Press release
Plumbing Parts Market Projected to Hit USD 84.78 Billion by 2029, Unveiling Over $23 Billion Opportunities in the Next 6 Years - Exclusive Research Report by Arizton
Plumbing Parts Market Research Report by Arizton
According to the latest research report, the plumbing parts market 2024-2029 [https://www.arizton.com/market-reports/plumbing-parts-market] by Arizton Advisory & Intelligence, the market will grow at a CAGR of 5.42% during 2023-2029.
Curious to Learn More About the Market: [https://www.arizton.com/market-reports/plumbing-parts-market]
Report Summary
Market Size (2029): USD 84.78 Billion
Market Size (2023): USD 61.75 Billion
CAGR (2023-2029): 5.42%
Historic Year: 2019-2022
Base Year: 2023
Forecast Year: 2024-2029
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The plumbing industry is witnessing a significant surge in demand, propelled by various key factors. Renovation projects, fueled by the desire to modernize properties, particularly bathrooms and kitchens, are driving up the need for plumbing parts. Technological innovations like sensor faucets also contribute, requiring specialized components and sensors. Sustainability is another driver, with eco-friendly plumbing products necessitating specific parts. Additionally, the construction of luxury hotels and government investments in infrastructure projects further stimulate the market for plumbing parts, emphasizing the industry's robust growth trajectory.
Regional Insights
North America accounted for 18.27% of the global plumbing parts market 2023. This growth is attributed to the increasing demand for water-efficient and sustainable plumbing products and the expanding construction industry in the US and Canada.
The market growth in Europe is attributed to positive economic growth, an increase in housing units, and a rise in renovation projects. In addition, the growing tourism in countries such as Italy, Germany, and others further fuels the demand for plumbing parts in the region. APAC is witnessing rapid growth in the plumbing parts market due to its large population, rapid urbanization, and industrialization. The growing construction industry is also contributing to this growth. Countries like China, Japan, and South Korea are emerging as key markets, with consumers actively seeking innovative products. Latin America experiences a surge in demand for plumbing parts, driven by a burgeoning residential building construction sector, tourism development projects, an increased focus on renovation and maintenance, and evolving consumer lifestyles. This dynamic market presents significant opportunities for industry players. The demand for plumbing parts in the Middle East and Africa has been rising significantly due to increased investments in the hospitality sector, government spending on infrastructure projects, the oil and gas industry, and the growing disposable income of the region's inhabitants.
Key Merger & Acquisition and Technological Advances in the Plumbing Parts Market
* McWane acquired Tri-Seal Valve to serve a wide range of industrial fluid control applications, ultimately seeking to increase its profitability in the market.
* Morris Group launched a line of stainless-steel plumbing fixtures featuring cutting-edge innovations, such as touchless operation and an antimicrobial additive that effectively eliminates germs.
* NUPI INDUSTRIE ITALIANE S.p.A. partnered with Borealis to advance sustainability in pipe production by utilizing Bornewables polypropylene, thereby reducing its carbon footprint.
* In 2023, NUPI INDUSTRIE ITALIANE S.p.A. introduced 63mm electrofusion and spigot tees with incorporated adaptors, reducing assembly height and the need for multiple welds and improving efficiency.
* In September 2023, Reliance Worldwide Corporation announced a partnership with Galvin Engineering, aiming to create Lead Safe CliniMix Healthcare Thermostatic Mixing Valves (TMV) for the Australian plumbing industry.
Recent Developments inthe Global Plumbing Parts Market
* Uponor:In 2023, the company announced the production OF PEX pipe based on 100% chemically recycled raw material. Through this, the company diversifies its product portfolio and increases the volume of recycled materials in the market.
* Reliance Worldwide Corporation:In September 2023, the company announced a partnership with Galvin Engineering, aiming to create Lead Safe CliniMix Healthcare Thermostatic Mixing Valves (TMV) for the Australian plumbing industry. Through this collaboration, the company seeks to enhance its presence in the Australian market and expand its local manufacturing operations within the region.
* NUPI INDUSTRIE ITALIANE:In 2023, the company introduced 63mm electrofusion and spigot tees with incorporated adaptors, reducing assembly height and the need for multiple welds, improving efficiency. With this, the company aims to gain a competitive advantage in the plumbing parts market and increase its sales.
Post-Purchase Benefit
* 1hr of free analyst discussion
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Key Company Profiles
* Central States Industrial
* Finolex Industries Limited
* McWane
* Morris Group
* Mueller Industries
* NUPI INDUSTRIE ITALIANE S.p.A.
* Reliance Worldwide Corporation
* Turnkey Industrial Pipe & Supply Inc
* Uponor
* Prince Pipes and Fittings
* Masco Corporation
* Charlotte Pipe and Foundry
* TOTO
* CERA
* Hansgrohe Group
* Jaquar
* Kohler
* Ideal Standard
* Westlake Pipe & Fittings
* Elkay Manufacturing Company
* Guangdong Huayi Plumbing Fittings
* Jacuzzi
* Globe Union Industrial
* Roca Sanitario
* Proflo
* Geberit AG
* Moen
* Novanative
* Multipipe
* Flair-It
* Giacomini
* VNE Corporation
* Zhejiang Valogin Technology
* Viega
* Caleffi
* HotTubOutpost
* Tech Tubes & Fittings
* Tigre USA
Market Segmentation
Product
* Pipes & Tubes
* Valves
* Fittings
* Manifolds
End-users
* Residential
* Non- Residential
Applications
* Faucets
* Sinks, Toilets & Other
* Showerhead
* Bathtubs
Geography
APAC
* China
* India
* Japan
* Indonesia
* South Korea
* Australia
Europe
* Germany
* France
* The UK
* Italy
* Spain
* Russia
* Poland
North America
* The US
* Canada
Middle East & Africa
* Saudi Arabia
* The UAE
* Turkey
* South Africa
Latin America
* Brazil
* Mexico
* The Rest of Latin America
Key Questions Answered in the Report:
How big is the plumbing parts market?
What is the growth rate of the global plumbing parts market?
Which region dominates the global plumbing parts market share?
What are the significant trends in the plumbing parts market?
Who are the key players in the global plumbing parts market?
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About US:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
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Contact Person: Jessica
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Website: https://www.arizton.com/market-reports/plumbing-parts-market
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