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Plumbing Fixtures and Fittings Market Booms as Demand Rises: In-Depth Analysis of Market Segments, Key Drivers, and Competitive Insights Unveiled
Plumbing Fixtures and Fittings Market
As per the report, the plumbing fixtures and fittings market size has grown strongly in recent years. It will grow from $99.29 billion in 2023 to $107.62 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The plumbing fixtures and fittings market size is expected to see strong growth in the next few years. It will grow to $145.16 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
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Rising Global Focus On Sewerage Treatment Drives Growth In Plumbing Fixtures And Fittings Market
The increasing focus on sewerage treatment to meet the water demands globally is driving the market for plumbing fitting and fixtures products bought or rented by individuals or companies. Sewerage treatment stimulates the demand for advanced plumbing fixtures and fittings, as efficient and modern plumbing solutions are integral to supporting sustainable wastewater management and sanitation infrastructure. For instance, in May 2023, according to the United Nations Educational, Scientific and Cultural Organization, a France-based specialized agency of the United Nations, globally, 2 billion people, constituting 26% of the population, lack access to safe drinking water, while 3.6 billion individuals, representing 46%, do not have access to safely managed sanitation. Between two and three billion people experience water shortages for at least one month per year, with projections indicating that the urban population facing water scarcity will reach 1.7-2.4 billion people by 2050. Therefore, the increase in population and demand for growing scarcity of water and more urbanization are all leading factors impacting the increase in the plumbing fixtures and fittings market.
Technological Advancements Driving Innovation In Plumbing Fixtures And Fittings Market
Technological advancements are shaping the plumbing fixtures and fittings market. Major companies in the plumbing fixtures and fittings market are advancing towards adopting new technologies and research and developments in the plumbing fixtures and fittings market. For instance, in August 2021, Prince Pipes and fittings, an Indian PVC pipe manufacturer and multi polymer processor launches a prince one for CPVC piping systems with Corzan CPVC technology in association with the Lubrizol investors. The new CPVC pipes have heat, UV resistance, flame, and smoke pressure among other new technology.
The plumbing fixtures and fittings market covered in this report is segmented -
1) By Product: Bathtub, Sinks, Toilets, Showers, Taps, Drains
2) By Distribution: Online, Offline
3) By Application: New Construction, Repair And Remodel
4) By Material Type: Vitreous China, Metal, Plastic
5) By End-User: Residential, Commercial, Industrial
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Major companies operating in the plumbing fixtures and fittings market report are Masco Corporation, Kohler Co, TOTO Ltd., LIXIL Group, Geberit, Jacuzzi, Grundfos, Roca Sanitario, Moen, American Standard, Bemis Company, Moen Incorporated, Elkay Manufacturing Company, Mansfield Plumbing, Oatey Company, Liberty Pumps, Little Giant, Newport Brass, Nuvo H2O, MAAX Bat, Brizo Faucets, Danze, Delta, DreamLine Shower, GROHE, InSinkErator, Jensen Medicine Cabinets, Peerless, Pioneer, Price Pfister, Sloan, Speakman, Symmons, Viega, Waste King, ADS, ALFI, Alsons, Aquatic Bathware, Arrowhead Brass
Contents of the report:
1. Executive Summary
2. Plumbing Fixtures and Fittings Market Report Structure
3. Plumbing Fixtures and Fittings Market Trends And Strategies
4. Plumbing Fixtures and Fittings Market - Macro Economic Scenario
5. Plumbing Fixtures and Fittings Market Size And Growth
…..
27. Plumbing Fixtures and Fittings Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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