Dublin, July 3, 2020 (GLOBE NEWSWIRE) – The report “Plumbing Fixtures – Global Market Trajectory & Analytics” has been added ResearchAndMarkets.com Offer.
Amid the COVID-19 crisis and looming economic recession, the global plumbing fixture market is expected to grow by $ 25.3 billion over the period under review, reflecting a revised annual average growth rate (CAGR) of 4.3%. Bathroom Fixtures & Fittings, one of the segments analyzed and sized in this study, is expected to grow by over 5.3% and reach a market size of 41.4 billion US dollars by the end of the analysis period.
The global analysis and forecast periods covered in the report are 2020-2027 (current and future analysis) and 2012-2019 (historical review). Research estimates are presented for 2020, while research projections cover the period 2021-2027.
The coronavirus pandemic, an unusual period in history, has sparked a series of unprecedented events that affect every industry. The bathroom faucet market is being reset to a new normal that will be continuously redefined and redesigned in a post-COVID-19 era. Keeping track of trends and accurate analysis is more important than ever in order to deal with uncertainties, change and continuously adapt to new and evolving market conditions.
As part of the emerging geographic scenario, the United States is projected to adjust to an annual growth rate of 2.7%. Within Europe, Germany will increase the size of the region by over 634 million US dollars over the next 7 to 8 years. In addition, projected demand in the region, valued at over $ 622.7 million, will come from other European markets. In Japan, the bathroom fittings segment will reach a market size of 1.7 billion US dollars by the end of the analysis period. Blamed for the pandemic, China faces significant political and economic challenges. Amid growing pressures for decoupling and economic distancing, changing relationships between China and the rest of the world will affect competition and opportunities in the plumbing fixture market.
With that in mind, and given changing geopolitical, business, and consumer sentiment, the world’s second largest economy will grow 8.2% over the next few years, adding around $ 8.1 billion in addressable market opportunities. Continuous monitoring for signs of a possible new world order following the COVID-19 crisis is a must for emerging businesses and their smart leaders looking to thrive in the changing plumbing fixture market landscape. All research viewpoints presented are based on validated engagements of influencers in the market, whose opinions supersede all other research methods.
The competitors identified in this market include:
- American standard brands
- Asahi Eito Co. Ltd.
- Cera Sanitaryware Ltd.
- Elkay Manufacturing Company
- Geberit AG
- Grohe AG
- Ideal Standard International
- Jacuzzi Inc.
- Jaquar and Company Pvt. GmbH.
- Kohler Co.,
- LIXIL Corporation
- MAAX Bath Inc.
- Masco Corporation
- Moen Inc.
- Roca bathroom products Pvt. GmbH.
- Roca Sanitario SA
- Spectrum Brands Inc.
- Toto Ltd.
- Villeroy & Boch
Main topics covered:
I. INTRODUCTION, METHODOLOGY AND REPORTING AREA
1. MARKET OVERVIEW
- Sanitary fittings – a prelude
- Current market activity
- Growth driver for sanitary fittings
- Asia Pacific – The dominant consumer
- Asia Pacific ready to remain the mainstay of sales
- China plays a vital role in the domination of the Asia-Pacific region
- The developed regions continue to offer robust opportunities despite having reached maturity
- Effects of the recent economic upheaval on the sanitary ware market
- The prevailing stable economic scenario supports sales growth
- Steady growth forecast for the next few years
- Competitive scenario
- Leading company in the world sanitary fittings market
- Cooperation with plumbing companies is gaining in strategic importance
- M&A activity
- Selected M&A Deals in the Global Sanitary Faucets Market (2014-2018)
- Distribution – main focus area for providers
- Domestic manufacturers retain their dominance in sales and delivery
- Online marketplace – the new sales vertical
- Market shares of global competitors
- Market share scenario for sanitary fittings worldwide (in%): 2018 and 2029
- Effects of Covid-19 and an impending global recession
2. FOCUS ON SELECTED PLAYERS
3. MARKET TRENDS & DRIVERS
- The upward trend in the construction sector is a good sign of market growth
- The forecasts for construction spending remain firm in the short to medium term
- Residential sector holds bigger promises
- CRE investments are picking up pace
- Favorable demographic scenario increases the market prospects
- Population growth and rapid urbanization
- Expansion of the middle class population
- Building renovations and conversions – an important source of revenue
- Growing focus on water conservation is driving demand
- Sanitary fittings – the largest and fastest growing product segment
- Sanitary fittings segment, driven by standard fittings
- Product innovations and improvements improve the attractiveness and image
- Shower head with wireless technology for entertainment
- LED lights for toilet fittings
- Environmentally friendly products are gaining traction
- Touch-free products attract attention
- Plastics play a bigger role in the plumbing industry
- Products with traditional materials are back in vogue
- Creative faucets attract attention
- Square lights and shower heads are in demand
- Quality assessment of aesthetics for sanitary products
- Premium products in demand
- Expensive high-end products complement sanitary fittings – a typical example
4. PERSPECTIVE OF THE GLOBAL MARKET
III. MARKET ANALYSIS
Profiled companies in total: 249
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