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Plumbing Components Market Major Manufacturers, Trends, Demand, Analysis and Forecasts to 2027
The Plumbing Components Market report published by Allied Market Research highlights significant growth opportunities within the industry. In 2019, the global ๐ฝ๐น๐๐บ๐ฏ๐ถ๐ป๐ด ๐ฐ๐ผ๐บ๐ฝ๐ผ๐ป๐ฒ๐ป๐๐ ๐บ๐ฎ๐ฟ๐ธ๐ฒ๐ was valued at $58.5 billion and is projected to reach $78.2 billion by 2027, growing at a CAGR of 5.6% from 2020 to 2027. Asia-Pacific dominated the market, contributing approximately 58.7% of the global revenue in 2019, followed by North America and Europe.
๐ซ๐๐๐๐๐๐๐ ๐ท๐ซ๐ญ ๐บ๐๐๐๐๐ ๐ช๐๐๐: https://www.alliedmarketresearch.com/request-sample/A06577
๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ข๐๐ฒ๐ฟ๐๐ถ๐ฒ๐
Plumbing components encompass a wide range of products, including fittings, manifolds, pipes, and valves, which are integral to completing plumbing systems when paired with sanitary equipment. These components are critical for residential and non-residential applications:
Residential Applications: Plumbing systems in bathrooms, kitchens, and toilets of single-family homes, flats, townships, and private buildings.
Non-Residential Applications: Systems installed in commercial properties such as hotels, malls, offices, and public buildings.
๐๐ฟ๐ผ๐๐๐ต ๐๐ฟ๐ถ๐๐ฒ๐ฟ๐
The growth of the plumbing components market is fueled by several factors:
Renovation and Remodeling: A significant portion of the market growth is attributed to the renovation of outdated plumbing systems in residential and non-residential buildings. This includes the replacement of damaged or obsolete components and modernizing spaces during ownership transitions.
New Construction Projects: Expansion of infrastructure and urbanization has led to an increase in new residential and commercial constructions, driving demand for plumbing components.
Technological Advancements: The introduction of advanced sanitary equipment and eco-friendly plumbing solutions has spurred the replacement of older systems.
Market Expansion: Manufacturers are broadening their reach through strategies such as new product launches, acquisitions, and geographic expansion to tap into emerging markets.
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The COVID-19 pandemic significantly impacted the plumbing components market in 2020. Lockdowns and restrictions delayed construction and renovation projects globally, affecting demand. Additionally, disruptions in manufacturing and logistics further hindered market growth. However, as economies recover, the market is expected to regain momentum.
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The plumbing components market is analyzed across key regions:
Asia-Pacific: Dominates the market due to rapid urbanization, infrastructure development, and the growing residential sector. Countries like China, India, and South Korea are key contributors.
North America: Witnessing steady growth due to rising renovations and adoption of advanced plumbing systems.
Europe: Driven by stringent regulations on water efficiency and the adoption of sustainable plumbing solutions.
LAMEA (Latin America, Middle East, and Africa): Emerging markets are showing gradual growth due to infrastructure development and increasing urbanization.
Key Market Segments
By Product:
Pipes: Accounted for the highest revenue in 2019, owing to their essential role in plumbing systems.
Other products include fittings, valves, and manifolds.
By End User:
Residential Segment: Dominated the market in 2019, driven by home renovations and new housing developments.
Non-Residential Segment: Includes commercial spaces such as malls, offices, and public buildings.
By Application:
Others Segment: Led the market in 2019, encompassing diverse applications in custom and specialized plumbing systems.
๐ญ๐๐๐ ๐น๐๐๐๐๐ ๐พ๐๐๐ ๐ป๐ถ๐ช:
https://www.alliedmarketresearch.com/plumbing-components-market-A06577
๐๐ฒ๐ ๐ฃ๐น๐ฎ๐๐ฒ๐ฟ๐
Major players in the plumbing components market include:
Aalberts N.V. (Lasco Fittings)
Central States Industrial
Finolex Industries Ltd.
McWane, Inc.
Morris Group (Acorn)
Mueller Industries
Nupi Industrie Italiane S.p.A.
Reliance Worldwide Corporation Ltd.
Turnkey Industrial Pipe & Supply Inc.
Uponor Corporation
These companies employ strategies such as product innovation, partnerships, and acquisitions to strengthen their market position.
๐๐๐๐๐ฟ๐ฒ ๐ข๐๐๐น๐ผ๐ผ๐ธ
The global plumbing components market is poised for growth, driven by infrastructure development, increasing consumer preference for sustainable products, and rising renovations. Innovations in eco-friendly and durable materials are expected to open new opportunities in the coming years. Despite the temporary setback caused by COVID-19, the market is set to recover and thrive, catering to the evolving needs of residential and commercial sectors.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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