The global market for plumbing fixtures & fittings is dominated by players such as Geberit AG (Switzerland), Kohler Co. (U.S.), Jacuzzi Inc. (U.S.), Masco Corporation (U.S.), LIXIL Group Corporation (Japan), Fortune Brands Home & Security, Inc. (U.S.), TOTO Ltd. (Japan), and Roca Sanitario, S.A. (Spain). The other players in the market are Elkay Manufacturing Company (U.S.) and MAAX Bath Inc. (Canada). These players have adopted various strategies to expand their global presence and increase their market share. New product developments, acquisitions, agreements, partnerships, and expansions are the major strategies adopted by the market players to achieve growth in the market.
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The growth of the plumbing fixtures & fittings market was largely influenced by new product developments in the past six years. A large number of developments such as new product developments, acquisitions, agreements, joint ventures & strategic alliances, and expansions were made by top players in the market from fiscal year 2014 till July 2016.
New product developments was the major strategy adopted by most of the players in the plumbing fixtures & fittings market in 2016. Companies such as Fortune Brands Home & Security, Inc. (U.S.), TOTO Ltd. (Japan), Elkay Manufacturing Company (U.S.), MAAX Bath Inc. (Canada), and Jacuzzi Inc. (U.S.) adopted this strategy to strengthen their product portfolio and to gain a competitive advantage.
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In the year 2016, Delta Faucet Company, subsidiary of Masco Corporation (U.S.) launched Sanborne toilet seat with nightlight. During this period, Elkay Manufacturing Company (U.S.) entered into collaborative partnership with world-leading granite sink manufacturer, Schock GmbH of Germany. The partnership is focused on expanding Elkay’s granite product line, enabling the company to introduce bold new colors and styles to the American fixtures market. Through the agreement, Elkay will obtain exclusive distribution rights for Schock granite sink products in the U.S. marketplace that will be marketed as part of Elkay’s own granite product. This partnership will help the company to expand its business in sink market in both residential and non-residential buildings.
Also, the year 2014 and 2015 saw a lot of acquisitions by key players to increase their geographic presence and expand their product portfolio to untapped markets. LIXIL Group Corporation (Japan) and the Development Bank of Japan entered into an agreement for the acquisition of an 87.5% equity interest in Grohe Group (Luxembourg). This acquisition helped to widened product range related to plumbing and diversify the geographical presence. LIXIL Group is planning to make further progress in building the leading platform in the global sanitary industry whilst also strengthening its distribution network across Asia.
Key players such as Geberit AG (Switzerland), LIXIL Group Corporation (Japan), Elkay Manufacturing Company (U.S.), MAAX Bath Inc. (Canada), and Roca Sanitario, S.A. (Spain) adopted the strategy of expansion to increase their geographic presence and expand their product portfolio to untapped markets. Geberit expanded in the Asia-Pacific region by opening its new headquarters in in Shanghai, China. The company has 15 sales offices and two production facilities in the Asia-Pacific region. Through this, the company intends to extend its infrastructure in order to take advantage of the long-term growth potential in the plumbing fixtures & fittings market.
