Portable Toilets Market Competitive Landscape and Industry Expansion Strategies
Posted by anagha on June 17th, 2019
The market is projected to reach US$ 24,730 million by the end of 2027, at a CAGR of 3.5% over the forecast period, owing to the increasing number of construction sites in emerging economies such as India and China. Portable toilets on construction sites increase the workers’ productivity and are easy to relocate, according to the requirement.
According to the report published by Global Construction Perspective (GCP), China, US, and India is anticipated to contribute 57% in global construction growth, which is expected to account for US$ 4.5 trillion by 2030.
Factors such as need for increased sanitation and hygiene are fueling growth of the portable toilet market. Moreover, increasing number of international tourists in Europe is expected to increase the demand for portable toilet on streets, tourist attractions, docks, and other such public places.
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According to research conducted by LIXIL in collaboration with Oxford Economics, global economic losses from poor sanitation were estimated to be US$ 223 billion in 2015, an increase of over 20 percent from five years earlier. In the same year, poor sanitation cost the Asia Pacific region was estimated to be US$ 172 billion, Latin America and the Caribbean US$ 22.2 billion, and Africa US$ 19.3 billion. Therefore, increasing awareness regarding the sanitation is expected to propel demand for portable toilet during the forecast period.
Among public places, portable toilets are also used in events on a large scale. Event organizers prefer providing portable toilet facilities as the people will stay longer at the event due to convenience and will therefore spend more time and money on the event.
Among regions, Europe is expected to witness a significant growth in case of portable toilets, as most of the construction companies in Europe have laws wherein the provision of sanitation services is a must on construction sites. This will not only increase the productivity of the workers on site, but it will also be convenient to relocate the toilet in future.
The global portable toilet market was valued at US$ 18,200 million in 2018, and is expected to register a CAGR of 3.5% in terms of revenue over the forecast period (2019 – 2027).
Europe is expected to witness a rapid growth in case of travel and tourism industry during the forecast period. As per the World Travel & Tourism Council (WTTC), in Europe, the direct contribution of Travel & Tourism to GDP was 3.6% of the total GDP and is expected to rise by 2.4% p.a. from 2018-2028. Growing tourism will increase the demand for portable toilets at public places.
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North America is also expected to witness a growth in terms of construction activities, which in turn will increase the demand for portable toilets. As per the Associated General Contractors of America (AGC), the U.S. construction industry has more than 670,000 employers with over 7 million employees and creates nearly US$ 1.3 trillion worth of structures each year.
Major players operating in the global portable toilet market include NuConcepts, Satellite, Sanitech, Polyjohn Enterprises, Camco Manufacturing, Inc., and others.
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About the Authoranagha
Joined: July 22nd, 2017
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