Plumbing Component Market

Market Overview

The global plumbing component market size was valued at USD 60.6 billion in 2022. It is projected to reach USD 98.9 billion by 2031, growing at a CAGR of 5.6% during the forecast period (2023–2031).

Fittings, manifolds, pipes, and valves are plumbing components installed in plumbing connections and sanitary equipment to complete the operation. The residential segment includes plumbing fixtures installed in the bathrooms, lavatories, and kitchens of bungalows, single-family homes, apartments, townhouses, and privately owned structures. Plumbing fixtures used in restrooms, kitchens, or public restrooms in hotels, shopping centers, offices, and other public places fall under the non-residential category. New construction projects and renovations of outdated bathrooms and kitchens in residential and non-residential buildings drive the plumbing component market. Plumbing component sales will rise due to replacing damaged or broken parts. Additionally, some renovation work is completed when homes—whether houses, bungalows, or apartments—are sold and the new owner decides to redecorate. Another aspect of selling plumbing components is installing modern sanitary equipment instead of outdated equipment. Manufacturers have acknowledged the market expansion opportunity to offer customers a wide range of products and increase their product offerings in new regions. They have adopted several strategies, including the launch of new products, the acquisition of businesses, and business expansion.

Market Dynamics

What Are The Primary Factors Driving The Market For Plumbing Components?

Renovation Of Residential And Non-Residential Bathrooms And Toilets

In developed countries in Europe and North America, there has been an increase in bathroom and toilet renovation activities in both residential and non-residential buildings. After a few years, customers often aesthetically improve bathrooms with already-built infrastructure. Companies like C.Woods Company and Made Renovation provide comprehensive solutions for bathroom and toilet renovation services in light of this renovation trend. Under one roof, they provide various services, such as shower repair, toilet replacement, bathroom sink replacement, and bathtub faucet repair. As a result, one of the major factors propelling the global plumbing components market is remodeling and renovating outdated bathrooms and toilets. In addition to enhancing the bathroom and kitchen look, high-quality plumbing components also reduce the need for future repairs and their associated costs. Additionally, the availability of various plumbing component types contributes to expanding the plumbing component market globally.

Increase In Construction Of Malls And Offices

Current mall and office construction projects in developing countries in Latin America, Asia, and Africa significantly impactexpanding the global market. For instance, since 2017, about 100 malls have been constructed in Latin America. In addition to stores, malls house dining establishments, theaters, and gaming areas. This has led to a noticeable increase in customer traffic in malls, increasing demand for essential services like restrooms. The expansion of malls increases the demand for plumbing parts, propelling the market's overall growth. Furthermore, significant cities now have new, opulent office buildings thanks to the rapid industrialization of developing nations. For instance, over 17 significant IT parks are currently being constructed in India's major cities, including Mumbai, Delhi, Pune, Bangalore, and Hyderabad.Bathrooms and toilets are among the necessities in workplaces. As a result, the development of new offices is fueling the expansion of the market for plumbing components worldwide.

What Are The Main Obstacles To The Market Expansion For Plumbing Components?

Decrease In New Construction Activities In Developed Nations

Forced lockdowns and travel restrictions caused construction activities to cease, which reduced the demand for plumbing parts. Additionally, the production of plumbing components was impacted by the disruption of supply chains and the closing of factories and manufacturing facilities. The global market for plumbing components was hampered as a result. Due to preexisting infrastructure, the recent industrial downturn, and high construction costs, new construction activities have reached saturation in developed countries in North America and Europe. The COVID-19 outbreak has hampered the global economy by halting the construction sector's operations, which is expected to harm the market for plumbing components. Additionally, the decline in significant investments in brand-new construction projects has ultimately slowed the expansion of the global market.

What Are The Future Opportunities For Plumbing Component?

Infrastructural Development In African Nations

Forced lockdowns and travel restrictions caused construction activities to cease, which reduced the demand for plumbing parts. Additionally, the production of plumbing components was impacted by the disruption of supply chains and the closing of factories and manufacturing facilities. The global market for plumbing components was hampered as a result. Due to preexisting infrastructure, the recent industrial downturn, and high construction costs, new construction activities have reached saturation in developed countries in North America and Europe. The COVID-19 outbreak has hampered the global economy by halting the construction sector's operations, which is expected to harm the market for plumbing components. Additionally, the decline in significant investments in brand-new construction projects has ultimately slowed the expansion of the global market.

Segmental Analysis

The market is segmented by product, application, and end users.

Based on product, the globalplumbing component market is bifurcated into fittings, manifolds, pipes, and valves.

The pipes segment is the highest contributor to the market and is expected to grow at a CAGR of 5.5% during the forecast period.Pipes are constructed from various materials, including aluminum, polyethylene, and plastic, and adhesive layers that strengthen them so they can withstand high temperatures and vibrations without breaking or showing signs of cracking. For reliable operation in harsh conditions and to avoid cracking, pipes with more substantial material characteristics are used. Depending on where they have an installation, manufacturers release new products with specific features. For instance, Rifeng Southern Africa introduced the FLOWPEX 15 and 22-mm multilayer pipe in October 2021. This multilayer piping system gives plumbers and ends users in the market a compact, durable, and versatile choice.

Based on application, the globalplumbing component market is bifurcated into bathtubs, showerheads, faucets, and others.

The other segment is the highest contributor to the market and is expected to grow at a CAGR of 5.2% during the forecast period.This segment includes plumbing tools for installing other products like drainage systems and toilet pots. To avoid unwelcome sewage issues, bathrooms and toilets must have effective drainage systems. For instance, Wade, a McWane subsidiary, provides sinks and floor drain shanks for toilets and bathrooms. It filters unwanted solid waste while allowing water to flow down the drain to keep the drainage system from becoming clogged or blocked. Therefore, a drain shank or sink is required when building new bathrooms and toilets. Additionally, it is anticipated that an increase in the reconstruction and renovation of outdated toilets and bathrooms in both residential and non-residential infrastructure will significantly contribute to the growth of the plumbing equipment market globally.

The global plumbing component market is bifurcated based on end users into residential and non-residential.

The residential segment is the highest contributor to the market and is expected to grow at a CAGR of 5.4% during the forecast period.The residential segment includes plumbing fixtures installed in kitchens, lavatories, and bathrooms of single-family homes, apartments, condominiums, townhouses, and independently owned structures. The market demand for plumbing equipment is anticipated to increase due tothe construction of new buildings, bathroom and toilet repairs, and reconstruction and renovation activities. The development of large residential townships in developing nations has driven the demand for plumbing equipment. Additionally, the increased demand for replacement and replacement and repair of old plumbing equipment significantly contributes to the expansion of the global market.

Regional Analysis

Asia Pacific Dominates the Global Market.

The global plumbing component market is bifurcated into four regions: North America, Europe, Asia-Pacific, and LAMEA.

Asia Pacific is the highest shareholder in the globalplumbing component market and is expected to grow at a CAGR of 4.9% during the forecast period.China, Australia, India, Japan, and the rest of Asia-Pacific are all included in the Asia-Pacific plumbing component market analysis.China holds a sizable portion of this market, and India is anticipated to proliferate during the forecast period. A growing number of commercial and residential infrastructure projects are being built. As a result, nations like China, India, Singapore, and South Korea have been identified as potential markets for plumbing equipment. Significant market participants in Asia-Pacific, including Reliance Worldwide Corporation Limited, Finolex Industries, and As-sur Hardware, significantly impact the market's expansion. Many major players have manufacturing facilities in Asia and are working on expanding those facilities to serve Asia-Pacific economies betterand increase production volumes. Three manufacturing facilities are in the UK, and Reliance has a global sales and distribution network with about ten subsidiary locations.

North Americais expected to grow at the fastest CAGR of 6.1% during the forecast period. The U.S. and Canada are included in the analysis of the plumbing component market in North America.North America held the second-largest market share for plumbing equipment. North American consumers frequently purchase and install opulent and high-end products in bathrooms and toilets due to the high per capita income in the U.S. and Canada. Old bathrooms and toilets are renovated to improve their aesthetics or when a specific sanitary fitting breaks down, such as when old, damaged pipes cause water to leak. Additionally, houses with newly renovated bathrooms frequently sell for more money than houses with outdated bathrooms. As a result, the demand for plumbing equipment in North America is anticipated to be driven by the value of homes with renovated bathrooms. The increase in renovation and construction projects is the main factor fueling the U.S. plumbing components market growth.

Recent Developments

• November 2022, The system has a 30-year warranty and is EN14125 certified. The SMART FLEX welder, which manages and logs each weld and offers a comprehensive weld report of the installation, is used to install pipe. The entire HDPE pipe and fitting system,known as SMART FLEX, is used to transport fuel at airports, marinas, and service stations along highways and roads.

• October 2022, Uponor North America (Uponor) is introducing hot potable pipe and fittings to help meet the demand for commercial, domestic water systems as the company's PP-RCT piping solutions business continues to grow.

Plumbing Component Market Segmentation

By Product

• Fittings
• Manifolds
• Pipes
• Valves

By Application

• Bathtubs
• Showerheads
• Faucets
• Others

By End User

• Residential
• Non-Residential

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA