PREFABRICATED BATHROOM PODS MARKET REPORT OVERVIEW
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The global prefabricated bathroom pods market size was 1405.4 million in 2021 and is projected to hit USD 3570.82 million by 2031. and exhibit a CAGR of 9.8% during the forecast period. In the market study, our analysts have considered prefabricated bathroom pods players such as Walker Modular, Bathsystem, Offsite Solutions, Interpod, Eurocomponents, Elements Europe, Sanika, Oldcastle SurePods, Taplane, Pivotek, Buildom, BAUDET, Altor Industries (Part Group), StecheleGroup, Modul Panel, B&T Manufacturing, Suzhou COZY House Equipment, Syswo Housing Tech, Guangzhou Seagull Housing Industry, Hunan Xinling Housing Equipment Co. Ltd., Honlley, Changsha Broad Homes Industrial Group and Red Sea International.
The instantaneous spike in the CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels after the pandemic ends. The unforeseen emergence of the COVID-19 pandemic has significantly impacted the global economy. The global and Japan prefabricated bathroom pods market has experienced a lucrative impact of the coronavirus outbreak.
The inherently waste-conscious bathroom pods simplify building and construction management and help companies capitalize on superior quality, low production costs, and precision fitting. Over recent years, the demand for prefabricated bathroom pods has increased significantly due to their cost-effectiveness and low environmental impact. Prefabricated bathroom pods are economical, robust, and involve easy installation. The product has witnessed a surge in demand for its use in adventure camps, military camps, hotels, healthcare, student housing facilities, and others. The increasing modular construction and renovation activities across developing and developed countries are expected to boost the global and Japan prefabricated bathroom pods market growth.
COVID-19 IMPACT
"Rapid Construction of Hospitals to Stimulate Growth for the Market "
The global pandemic has inflicted a devastating impact on the global economic structure and has stagnated the growth of several industries and markets. However, the global and Japan prefabricated bathroom pods market has witnessed a growth surge during the pandemic due to the rapid construction of hospitals and vaccination centers. The unparalleled burden on the healthcare sector due to low available hospitals and the lack of sufficient equipment to deal with the pandemic augmented the need for new hospitals. This resulted in the speedy construction of hospitals and stimulated the demand for prefabricated bathroom pods. In February 2020, China reportedly built a hospital with 1,000 beds in just ten days using prefabricated construction material.
LATEST TRENDS
"Sustainable Living Innovations to Thrive Market"
The consumer’s consciousness regarding their overall impact on the environment has increased in recent years. Consumers have grown more conscious towards reducing their energy consumption and carbon footprints. The improving living standards and personal disposable income levels augment the demand for innovative sustainable living solutions. The increasing adoption of renewable energy resources over fossil fuels is boosting the need for sustainable living innovations. Prefabricated bathroom units are a sustainable solution for living, and the increasing urbanization is expected to fuel the demand for the product.
PREFABRICATED BATHROOM PODS MARKET SEGMENTATION
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Based on type, the market segments into steel bathroom pods, GRP bathroom pods, and others. Based on application, the market fragments into commercial use, residential use, and others. Out of these, the steel bathroom pods segment is expected to garner the highest growth in the market.
Geographically, the market is classified into five major regions- North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
DRIVING FACTORS
"Increasing Construction Activities to Boost Market Growth"
The rising construction activities due to the ever-increasing global population are expected to drive the global and Japan prefabricated bathroom pods market growth in the forthcoming years. The development of rural and urban areas and the growing need for housing are anticipated to fuel the market growth. The construction of high-rise buildings developed with sustainable methods is likely to foster growth for the market. The construction of student housing facilities and the construction of new hospitals are projected to bolster the market growth. Additionally, the increasing renovation activities across developing and developed nations are expected to augment the market growth. Also, the expansion of luxury hotel chains such as Hyatt, Four Seasons, and others across the globe is anticipated to stimulate the development of the global and Japan prefabricated bathroom pods market.
"Cost-Efficiency & Low Labor Requirements to Surge Product Adoption"
Prefabricated bathroom units are easy to install and require a low workforce in the installation process. The bathroom pods are constructed offsite and, thus, eliminate the on-site health and safety risks involved during construction. As bathroom pods are built offsite, it serves as a cost-effective solution in numerous sites with restricted spaces. Bathroom pods come with tested and fitted fixtures such as bathroom taps, bathroom sinks, bathroom tiles, and bathroom fans. Since the fully fitted bathroom pods are fully equipped with all the necessary equipment, the labor required for these installations gets eliminated. Hence, providing cost advantages for the constructor and the installer. The standardization and increasing product innovation are expected to boost market growth.
RESTRAINING FACTORS
"Fluctuating Raw Material Costs May Hinder Market Growth"
The construction of bathroom pods involves numerous raw materials such as steel, concrete, glass, and others. The fluctuating prices of these materials may hinder the market growth. Additionally, the impact of the COVID-19 pandemic may influence the costs of these materials for an extended period and restrain the development of the market.
PREFABRICATED BATHROOM PODS MARKET REGIONAL INSIGHTS
"Growing Construction Activities & Government Initiatives to Foster Growth in the Asia Pacific"
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Asia Pacific is projected to dominate the global and Japan prefabricated bathroom market share. The increasing construction activities in India, China, and Japan due to the ever-increasing populace are expected to boost the market growth. Japan is expected to be the leading growth region due to its contribution to technological innovations in the market. Japan is famous for its pod hotels and hotels constructed of prefabricated materials and is likely to be the highest growth contributor to the market. Additionally, favorable government initiatives are expected to bolster market growth. For instance, the government of India built around 9.5 crore toilets in India under the Swachh Bharat Mission in 2019.
Europe is likely to rank second in the global market due to the increasing renovation and construction activities. The growing government investments in the education and healthcare sectors are anticipated to boost the market growth. Additionally, the development of green buildings and the increasing trend of sustainable development across residential and commercial sectors are estimated to augment the market growth.
North America is expected to gain significant growth in the forthcoming years. The increasing population and construction activities are anticipated to fuel the market growth. The expansion of commercial spaces such as hotel and restaurant chains are projected to foster market growth.
The Middle East & Africa, and Latin America are estimated to gain considerable growth in the global market. The rising construction of skyscrapers and high-rise buildings is projected to stimulate market growth.
KEY INDUSTRY PLAYERS
"Key Players Emphasize Product Standardization to Attract More Growth"
The key players in the market extensively invest in research and development activities to enhance the standardization of prefabricated bathroom pods. The unforeseen emergence of the COVID-19 pandemic has created lucrative growth opportunities for the market due to the rapid construction of hospitals and vaccination centers. Hence, the key players focus on devising ingenious growth strategies to capture the highest growth and revenues in the industry. The key players adopt organic growth strategies such as new product launches, patents, technological developments, etc. They also focus on partnerships, mergers, acquisitions, collaborations, and others to strengthen their market positions.
List of Key Market Players Profiled:
- Walker Modular
- Bathsystem
- Offsite Solutions
- Interpod
- Eurocomponents
- Elements Europe
- Sanika
- Oldcastle SurePods
- Taplane
- Pivotek
- Buildom
- BAUDET
- Altor Industries (Part Group)
- StecheleGroup
- Modul Panel
- B&T Manufacturing
- Suzhou COZY House Equipment
- Syswo Housing Tech
- Guangzhou Seagull Housing Industry
- Hunan Xinling Housing Equipment Co. Ltd.
- Honlley
- Changsha Broad Homes Industrial Group
- Red Sea International
KEY INDUSTRY DEVELOPMENTS
September 2019: Connex Industries invested £2.5 million to expand its manufacturing operations of modular bathroom pods in the UK.
REPORT COVERAGE
The global and Japan prefabricated bathroom pods market is strongly competitive and comprises several key players operating domestically and globally. The global and Japan prefabricated bathroom pods market report provides a holistic assessment of the market. It emphasizes several crucial factors, such as end-users, applications, components, and leading companies. Besides that, the report offers essential insights into the current market trends and showcases key industry developments. In addition to the factors mentioned above, the report envisages significant factors contributing to the market’s growth in recent years.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 1405.4 Million in 2022 |
Market Size Value By |
US$ 3570.82 Million by 2031 |
Growth Rate |
CAGR of 9.8% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type & Application |
Frequently Asked Questions
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What was the global market status of the prefabricated bathroom pods market?
The global and Japan prefabricated bathroom pods market size was 1405.4 million in 2021.
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What are the prefabricated bathroom pods market competition in this industry, both company and country-wise?
The prefabricated bathroom pods market competition is intense both company and industry-wise.
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What is the market analysis of the prefabricated bathroom pods market by taking applications and types into consideration?
Business Research Insights projects that the prefabricated bathroom pods market will witness meteoric growth in the coming years, considering the applications and types.
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What will be the estimation of cost and profit?
The standardization of products will likely lead to a reduction of costs and increase the profit margins.
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What will be the prefabricated bathroom pods market share, supply, and consumption?
According to our analysis, the prefabricated bathroom pods market is projected to hit USD 3570.82 million by 2031 and exhibit a CAGR of 10.2% during the forecast period. The Asia Pacific will account for the highest production and consumption of the product.
