The Plumbing Components Market refers to the market for various plumbing components, including pipes, valves, faucets, fittings, and other related products used in plumbing systems. Plumbing components are used in a wide range of applications, from residential and commercial buildings to industrial facilities and infrastructure projects.
The Global Plumbing Components Market size accounted for $58.5 billion in 2019, and is expected to reach $78.2 billion by 2027, registering a CAGR of 5.6% from 2020 to 2027
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Top Companies
Aalberts N.V. (Lasco Fittings), Central States Industrial, Finolex Industries Ltd., McWane, Inc. , Morris Group (Acorn), Mueller Industries, Nupi Industrie Italiane S.p.A., Reliance Worldwide Corporation Ltd., Turnkey Industrial Pipe & Supply Inc., and Uponor Corporation.
The market for plumbing components is driven by several factors, including the increasing demand for modern and efficient plumbing systems, the growth of the construction industry, and the need for sustainable plumbing solutions that conserve water and energy. In addition, the growing trend towards smart homes and smart cities is also driving the demand for innovative and advanced plumbing components.
The plumbing components market is highly competitive, with numerous players operating in the industry, including manufacturers, distributors, and retailers. The market is also characterized by the presence of a large number of small and medium-sized enterprises, as well as a few large companies that dominate the market.
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Plumbing components include fittings, manifold, pipes and valves that are installed in plumbing connection in combination with sanitary equipment to complete the operation. Residential segment includes plumbing components installed in bathrooms or toilets and kitchens of single houses or bungalows, flats, townships and private owned buildings. Plumbing components used in kitchens, toilets or bathrooms in hotels, malls, offices and public places are considered under non-residential category. Renovation of old bathrooms and kitchens in residential and non-residential buildings and new construction projects are driving the plumbing components market.
Geographically, the plumbing components market is segmented into several regions, including North America, Europe, Asia-Pacific, and the rest of the world. The Asia-Pacific region is expected to be the fastest-growing market for plumbing components, driven by the rapid urbanization and increasing construction activities in the region.
Moreover, the global COVID-19 pandemic has made a negative impact on the construction industry. Many of the new construction and renovation projects were put on hold. Manufacturing and transportation has been affected which has eventually created negative trend on the global plumbing components market in 2020.
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