Plumbing Fixtures Market To Report Impressive Growth, Revenue To Surge To US$120 Billion By 2024

25-Oct-2018 | Zion Market Research

With the presence of a large pool of participants, the global plumbing fixtures market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). MAAX Bath Incorporation, Elkay Manufacturing Company, Roca Sanitario, S.A., TOTO Limited, Fortune Brands Home & Security Incorporation, LIXIL Group Corporation, and Masco Corporation are some of the key vendors of plumbing fixtures across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the plumbing fixtures market study.

This review is based on a report by Zion Market Research, titled Plumbing Fixtures Market by Product (Toilet, Sink, Showers, Bathtub, and Others), by Material (Plastics, Metal, and Vitreous China), by Application (Residential [Renovated and New building] and Commercial) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024.- Report at https://www.zionmarketresearch.com/report/plumbing-fixtures-market

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Citing an instance, in September 2018, Torrco Plumbing Supply- a plumbing supply firm – declared of expanding its presence in Grace Church Street in the U.S. village. Reportedly, the firm has entered into a lease agreement for nearly 19,900 sq ft of industrial –flex space at the Grace Church Street.

Global Plumbing Fixtures Market

As estimated in this report, the global plumbing fixtures market stood at US$ 83 billion in 2017. Witnessing a tremendous rise during the period from 2018 to 2024, the revenue in this plumbing fixtures market is expected to reach US$ 120 billion by the end of the forecast period. The main products available in this plumbing fixtures market are toilet, sink, showers, bathtub, and others. Among them, the demand for bathtub is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.

Thriving Construction Sector To Significantly Drive Market Growth

“Rise in the disposable income, massive investments in the infrastructure facilities, and large investments in smart buildings are few of the major growth drivers of plumbing fixtures market over the years ahead,” says the author of this study. Apart from this, rise in the number of construction activities, particularly in Asian countries are expected to boost plumbing fixtures market demand in the foreseeable future. In addition, launching of new water efficient systems has provided new horizons of growth for plumbing fixtures market.

Large-scale spending on premium quality fixtures such as faucets and showerheads coupled with bathroom renovations are predicted to augment growth of global plumbing fixtures market in the years ahead.

Fluctuating raw material costs as well as their lack of availability however, are predicted to inhibit the growth of plumbing fixtures market in the coming years. Furthermore, strict legislations pertaining to quality of materials such as nickel, lead, and tin are predicted to restrain the expansion of plumbing fixtures market in the years to come.

Massive Rise In Construction Activities To Help Europe Maintain Dominance

Regionally, Europe has been leading the worldwide plumbing fixtures market and is anticipated to continue on the dominant position in the years to come, states the plumbing fixtures market study. Increase in the number of shopping malls and offices are the key factors behind the dominance of the Europe plumbing fixtures market. The high number of market players being headquartered in Europe is another significant factor that is supporting the growth of this regional plumbing fixtures market. In addition, prominent rise in the private construction activities in the countries such as the UK will further stimulate the expansion of the regional market over the years ahead.  

The global plumbing fixtures market is segmented as follows:

By Product

  • Toilet
  • Sink
  • Showers
  • Bathtub
  • Others

By Material

  • Plastics
  • Metal
  • Vitreous China

By Application

  • Residential
    • Renovated
    • New building
  • Commercial 

By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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