How Big is the Plumbing Component Market ? :
IMARC Group’s latest report, titled “Plumbing Component Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, the global plumbing component market size reached US$ 59.98 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 82.15 Billion by 2028, exhibiting a growth rate (CAGR) of 5.47% during 2023-2028.
What is Plumbing Component ? :
A plumbing component is an essential element that forms the backbone of a buildings water distribution and drainage systems. These components include pipes, fittings, valves, faucets, fixtures, and pumps, working harmoniously to ensure the efficient flow and control of water and other fluids. Pipes transport water from its source to various outlets, while fittings provide secure connections. Valves regulate water flow, faucets control water release, and fixtures like toilets and sinks facilitate water use. Pumps aid in water pressure maintenance. Plumbing components are crucial for maintaining proper hygiene, comfort, and functionality in residential, commercial, and industrial settings, making them integral to modern living.
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Who are the key Players Operating in the Industry ? :
- Central States Industrial Equipment and Service Inc.
- Finolex Industries Limited
- McWane Inc.
- Morris Group International Inc.
- Mueller Industries Inc.
- Nupi Industrie Italiane S.p.A.
- Reliance Worldwide Corporation Limited
- Tigre USA Inc.
- Turnkey Industrial Pipe & Supply Inc.
- Uponor Oyj
- Westlake Pipe & Fittings Corporation (Westlake Corporation)
What are the Growth Prospects and Trends in the Plumbing Component Industry ? :
The global market is majorly driven by the increasing infrastructure development, including water supply and sanitation systems. In line with this, rapid urbanization has led to rising construction activities and the need for modern plumbing systems in residential and commercial buildings, significantly contributing to the product demand. Furthermore, the rising global population translates to higher demand for housing and infrastructure, further fueling the market for plumbing components.
Apart from this, the growing awareness of water scarcity and sustainability has led to the adoption of water-saving plumbing components, catalyzing the market for eco-friendly products. Moreover, the upgrades and renovation projects in existing buildings often involve replacing outdated plumbing components, accelerating market growth. Besides, the innovative plumbing components with improved features, such as smart faucets and water-efficient fixtures, attract consumers and propel the market. Additionally, the building codes and regulations mandating certain plumbing components, especially those related to safety and water conservation, contribute to market expansion.
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What is Included in Market Segmentation ? :
Product Insights:
- Fittings
- Manifolds
- Pipes
- Valves
Application Insights:
- Bathtubs
- Showerheads
- Faucets
- Others
Distribution Channel Insights:
End User Insights:
- Residential
- Non-residential
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us :
IMARC Group is a leading market research compan that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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