Plumbing Fixtures Market worth $139.4 billion by 2027

The plumbing fixtures & fittings market is projected to reach USD 139.4 Billion by 2027. The plumbing fixtures & fittings market size is estimated to grow from USD 86.5 billion in 2018 to USD 139.4 billion by 2027. Factors such as increasing demand in Asia-Pacific due to rapid urbanization, building renovations due to disasters and upgradations,  rising construction activities in emerging economies, and large-scale investment in industrial and infrastructure sectors are some of the drivers for the growth of the plumbing fixtures & fittings market.  
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Residential buildings to gain maximum traction during the forecast period
The residential buildings segment dominated the market in 2018 and is projected to be the fastest-growing end-user industry in the next five years, as a result of the rising urbanization and changing lifestyle inclined toward new designs and better technology in homes. The residential market is projected to grow at the highest rate due to the rise in new and existing housing completions. Furthermore, the non-residential segment is projected to be the second fastest-growing end-use industry due to the rising demand from commercial buildings such as hotels, gyms, and spa resorts.
Plastics as a raw material to play a key role in the plumbing fixtures & fittings market
The report defines and segments the plumbing fixtures & fittings market on the basis of raw material into vitreous china, metal, and plastics. The vitreous china segment is projected to contribute the largest market share as it is the most economical material for domestic fixtures such as toilet bowls, urinals, and washbasins. Plastic plumbing fixtures & fittings, made from a wide range of polymers such as fiberglass, cast polymer, and acrylic, is projected to grow at the highest rate from 2018 to 2027.
Asia-Pacific is projected to have the largest market share and dominate the plumbing fixtures & fittings market from 2016 to 2021. Asia-Pacific offers potential growth opportunities; developing countries such as China and India are projected to be emerging markets, making the Asia-Pacific region the fastest-growing market for plumbing fixtures & fittings. The growth of the plumbing fixtures & fittings market in this region is driven by factors such as the growth in the construction of the residential and non-residential buildings. Also, the growing population and economic development are other factors driving the growth of this market.
Factors such as fluctuations in raw material prices act as a restraint for the growth of the market. The global market for plumbing fixtures & fittings is dominated by players such as Geberit AG (Switzerland), Kohler Co. (U.S.), Jacuzzi Inc. (U.S.), Masco Corporation (U.S.), LIXIL Group Corporation (Japan), Fortune Brands Home & Security, Inc. (U.S.), TOTO Ltd. (Japan), and Roca Sanitario, S.A. (Spain). Other players in the market are Elkay Manufacturing Company (U.S.) and MAAX Bath Inc. (Canada). These players adopted various strategies such as new product developments, acquisitions, agreements, partnerships, and expansions to cater to the needs of the plumbing fixtures & fittings market.

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