Global plumbing fittings and fixtures market to reach $ 106.4 billion by 2026
FACTS AT A GLANCE
Editing: 16; Posted: January 2021
Executive commitments: 9420
Companies: 374â Players covered include 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. Ltd .; Kohler Co .; LIXIL Corporation; Standard American 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.
Blanket: All major geographies and key segments
Segments: Product type (bathroom accessories and accessories, kitchen and sink accessories and accessories, toilet and sink accessories and accessories, other types of products); Application (residential, commercial)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.
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Global Plumbing Fittings and Accessories Market to Reach $ 106.4 billion by 2026
Plumbing fixtures and fixtures are critical components of a plumbing system installed in buildings, whether commercial or residential, for efficient distribution of water throughout the building for drinking, washing and heating. and for the disposal of aqueous waste from the building. Demand in the market is expected to be driven by the increasing number of home purchases, income growth, and home renovations. Rapid urbanization creates a significant demand for housing and its construction, thus promoting the growth of the market. The growing demand for expensive and high-end plumbing fixtures from the luxury accommodation segment and star hotels will also increase the revenues of this segment. The demand for sanitary ware will be mainly driven by the expansion of water treatment infrastructure in developing countries.
In the midst of the COVID-19 crisis, the global plumbing fittings and accessories market is estimated at 81.8 billion USD in 2020, is expected to reach a revised size of $ 106.4 billion by 2026, with a CAGR of 4.4% during the analysis period. Bathroom fixtures and fittings, one of the segments analyzed in the report, is expected to register a CAGR of 4.5% and reach 53.1 billion USD at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, the growth of the kitchen and sink accessories and accessories segment is readjusted to a revised CAGR of 5.1% for the next 7 year period.
The US market is estimated at $ 17.8 billion in 2021, when China is expected to reach $ 28.8 billion by 2026
The market for plumbing fixtures and fittings in the United States is estimated at $ 17.8 billion in 2021. China, the world’s second-largest economy, is expected to reach an expected market size of 28.8 billion USD by 2026, with a CAGR of 5.7% over the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 3.4% and 3.9% respectively over the period of analysis. In Europe, Germany is expected to grow by around 3.4% CAGR. Greater emphasis on personal hygiene and cleanliness, and new construction projects and home improvement programs are contributing significantly to the demand for plumbing fixtures and fixtures in the United States. The rapid pace of industrialization, the sustained increase in manufacturing / industrial activity, economic growth, improving living standards and increasing discretionary spending, as well as rising construction activity are driving growth in the Asia Pacific Region.
Toilet and washbasin segment and accessories to reach $ 17.3 billion by 2026
Sink accessories are products that mainly focus on the sink area in the kitchen and the toilet. These fittings include deck faucets, single lever controls and other sink fittings. Toilet plumbing fixtures include toilet fixtures such as urinals, cisterns, and toilet bowls. In the global segment of toilet and sink accessories and fittings, United States, Canada, Japan, China and Europe will result in the estimated 3.4% CAGR for this segment. These regional markets represent a combined market size of 10.5 billion USD in 2020 will reach a projected size of $ 13.3 billion at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, India, and South Korea, the market of Asia Pacific should reach $ 1.8 billion by 2026, while Latin America will grow at a CAGR of 4.2% throughout the analysis period. After
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