As per the analysis by Market Research Future Reports (MRFR), the global plumbing fixtures and fittings market is estimated to thrive at a CAGR of 5.88% during the forecast period. The research states that the global plumbing fixtures and fittings market is likely to witness a significant expansion during the forecast period. Initiatives such as refurbishing and renovation of old buildings have increased investments in the construction and infrastructure. Such activities augment the plumbing and fixtures and fittings market during the review period. Moreover, the growing concern towards the environment has resulted in the rising preference of eco-friendly plumbing solutions, which is an additional factor that drives the market. On the other hand, the fluctuating cost of raw material is likely to restrain the market growth during the review period.
With the outbreak of COVID-19, the dynamics of the market have changed drastically. Several regions have been affected due to the novel coronavirus. We will provide COVID-19 impact analysis with report. It is an in-depth analysis of global as well as regional markets affected by the novel coronavirus.
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The global plumbing fixtures and fittings market can be classified on the basis of application, product, material, and region.
On the basis of application, the global plumbing fixtures and fittings market can be classified into commercial and residential. The residential segment acquires the maximum market share due to the rapid urbanization and rising population.
On the basis of product, the global plumbing fixtures and fittings market can be classified into toilet fixtures & fittings, kitchen and sink fixtures & fittings, bathroom fixtures & fittings, and others. Among all, the bathroom fixtures & fittings are the leading segment.
On the basis of material, the global plumbing fixtures and fittings market can be classified into metal, vitreous china, and plastics. Among all, vitreous china leads the market due to its high durability, stain compliant surface, and sanitary.
On the basis of region, the global plumbing fixtures and fittings market can be classified into Asia-Pacific, North America, Europe, South America, and the Middle East & Africa.
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The geographical analysis of Asia-Pacific, North America, Europe, South America, and the Middle East & Africa has been conducted. As per the analysis by MRFR, the Asia-Pacific region is estimated to be the dominating region for plumbing fixtures and fittings market. The region consists of the fastest emerging economies like China, India, and Japan, which contributes significantly to the augmentation of the market. Besides this, the region is experiencing rapid urbanization and industrialization, which is boosting the market growth. Moreover, the increasing demand for renovation and refurbishment of old buildings has also propelled the market in the region. Among all, China plays a significant role in making the maximum contribution. The country has witnessed a sudden rise in industrialization and population, which has propelled the demand for housing.
On the other hand, the second position is attained by North America. North America acquires the second largest market share in the plumbing fixtures and fittings market. Due to the rising investment in the real estate sector, the region has experienced a considerable expansion in the construction industry. These factors collectively influence the plumbing fixtures and fittings market in the region.
The forefront players of the global plumbing fixtures and fittings market are Hindware Homes (India), Fortune Brands Home & Security, Inc. (the US), Geberit AG (Switzerland), LIXIL Group Corporation (Japan), TOTO LTD (Japan), Masco Corporation (US), Roca Sanitario, S.A. (Spain), Elkay Manufacturing Company (US), GWA Group Limited (Australia), Kohler Co. (US), and others.
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