On the other hand, the majority of the wet station demand in Asia Pacific region is served by a large number of small hair salon equipment providing firms constituting a sizeable un-organized manufacturing sector of Asia Pacific. The wet station market in the Latin America and the Middle East is growing slowly owing to the comparatively less number of consumers willing to spend on beauty services. In particular, the growing economies in CIS & Russia present lucrative opportunities for Wet Station Market in the coming years.
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Wet station is a hair salon equipment, which is used in almost every premium salon & spa centers. It is a wooden cabinet equipped with a mirror and washing bowl in it. Along with functionality, wet stations are used for aesthetic reasons. With the rise in consumer spending, demand for hair salon equipment has increased. A shift from middle-class standards of living to upper-class standards in developing economies of Asia Pacific region as augmented the market value because the region comprises almost 60% of the world's population.
Growing appeal of hairdressing primarily drives the wet station market in the salon equipment industry. According to Habia organization, hairdressing contributes 65% to hair grooming industry where wet stations are mainly applicable. The technological advancement in hair care equipment, which is making consumers opt for premium services is also driving the wet station market. Use of wet station in salon makes hair spa service easy and while the service is being offered consumers feel comfortable.
Salon outlets are switching from single wet station to double wet station to serve two consumers at a time. Along with double side utility, these wet stations are equipped with backwash and side wash facilities, which makes the equipment easy to serve. Portable wet stations comprise of major market share as compared to stationary wet stations. With growing e-commerce business model, online sales channels are major contributors to wet station sales.
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With growing per capita income, consumers are tend to spend more on hair spa and beauty services. In developing economies, faster growth in per-capita income is fast which is leaving consumers with more disposable income. As the demand of consumers is increasing for hair and beauty services, demand for wet station in the salon is rising. Consumers are demanding premium hair spa services which is leading a rise in the number of wet stations. Hence, individual salons are making more profit and tend to make investments in such equipment.
Wet station market players are facing some constraints, such as, shipping and transportation costs which remain a prime concern for wet station manufacturers. Transportation costs starting from raw materials to finished products continue to create complexities. Thus, wet station manufacturers face forward and reverse logistics problems. In addition, costs associated with packaging, warehousing, collecting, and reshipping of wet station also add to the product cost. Further, growing preference for online sales has invited buy-back approach without taking transportation cost from consumers.
Independent nature of salon & spa industry and comparatively less capital investment are the main reasons for rise in the number of independent salons and mid-tier mall chains which are growing the market value of wet station. Engagement of small salon owners in self-employed business mode is setting the trend to invest in hair spa equipment. Offering premium class hair grooming services with pocket-friendly investments in the form of equipment like the wet station is changing the market perspective to optimistic forecast from average industry growth rate.
Market structure for hair salon equipment industry is fragmented with very few prominent market players. In the market of developed economies of North America and Europe prominent wet station companies are operating with a broad product portfolio, while a comparatively large number of small companies making the market fragmented.
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