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Plumbing Parts Market Size, Share, and Analysis By Product (Fittings, Manifolds, Pipes & Tubes, and Valves), By Application (Bathtubs, Showerheads, Sinks & Toilets, Faucets, and Others), By End User (Residential and Non-Residential), By Region (North America, Europe, Asia-Pacific, and Rest of the World), And Regional Forecast 2024-2034
Plumbing Parts Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 5.6% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 79.1 billion and is projected to reach USD 144 billion by the completion of 2034.
Plumbing parts are important elements of the plumbing systems that are used to transport water and remove waste within an infrastructure. They include water flow control valves, elbows, tees for pipe connections, waste and water transportation pipes, and fixtures like sinks, toilets, and showers. Moreover, plumbing parts also consist of drain assemblies (which allow water to exit fixtures), pumps (which move water in certain applications), flanges (which connect pipes to fixtures), and gaskets (which seal connections to prevent leaks). Besides, these components are available in different materials, such as brass, copper, PVC, and stainless steel, which are appropriate for the use of different plumbing environments.
Plumbing parts market is projected to reach USD 144 billion over the forecast period, due to the growing demand for modern plumbing solutions as well as a growth in construction and remodeling projects. In addition, technological developments are improving the functionality of plumbing components, such as water-saving fixtures and smart faucets. Moreover, in response to ecological concerns, the market is witnessing a shift towards sustainable and eco-friendly products. Industries are heavily spending on R&D to provide new solutions that suit the tastes of today's users. Also, the plumbing parts industry is putting a strong importance on resilience in the face of difficulties such as changing raw material costs and supply chain concerns. Therefore, this dynamic environment highlights the volatile nature and continuous growth of the plumbing parts market.
Source: Fatpos Global
Plumbing Parts Market is classified based on the Product into Fittings, Manifolds, Pipes & Tubes, and Valves. The Pipes & Tubes segment leads the plumbing parts market due to its important function in transporting water and waste across various plumbing systems. This segment benefits from its broad use in residential and commercial construction projects, such as in new constructions and renovations. In addition, the focus on infrastructure development creates a steady need for pipes and tubes, which are needed for installing and upgrading plumbing systems. Also, innovations in the material of the pipe provide greater longevity and convenience of installation. Thus, the fact that pipes and tubes are so vastly used and important to plumbing systems adds to their significance in the market.
Plumbing Parts Market is divided by Application into Bathtubs, Showerheads, Sinks & Toilets, Faucets, and Others. The faucets segment holds a dominant position in the plumbing parts market, due to its extensive usage and the need for frequent replacement in residential and commercial settings. The demand for faucets is constant as they are important fixtures in bathrooms and other spaces. In addition, the ease and efficiency of touchless and water-saving models, have contributed to their rising popularity. Besides, faucets are made to suit a wide range of consumer tastes by offering several styles and functionality, which helps them maintain their strong market position. As a result, faucets are the leading segment owing to the regular need for updates and replacements.
Source: Fatpos Global
Technological Expansions is Driving Growth in the Plumbing Parts Market
One of the main factors driving the growth of the market is the growth of plumbing technology. By offering features like temperature control and touchless operation, smart faucets are a major example of an innovation that improves user convenience. Similarly, aerated showerheads and low-flow toilets are water-saving fixtures that address environmental issues and save utility costs, which makes them popular with eco-conscious consumers. Besides, along with satisfying modern consumer choices, these technical developments address real-world demands in residential and business contexts. Furthermore, new product launches with better functionality are supporting growth and giving businesses a chance to provide advanced solutions. Thus, the plumbing parts market remains flexible and attentive to new trends due to the constant need for innovation.
Growing Renovation and Remodeling Activities Act as a Catalyst for Market Growth
Plumbing parts market is primarily boosted by the increase in renovation activities. New plumbing fixtures and parts are often needed when property owners and businesses engage in renovation projects. This trend is frequently observed in developing real estate markets where improving the beauty and value of properties is a priority. Furthermore, modern plumbing systems are more functional, as a result, the remodeling initiatives are a major driver of market growth. Moreover, the demand for plumbing parts is promoted by the high costs associated with household and commercial upgrades, thus creating new opportunities for manufacturers.
Fluctuating Raw Material Costs in the Market Will Impact the Growth
Plumbing components market is severely limited by fluctuating raw material costs. Price volatility is a result of geopolitical events and market conditions that affect essential resources such as copper, brass, and different types of polymers. The price stability of plumbing parts is impacted by these variations as they may result in higher production costs. Thus, maintaining profit margins while providing customers with competitive prices may provide difficulties for manufacturers. Moreover, unpredictable raw material costs can also affect inventory management, further putting a strain on the finances of companies. Therefore, to address these cost fluctuations and reduce their impact on the sector, cost management and strategic sourcing techniques are needed.
Plumbing Parts Market is segmented based on regional analysis into five key regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Given its advanced infrastructure and high level of building & renovation activity, the North American region dominates the market for plumbing parts. The long-standing plumbing sector in the region benefits from modern technology and a strong focus on eco-friendly solutions. Moreover, this growth of the North American region is attributed to the strong demand for modern-day fixtures and smart plumbing technologies.
On the other hand, due to its economic development and infrastructure investments, Asia Pacific is predicted to grow at an exceptional rate during the next ten years. The demand for plumbing parts is rising in these emerging nations due to an increase in residential and commercial construction activities. Furthermore, growing disposable incomes also fuel the growth of the market and make the Asia Pacific a crucial region for growth.
Source: Fatpos Global
Plumbing parts market was majorly impacted by the COVID-19 outbreak in several ways. Lockdowns and other restrictions during the pandemic caused delays and a decline in demand due to issues with supply chains and construction projects. Moreover, the suspension of new building projects affected market growth as well. However, as more people focused on improving their homes during the lockdown, the pandemic led to a rise in renovation activities. It increased awareness of health and cleanliness, which boosted the use of touchless and smart plumbing solutions. Therefore, as the industry adjusts to new health regulations, the recovery of the plumbing parts market is underway.
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2034 |
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Base Year |
2023 |
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Forecast Period |
2024-2034 |
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Historical Period |
2019-2022 |
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Growth Rate |
CAGR of 5.6% from 2024-2034 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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By Product |
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By Application |
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By End User |
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By Region |
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Plumbing Parts Market size was valued at USD 79.1 billion in 2023 and is projected to reach the value of USD 144 billion in 2034, exhibiting a CAGR of 5.6% during the forecast period.
The plumbing parts market comprises components used in plumbing systems, including pipes, fittings, faucets, valves, and fixtures.
The Pipes & Tubes segment and Faucets segment accounted for the largest Plumbing Parts Market share.
Key players in the Plumbing Parts Market include Johnson Controls, Honeywell International Inc., Moen Incorporated, Kohler Co., Delta Faucet Company, LIXIL Corporation, Geberit International AG, RWC (Reliance Worldwide Corporation), Viega LLC, TOTO Ltd., Danze Inc., Sioux Chief Manufacturing, Elkay Manufacturing Company, Pfister Faucets, Haws Corporation, and Other Players.
Technological developments, along with renovation and remodeling activities are the factors driving the plumbing parts market.
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