The Global Plumbing Fixtures And Fittings Market Is Poised To Expand At 5.88% CAGR IN 2020 | Industry Shares, Opportunities, Development Status, Key Findings and Growth Forecast to 2024
Research Reports
Dec 29, 2020
The latest report by Market Research Future (MRFR), reveals that the global plumbing fixtures and fittings market is poised to expand at 5.88% CAGR during the review period.
Drivers and Restraints
During the forecast period, the global market is likely to be driven by various influential factors, such as the booming construction industry and environmentally friendly plumbing solutions. on the other hand, the volatile raw material rates are expected to hamper the market growth over the forecast period.
Segmental Analysis
The global market for plumbing fixtures and fittings are segmented on the basis of product, material, and application. Based on the material, the global market for plumbing fixtures and fittings has been segmented into metal, vitreous china, and plastics. The vitreous china segment is expected to lead the market share over the review period, since this material has superior properties such as as sanitary, highly durable, and it also has a stain-resistant surface.
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On the basis of product, the global market for plumbing fixtures and fittings is segmented into the kitchen and sink fixtures & fittings, bathroom fixtures & fittings, toilet fixtures & fittings, and others. The bathroom fixtures & fittings are the leading segments, which includes bathtubs, faucets, shower stalls & receptors, washbasins, towel bars, wall mount mirrors, robe hook, lighting fixtures, and others. The growing residential constructional development is one of the primary factors to raise the demand for bathroom fixtures & fittings segment over the assessment period.
On the basis of application, the global market for plumbing fixtures and fittings has been segmented into commercial and residential. The residential segment accounts for the maximum market share, owing to the rising population growth and rapid urbanization taking place across the globe.
Regional Analysis
On the basis of region, the plumbing fixtures and fittings market is segmented into Asia-Pacific (APAC), North America, the Middle East & Africa, Europe, and South America.
Asia-Pacific is likely to grow as a prominent region for plumbing fixtures and fittings market owing to the rapid urbanization and industrialization in emerging economies, such as India, China, and Japan. in addition, activities such as the renovation and refurbishing of old infrastructure have attracted extensive investments in the residential and construction industries, which is consequently driving the plumbing fixtures and fittings market during the forecast period.
North America is one of the major regions in the global market for plumbing fixtures and fittings and accounts for the second-largest market share in the market over the review period. The region is expected to witness significant growth in the construction industry, due to the rise in real estate investments. These influential factors are estimated to propel the plumbing fixtures and fittings market in this region.
Aditonally, Europe, the Middle East and Latin Amercan regions are also expected to grow as lucrative markets for plumbing fixtures and fittings, driven by the population growth in the regions, which is expected to contribute towards the growth of the infrastructure and constructional development in these regions. This factor is consequential towards the growth of the plumbing fixtures and fittings market in the regions over the assessment period.
Key Market Players
The major market players identified by MRFR in the global plumbing fixtures and fittings market are Fortune Brands Home & Security, Inc. (the US), Geberit AG (Switzerland), LIXIL Group Corporation (Japan), Masco Corporation (US), Roca Sanitario, S.A. (Spain), TOTO LTD (Japan), GWA Group Limited (Australia), Kohler Co. (US), Elkay Manufacturing Company (US), Hindware Homes (India).
Industrial News
In May 2019, LIXIL Group Corporation, a leading market player from Japan, launched a new cutting-edge technology and distinguished designs through its portfolio of major global brands.
In April 2019, GWA Group Limited, a global giant in the market, accomplished the acquisition of Methven Limited, a leading taps and showers leader based in New Zealand.
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Key Questions Addressed by the Report
- What was the historic market size (2020)?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate by 2023?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
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Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
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State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com
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