According to a new report from Allied Market Research titled Sanitary Faucets Market By Type & End-User: Global Opportunity Analysis & Industry Forecast, 2017-2023The plumbing market was valued at $ 75,042 million in 2016 and is expected to reach $ 1,12427 million by 2023, a CAGR of 6.0% from 2017 to 2023. The Asia-Pacific region is expected to be the largest contributor to the global plumbing fixture market, followed by Europe and North America.
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The increase in the disposable income of consumers, increasing urbanization and changing lifestyles of consumers, as well as the increase in the standard of living are promoting the acceptance of bathroom and kitchen fittings in the industry and thus driving the growth of the market for sanitary fittings. In addition, high growth in construction activity in Asia-Pacific regions such as India and China is expected to fuel growth in the plumbing market.
However, fluctuating raw material costs and regulatory requirements related to shower heads and faucets are expected to hamper the growth of the plumbing fixtures market. Various advances in plumbing technology and the introduction of water efficient plumbing fixtures such as flow taps and sensors and double flush toilets, which are major contributors to fresh water conservation, are expected to offer numerous opportunities in the plumbing fixture market.
Important market participants
- Kohler Co.
- Globe Union Industrial Corporation
- Lixil Group Corporation
- Toto Ltd.,
- Masco Corporation
- MAAX Holdings, Inc.
- Roca plumbing
- Bradley Corporation
- Elkay Manufacturing Company
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Important market segments
According to device type
- Shower heads
- Toilets / urinals
- Others (bidets, hand showers, valves)
Through kitchen fittings
According to end user
- Non-residential buildings
- North America
- Asia Pacific
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Allied Market Research (AMR) is a full-service market research and management consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research offers global corporations as well as medium and small businesses unmatched quality of market research reports and business intelligence solutions. AMR strives to provide business insights and advice to assist its clients with strategic business decisions and sustainable growth in their respective market domains.