Plumbing Fixtures and Fittings Market – Overview:
Plumbing Fixtures and Fittings Market is projected to be worth USD 969.2 Billion by 2030, registering a CAGR of 5.88% during the forecast period (2022 – 2030)
Market Research Future (MRFR) published a report on the plumbing fixtures and fittings market which includes a detailed analysis of factors that can take the market forward and segmental analysis for an insightful prediction of the market. Booming construction sector across the world is one of the major reasons to drive the market forward as it ensures safe and effective water distribution. Smart buildings are also a trend that is increasing the demand for plumbing fixtures and fittings, so is the hospitality sector.
Industry Trend:
Smart Plumbing Products’ new Gen-Eye X-POD comes with a USB port to record videos from inspection for further solutions. The machine has a lightweight camera, reel, and LCD monitor and its mount is adjustable to provide better viewing angles. The device can work well in narrow and tight spaces as well.
JG Prolock is another product from the same company that is made of polymer but works well with copper, PEX, and CPVC. The product is easy to fit and remove as no tool is required to remove the product from its previous position.
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Segmentation:
The global plumbing fixtures and fittings market can be segmented by material and product.
Material-wise, the plumbing fixtures, and fittings market can be segmented into vitreous China, metal, and plastic. Plastic is gaining prominence as it contracts no rust, lightweight, and affordable.
Product-wise, the plumbing fixtures, and fittings market includes bathroom fixtures & fittings, kitchen and sink fixtures & fittings, and toilet fixtures & fittings.
Regional Analysis:
Region-specific analysis of the plumbing fixtures and fittings market enlists North America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA).
The APAC region is touted to dominate the global market with the maximum market share. The region is witnessing construction sector growing in leaps and bounds with several large-scale ongoing projects creating huge demand for plumbing fixtures and fittings. Further growth is also assured as many such projects are in the pipeline and thousands in the planning stage. China and India are contributing significantly to the regional market. Furthermore, smart buildings and homes have created an opportunity for the plumbing fixtures and fittings market further as builders have grown keener to implement technology that is eco-friendly and can substantiate the smart building standards. North America and Europe are also fetching a significant amount of revenue.
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Market Insight:
The market is thriving owing to its dependency on tactical changes made by companies that include mergers, acquisition, collaboration, new product launch, and other methods. These steps ensure the company’s prospect and further the expansion process of the sector. For instance, Jacuzzi Brand LLC announced recently about its acquisition of Hydropool, who has a name as global manufacturer and seller of swim spas and hot tubs, to increase its portfolio
The key players of plumbing fixtures & fittings market are Jacuzzi Inc. (U.S.), MAAX Bath Inc. (Canada), Fortune Brands Home & Security, Inc. (U.S.) Masco Corporation (U.S.), Kohler Co. (U.S.), Geberit AG (Switzerland), LIXIL Group Corporation (Japan), Elkay Manufacturing Company, Inc. (U.S.), TOTO Ltd. (Japan), Roca Sanitario, S.A. (Spain), and others.
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