SAN FRANCISCO, May 20, 2021 / PRNewswire / – A new market study published by Global Industry Analysts Inc. (GIA), the leading market research firm, today released its report entitled “Plumbing Fixtures – Global Market Trajectory & Analytics”. The report offers new perspectives on opportunities and challenges in a significantly changed post-COVID-19 market.
FACTS AT A GLANCE
Edition: 16; Released: January 2021
Executive engagements: 9420
Companies: 374– The players covered include the American Bath Group; MAAX Bath Inc .; Asahi Eito Co., Ltd .; Cera Sanitaryware Ltd .; Elkay Manufacturing Company; Geberit AG; Hindustan Sanitaryware & Industries Ltd .; Ideal Standard International; Jacuzzi, Inc .; Jaquar and Company Pvt. GmbH.; 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.
Cover: All major regions and key segments
Segments: Product Type (Bathroom Faucets, Faucets for Kitchens and Sinks, Faucets and Faucets for Toilets and Sinks, other types of products); Application (residential, commercial)
Geographies: World; United States;; Canada;; Japan;; China;; Europe;; France;; Germany;; Italy;; UNITED KINGDOM; Spain;; Russia;; the rest of Europe;; Asia Pacific;; Australia;; India;; South Korea;; the rest of Asia Pacific;; Latin America;; Argentina;; Brazil;; Mexico;; the rest of Latin America;; middle East;; Iran;; Israel;; Saudi Arabia;; UAE; the rest of middle East;; Africa.
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Reaching global plumbing fixtures and fittings market $ 106.4 billion by 2026
Plumbing fixtures are important components of a plumbing system installed in commercial or residential buildings to efficiently distribute water around the building for drinking, washing and heating, and to remove water-based wastes from the building. Demand in the market is expected to be driven by the growing number of home purchases, income growth and home remodeling. The rapid urbanization leads to a considerable demand for residential units and their construction and thus favors the growth of the market. The growing demand for expensive high-end sanitary fittings from the luxury apartment segment and star hotels will also contribute to sales in this segment. The demand for sanitary fittings is driven in particular by the expansion of the water treatment infrastructure in developing countries.
In the midst of the COVID-19 crisis, the global market for sanitary fittings is valued at $ 81.8 billion a revised size of is to be achieved in 2020 $ 106.4 billion until 2026 with a CAGR of 4.4% in the analysis period. Bathroom fittings, one of the segments analyzed in the report, are forecast to have a CAGR of 4.5% and a range $ 53.1 billion until the end of the analysis period. After a thorough analysis of the business impact of the pandemic and its triggered economic crisis, growth in the Kitchen & Sink Fixtures & Fittings segment will be adjusted to a revised CAGR of 5.1% for the next 7 year period.
The US market is estimated at $ 17.8 billion in 2021, while China is expected to reach $ 28.8 billion by 2026
The US plumbing fixture market is valued at $ 17.8 billion in 2021. ChinaThe world’s second largest economy is expected to have a forecast market size of $ 28.8 billion By 2026, the CAGR was behind 5.7% in the analysis period. Among the other notable geographic markets are Japan and CanadaEach forecast will grow 3.4% and 3.9%, respectively, over the analysis period. Within Europe, Germany is expected to grow by approximately 3.4% CAGR. Increased emphasis on personal hygiene and cleanliness, as well as new construction projects and renovation programs, are major contributors to the demand for plumbing fixtures in the United States. The rapid pace of industrialization, the sustained increase in production / industry, economic growth, the improvement in living standards and the increase in discretionary spending, as well as increased construction activity, drove growth in the United States Asia Pacific Region.
Accessible segment for toilet and sink fittings $ 17.3 billion by 2026
Sink fittings are products that mainly focus on the sink area in the kitchen and toilet. These fittings include deck fittings, single lever controls, and other sink fittings. Plumbing fixtures include toilet fixtures such as urinals, flush tanks and water closet bowls. In the global WC & Sink Fixtures & Fittings segment United States, Canada, Japan, China and Europe will increase the estimated CAGR for this segment by 3.4%. These regional markets have a combined market size of $ 10.5 billion in 2020 will reach a projected size of $ 13.3 billion until the end of the analysis period. China will be among the fastest growing in this cluster of regional markets. Led by countries like Australia, India, and South Korea, the market in Asia Pacific is expected to achieve $ 1.8 billion until 2026 while Latin America will expand with a CAGR of 4.2% over the analysis period. More
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