MarketsandMarkets projects that the global fixtures & fittings market size will grow USD 74.72 billion in 2015, to USD 102.07 billion by 2021, at a CAGR of 5.45%. Fixtures & fittings are used in residential and non-residential buildings in bathtub & shower fixtures, sink fixtures, toilet fixtures, and sink fittings among others. The residential buildings industry accounted for the largest market share in 2015. Rising disposable incomes of the urban population are stimulating the construction of new houses in urban regions, resulting in an increased demand for plumbing fittings & fixtures. The demand for plumbing products for replacements is especially high in the residential construction sector. Home kitchen remodeling projects typically involve the installation of multiple sinks for convenient cooking and bathrooms, thereby increasing the demand for plumbing fixtures & fittings.
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These products include various types of fixtures & fittings such as bathtub and shower fixtures, sink fixtures, toilet fixtures, bathtub & shower fittings, toilet fittings, sink fittings, and other plumbing fixtures and fittings. Residential buildings use bathtubs to gain a luxuriant experience. Many non-residential buildings such as hotels, gyms, and spa resorts use bathtub & shower fixtures as a way to promote their status and improve customer satisfaction. The rise in construction expenditures in the non-residential markets, including health care rehabilitation centers where whirlpool baths serve a more therapeutic purpose, will continue to support demand for bathtubs.
On the basis of raw material, the market for fixtures & fittings is segmented into vitreous china, metal, and plastics, which is further segmented into fiberglass, cast polymer, acrylic, and other plastics. The plastic segment is projected to grow at the highest rate, as it is easy to use and install, and is durable and adaptable. The metal segment is projected to grow at the second-highest CAGR during the forecast period.
In 2015, Asia-Pacific accounted for the largest share in the global fixtures & fittings market, by volume, with China being the fastest-growing market in this region. This was followed by North America, RoW, and Europe. The rising population makes infrastructure and sewage system development a necessity, and therefore new homes are constantly being connected to water delivery systems. These systems are reaching previously unserved areas, thereby creating new customers and generating demand for plumbing products. Apart from China, other industrializing countries in Asia, such as India and Indonesia, will also contribute to the overall demand for plumbing fixtures & fittings. Growing investments in smart buildings and homes, rise in bathroom and kitchen-modeling projects among the middle-class population, and the growing preference for upgraded fixtures and fittings are the major factors fueling the growth in the plumbing fixtures & fittings market in this region.
