airports, and railway stations is further augmenting the market growth. Moreover, the high consumer inclination towards exquisite and high-end household accessories, including smart toilets integrated with sensors that automatically activate the flushing mechanism, owing to the improving living standards and inflating income levels, is also catalyzing the global market. Apart from this, the extensive utilization of water-saving technology by the leading players to reduce wastage, on account of the decreasing groundwater levels and increasing environmental concerns, is acting as another significant growth-inducing factor. Additionally, the introduction of new and state-of-the-art cisterns and the expanding renovation and refurbishment activities in hotels wherein natural stones are used, such as marble and granite, to enhance the aesthetic appearance are also stimulating the market growth. Furthermore, the growing popularity of portable washrooms at construction sites, public spaces, and events is anticipated to propel the toilet tank market over the forecasted period.
What is included in market segmentation?
The report has segmented the market into the following categories:
Mount Type Insights:
- Wall Mount
- Single Button Press
- Double Button Press
Distribution Channel Insights:
- Sanitary Ware Stores
- Specialty Stores
- Online Stores
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Duravit AG
- Geberit AG
- Hindware Limited
- Jaquar Group
- Kohler Co.
- LIXIL Corporation
- Mansfield Plumbing Products LLC (Organizacion Corona S.A.)
- Roca Sanitario S.A.
- Thomas Dudley Ltd
- TOTO Ltd.
- WDI (Xiamen) Technology Inc.
- Yuyao Meige Sanitary Parts Industrial Co. Ltd.
- Zurn Industries LLC (Zurn Elkay Water Solutions Corporation)