Plumbing Fixtures and Fittings Market – Exclusive Analysis of Trends and Growth Opportunities to 2030

plumbing fixtures and fittings market

NEW YORK, NEW YORK, USA, February 8, 2022 /EINPresswire.com/ — plumbing fixtures and fittings market Driven by rapid infrastructure development across the world

The latest Market Research Future (MRFR) report reveals that the global plumbing fixtures and fittings market is poised to grow at a CAGR of 5.88% during the reporting period.

The major market players identified by MRFR in the global plumbing fixtures and fittings market are Fortune Brands Home & Security, Inc. (US), Geberit AG (Switzerland), LIXIL Group Corporation (Japan), Masco Corporation (US United States), Roca Sanitario, SA (Spain), TOTO LTD (Japan), GWA Group Limited (Australia), Kohler Co. (United States), Elkay Manufacturing Company (United States), Hindware Homes (India).

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Drivers and Restrictions

During the forecast period, the global market is likely to be driven by various influential factors, such as booming construction industry and environment-friendly plumbing solutions. on the other hand, volatility in commodity rates is expected to hamper the market growth over the forecast period.

Industry News

In May 2019, LIXIL Group Corporation, a major player in the Japanese market, launched new cutting-edge technology and distinguished designs across its portfolio of leading global brands.

In April 2019, GWA Group Limited, a global market giant, completed the acquisition of Methven Limited, a leading New Zealand-based tap and shower company.

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Segmental analysis

The global plumbing fixtures and fittings market is segmented on the basis of product, material, and application. On the basis of material, the global plumbing fixtures and fittings market has been segmented into metal, vitreous china, and plastic. Vitreous china segment is expected to dominate the market share during the considered period as this material has superior properties such as sanitary, highly durable and also has stain resistant surface.

On the basis of product, the global plumbing fixtures and fittings market is segmented into kitchen and sink fixtures and fittings, bathroom fixtures and fittings, toilet fixtures and fittings, and others. Bathroom fixtures and fittings are the main segments, which include bathtubs, faucets, shower enclosures and sinks, sinks, towel racks, wall mirrors, coat hooks, fixtures and others. The increasing development of residential construction is one of the major factors driving the increase in demand for bathroom fixtures and fittings segment over the assessment period.

Based on application, the global plumbing fixtures and fittings market has been segmented into commercial and residential. The residential segment accounts for the maximum market share, owing to the increasing population growth and rapid urbanization taking place across the globe.

Regional analysis

Based on region, the plumbing fixtures and fittings market is segmented into Asia-Pacific (APAC), North America, Middle East & Africa, Europe, and South America.

Asia-Pacific is likely to become a leading region for the plumbing fixtures and fittings market owing to the rapid urbanization and industrialization of emerging economies such as India, China, and Japan. furthermore, activities such as renovation and refurbishment of old infrastructure have attracted large investments in the residential and construction sectors, which has consequently boosted the market for plumbing fixtures and fittings over the past the forecast period.

North America is one of the leading regions in the global plumbing fixtures and fittings market and accounts for the second largest market share in the market during the reporting period. The region is expected to experience significant growth in the construction industry, due to the rise in real estate investment. These influential factors are estimated to propel the plumbing fixtures and fittings market in this region.

Additionally, Europe, Middle East and Latin America regions are also expected to grow as lucrative markets for plumbing fixtures and fittings, driven by growing population in the regions, which is expected to contribute to the infrastructure growth and construction development in these regions. Regions. This factor is consequential to the growth of the plumbing fixtures and fittings market in the regions over the assessment period.

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Key questions addressed by the report

• What was the historical market size (2018)?
• Which segmentation (Hardware/Product/Application is driving the market?
• What will be the growth rate by 2024?
• What are the main players in this market like?
• What are the strategies adopted by the key players?

About Market Research Future:

Market Research Future (MRFR) is a global market research company that prides itself on its services, offering comprehensive and accurate analysis with respect to various markets and consumers around the world. Market Research Future has the distinct objective of providing clients with top quality research and granular research. Our market research by products, services, technologies, applications, end users and market players for global, regional and country market segments enables our clients to see more, know more and do more , which helps answer your most important questions. questions.

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Future of Market Research
Research WantStats and Media Pvt. ltd.
+1 628-258-0071
write to us here
Visit us on social media:
Facebook
Twitter
LinkedIn