The plumbing components market is a crucial part of the construction industry, providing essential components for plumbing systems in residential, commercial, and industrial buildings. The market includes various components, such as pipes, valves, fittings, pumps, and water heaters, which are necessary for the efficient functioning of plumbing systems. The market is driven by the increasing demand for water and sanitation infrastructure in developing countries, as well as the renovation and remodeling of existing infrastructure in developed countries.
The global plumbing components market size is expected to reach $78,218.9million in 2027, from $58,516.6 million in 2019, growing at 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.
Additionally, the rising awareness about the importance of water conservation and the adoption of eco-friendly plumbing systems have also contributed to the growth of the plumbing components market. The market is highly competitive, with several players offering a wide range of products to meet the diverse needs of customers. Overall, the plumbing components market is expected to continue its growth trajectory in the coming years, driven by increasing urbanization, rising disposable incomes, and the growing demand for smart plumbing solutions.
Surge in renovation of non-residential and residential bathrooms and toilets, and rise in construction of offices and malls across the globe drive the growth of the global plumbing components market. However, fluctuations in prices of raw material restrain the market growth. Furthermore, increase in infrastructure development activities in African countries is expected to provide new growth opportunities for the market player in the near future.
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Also, damaged or broken components are also needed to be replaced and thus, increase the sales of plumbing components. Further, some of the renovation work is also done when the houses, bungalows or flats are sold and the new owner wishes to redecorate the house. In addition, installation of technically advanced sanitary equipments by replacing the old equipment is another factor for sales of plumbing components. Manufacturers have recognized the market growth opportunity and have adopted several strategies like new product launch, acquisition of companies and business expansion to offer wide range of products to the customer and to widen their product offering in the new regions.
Region wise, the plumbing components market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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