MIDDLE EAST AND AFRICA SANITARY WARE MARKET 2022-2028
MARKET OUTLOOK
As per Triton’s research report, the sanitary ware market in Middle East and Africa is expected to surge with a CAGR of 4.25% (by revenue terms) and 3.74% (by volume terms) over the forecasting years 2022-2028.
The construction industry in Turkey is driven largely by the government’s plans to upgrade the energy and transport infrastructure. The nation has made investments under its 11th 5-Year Development Plan 2019-2023. With this, the government aims to reach a $1.1 trillion economy, and also generate income worth $226.6 billion from exports by 2023. The total construction project pipeline in the country presently stands at $508 billion. This is expected to benefit the sanitary ware market in Turkey over the estimated phase.
South Africa’s construction industry is a vital sector and contributes significantly to its economic growth. The Development Bank of South Africa (DBSA), the World Bank, and the African Development Bank (AfDB) have pledged support for the nation’s infrastructure development plans. Similarly, in the 2021 budget, the national government announced its plans to plug the economy with infrastructure development of nearly $45.3 billion. This includes the advancement of housing, water, energy, sanitation, transport, agriculture, and digital infrastructure. All these factors are expected to augment the demand for sanitary ware in the country, which, in turn, will boost the studied market’s growth.
COMPETITIVE OUTLOOK
The prominent names in this market are Kohler Co, Ideal Standard International, Masco Corporation, HSIL Limited, Roca Sanitario SA, Villeroy & Boch AG, Grohe AG, Fortune Brands Home & Security Inc, Lecico Egypt, and Cera Sanitaryware Limited.
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