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Plumbing Fixtures Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global plumbing fixtures products market was valued at USD 76.3 billion in 2022 and is projected to expand at a CAGR of 7.2% from 2023 to 2030. Increasing residential and commercial construction activities have been driving the demand for plumbing fixtures products. Furthermore, the incorporation of innovative technology, such as smart fixtures, is expected to boost the market growth. For instance, in February 2022, Moen Incorporated launched a U by Moen Smart Shower, a smart shower system with voice-control capabilities. The system allows users to control the shower from anywhere with their voice, phone, or the U by Moen app.
The rising awareness regarding water conservation and the increasing focus of governments on water-saving plumbing fixtures are expected to drive the market. For instance, in 2021, the U.S. Environmental Protection Agency (EPA) WaterSense program exceeded the goal of 1.1 billion gallons in water saved due to the program’s efforts to promote water-efficient products. The program aims to protect the future of the nation’s water supply by promoting and enhancing the market for water-efficient products and services.
Moreover, increasing renovation and remodeling activities, such as bathroom and kitchen renovation, are expected to drive the market. Additionally, the rising adoption of green building materials and products is expected to further support the market growth.
The increasing demand for self-cleaning and low-maintenance fixtures is driving the market for plumbing fixtures products. For instance, in August 2021, American Standard launched the CleanCurve rimless toilets, which offers an innovative bowl design and a curved rimless shape that eliminates hard-to-reach nooks and crannies for easy cleaning. The product also offers the benefit of saving water with its 1.28 gallons per flush. Additionally, the increasing trend of using decorative plumbing products is expected to drive the market.
Furthermore, the rising demand for sanitary products, such as flush valves, bidets, and urinals, is expected to drive the market. The growing consumer preference for luxurious and high-end fixtures is expected to further support the market growth. For instance, in November 2021, Grohe launched a new range of bathroom fixtures with features such as integrated LED lighting and digital showers. The company launched the new range with a focus on comfort and luxury, while also offering sustainability and efficiency.
Product Insights
The faucets and taps segment held the largest share of the plumbing fixtures market in 2020 and is expected to continue to dominate the market over the forecast period. Faucets and taps are the most common plumbing fixtures used in households and commercial buildings, primarily for controlling the flow of water. Moreover, the rising demand for smart faucets and taps that can be operated using wireless technology is expected to drive the demand for plumbing fixtures during the forecast period. According to an article published by The Motley Fool, in May 2021, Kohler Co. launched Numi 2.0, the world’s first AI-powered toilet system.
The showers and bathtubs segment is expected to register the fastest CAGR of 6.2% over the forecast period. Increasing demand for luxury bathrooms across the world is driving the demand for showers and bathtubs. Furthermore, the growing availability of showers and bathtubs in various sizes, shapes, designs, and colors is boosting the demand for these fixtures. According to an article published by Houzz, in April 2021, showers are becoming a popular addition to bathrooms, and 66% of homeowners have showers as a bathroom feature.
Distribution Channel Insights
The specialty stores segment captured the major share of over 34.2% in 2022. The growth of this segment is primarily driven by the rising consumer preference for specialty stores for plumbing fixtures and fittings. According to a study by Houzz in 2020, nearly 60% of consumers prefer to visit specialty stores for plumbing fixtures and fittings as they offer more variety and options. These stores provide customers with the chance to get a hands-on experience with the product, enabling them to make informed decisions.
The online segment is anticipated to expand at the highest CAGR of 11.1% over the forecast period. The growth of this segment is primarily attributed to the increasing usage of online platforms among consumers for purchasing plumbing fixtures and fittings. E-commerce development in the plumbing fixtures and fittings industry has been rapid, with companies launching online websites and shopping apps to increase their brand visibility among consumers. For instance, in May 2021, PipingMart launched its website to provide customers with quick access to plumbing fixtures and fittings. The website offers a wide range of products from different vendors and provides customers with detailed product descriptions and product comparisons.
Type Insights
The residential segment accounted for the largest revenue share of 75.9% in the year 2022. The growing demand for residential plumbing fixtures products in developing countries such as India, China, and Brazil is the primary factor driving the market. This is due to the increasing construction activities and rising number of households in these countries. Moreover, the emergence of innovative and smart plumbing fixtures products such as automatic sensing faucets and water leak detection systems is further fueling market growth.
The commercial segment is anticipated to expand at the highest CAGR of 8.2% over the forecast period. The growing demand for energy-efficient and water-efficient plumbing fixtures products in commercial establishments is boosting the market growth. Moreover, increasing government initiatives to promote the use of eco-friendly plumbing fixtures in commercial buildings is further driving the market. For instance, in 2019, the Government of India launched the Water Conservation Building Code to regulate the consumption of water in commercial buildings.
Regional Insights
Europe is expected to dominate the market during the forecast period. This is due to the presence of major companies such as Lixil, Kohler, and Hansgrohe in the region. The market in the region is likely to witness steady growth due to the rising demand for energy-efficient products. For instance, in November 2020, Hansgrohe launched the Metropol Classic collection, which are designed for the classic style bathroom.
The U.S. is expected to be the second-largest market in terms of revenue share. Increasing focus on smart home automation is expected to drive the growth of the plumbing fixtures market in the country. For instance, in February 2021, Delta Faucet launched the VoiceIQ technology, which allows users to control their shower and other plumbing fixtures using voice commands.
Financial Projections
In this section of the plumbing fixtures products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for the plumbing fixtures products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a plumbing fixtures products business come from sales of products and services. Here you will find a list with a description of each of them and other possible sources of profit such as discounts, promotions, and referral programs.
Projecting Expenses
In this section, all the regular expenses related to keeping the plumbing fixtures products business running will be described. The list of operating expenses includes inventory, labor, materials and supplies, marketing and advertising, rent, shipping, and other costs.
Key companies & market share insights
Some of the key companies operating in the plumbing fixtures market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Moen Inc. launched the new series of bathroom fixtures, which includes a shower head, faucets, and flush valves.
– In August 2022, Kohler Co. launched the new line of kitchen fixtures, which includes a range of kitchen faucets.
– In October 2022, Delta Faucet Company launched a new line of bathroom fixtures, which includes a range of bath and shower fixtures.
Some of the prominent players in the plumbing fixtures market include:
– Kohler Co.
– Moen Inc.
– Delta Faucet Company
– American Standard Brands
– Masco Corporation
– LIXIL Group Corporation
– Hansgrohe
– Toto Ltd.
– Roca Sanitario S.A.
– Gerber Plumbing Fixtures LLC
Global Plumbing Fixtures Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global plumbing fixtures products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Bathtubs
– Showers
– Toilets
– Sinks
– Faucets
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Mass
– Premium
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Outlook for Plumbing Fixtures?
[A]: The global plumbing fixtures market is expected to experience considerable growth in the coming years due to the increasing demand for plumbing fixtures in residential and commercial building applications. The growing awareness of water conservation among consumers is expected to drive the demand for plumbing fixtures. Increasing industrialization and rapid urbanization are also likely to contribute to the growth of the plumbing fixtures market.
[Q]: Who are the Key Players in the Plumbing Fixtures Market?
[A]: Key players in the global plumbing fixtures market are Kohler Co., American Standard Companies Inc., TOTO Ltd., Fortune Brands Home & Security, Inc., Lixil Group Corporation, Masco Corporation, Roca Sanitario, S.A., GROHE AG, JAG PLUMBING PRODUCTS, and Jaquar Group.
[Q]: What are the Factors Driving the Plumbing Fixtures Market?
[A]: Factors such as the growing demand for water conservation, increasing industrialization and urbanization, and the rising number of construction projects are driving the growth of the global plumbing fixtures market. The increasing demand for energy-efficient plumbing fixtures is also expected to fuel market growth.
[Q]: What are the Challenges for Plumbing Fixtures?
[A]: Despite the tremendous growth potential of the plumbing fixtures market, the availability of counterfeit products and the high cost of installation and maintenance of plumbing fixtures are some of the factors that are hindering the growth of the market.
[Q]: What is the Potential for Product Innovation?
[A]: Product innovation in the plumbing fixtures market is expected to lead to the introduction of advanced products with improved features, such as energy efficiency and water conservation. Manufacturers are focusing on introducing smart plumbing fixtures with automated controls to improve user convenience and reduce water wastage.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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