Global Plumbing Fixtures and Fittings Market
Global Plumbing Fixtures and Fittings Market Size Set to Touch Whopping USD 166 Billion by 2029
Published | 07 July 2023
Global plumbing fixtures and fittings market is gaining traction because of the rapid urbanization driven by a high number of construction activities and large-scale investments in industrial and infrastructure sectors.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global plumbing fixtures and fittings market size at USD 112.25 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global plumbing fixtures and fittings market size to grow at a CAGR of 5.74% reaching a value of USD 165.89 billion by 2029. The global plumbing fixtures and fittings market is driven rapid urbanization, shifting consumer routines, rising disposable income, significant investments in smart home infrastructure, and improvements in plumbing technology and skilled water plumbing.
Global Plumbing Fixtures and Fittings Market – Overview
Plumbing fixtures are the main components utilized for many home and commercial activities, including bathing, cleaning, and washing. Sink faucets, hand showers, showerheads, bath spouts, and valves are examples of plumbing fixture components. In pipe systems, a fitting or adapter is used to join straight pieces of pipe or tube, adapt to various sizes or forms, and serve other functions including regulating (or monitoring) fluid flow. Pipe and tubing fittings often use the same basic material—copper, steel, PVC, CPVC, or ABS—as the pipe or tubing they are connecting.
Global Plumbing Fixtures and Fittings Market
Global Plumbing Fixtures and Fittings Market – By Product
Based on product, the global plumbing fixtures and fittings market is segmented into bathtub & shower fixtures, sink fixtures, toilet fixtures, and fittings. The toilet fixtures segment accounts for the highest market share. The favorable government initiatives in various developed and developing countries to ensure easy and safe access to public toilets play a vital role in spurring the demand for toilet fixtures. The sink fixture segment is projected to register its growth at a substantial rate during the forecast period owing to the rapid innovations in faucet technology.
Impact of COVID-19 on Global Plumbing Fixtures and Fittings Market
The global market for plumbing fixtures and fittings has been adversely affected by the COVID-19 outbreak. Many businesses in the global plumbing fixtures and fittings market are compelled to suspend their manufacturing and production activities, due to the pandemic. The interruption in company operations had a direct impact on the market growth. The market witnessed slow demand from its end users as a result of the suspension of construction activities due to increased attention on the healthcare sector and the subsequent decline in renovation activities due to the low disposable income of the consumers affected by the loss of jobs during the COVID-19 pandemic.
Major players operating in the global plumbing fixtures and fittings market include Fortune Brands Home & Security, Inc., Geberit AG, Masco Corporation, Lixil Group Corporation, Toto Ltd., Roca Sanitario, S.A., Elkay Manufacturing Company, Maax Bath Inc., Kohler Co., and Jacuzzi Inc.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Plumbing Fixtures and Fittings Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Plumbing Fixtures and Fittings 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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- Plumbing Fixtures and Fittings Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Material (Metal, Plastic); By Product (Bathtub & Shower Fixtures, Sink Fixtures, Toilet Fixtures, Fittings, Others); By Application (Renovated Buildings, New Buildings); By End Use (Residential Buildings, Non-Residential Buildings); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Publish Date: July 2023
Building renovations due to disasters & upgradations and rapid urbanization driven by construction activities are expected to boost the growth of global plumbing fixtures and fittings market during the forecast period between 2023 and 2029.
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