Plumbing Components Market Size is expected to reach US$78,218.9 million in 2027 at a CAGR of 5.6% forecast through 2027
PORTLAND, OR, UNITED STATES, May 5, 2023 /EINPresswire.com/ — The plumbing components market has seen significant growth over the years as a result of increasing demand for plumbing systems across various sectors. The market is driven by the burgeoning construction industry, particularly in developing countries. Plumbing components such as pipes, fittings, valves, fittings and other accessories play a vital role in plumbing installations and are made of various materials such as copper, PVC and plastic.
Global Plumbing Components Market Size is expected to reach US$78,218.9 million in 2027, up from US$58,516.6 million in 2019, and will grow at a CAGR of 5.6% from 2020 to 2027.
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Leading Market Players in Global Plumbing Components Market are:
Aalberts NV (Lasco Fittings), Central States Industrial, Finolex Industries Ltd., McWane, Inc., Morris Group (Acorn), Mueller Industries, NupiIndustrieItaliane SpA, Reliance Worldwide Corporation Ltd., Turnkey Industrial Pipe & Supply Inc. and Uponor Corporation.
The market is segmented by type of components and regions, with Asia Pacific being the largest market for plumbing components. The plumbing component industry has experienced steady growth over the years, driven by increasing demand for plumbing systems in residential, commercial and industrial sectors. The industry includes the manufacture and sale of pipes, fittings, valves, fittings and other accessories required for plumbing installations.
The Plumbing Components Market can be segmented by region which includes North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The Asia-Pacific region is the largest market for sanitary components due to the increasing demand for sanitary systems in developing countries such as India and China. Due to the growing construction industry in the region, the Middle East and Africa region is expected to grow the fastest during the forecast period.
The market for sanitary components is constantly growing due to the increasing demand for sanitary systems in residential, commercial and industrial areas. The market is anticipated to witness significant growth over the forecast period owing to the growing construction industry in developing countries. Key market players focus on product innovation and strategic partnerships to strengthen their market position.
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KEY BENEFITS FOR STAKEHOLDERS
This study provides an analytical presentation of Plumbing Components Market trends with current trends and upcoming estimates to present the upcoming investment pockets.
The report offers the overall potential to understand the lucrative trends to gain a stronger foothold in the Plumbing Components market.
The Plumbing Components Market analysis report provides statistics based on key factors along with a thorough impact analysis.
The present market forecast is quantitatively studied to achieve the financial performance.
Porter’s Five Forces Analysis shows the strength of consumers and suppliers in the industry.
Regional Analysis:
Regionally, the global Plumbing Components market analysis is conducted in North America (United States, Canada and Mexico), Europe (United Kingdom, France, Germany, Italy and Rest of Europe), Asia-Pacific (China, Japan, India), South Korea and Rest of Asia -Pacific) and LAMEA (Latin America, Middle East and Africa). In 2020, Asia Pacific made the largest contribution to the global Plumbing Components market share and LAMEA is expected to occupy a leading position during the forecast period
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