The Global Market for Plumbing Fittings and Fixtures is Projected to Reach US$85.6 Billion by 2022

Strong Demand for Resource-Efficient Plumbing Products Spurs Growth in the Plumbing Fittings and Fixtures Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry trends, growth drivers, market share, size and demand forecasts on the global Plumbing Fittings and Fixtures market. The global market for Plumbing Fittings and Fixtures is projected to reach US$85.6 billion by 2022, driven by the growing demand for resource-efficient plumbing products among new constructions and renovations. 

Plumbing fittings and fixtures are crucial components of a plumbing system installed in buildings, either commercial or residential, for efficient distribution of water into the building for drinking, washing, and heating and for removing waterborne wastes from the building. These components are typically used in laying pipelines that provide means of transport for fluids into and out of the building. Plumbing fittings & fixtures have for long remained functionality driven products. The market, over the years, has witnessed the rise of plastics and ceramics as cheaper and better alternatives to metals. Today, water efficiency remains a key focus area for manufacturers, with governments legislating stringent water conservation programs. The Environmental Protection Agency (EPA) in the U.S., for instance has implemented the “WaterSense Labelling Program” aimed at conserving water and promoting engineering innovation in manufacturing. Against the backdrop of growing water scarcity, rise in the number of drought hit cities worldwide, and government incentives offered for efforts to conserve water through new technologies, poised to gain are high-efficiency plumbing fixtures. Driving widespread adoption of high-efficiency plumbing fixtures are benefits such as water conservation, reduced water bills, reduced infrastructure costs, and reduced pressure on environmental ecosystems, among others.    

The growth in the market is closely linked to the health of the construction industry. With the construction sector currently walking the tight rope in line with the tentative global economic recovery, it is a mixed bag of opportunities and challenges for plumbing fittings and fixtures. Slowdown in China, the world’s largest construction market, will continue to dampen growth patterns in the short to medium term period. Notwithstanding the challenges in store, residential construction in developing markets will encourage growth, given the continued rise in need for housing in line with mega trends such as population growth, rapid urbanization, development of smart cities and growing middle class population. Also driving growth will be product innovations and technology developments aimed at improving performance, personal comfort, and aesthetics. Touch-free bathroom and toilet fixtures, for instance, are gaining prominence among hygiene conscious home owners as they allow users to enjoy a safe, convenient and germ-free bathing and showering experience.

As stated by the new market research report on Plumbing Fittings and Fixtures, Asia-Pacific represents the largest as well as the fastest growing market worldwide with a projected CAGR of 5.3% over the analysis period. Growing construction activity in India and other emerging markets such as Korea, Taiwan, Singapore, Thailand and Indonesia etc.; growing investments in smart buildings and homes, rise in bathroom and kitchen remodeling projects among the upwardly mobile middle class population, and the growing preference for functional and feature rich bathrooms, are major factors fuelling growth in the region.  

Major players in the market include Asahi Eito Co., Ltd, Cera Sanitaryware Ltd., Elkay Manufacturing Company, Geberit AG, Grohe AG, Hindustan Sanitaryware & Industries Ltd., Ideal Standard, Jacuzzi Inc., Jaquar and Company Pvt. Ltd., Kohler Co., LIXIL Corporation, MAAX Batch Inc., Masco Corporation, Moen Incorporated, Roca Sanitario S.A, Spectrum Brands Incorporated, Toto Ltd., and Villeroy & Boch among others.

The research report titled “Plumbing Fittings and Fixtures: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil and Rest of Latin America). Product segments analyzed include Plumbing Fittings (Bath & Shower Fittings, Lavatory Fittings, Kitchen and Other Sink Fittings and Other Fittings) and Plumbing Fixtures (Bath & Shower Fixtures, Lavatory Fixtures, Kitchen and Other Sink Fixtures and Other Fixtures).

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