Plumbing Fixtures And Fittings Market Size and Outlook 2023

The global plumbing fixtures and fittings market size was valued at USD 8.96 billion in 2022 and is poised to grow at a significant CAGR of 6.9% during the forecast period 2023-29. Additionally, the global plumbing fixtures and fittings market is the increasing adoption of smart and connected plumbing solutions. These solutions incorporate IoT (Internet of Things) technology to enable remote monitoring, control, and optimization of plumbing systems. Smart faucets, showers, and toilets with features like touchless operation, water temperature control, and water flow management are gaining popularity. This trend is driven by the growing demand for convenience, water efficiency, and improved hygiene in residential, commercial, and industrial settings.

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The global plumbing fixtures and fittings market segmentation:
1) By Type: Bath and Shower Fittings, Lavatory Fittings, Kitchen and Other Sink Fittings, Lavatory Fixtures
2) By Material: Vitreous China, Metal, Plastic
3) By Application: Residential Building, Commercial Building, Industrial Building

Residential Building Segment Dominate the Plumbing Fixtures and Fittings Market
The residential building segment is anticipated to hold the largest market share in the Plumbing Fixtures and Fittings Market. This is driven by the increasing demand for plumbing fixtures and fittings in residential construction projects, including new residential buildings and housing renovations. The growth of the residential building segment can be attributed to factors such as population growth, urbanization, and the need for modern and efficient plumbing systems in homes. For instance, the U.S. Census Bureau reported that in 2020, there were approximately 1.52 million housing units authorized for construction in the United States. This indicates a significant demand for plumbing fixtures and fittings in the residential sector, including products such as faucets, toilets, sinks, showers, and pipes. Additionally, the rising focus on water conservation and sustainability in residential buildings has led to the adoption of water-efficient fixtures and fittings, further driving the demand in this segment.

North America Leads the Global Plumbing Fixtures and Fittings Market:
North America, the Plumbing fixtures and fittings market holds a market share of XX% in 2022 and the market is expected to grow at a significant CAGR during the forecast period. The growth of the plumbing fixtures & fittings market in this region is driven by factors such as the growth in the construction of residential and non-residential buildings. Also, the growing population and economic development are other factors driving the growth of this market.

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Key players' profiles in the Plumbing Fixtures and Fittings Market report are Geberit AG (Switzerland), Fortune Brands Home & Security, Inc., LIXIL Group Corporation, Masco Corporation, TOTO LTD, Roca Sanitario S.A., GWA Group Limited (Australia), Elkay Manufacturing Company, Kohler Co. (U.S.), Hindware Homes

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