Market Trends of Concealed Cistern Industry in India
This section covers the major market trends shaping the India Concealed Cistern Market according to our research experts:
Real Estate Industry Market Affecting Concealed Cistern Market
The market size of the real estate industry in India is observing a continuous increase with around USD 180 billion in 2020 and is expected to increase to USD 1000 billion by 2030. With the advent of COVID-19, investment in infrastructure as a share of India's GDP observe a continuous decline with 4.4% in 2019, 4.2% in 2020, and 3.9% in FY 2021 and having a negative transmission effect on other markets connected to real estate.
In budget 2022, the government's decision to allocate INR 48,000 crore in the Budget under the Pradhan Mantri Awas Yojana (PMAY) and faster approvals for affordable housing in urban areas and two of the biggest governmental programs in recent years, the 'Smart City Mission' and the 'National Infrastructure pipeline', containing goals on sustainability, environmental protection and disaster risk management. These programs led to an increase in modern bathrooms leading to an increase in demand for concealed cisterns.
Construction Sector FDI in India Driving Concealed Cistern Market
Various central government and state government initiatives during COVID-19 have helped the real estate industry remain buoyant through 2020 in India. Infrastructure activities in 2021 were second largest by the distribution of foreign direct investment equity inflow in India receiving around INR 582.4 billion of which Maharashtra received the largest after which comes Delhi, Karnataka, and Tamil Nadu. From April 2000 to June 2021 India received USD 51.5 bn as FDI in construction. The largest infrastructure investment comes from Singapore in 2021 contributing USD 25.8 bn. This investment in infrastructure-related activities leads to an increase in the construction of bathrooms in commercial as well as residential spaces increasing the demand for concealed cisterns.
