TechSci Research: India Sanitary Ware Market to Reach Staggering US$ 1.8 Billion by 2017

British Columbia, Canada, June 09, 2012 --(PR.com)-- With the improving literacy rate in the country, the importance of proper sanitation is also improving. According to a recent report by UNICEF, 638 Million people in India lack proper sanitation facilities. It is estimated that in India around 50 percent population defecate in the open when compared with other emerging countries like Brazil and China where only 7% and 4% defecate in the open respectively. The Indian Government earmarked Rs. 7.2 Billion towards total sanitation programme (budget 2006), identified as one of the eight key thrust and priority programmes of the Government. Government of India is keenly focusing on improving the level of sanitation in the country by introducing housing policies, sanitation policies, public toilets schemes, 100% FDI in real estate, etc. which are being termed as some of the major factors contributing for the growth of sanitary ware market in India.

According to the recently published report by TechSci Research "India Sanitary Ware Market Forecast & Opportunities, 2017," the market for sanitary ware products is expected to grow enormously in the coming years. It is forecasted that global sanitary ware market will record a whooping turnover of US$ 89.5 Billion by 2017 where maximum growth is anticipated from emerging economies such as China and India. The mature market such as United States and Europe will encounter a sluggish growth for the next five year period.

“The sanitary ware market for high end products in India is dominated by the organized segment but the unorganized segment has captured major share in low-end products segment. Initially, the market was dominated by the domestic players; however, now the international players are performing extremely well out of which some have registered growth of even more than 30% y-o-y. Roca, HSIL, Cera, Somany, TOTO are the major players present in the sanitary ware market in India,” said Karan Chechi, Research Director with TechSci Research.

“Improving literacy rates, liberalized FDI policy in the real estate sector, favorable demographics, increasing purchasing power, customer friendly banks, and favorable reforms initiated by the Government to attract global investors is driving the growth for sanitary ware market in India which is forecasted to reach US$ 1.8 Billion within next five years,” said Mr, Chechi