Plumbing Fixtures Market Competitive Analysis to 2023 : Kohler Co, Globe Union Industrial Corporation, Lixil Group Corporation, Toto
The plumbing fixtures market was valued at $ 75,042 million in 2016 and is projected to reach at $ 1,12,427 million by 2023, growing at a CAGR of 6.0% from 2017 to 2023. Asia-Pacific is expected to be the leading contributor to the global plumbing fixtures market, followed by Europe and North America.
Asia-Pacific accounted for the major share of the global plumbing fixtures market in 2016 owing to the high growth of construction facilities in India and China. Asia-Pacific is estimated to grow at the highest rate followed by Europe in the global plumbing fixtures market due to high disposable income of consumers and demand for luxurious bathroom fixtures.
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The fluctuating cost of raw materials and regulatory requirements regarding the showerheads and faucets are expected to hinder the plumbing fixtures market growth. Various advancements in plumbing technology and introduction of water efficient plumbing such as flow faucets & sensors and dual flush toilets which helps in conserving fresh water to a large extent is expected to provide numerous opportunities in the plumbing fixtures market.
In 2016, the bathroom fixtures segment, which includes showerheads, bathtubs, toilets, and others accounted for the maximum revenue share in the overall plumbing fixtures market as they are widely used in the residential sector owing to investment in smart homes and rising bathroom renovation facilities. Residential segment is expected to grow at a fastest CAGR of 6.3% in the plumbing fixtures market owing to the various investments in infrastructure facilities as well as growth in urbanization.
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Key Findings of the Plumbing Fixtures Market
o In 2016, the showerheads segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 5.3% during the forecast period.
o The residential segment accounted for 67.7 % in the global plumbing fixtures market.
o The U.S. is the major shareholder in the North America plumbing fixtures market, accounting for more than71 % share in 2016.
The key players profiled in the plumbing fixtures market include Kohler Co, Globe Union Industrial Corporation, Lixil Group Corporation, Toto Ltd., Masco Corporation, MAAX Holdings, Inc., Hansgrohe, Roca Sanitario, Bradley Corporation, and Elkay manufacturing Company.
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