The Global Market for Plumbing Fittings and Fixtures is Projected to Reach US$85.7 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 segments, 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$85.7 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 American Bath Group, American Standard Brands, Armitage Shanks, Asahi Eito Co. Ltd., Cera Sanitaryware Ltd., Elkay Manufacturing Company, Geberit AG, Grohe AG, Hindustan Sanitaryware & Industries Ltd., Ideal Standard International, Jacuzzi Inc., Jaquar and Company Pvt. Ltd., Kohler Co., LIXIL Corporation, MAAX Bath Inc., Masco Corporation, Moen Incorporated, Roca Bathroom Products Pvt. Ltd., Roca Sanitario S.A, Roca UK, 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).

For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
To connect with us, visit our LinkedIn page.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

Comments

Post a Comment

Popular posts from this blog

The Global Market for Surfing is Projected to Reach US$9.5 Billion by 2022

Rise of Surfing as a Lifestyle Sport Among all Age Groups Drives the Global Surfing Market, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Surfing market. The global market for Surfing is projected to reach US$9.5 billion by 2022 , driven by the growing interest in surfing both as a leisure and sporting activity, increased accessibility to surfing through surf parks and surf pools and technology innovations focused on developing sophisticated surf-wear and surf-gear.                               Surfing is a surface water sport where a participant riding a board (the surfboard) is carried away by a breaking wave. The surfing industry continues to evolve, driven by sustained efforts of s...
Read more

The Global Market for Private Tutoring Services is Forecast to Reach US$227 Billion by 2022

Intense Competition among Students and the Growing Need to Achieve Academic Excellence Drive the Global Private Tutoring Market, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Private Tutoring market. The global market for Private Tutoring Services is forecast to reach US$227 billion by 2022 , driven by the need to keep pace with classroom teaching, improve overall competency and enhance knowledge and skill level. Education is considered the social ladder to achieve success in personal and professional life. Higher education is associated with increased opportunities in the labor market, high remunerations, and improved social standing. People are therefore investing heavily in children’s education, including private tutoring or private supplementary tutoring which is emerging as a major phenomenon in the global education system...
Read more
Image
The global market for Material Handling Equipment is projected to reach US$190.3 billion by 2025, driven by the strong emphasis shed on production and operational efficiency and worker safety. The concept of “last mile” is widely popularized in supply chain management and transportation planning for its ability to increase customer satisfaction and profitability. Automation, optimization and delivery route planning are therefore vital strategies adopted by companies to improve their last mile performance. Of equal importance are the “first mile” operations involving indoor material handling on the plant floor. Raw material being the primary and most importance element in manufacturing needs to move through multiple stages of production and final packaging in a smooth and seamless manner to prevent logistical bottlenecks in production. Timely handling of materials is important to ensure that right materials in right quantities are delivered to the right locations at the right ti...
Read more