Europe Luxury Plumbing Fixtures Market
Europe Luxury Plumbing Fixtures Market Size Growing Steadily to Touch USD 5.4 Billion by 2029
Published | 18 February 2023
Europe luxury plumbing fixtures market is flourishing owing to massive country-wide urban redevelopment projects in Türkiye and Ukraine, changing consumer lifestyle and behavior, and increasing adoption of water-efficient fixtures.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Europe luxury plumbing fixtures market size at USD 4.03 billion in 2022. During the forecast period between 2023 and 2029, Europe luxury plumbing fixtures market size is projected to grow at a steady CAGR of 4.32% reaching a value of USD 5.4 billion by 2029. The increasing demand for luxury residences and building renovations as a result of rapid urbanization and rising income levels are the primary factors driving the market growth. Also, government organizations’ increasing investments in the region’s infrastructure expansion aid the market growth. Non-residential structures including hotels, gyms, and spa resorts are increasingly focused on fixing bathtubs, showers, and other plumbing equipment to increase visitor satisfaction. It boosts the market growth, as people pay more attention to their health and wellness. Eco-friendly plumbing solutions are gaining popularity as they are less expensive, have a lower carbon footprint, perform better, and use less water and energy. Several manufacturers are offering high-quality commercial plumbing fittings, which is improving growth prospects for the market.
Europe Luxury Plumbing Fixtures Market – Overview
Plumbing fixtures are interchangeable components linked to a system of pipes that distribute water throughout a structure. They are built of materials that are easy to clean, smooth, non-corrosive, non-absorbent, and anti-microbial. They are put in place in the toilets, washrooms, and kitchen drainage systems of homes, hospitals, schools, and other structures. Some of the most popular plumbing fixtures include sinks, toilets, urinals, faucets, showers, bathtubs, water closets, washbasins, and flushing cisterns. Modern bathrooms are built of fiberglass, acrylic, enamel, cast iron, steel, and elegant waterproof wood, and they contain overflows, drains, and taps to help with water supply and drainage.
Opportunity: Massive country-wide redevelopment projects in Türkiye and Ukraine
Major companies in Europe luxury plumbing fixtures market are expected to gain from significant opportunities provided by the massive infrastructure redevelopment projects in earthquake-hit Türkiye and war-ravaged Ukraine.
In Türkiye, analysts estimated that the urban redevelopment across the country post the earthquake would provide huge opportunities for the construction and related industries in total investment of more than USD 250 billion. On February 06, 2023, a 7.8-magnitude of earthquake hit Türkiye and Syria, killing tens of thousands of people and severely damaging infrastructure in cities and villages across its fault line. The President of Türkiye announced that the government would engage in a comprehensive construction program to rebuild cities with safety and sustainability.
In Ukraine, Russia’s war in the country has been continuing for more than a year now. Consequently, infrastructure across Ukraine has been severely damaged. In September 2022, Ukraine government, the European Commission, and the World Bank, along with their partners estimated the cost of Ukraine’s reconstruction and recovery would be about USD 350 billion. As the war continues, the cost is anticipated to escalate.
Massive redevelopment and recovery projects in Türkiye and Ukraine are expected to provide lucrative growth opportunities for construction and supplementary industries. It, in turn, is projected to aid the growth of Europe luxury plumbing fixtures market during the forecast period between 2023 and 2029 and beyond.
Europe Luxury Plumbing Fixtures Market – By End User
Europe luxury plumbing fixtures market by end user is split into residential and non-residential segments. The residential segment is expected to grow at a significant rate in the market as real estate prices rise. The rising population as well as increasing construction and renovation activities are expected to drive the market for luxury plumbing fittings. Rapid urbanization, consumer preference for modern architecture, and advancements in home technology will drive growth in the residential segment. The ability to occupy little space and ease of installation are expected to drive the luxury plumbing fittings market growth due to the exhausting residential construction areas.
Europe luxury plumbing fixtures market is fiercely competitive. Prominent players in the market include Culnat, Natphil Inc., Water Matrix, Aquabrass, Dahl Brothers (Canada) Ltd, Fiberez Bathware, The Noble Co., Matco-Norca, Rada Mechanical Products Ltd, and Falcon Waterfree Technologies. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Europe luxury plumbing fixtures market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Europe Luxury Plumbing Fixtures Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Europe Luxury Plumbing Fixtures Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Europe Luxury Plumbing Fixtures Market - By Type (Bathroom Fixtures (Showerheads, Toilet, Bathtub, Others (Faucets, Sinks)), Kitchen fixtures (Sinks, Faucets)); By End User (Residential, Non-Residential); By Country (Germany, UK, Italy, France, Spain, the Netherlands, Rest of Europe), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Publish Date: February 2023
Growing spending on home construction, renovation, and modernization, an increasing focus on luxury housing and smart homes, and urban redevelopment projects across Türkiye and Ukraine could boost the growth of Europe Luxury Plumbing Fixtures Market during the forecast period between 2023 and 2029.
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