In terms of sales channels, residential housing projects were the biggest contribution to market growth in 2020. Investment in real estate increased by 7.0% and as the housing demand increased after the pandemic, the sale of floor space in buildings increased by 2.6%. In addition, the government's investment in public buildings and infrastructure played a key role. For retail channels, offline stores and the building materials market had been greatly hit by the pandemic. However, as people were restricted in their activities, the online market developed significantly. With the continuous development of the pre-decoration housing project market and the promotion of urbanization, the China bathroom market is expected to continue to grow.
In 2021, as the pandemic has been controlled and the vaccine widely rolled out in China, the economy is estimated to rise by about 8%. However, it is also expected that there will still be a sporadic rebound of the pandemic in 2022, but the recurrence frequency and rebound degree are expected to decrease, which will contribute to the stable growth of the bathroom market. In addition, the development of intelligent products, internet of things and other new technologies will also bring more possibilities for the upgrading and iteration of bathroom products, thus stimulating more opportunities for the market in the future.
The China Bathroom Market multi-client report with data based on 2021 will be released in the middle of next year.