Global Plumbing Fittings and Fixtures Market to Reach $106.4 Billion by 2026
FACTS AT A GLANCE
Edition: 16; Released: January 2021
Executive assignments: 9420
Businesses: 374– Players include the American Bath Group; MAAX Bath Inc .; Asahi Eito Co., Ltd .; Cera Sanitary Ltd .; Elkay Manufacturing Company; Geberit AG; Hindustan Sanitary & Industries Ltd.; Ideal Standard International; Jacuzzi, Inc .; Jaquar and Company Pvt. Ltd .; Kohler Co .; LIXIL Corporation; American standard brands; Grohe AG; Masco Corporation; Moen Incorporated; Roca Sanitario SA; Roca UK; Roca Bathroom Products Pvt., Ltd .; Spectrum Brands Incorporated; Toto Ltd .; Villeroy & Boch and others.
Coverage: All major regions and major segments
Segments: Product type (fixtures and fittings for bathrooms, fixtures and fittings for kitchen and sinks, fixtures and fittings for toilets and sinks, other product types); Application (residential, commercial)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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Reach global market for plumbing fittings and fixtures $ 106.4 billion by 2026
Plumbing fittings and fixtures are critical components of a plumbing system installed in buildings, both commercial and residential, for efficient distribution of water in the building for drinking, washing and heating and for removing water-borne waste from the building. Market demand is expected to be driven by a growing number of home purchases, income growth and home remodeling. Rapid urbanization creates a significant demand for housing units and their construction, driving the growth of the market. The growing demand for expensive, high-quality sanitary fittings from the segment of luxury homes and star hotels will also contribute to the revenues for this segment. The demand for sanitation is mainly driven by the expansion of water treatment infrastructure in developing countries.
Amid the COVID-19 crisis, the global plumbing fittings and fixtures market was estimated to be US $ 81.8 billion in the year 2020, is expected to reach a revised size of US $ 106.4 billion by 2026, growing at a CAGR of 4.4% over the analysis period. Bathroom fixtures and fittings, one of the segments analyzed in the report, are expected to achieve and achieve a CAGR of 4.5% US $ 53.1 billion at the end of the analysis period. After an in-depth analysis of the business implications of the pandemic and the associated economic crisis, growth in the Kitchen & Sink Fixtures & Fittings segment will be adjusted to a revised 5.1% CAGR for the next 7 years.
The US market is estimated to be $ 17.8 billion in 2021, while China is expected to reach $ 28.8 billion by 2026
The market for plumbing fittings and fixtures in the US is estimated to be US $ 17.8 billion in the year 2021. China, the world’s second largest economy, is expected to have an expected market size of US $ 28.8 billion by the year 2026 with a CAGR of 5.7% over the analysis period. Among the other notable geographic markets are Japan and Canada, each forecast to grow by 3.4% and 3.9%, respectively, during the analysis period. Within Europe, Germany is expected to grow at approximately 3.4% CAGR. Increased emphasis on personal hygiene and cleanliness, and new construction projects and renovation programs are contributing significantly to the demand for plumbing and plumbing in the US. Rapid industrialization, sustained increase in production / industrial activity, economic growth, improvement in living standards and increase in discretionary spending, along with rising construction activities stimulate the growth of the Asia Pacific region.
Toilet and Sink Fixtures and Fittings Segment to Reach $ 17.3 billion by 2026
Sink fittings are products that mainly focus on the kitchen sink and toilet. These fittings include deck faucets, single lever controls, and other sink accessories. Sanitary facilities for toilets include toilet facilities such as urinals, flushing tanks and toilet bowls. In the global WC & Washbasin Fittings & Fittings segment, USA, Canada, Japan, China and Europe will drive the 3.4% CAGR estimated for this segment. These regional markets account for a combined market size of US $ 10.5 billion in the year 2020 will reach an expected size of US $ 13.3 billion by the end of the analysis period. China remains one of the fastest growing in this cluster of regional markets. Guided by countries like Australia, India, and South Korea, into the market Asia Pacific is expected to achieve US $ 1.8 billion by the year 2026, while Latin America will expand with a CAGR of 4.2% over the analysis period. More
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