Plumbing Fixtures Market to Exhibit a 6.0% CAGR by 2023 | Allied Market Research

Pune, Maharashtra, India, September 15 2020 (Wiredrelease) Allied Analytics –:The plumbing fixtures market in Asia-Pacific is expected to grow at the highest rate during the forecast period, owing to growth in urbanization, high infrastructure facilities, and improvement in the living standards of the consumers. Furthermore, continuous economic development in countries, such as India, China, and Australia, are expected to provide numerous growth opportunities to the market.

According to a new report published by Allied Market Research, titled, Plumbing Fixtures Market by type and End-user: Global Opportunity Analysis and Industry Forecast, 2017-2023, the plumbing fixtures market was valued at $ 75,042 million in 2016, and is projected to reach at $ 1,12,427 million by 2023, growing at a CAGR of 6.0% from 2017 to 2023. Asia-Pacific is expected to be the leading contributor to the global plumbing fixtures market, followed by Europe and North America.

In 2016, the bathroom fixtures segment, which includes showerheads, bathtubs, toilets, and others accounted for the maximum revenue share in the overall plumbing fixtures market as they are widely used in the residential sector owing to investment in smart homes and rising bathroom renovation facilities. The residential segment is expected to grow at the fastest CAGR of 6.3% in the plumbing fixtures market owing to the various investments in infrastructure facilities as well as growth in urbanization.

However, the fluctuating cost of raw materials and regulatory requirements regarding the showerheads and faucets are expected to hinder the plumbing fixtures market growth. Various advancements in plumbing technology and the introduction of water-efficient plumbing such as flow faucets & sensors and dual flush toilets which helps in conserving freshwater to a large extent is expected to provide numerous opportunities in the plumbing fixtures market.

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Key Findings of the Plumbing Fixtures Market
•    In 2016, the showerheads segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 5.3% during the forecast period.
•    The residential segment accounted for 67.7 % in the global plumbing fixtures market.
•    The U.S. is the major shareholder in the North America plumbing fixtures market, accounting for more than71 % share in 2016.

The key players profiled in the plumbing fixtures market include Kohler Co, Globe Union Industrial Corporation, Lixil Group Corporation, Toto Ltd., Masco Corporation, MAAX Holdings, Inc., Hansgrohe, Roca Sanitario, Bradley Corporation, and Elkay manufacturing Company. Market players have adopted various strategies such as product launch, collaboration & partnership, and acquisition to expand their foothold in the market.

About Allied Market Research:

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 domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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