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The plumbing fixtures and fittings market is estimated to grow at a CAGR of 7% between 2022 and 2027. The size of the market is forecast to increase by USD 40.97 billion. The growth of the market depends on several factors, including the rise in construction activities, the growing use of touchless plumbing fixtures, and the rise in urbanization.
This report extensively covers market segmentation by application (FoTW and BTW), distribution channel (offline and online), and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rise in urbanization is notably driving market growth. With the rise in urbanization as well as the growth in construction activities, residential and non-residential end-users are widely adopting plumbing fixtures and fittings. Growing urbanization will lead to an increase in the demand for houses or apartments, which in turn will lead to an increase in the demand for plumbing fixtures and fittings during the forecast period.
Rapid economic growth in developing countries of APAC, such as China and India, has resulted in a significant increase in the disposable income of consumers in these countries. With greater spending power, consumers will opt for plumbing fixtures and fitting products with better quality and aesthetics. This will lead to the growth of the market during the forecast period.
Growing demand for prefab and mobile homes is the key trend in the market. The high cost incurred on conventionally on-site built homes and increasing focus on energy efficiency are driving the demand for prefabricated (prefab) and mobile homes in several markets. The cost of on-site houses has been growing faster than the growth in income among most sections of society, which is encouraging new buyers to invest in prefab homes as a permanent housing solution. As prefab structures contain solutions, such as water taps, valves, showers, and urinals, in their construction, the demand for plumbing may witness constrained growth.
The cost of an on-site-built family home in the US is higher than the average cost of a mobile home. This wide gap in investment options for housing is driving the demand for factory-manufactured houses. Therefore, growing demand for prefab and mobile homes will drive the growth of the market during the forecast period.
Fluctuating raw material prices are the major challenge impeding the market. Raw materials that are used in plumbing fixtures and fittings fluctuate from time to time. The fixtures and fittings should adhere to standardization and certification in order to ensure security and safety. Also, scrap metal and other raw materials have import restrictions, which affect their prices directly, thus, resulting in price fluctuations. Moreover, the strict regulations imposed to maintain the quality of materials (such as tin, lead, and nickel), which are used in bathroom as well as kitchen fixtures, are expected to hinder the growth of the market. In addition, the temporary shortage of steel can result in an increased cost of production for plumbing fixtures and fittings. Therefore, fluctuating raw material prices will negatively impact the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Plumbing Fixtures and Fittings Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The Jaquar Group - The company offers plumbing fixtures and fittings such as faucets, showers, sanitaryware, water heaters, bathtubs, and shower panels as its key offering. The company focuses on offering showers, faucets, flushing systems, bathtubs, shower panels, saunas, lights, and other accessories.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth of the FoTW segment will be significant during the forecast period. Front of the Wall (FoTW) fixtures and fittings are plumbing products that are generally visible within the building. They include water outlets as well as fixtures associated with them, such as showerheads, taps/faucets, sinks, and bathroom ceramics. End-users of FoTW fixtures and fittings plumbing products mainly focus on aesthetic features, due to which the demand for these products is heavily influenced by consumer trends.
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The FoTW segment was valued at USD 65.64 billion in 2017 and continued to grow until 2021. The market for FoTW fixtures and fittings plumbing products is expected to grow as the vendors in this market are continuously enhancing their product portfolio. Some vendors are introducing new and stylish product solutions for bidets, washbasins, and urinals to offer the perfect solution for all FoTW sanitary ceramics. Some are incorporating new technologies to create an ultimate bathroom experience. The demand for FoTW fixtures and fittings plumbing products is also increasing due to growing construction across residential and non-residential properties in developing countries, such as India.
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APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The plumbing fixtures and fittings market in APAC is expected to grow as vendors in this region are expanding their geographic reach to new and growing markets. This will help them in meeting customer requirements, thus supporting vendors to be in line with their growth strategy. Some of the vendors are focusing on extending their presence on e-commerce platforms. For instance, in April 2020, Lixil Group announced that it had launched a new store on one of China's e-commerce platforms, JD. The market in this region is also supported by the regulatory authorities.
The demand for plumbing fixtures and fittings was negatively affected due to the COVID-19 outbreak. In the second half of 2021, the demand for plumbing fixtures and fittings increased as construction sites got reopened and governments started supporting the recovery of the construction industry. In countries such as India, the respective government is focusing on reducing imports and making the country self-reliant by attracting investments in various industries, including construction. Also, there has been a rise in residential construction in APAC since the second half of 2021 and 2022, which will translate to the gradual growth of the market in APAC during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Plumbing Fixtures And Fittings Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7% |
Market growth 2023-2027 |
USD 40.97 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.65 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 39% |
Key countries |
US, Saudi Arabia, China, India, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AKW Medi-Care Ltd., American Bath Group, Delta Faucet Co, Elkay Manufacturing Co., Geberit AG, Gerber Plumbing Fixtures LLC, HSIL Ltd, Ideal Standard Gulf FZCO, Jacuzzi Brands LLC, LIXIL Corp., Masco Corp., Midland Industries, neXgen Plumbing Products, Roca Corporacion Empresarial SA, Somany Ceramics Ltd., The Jaquar Group, Toto Ltd., United States Plastic Corp., Victorian Plumbing, and Villeroy and Boch AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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