Plumbing Fixtures Market size is estimated to cross USD 170.69 Billion by the end of 2035, growing at a CAGR of 5.88% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of plumbing fixtures was over USD 114.42 Billion. The market growth can be propelled by the growing demand for plumbing fittings, followed by the consumers' willingness to spend on different types of construction activities.
The growth of the fixture industry is significantly influenced by a rapidly growing demand for smart and eco-friendly houses and offices. Construction projects based on modern architecture, which are specifically designed to address water efficiency problems, also contribute to this growth. 71% of respondents in a survey stated that reducing energy consumption is the most important reason for going green.
Growth Drivers;
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~ 5.88% |
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Base Year Market Size (2022) |
~ USD 114.42 Billion |
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Forecast Year Market Size (2035) |
~ USD 170.69 Billion |
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Regional Scope |
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End User (Residential, Non-Residential)
The residential segment in the plumbing fixtures market is expected to garner the highest growth of 56 % in the upcoming years. The increasing number of residential buildings is surging the requirement for plumbing fixtures in order to have luxury experiences. The new concepts and healthier technologies for homes in smart cities are forecasted to elevate the segment’s growth.
Product (Toilet, Faucets & Taps, Bathtub & Shower, Fixtures, Sink Fixtures)
Plumbing fixtures market from the bathtubs & shower segment is attributed to garner the highest growth with a share of 32% by the end of 2035. Bathtubs & showers are used by a large number of nonresidential buildings such as hotels, gymnasiums, or spa resorts in order to provide a better experience to their customers. In addition, the bathtubs & showers are placed in nearly every room rather than only one for the whole building. For instance, there are 17.8 million rooms in 187,000 hotels around the world.
Our in-depth analysis of the global market includes the following segments:
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Product |
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Application |
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End User |
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North-America Market Analysis-
The North America plumbing fixtures market is predicted to have the highest share of 31% during the forecasted period. The growth of the market in the region can be impelled by the increasing technologies, and research & development in the region for plumbing fixtures. In addition, the regulators for sanitation in countries such as the United States implement regulations through different reports that increase the demand for plumbing fixtures. For instance, the National Sanitation Foundation provides standardized sanitation in the United States.
APAC Market Statistics
Asia Pacific is forecast to continue its rapid growth, with a 5.4% compound annual growth rate. The growing number of new construction projects taking place across Asia has contributed to this growth. In addition, the rising trend of modification in washrooms, and kitchens among the middle-class population is further projected to boost the growth of the market in the region. Furthermore, the development of new houses is attached to a proper sanitation system in the region that is surging the demand for plumbing fixtures in the Asia Pacific region.
Author Credits: Mohd Shadab, Yashika Karodiwal
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