PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1104392
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1104392
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Global Plumbing Fittings and Fixtures Market to Reach $110.9 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Plumbing Fittings and Fixtures estimated at US$81.8 Billion in the year 2020, is projected to reach a revised size of US$110.9 Billion by 2027, growing at a CAGR of 4.4% over the analysis period 2020-2027. Bathroom Fixtures & Fittings, one of the segments analyzed in the report, is projected to record a 4.5% CAGR and reach US$53.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Kitchen & Sink Fixtures & Fittings segment is readjusted to a revised 5.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $17.3 Billion, While China is Forecast to Grow at 5.7% CAGR
The Plumbing Fittings and Fixtures market in the U.S. is estimated at US$17.3 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$30.2 Billion by the year 2027 trailing a CAGR of 5.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 3.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$11.9 Billion by the year 2027.
Toilet & Sink Fixtures & Fittings Segment to Record 3.6% CAGR
In the global Toilet & Sink Fixtures & Fittings segment, USA, Canada, Japan, China and Europe will drive the 3.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$10.5 Billion in the year 2020 will reach a projected size of US$13.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 4.2% CAGR through the analysis period.
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