Plumbing Fixtures Fittings Market

Rapid industrialization, urbanization, and technological advancements Boost market growth.

Residential and non-residential end-users are widely adopting plumbing fixtures and fittings as a result of increased urbanization and an increase in building activity. During the projected period, increasing urbanization will raise demand for homes or flats, enhancing demand for plumbing fixtures and fittings. The market for plumbing fixtures and fittings is changing due to technological innovation. Major plumbing fixtures and fittings manufacturers are moving closer to implementing new technologies and responding to plumbing fixtures and fittings market research and advances.

Around 54% of the world's population resided in urban areas as of 2014, and another 2.5 billion people are expected to move there by 2050, according to the United Nations' World Urbanization Prospects, 2014 version. As more people move into cities, it is expected that they will use modern amenities, such as luxurious plumbing fixtures in their kitchens and bathrooms.

For instance, Prince Pipes and Fittings, an Indian PVC pipe maker and multi-polymer processor, released a prince one for CPVC piping systems with Corzan CPVC technology in collaboration with Lubrizol investors in August 2021. The new CPVC pipes offer heat, U.V., flame, and smoke pressure resistance along with other innovative technologies.

Fig 1: Then and now urban population worldwide (1950-2020)

For instance, Prince Pipes and Fittings, an Indian PVC pipe maker and multi-polymer processor, releases a prince one for CPVC piping systems with Corzan CPVC technology in collaboration with Lubrizol investors in August 2021. The new CPVC pipes offer heat, U.V., flame, and smoke pressure resistance along with other innovative technologies.

The market for plumbing fixtures is impacted by urbanization, consumer lifestyle changes, rising disposable income, significant expenditures in smart homes, high raw material costs, regulatory restrictions, and improvements in plumbing technology and water-efficient plumbing. These important aspects have accelerated the adoption of plumbing fittings. Therefore, such factors related to the plumbing fixtures and fittings market have enhanced the plumbing fixtures and fittings market CAGR ly in recent years.

However, expanding the plumbing fittings market is anticipated to be fueled by high infrastructure expenditure, rising disposable income, and expanding investment in smart homes and buildings. Is another factor driving the growth of the plumbing fixtures and fittings market revenue

The Global Plumbing Fixtures And Fittings Market Industry experiences a notable boost due to increasing urbanization. As more individuals migrate to urban areas, the demand for residential and commercial buildings rises. This trend necessitates the installation of plumbing fixtures and fittings, which are essential for modern infrastructure. For instance, urban centers are projected to expand significantly, leading to an estimated market value of 99.3 USD Billion in 2024. The need for efficient plumbing systems in densely populated areas drives innovation and investment in plumbing technologies, thereby enhancing the overall market landscape.

Regulatory compliance is a significant driver in the Global Plumbing Fixtures And Fittings Market Industry. Governments worldwide are implementing stringent regulations aimed at improving water conservation and safety standards. These regulations compel manufacturers to innovate and produce fixtures that meet specific criteria, thereby fostering a competitive market environment. Compliance with these regulations not only enhances product quality but also boosts consumer confidence. As a result, the industry is likely to see increased investments in research and development to create compliant products. This focus on regulatory adherence is expected to sustain market growth in the coming years.

Sustainability is becoming a pivotal driver in the Global Plumbing Fixtures And Fittings Market Industry. Consumers and regulatory bodies increasingly prioritize eco-friendly products that conserve water and energy. This shift is evident in the growing popularity of low-flow faucets and water-efficient toilets. Manufacturers are responding by developing innovative solutions that meet these sustainability standards. As a result, the market is likely to witness a compound annual growth rate of 5.4% from 2025 to 2035. This emphasis on sustainability not only addresses environmental concerns but also aligns with the global push for greener building practices.

Technological advancements play a crucial role in shaping the Global Plumbing Fixtures And Fittings Market Industry. Innovations such as smart plumbing systems and IoT-enabled fixtures are transforming traditional plumbing practices. These technologies enhance efficiency, reduce water wastage, and improve user experience. For example, smart faucets that automatically adjust water flow based on usage are gaining traction. As these technologies become more mainstream, they are expected to drive market growth significantly. The integration of advanced technologies is likely to contribute to the projected market value of 177.1 USD Billion by 2035, reflecting the industry's adaptability to changing consumer preferences.

The Global Plumbing Fixtures And Fittings Market Industry is closely linked to the growth of the construction sector. As economies expand, there is a corresponding rise in construction activities, including residential, commercial, and industrial projects. This surge in construction directly correlates with the demand for plumbing fixtures and fittings, as they are integral components of any building project. The construction sector's growth is anticipated to drive the market value significantly, contributing to the overall increase in demand for plumbing solutions. This trend underscores the interdependence between construction and plumbing industries, reinforcing the market's potential for growth.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. The Asia Pacific plumbing fixtures and fittings market accounted for USD 48.2 million in 2021 and is expected to exhibit a significant CAGR growth during the study period. This expansion is linked to the numerous new development initiatives throughout Asia. More than 10,000 projects, including the building of factories, offices, hospitals, schools, airports, train stations, and other similar facilities, were underway in 2018. These projects included the construction of malls and shopping centers, restaurants and hotels, hospitals, schools, and educational institutions.

According to two government officials who asked to remain anonymous because the information has not yet been made public, the Indian government may wind up spending more than the 1.60 trillion rupees it had allotted for the rural development ministry for the current fiscal year. For instance, the advent of programs like India's Pradhan Mantri Awas Yojana (PMAY) and Pradhan Mantri Gramin Awas Yojana has increased building activity and boosted demand for plumbing fixtures and fittings. Additionally, as the population grows, so does the amount of housing work, which drives up demand for plumbing fixtures and fittings.

Further, the major countries studied in the plumbing fixtures and fittings market report are The U.S., Canada, Germany, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3:  PLUMBING FIXTURES AND FITTINGS MARKET SHARE BY REGION 2021 (%)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

In 2020, North America accounted for more than 22.0% of worldwide sales, making it the Region with the largest North American plumbing fixtures and fittings market for plumbing fixtures. The Americans have been breaking records by housing more bathrooms than is typical. Over 44% of American homes have at least one bathroom, each with an attached bathroom. It is predicted that this trend will raise the standards for plumbing fixtures. Further, the U.S. plumbing fixtures and fittings market held the largest market share, and the Canada plumbing fixtures and fittings market was the fastest growing market in this region

Europe's plumbing fixtures and fittings market accounts for the second-largest market share due to industrialization having advanced quickly, and population expansion has fueled the demand for inexpensive housing. The country's market for plumbing fixtures and fittings is anticipated to increase significantly along with the building sector. Further, the German plumbing fixtures and fittings market held the largest market share. The U.K. plumbing fixtures and fittings market was the fastest-growing market in the European Region during the forecast period.

Major market players are investing a lot of money in R&D to expand their product portfolios, which will spur further market growth for the market for plumbing fixtures and fittings. With significant industry changes, including new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market developments are also undertaking various strategic activities to expand their presence. To grow and thrive in a market that is becoming more competitive and growing, competitors in the plumbing fixtures and fittings industry must provide affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use worldwide plumbing fixtures and fittings to benefit customers and increase the market sector. The plumbing fixtures and fittings industry has recently given medicine some of the most important advantages. The plumbing fixtures and fittings major players such as Medtronic Inc (Ireland), Abbott Laboratories (U.S.), Stryker Corporation (U.S.), and others are working on expanding the market demand by investing in research and development activities.

The Tokyo-based Lixil Group is a conglomerate of Japanese businesses that produce plumbing fittings, housing equipment, and building supplies. On November 6, 2018, LIXIL announced a new collaboration with the Bill & Melinda Gates Foundation to test at least two markets for a potentially groundbreaking "reinvented toilet" for domestic use. The Reinvent, the Toilet Challenge, is the source of this.

Also, GWA Group Limited, formerly Great Western Australia Ltd., is an Australian distributor of consumer goods for the home. GWA Group Limited is buying Methven Limited. They are the top maker of shower and bathroom accessories. It is anticipated that this will expand the market's product offering and portfolio. Additionally, these businesses, situated in Australia, will increase demand in the Asia Pacific. Opportunities for core businesses are anticipated at this time.