PUBLISHER: The Business Research Company | PRODUCT CODE: 1436596
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436596
Plumbing fixtures and fittings constitute indispensable components of plumbing systems installed in buildings to ensure the proper distribution of water for various activities such as drinking and washing, as well as the removal of waterborne wastes. Plumbing fittings can be easily moved and installed, while plumbing fixtures, once installed, remain fixed and are integral to the building structure.
The primary types of plumbing fixtures and fittings encompass bathtubs, sinks, toilets, showers, taps, and drains. These products can be obtained through online or offline channels and are used in new construction, repair, and remodeling, employing materials such as vitreous China, metal, and plastic, in residential, commercial, and industrial settings.
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.
The plumbing fixtures and fittings market size has grown strongly in recent years. It will grow from $99.29 billion in 2023 to $107.62 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The expansion observed in the historical period can be credited to factors such as urbanization and infrastructure development, a surge in housing and construction activities, advancements in design, adherence to water efficiency regulations, and heightened consumer awareness regarding health and hygiene.
The plumbing fixtures and fittings market size is expected to see strong growth in the next few years. It will grow to $145.16 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The anticipated growth in the forecast period can be ascribed to factors such as heightened competition and innovation, the evolution of regulatory standards, economic trends, the impact of market globalization, and consumer preferences for aesthetics. Significant trends expected in this period encompass the integration of smart and connected fixtures, the adoption of water-efficient solutions, a focus on design and aesthetics, an emphasis on health and hygiene, and the increasing importance of modularity and customization.
The global emphasis on sewerage treatment to meet water demands is a key driver for the market of plumbing fittings and fixtures products, whether purchased or rented by individuals or companies. The focus on sewerage treatment amplifies the demand for advanced plumbing solutions, as efficient and modern plumbing fixtures are crucial to supporting sustainable wastewater management and sanitation infrastructure. An illustrative example is highlighted in May 2023, where the United Nations Educational, Scientific and Cultural Organization reported that globally, 2 billion people, constituting 26% of the population, lack access to safe drinking water, and 3.6 billion individuals, representing 46%, do not have access to safely managed sanitation. Additionally, between two and three billion people experience water shortages for at least one month per year, with projections indicating that the urban population facing water scarcity will reach 1.7-2.4 billion people by 2050. Consequently, factors such as population growth, escalating water scarcity, and increasing urbanization contribute significantly to the rising demand in the plumbing fixtures and fittings market.
Anticipated growth in construction activities is poised to drive the plumbing fixtures and fittings market forward. Construction activities encompass various processes involved in building, erecting, or assembling structures, infrastructure, or facilities. Plumbing fixtures and fittings play a pivotal role in construction by providing the necessary infrastructure for water supply, drainage, and sanitation systems, ensuring functionality and efficiency in residential, commercial, and industrial buildings. As an illustration, in 2021, according to the U.S. Census Bureau, an estimated 1,595,100 housing units were initiated, reflecting a 15.6% increase from 1,379,600 in 2020 in the United States. Therefore, the surge in construction activities is a significant driver behind the growth of the plumbing fixtures and fittings market.
Technological progress is significantly influencing the plumbing fixtures and fittings market, with major companies actively embracing new technologies through research and development initiatives. Illustratively, in August 2021, Prince Pipes and Fittings, an Indian PVC pipe manufacturer, and multi-polymer processor introduced "Prince One" for CPVC piping systems. Developed in collaboration with Lubrizol investors, these CPVC pipes utilize Corzan CPVC technology, featuring heat and UV resistance, flame resistance, and smoke pressure resistance, among other innovative technologies.
Leading players in the plumbing fixtures and fittings market are also focused on product development to gain a competitive edge. A notable strategy is the creation of WaterSense-certified bathroom products, aligning with the U.S. Environmental Protection Agency's (EPA) WaterSense program. In January 2021, Gerber Plumbing Fixtures LLC, a U.S.-based kitchen and bathroom products company, launched the Lemora bathroom collection. This collection includes WaterSense-certified toilets characterized by high efficiency, fully skirted concealed trapways, ADA compliance, and innovative technologies. The collection also features bathroom sink faucets and shower solutions, available in various finishes to enhance bathroom spaces. Notable functionalities include the ErgoHeight Elongated Bowl for added comfort, the Gerber QuietClean Flush System for silent operation, and the Treysta pressure balance platform for maximum installation flexibility and durability in tub and shower solutions.
In July 2021, North American Pipe Corporation (NAPCO), a USA-based manufacturer of pipes and fittings, acquired LASCO Fitting Inc for an undisclosed amount. This acquisition strengthens NAPCO's business and expands its portfolio and operations in pipes and fittings, leveraging the technological capabilities of both companies. LASCO Fittings Inc., a U.S.-based manufacturer specializing in plumbing services, enhances the combined technological offerings of the merged entities.
Major companies operating in the plumbing fixtures and fittings market report are Masco Corporation, Kohler Co., TOTO Ltd., LIXIL Group, Geberit, Jacuzzi, Grundfos, Roca Sanitario, Moen, American Standard, Bemis Company, Moen Incorporated, Elkay Manufacturing Company, Mansfield Plumbing, Oatey Company, Liberty Pumps, Little Giant, Newport Brass, Nuvo H2O, MAAX Bat, Brizo Faucets, Danze, Delta, DreamLine Shower, GROHE, InSinkErator, Jensen Medicine Cabinets, Peerless, Pioneer, Price Pfister, Sloan, Speakman, Symmons, Viega, Waste King, ADS, ALFI, Alsons, Aquatic Bathware, Arrowhead Brass
Asia-Pacific was the largest region in the plumbing fixtures and fittings market in 2023. The regions covered in the plumbing fixtures and fittings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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, Canada, Italy, Spain.
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.
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.
Plumbing Fixtures and Fittings Global Market Report 2024 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.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.