Published by Coherent Market Insights
Posted on September 22, 2021
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.
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 application, construction sites segment has the highest demand for portable toilets, owing to increasing construction activities globally. According to India Brand Equity Foundation (IBEF), in June 2018, the Asian Infrastructure Investment Bank (AIIB) announced US$ 200 million investment into the National Investment & Infrastructure Fund (NIIF). Moreover, according to the World Bank data, the global infrastructure sector was valued at US$ 35.48 trillion in 2017, which increased from US$ 34.69 trillion in 2016. This in turn is projected to position Asia Pacific as the fastest-growing region in the global portable toilet market.
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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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Coherent Market Insights
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#3200
Seattle, WA 98154
Tel: +1-206-701-6702
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The post Portable Toilets Market Expected To Witness High Growth Over The Forecast To 2027 appeared first on Gatorledger.
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.
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 application, construction sites segment has the highest demand for portable toilets, owing to increasing construction activities globally. According to India Brand Equity Foundation (IBEF), in June 2018, the Asian Infrastructure Investment Bank (AIIB) announced US$ 200 million investment into the National Investment & Infrastructure Fund (NIIF). Moreover, according to the World Bank data, the global infrastructure sector was valued at US$ 35.48 trillion in 2017, which increased from US$ 34.69 trillion in 2016. This in turn is projected to position Asia Pacific as the fastest-growing region in the global portable toilet market.
“Before Buying Check Our Discount For Your Better Business” https://www.coherentmarketinsights.com/insight/request-discount/2545
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.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post Portable Toilets Market Expected To Witness High Growth Over The Forecast To 2027 appeared first on Gatorledger.
