Plumbing Fixtures Market Worth $1,12,427 Million by 2023 | Key Segments, Benefits & Opportunity
High investment in infrastructure facilities, rise in disposable income, and growing investment in smart homes and buildings drives the market growth.
PORTLAND, OR, UNITED STATES, October 26, 2021 /EINPresswire.com/ -- The plumbing fixtures market in Asia-Pacific is expected to grow at the highest rate during the forecast period, owing to growth in urbanization, high infrastructure facilities, and improvement in living standards of the consumers. Furthermore, continuous economic development in countries, such as India, China, and Australia, are expected to provide numerous growth opportunities to the market.
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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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.
Key Benefits
The report provides an in-depth analysis of the global plumbing fixtures market size to identify the potential investment pockets.
The key drivers, restraints, and opportunities and their detailed impact analysis have been elucidated.
Porters Five Forces model helps to analyze the potential buyers and suppliers and the competitive sketch of the global plumbing fixtures market, which is expected to guide the market players to develop strategies accordingly.
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Key Market Players
Kohler Co
Globe Union Industrial Corporation
Lixil Group Corporation
Toto Ltd.,
Masco Corporation
MAAX Holdings, Inc.
Hansgrohe
Roca Sanitario
Bradley Corporation
Elkay Manufacturing Company
Key Market Segments
By Fixture Type
Bathtubs
Showerheads
Faucets
Toilets/Urinals
Others (bidets, hand showers, valves)
By Kitchen fixtures
Sink
Faucets
By End-user
Residential
Non-residential
By Geography
North America
Europe
Asia-Pacific
LAMEA
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