Global Luxury Plumbing Fixtures Market is expected to reach $24,646 million by 2022, registering a CAGR of 4.9% during the forecast period.
Luxury plumbing fixtures are installed within a bathroom, washroom or kitchen keeping in mind the growing focus of energy and water conservation. For instance, German government have introduced the concept of smart bathroom, including smart faucets, dual-flush toilets and bathtubs integrated with audio/video system to save water and reduce high energy costs per year.
|luxury plumbing fixtures market Report Scope and Segmentation|
|UNIT||Value (USD Million/Billion)|
|BY REGION||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
Some of the factors that drive the global luxury plumbing fixtures industry include growth in urbanization, improvement in economic conditions and growth in disposable income, changing lifestyle and behavior of consumers and adoption of water-efficient fixtures. Additionally, untapped Asia-Pacific and African markets will foster the global luxury plumbing fixtures market. However, high cost of raw materials is likely to hamper the global luxury plumbing fixtures market growth.
The rising concerns about reducing water consumption is anticipated to encourage home and business owners to replace older and inefficient fixtures with newer models that use less water. Growing focus on water scarcity issues and drought in some areas of North America, particularly California has resulted in North American consumers to grow as ecologically minded consumers and replace such products with low-flow showerheads, urinals, faucets and others. The growing focus would result in increased global luxury plumbing fixtures market size by 2022.
The global luxury plumbing fixtures market is segmented on the basis of type, end user and geography. Based on fixture type, the market is broadly divided into bathroom fixtures and kitchen fixtures. The bathroom fixtures include bathtubs, showerheads, toilets and others while kitchen fixtures include sinks and faucets. However, by end user, the luxury plumbing fixtures industry is divided into residential and non-residential sector. The market is analyzed across four regions-North America, Europe, Asia-Pacific, and LAMEA. Technological developments and innovative product launches are expected to create growth opportunities in the Asia-Pacific market. In addition, rapid development of commercial hospitality sector in the emerging areas of Asia-Pacific offers incredible development potential outcomes for market players. Thus, the region is anticipated to grow at the fastest rate by 2022.
The report includes comprehensive analysis of the key players in the luxury plumbing fixtures market such as Bradley Corporation, GROHE, Little Giant, Kohler, Moen, Delta, Toto Ltd., Gerber, American Standard, and Sterling Faucet Company.
The other prominent players in the market include Culnat, Natphil Inc., Water Matrix, Aquabrass, Dahl Brothers (Canada) Ltd, Fiberez Bathware, The Noble Co., Matco-Norca, Rada Mechanical Products Ltd, and Falcon Waterfree Technologies.
Bathroom fixtures, particularly showerheads generated a significant revenue in 2015. The growth of showerheads market is largely dependent on the wellness of the housing and construction industry. Some of the factors driving the growth of showerheads in the global luxury plumbing fixtures industry include introduction of smart cities and homes, increasing hospitality sector, and rising upper middle class population with materialistic lifestyle. In addition, water conserving showers and showers with superior style, design, and functionality fuel the growth of the market. Also, product innovations include multiple, low flow, rain showerheads, digitally controlled configurations for spray, therapeutic lights, and eco-friendly showerheads add spur to the global luxury plumbing fixtures market growth.
- This report provides an in-depth analysis of the global luxury plumbing fixtures market to identify the potential investment pockets.
- It outlines the current trends and future scenarios to determine the overall market potential and gain stronger market foothold.
- Key drivers, restraints, and opportunities along with their detailed impact analysis have been elucidated.
- Quantitative analysis of the market for the period of 2014–2022 are highlighted to recognize the financial competency of the market.
- Porter’s Five Forces model illustrates the threat of new entrants, threat of substitutes, strength of the buyers, and strength of suppliers.
Luxury Plumbing Fixtures Market Key Segmentation
- Bathroom fixtures
- Others (faucets, sinks)
- Kitchen fixtures
By End User
- Residential sector
- Non-residential sector
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players
- Bradley Corporation
- Little Giant
- Toto Ltd.
- American Standard
- Sterling Faucet Company
Other Players in the Market
- Natphil Inc.
- Water Matrix
- Dahl Brothers (Canada) Ltd
- Fiberez Bathware
- The Noble Co.
- Rada Mechanical Products Ltd
- Falcon Waterfree Technologies