Global Plumbing Fittings and Fixtures Market to Reach $106.4 Billion by 2026

Plumbing fittings and fixtures are crucial components of a plumbing system installed in buildings, either commercial or residential, for efficient distribution of water into the building for drinking, washing, and heating and for removing waterborne wastes from the building. Demand in the market is expected to be driven by growing number of home purchases, income growth, and remodeling of homes. Fast paced urbanization creates significant demand for housing units and construction of the same, thus favoring growth in the market. Growing demand for expensive, high-end plumbing fixtures from luxury housing segment and star hotels, will also add to the revenue for this segment. Demand for plumbing fixtures will be especially driven by the expansion of water treatment infrastructures in developing countries.

Amid the COVID-19 crisis, the global market for Plumbing Fittings and Fixtures estimated at US$81.8 Billion in the year 2020, is projected to reach a revised size of US$106.4 Billion by 2026, growing at a CAGR of 4.4% over the analysis period. Bathroom Fixtures & Fittings, one of the segments analyzed in the report, is projected to record a 4.5% CAGR and reach US$53.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Kitchen & Sink Fixtures & Fittings segment is readjusted to a revised 5.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $17.8 Billion in 2021, While China is Forecast to Reach $28.8 Billion by 2026

The Plumbing Fittings and Fixtures market in the U.S. is estimated at US$17.8 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$28.8 Billion by the year 2026 trailing a CAGR of 5.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR. Higher emphasis on personal hygiene and cleanliness, and new building projects along with renovation programs contribute significantly to plumbing fittings & fixtures demand in the US. Rapid pace of industrialization, sustained increase in manufacturing/industrial activity, economic growth, improving living standards, and increase in discretionary spends, along with rising construction activity spur growth in the Asia-Pacific region.

Toilet & Sink Fixtures & Fittings Segment to Reach $17.3 Billion by 2026

Sink fixtures are products that are mainly focused on the sink area in the kitchen and lavatory. These fittings include deck faucets, single-lever controls, and other sink fittings. Toilet plumbing fixtures include lavatory fixtures such as urinals, flush tanks, and water closet bowls. In the global Toilet & Sink Fixtures & Fittings segment, USA, Canada, Japan, China and Europe will drive the 3.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$10.5 Billion in the year 2020 will reach a projected size of US$13.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.8 Billion by the year 2026, while Latin America will expand at a 4.2% CAGR through the analysis period.