The Plumbing Fixtures Market is a large and growing industry that is responsible for producing a wide range of products used in residential and commercial buildings for the distribution of water and the disposal of waste. This market includes various types of fixtures, including faucets, toilets, showers, sinks, and bathtubs, among others. The demand for plumbing fixtures is driven by factors such as population growth, urbanization, and rising standards of living, which have increased the need for modern and efficient plumbing systems.
The Plumbing Fixtures Market was valued at $ 75,042 million in 2016, and is projected to reach at $ 1,12,427 million by 2023, growing at a CAGR of 6.0% from 2017 to 2023
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Top Companies
Kohler Co, Globe Union Industrial Corporation, Lixil Group Corporation, Toto Ltd., Masco Corporation, MAAX Holdings, Inc., Hansgrohe, Roca Sanitario, Bradley Corporation, and Elkay manufacturing Company.
Increase in disposable income of consumers, growth in urbanization, and changing lifestyle patterns of consumers, and rise in standard of living encourages the adoption of bathroom and kitchen fixtures in the industry and thus drive the plumbing fixtures market growth. In addition, high growth in construction activities in the regions of Asia-Pacific such as India and china are expected to fuel the growth of plumbing fixtures market, However, the fluctuating cost of raw materials and regulatory requirements regarding the showerheads and faucets are expected to hinder the plumbing fixtures market growth. Various advancements in plumbing technology and introduction of water efficient plumbing such as flow faucets & sensors and dual flush toilets which helps in conserving fresh water to a large extent is expected to provide numerous opportunities in the plumbing fixtures market.
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The bathroom fixtures segment, which includes showerheads, bathtubs, toilets, and others accounted for the maximum revenue share in the overall plumbing fixtures market as they are widely used in the residential sector owing to investment in smart homes and rising bathroom renovation facilities. Residential segment is expected to grow at a fastest CAGR of 6.3% in the plumbing fixtures market owing to the various investments in infrastructure facilities as well as growth in urbanization.
Asia-Pacific accounted for the major share of the global plumbing fixtures market in 2016 owing to the high growth of construction facilities in India and China. Asia-Pacific is estimated to grow at the highest rate followed by Europe in the global plumbing fixtures market due to high disposable income of consumers and demand for luxurious bathroom fixtures.
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