Market Overview
The market size of the plumbing fixtures & fittings is estimated to grow from USD 74.72 Billion in 2015 to USD 102.07 Billion by 2022, at a CAGR of 5.45%. The base year considered for the study is 2022, and the market size is projected from 2022 and ends in 2030. The fixtures and fittings market report aim to study the fixtures & fittings market based on material, product, end-use, and application.
The plumbing fixtures market is expected to witness high growth due to the rising urbanization, building renovations due to disasters and upgradation, large-scale investment in infrastructure & industrial sectors, and rising construction activities in emerging economies. The renovated buildings segment will have the largest market share and dominate the plumbing fixtures & fittings market from 2022 to 2030. New buildings play a key role in changing the plumbing fixtures & fittings landscape and are projected to grow at the highest rate during the forecast period.
In 2015, the market share of vitreous china was the largest based on raw material, and plastics are projected to be the fastest-growing segment during the forecast period. It is closely followed by metal, which has the second-highest growth rate.
Plastic plumbing fixtures and fittings, as a part of the market, are made from a wide range of polymers such as fiberglass, cast polymer, and acrylic. Safety is another important factor when designing plumbing fixtures and fittings; key players have developed prefabricated slip-resistant surface coatings to gain a competitive edge. Hence, plastic that can be molded in any shape is gaining popularity in the plumbing fixtures & fittings market.
Market Segmentation
The plumbing fixtures and fittings market has been segmented based on the following:
By Material:
- Vitreous china
- Metal
- Plastic
By Product:
- Bathtub & shower fixtures
- Sink fixtures
- Toilet fixtures
- Bathtub & shower fittings
- Sink fittings
- Toilet fittings
- Other fixtures & fittings
By End-Use:
- Residential buildings
- Non-residential buildings
By Application:
- New buildings
- Renovated buildings
By Region:
- North America
- Europe
- Asia-Pacific
- RoW
Regional Analysis
The Asia-Pacific region is projected to have the largest market share and dominate the plumbing fixtures & fittings market from 2016 to 2022. Asia-Pacific offers potential growth opportunities; developing countries such as China and India are projected to be emerging markets, making it the fastest-growing region for the plumbing fixtures and fittings market. The rising growth of the plumbing fixtures and fittings market in this region is driven by the growth in the construction of the residential and non-residential buildings. Also, the growing population and economic development are other factors driving the growth of this market.
Factors such as fluctuations in raw material prices act as a restraint on the market's growth. The global plumbing fixtures and fittings market is dominated by players such as the following:
- Geberit AG (Switzerland)
- Roca Sanitario, S.A. (Spain)
- LIXIL Group Corporation (Japan)
- Kohler Co. (U.S.)
- TOTO Ltd. (Japan)
- Jacuzzi Inc. (U.S.)
- Fortune Brands Home & Security, Inc. (U.S.)
- Masco Corporation (U.S.)
Industry News
Higher emphasis on personal hygiene and cleanliness and new building projects along with renovation programs contribute significantly to plumbing fittings & fixtures demand in the U.S. Rapid pace of industrialization, sustained increase in manufacturing/industrial activity, economic growth, improving living standards, and increase in discretionary spends, along with rising construction activity spur growth in the Asia-Pacific region.
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