The continuous development of the market for luxury sanitary fittings is due to the increasing preference for sustainable and water efficient solutions, the increasing per capita income and the improvement in economic conditions. Consumers’ propensity for advanced features and aesthetics in bathrooms and kitchens is a huge driving force behind product sales.
Robust advances in the plumbing industry have resulted in the development of luxury fixtures such as bathrooms integrated with AV systems, double flush toilets, and fixtures with motion sensors, creating lucrative growth opportunities for the overall market. The development of smart faucets has met consumer demand for efficiency and appearance.
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Strict government regulations to reduce water consumption in the commercial and private sectors also encourage the development of modern sanitary solutions. According to the EPA, 50% of the water in the US Global Market Insights, Inc. projects is used for indoor activities. The global luxury plumbing fixtures market size is expected to expand steadily through 2024.
The growing tendency towards sensor-controlled valves, heated seats and touchless bathrooms is driving the use of innovative bathroom products. It is estimated that the bathroom segment of the luxury plumbing industry will grow at a CAGR of 4.5% over the 2017-2024 period.
Leading manufacturers and suppliers of luxury sanitary fittings include Noble Corp., Grohe, American Standard, Little Giant, Fiberez Bathware, Natphil, Johler, Sterling Faucet, Delta, Cera Sanitary Articles, Matco-Norca and Toto.
T.The kitchen segment is projected to reach $ 4.6 billion by 2024This is mainly due to the shift in focus to renovation work and the growing demand for high quality showers and faucets. Based on the range of applications, a growth rate of 4.9% compared to the previous year is expected for the residential segment by 2024.
The improvement in economic conditions and increasing consumer spending on high-quality interiors are having a positive impact on the industry’s outlook. The introduction of low interest rates and affordable home loans has allowed consumers to spend on high-end products. The commercial applications segment held a 35% market share in 2016. Increasing investments in commercial buildings such as offices, hotels and restaurants favor the market trends.
The increasing adoption of international furnishing standards and the increasing number of multinational hotel franchises in developing regions encourage the installation of luxury furnishings. It is estimated that the Asia Pacific region accounted for 25% of the total luxury plumbing fixture market share in 2016. The rapid expansion of the trading sector, mainly due to the increasing number of international investors, is promoting infrastructure development in the Asia-Pacific region.
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Alternative, The luxury plumbing industry in North America will see steady growth in the years to come. The lack of adequate water sources has increased the replacement of traditional products with more water efficient faucets and showers.
Chapter 3. Insights into the luxury plumbing fixtures
3.1. Industry segmentation
3.2. Industrial landscape, 2013-2024
3.3. Analysis of the industrial ecosystem
3.3.1. Sales channel analysis
3.3.2. Profit margin trends
3.3.3. Supplier matrix
22.214.171.124. The role of the key player
126.96.36.199. Product portfolio
188.8.131.52. global presence
3.4. Technology landscape
3.5. Regulatory landscape
3.5.1. North America
3.6. Industry best practices and key purchase criteria
3.7. Price analysis by region
3.7.1. North America
3.7.3. Asia Pacific
3.7.4. Latin America
3.8. Cost structure analysis
3.9. Innovation & Sustainability
3.10. Influences of industry
3.10.1. Growth drivers by region
184.108.40.206. North America
220.127.116.11. Asia Pacific
18.104.22.168. Latin America
3.10.2. Pitfalls and challenges in the industry
3.11. Overview of the global hardware store industry
3.12. Industry overview of the global sanitary fittings market
3.12.2. Consumer requirements
3.12.3. Global Plumbing Fixtures Market Estimations and Forecasts, 2016-2024
3.13. Growth potential analysis, 2016
3.14. Competitive Landscape, 2016
3.14.1. Market share analysis, 2016
3.14.2. Main actors
3.14.3. Top player overview
3.14.4. Strategy dashboard
22.214.171.124. Expansion through supply agreements, mergers and joint ventures
3.15. Porter’s analysis
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