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Sep 25, 2020 (The Expresswire) —
“Kitchen Sinks Market”research provides actionable intelligence on major parameters impacting the market, analyses the market performance of key companies, market dynamics of key segments, outlines the market performance across global regions. The insights of the industry over the past 5 years and a forecast until 2023 is provided.
The APAC is expected to be the major contributor to the global residential building construction market led by rising urbanization and growing disposable income. As houses are considered a long-term asset. the people started investing on it to secure the future. In addition, house owners can rent the house as rent is a non-detectible expense. The growth in residential building construction is expected to increase the demand for kitchen sinks. Stainless steel single-bowl kitchen sinks with drainer boards are the most commonly used kitchen sinks in regular residential buildings. However, for premium residential buildings. handcrafted and fireclay kitchen sinks are used. The handcrafted kitchen sinks are more expensive than the ordinary stainless-steel sinks. Our analysts have predicted that the kitchen sinks market will register a CAGR of about 4% by 2023.
Top Kitchen Sinks Market Manufacturers/Key Players:
● Franke Management AG ● Kohler Co ● Middleby Corporation ● Schock GmbH ● Teka Group
Kitchen Sinks Market research focus on: –
● Market Characteristics, Market Landscape ● Market Size, Market Segmentation ● Vendor Analysis,Vendor Landscape, and Competitive Landscape ● Regional Landscape, Decision Framework ● Market Dynamics: -Market Trends, Drivers, and Challenges
Market Driver: growing global modular kitchen market
Market Trend: emerging growth of semi- recessed sinks
Market Challenge: high operational cost
Expanding global restaurant industry
The commercial restaurant services are the major contributors to the global restaurant industry. The adoption of omnichannel sales strategy by the restaurant players has increased their overall sales. The growth in the sales is expected to increase the demand for kitchen sinks globally.
Fluctuating raw material prices
Stainless sinks are the most commonly used kitchen sinks globally. Stainless steel is extracted from iron ore; therefore, the volatility in iron ore prices will directly impact the price of stainless steel. The fluctuation in stainless steel prices is expected to continue during the forecast period.
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Market Segment by Regions, regional analysis covers
● North America ● Europe ● Asia-Pacific ● South America ● Middle East and Africa
The Study Objectives of Kitchen Sinks Market Report Are:
● To analyse and study the market sales, Kitchen Sinks market size, status and forecast (2019-2023). ● Focuses on the key Kitchen Sinks manufacturers, to study the sales, value, market share and