Luxury Plumbing Fixtures Market Size Is $24,646 Million In 2022

The Luxury Plumbing Fixtures Market Report published by Allied Market Research forecasts that the luxury plumbing fixtures market size will be estimated at US$24,646 million by 2022, growing at a CAGR of 4.9% from 2016 to 2022. Europe has a share of around 38.7% of the global luxury sanitary ware market and is expected to remain dominant throughout the analysis period, registering a remarkable CAGR of 4.1%.

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The factors driving the growth of the luxury sanitary faucet market are the increase in urbanization, the improvement in the economic situation, the increasing consumer focus on luxury homes and the increasing adoption of water-efficient faucets. Additionally, the untapped regions of Asia-Pacific and Africa are creating potential growth opportunities for the luxury sanitary faucet market due to the changing lifestyles of customers in these regions. However, high raw material costs are expected to hamper the growth of the luxury sanitary faucet market.

Bathroom faucets, particularly toilets, use the largest amount of water than any other faucet, averaging 30%. Similarly, inefficient or old toilets are a major source of water wastage. The US Environmental Protection Agency says that traditional flush systems that use six gallons of water per flush should be replaced with high-efficiency WaterSense-labeled toilets that use only 1.28 gallons or less. These new models offer better or superior performance than older toilets, saving water by 20-60%.

Advancements in toilets have seen significant growth over the years, ensuring a user-friendly experience for consumers. Various manufacturing companies such as Kohler Numi launched advanced toilet fittings in May 2011, including heated seats and foot warmers, integrated bidet function and deodorizer, dual flush system with 1.9 liters per flush, and an automatic lid that opens and closes using a sensor. Bathroom faucets contributed the highest sales in 2015, while kitchen faucets are expected to grow the most.

The end users of the luxury sanitary fittings industry are residential and non-residential sectors. The residential sector generated the highest revenue in 2015 and is expected to remain dominant over the forecast period, with increasing focus on water efficiency standards in the residential sector. The segment is expected to grow the fastest until 2022.

Asia-Pacific is expected to grow at the highest CAGR of 6.0% due to increasing urbanization and changing consumer lifestyles in developing countries like China, India and Thailand, driving demand for luxury sanitary faucets in the US has increased region. However, the Middle East is the second fastest growing region due to the increase in consumer luxury spending in the global luxury sanitary faucet market.

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Allied Market Research (AMR) is a full-service market research and business consulting arm of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global, medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR strives to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market space.

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