PUBLISHER: The Business Research Company | PRODUCT CODE: 1246011
PUBLISHER: The Business Research Company | PRODUCT CODE: 1246011
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“Plumbing Fixtures and Fittings Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on plumbing fixtures and fittings market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for plumbing fixtures and fittings? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The plumbing fixtures and fittings market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the plumbing fixtures and fittings market are: Elkay Manufacturing Company, Kohler, LIXIL Group, MAAX Bat, Masco, Roca Sanitario, TOTO, Jacuzzi, Moen Incorporated, Geberit, American Bath Group, Hansgrohe, Colston Bath, Delta Faucet Company, Gerber Plumbing Fixtures LLC, Grohe, Fortune Brands Home & Security, Asahi Eito, Cera Sanitaryware, and Globe Union Industrial Co.
The global plumbing fixtures and fittings market grew from $91.68 billion in 2022 to $98.16 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The plumbing fixtures and fittings market is expected to grow to $132.97 billion in 2027 at a CAGR of 7.9%.
The plumbing fixtures and fittings market consist of sales of pipes, washbasins, water closets and bidets. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Plumbing fixtures and fittings are essential components of plumbing systems installed in buildings for the adequate distribution of water for use in various activities such as drinking, and washing and for removal of waterborne wastes from the building. Plumbing fittings are products that can remove from one place to another and can be installed simply whereas plumbing fixtures cannot move once they are installed and can be damaged with the house only those products come under plumbing fixtures.
Asia-Pacific was the largest region in the plumbing fixtures and fittings market in 2022. The regions covered in the plumbing fixtures and fittings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of plumbing fixtures and fittings are bathtubs, sinks, toilets, showers, taps, and drains. A bathtub is a container that holds water and may be used to wash a human or an animal. Plumbing fixtures and fittings can be distributed over online or offline channels that can be used in new construction, repair, and remodeling of vitreous China, metal, and plastic material in residential, commercial, and industrial.
The increasing focus on sewerage treatment to meet the water demands globally is driving the market for plumbing fitting and fixtures products bought or rented by individuals or companies. Water is the scarcest resource in the world, according to the world bank publication in 2020 around 36% of the world population face water scarcity, and in the United States of America, 60% of the population is connected to the sewerage treatment and nearly 40% of the wastewater is collected and treated for further usage. There is an increase in population and demand for growing scarcity of water and more urbanization are all leading factors impacting the increase in the plumbing fixtures and fittings market.
Technological advancement are shaping the plumbing fixtures and fittings market. Major companies in the plumbing fixtures and fittings market are advancing towards adopting new technologies and research and developments in the plumbing fixtures and fittings market. For instance, in August 2021, Prince Pipes and fittings, an Indian PVC pipe manufacturer and multi polymer processor launches a prince one for CPVC piping systems with Corzan CPVC technology in association with the Lubrizol investors. The new CPVC pipes have heat, UV resistance, flame, and smoke pressure among other new technology.
In July 2021, the North American Pipe Corporation (NAPCO) a USA-based manufacturer of pipes and fitting company acquired LASCO Fitting Inc for an undisclosed amount. As a result of this acquisition, NAPCO will strengthen its business and expands its business portfolio and business operations with different types of pipes and fittings with both companies' technology. LASCO Fittings Inc is a manufacturer of pipes and fittings for plumbing services based in the USA.
The countries covered in the plumbing fixtures and fittings market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The plumbing fixtures and fittings market research report is one of a series of new reports from The Business Research Company that provides plumbing fixtures and fittings market statistics, including plumbing fixtures and fittings industry global market size, regional shares, competitors with a plumbing fixtures and fittings market share, detailed plumbing fixtures and fittings market segments, market trends and opportunities, and any further data you may need to thrive in the plumbing fixtures and fittings industry. This plumbing fixtures and fittings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.