The global plumbing component market size was valued at USD 114.4 billion in 2023. It is projected to reach USD 186.9 billion by 2032, growing at a CAGR of 5.6% during the forecast period (2024–2032).
Plumbing components are vital constituents that comprise plumbing systems in buildings, enabling the transportation of water and the disposal of wastes. These components are essential for guaranteeing plumbing systems' performance, safety, and efficiency. Rapid urbanization and an increase in residential and commercial infrastructure developments are driving the plumbing components market growth. Nonetheless, initiatives involving renovating ancient structures are another factor influencing market growth. This factor is expected to give adequate growth potential for participants in the plumbing components market.
Furthermore, stringent regulations and initiatives by governments around the world aimed at water conservation and sustainable construction practices have necessitated the use of advanced plumbing components that allow for efficient water management and reduce waste, resulting in a positive market outlook.
Continuing construction activity and infrastructure development significantly impact the worldwide demand for plumbing components. The expansion of populations and ongoing urbanization necessitates the development of new residential, commercial, and industrial structures, creating a demand for plumbing systems comprising pipes, fittings, fixtures, and other essential elements. In August 2022, the Chinese government declared its intention to allocate almost USD 1 trillion to infrastructure megaprojects. According to GlobalData, construction activities in China are expected to see a compound annual growth rate of 9.3% between 2023 and 2025.
Additionally, The proliferation of new housing developments and residential complexes worldwide generates a significant need for plumbing components. Every residential dwelling necessitates an all-encompassing plumbing infrastructure, encompassing water supply and drainage pipes, faucets, and fixtures. The U.S. Census Bureau reported 1,413,100 dwelling units initiated in 2023, representing a 9% decrease compared to the previous year's statistic. Nevertheless, house construction commenced in July 2023 reached a total of 1.452 million, representing a 5.9% surge compared to July 2022. In addition, substantial plumbing systems are necessary for large-scale infrastructure projects, such as airports, hospitals, and educational institutions. This encompasses providing water, sanitation, and specific systems such as HVAC (heating, ventilation, and air conditioning).
Moreover, India is projected to allocate around Rs 143 lakh crore for investment between 2024 and 2030, a twofold increase compared to the expenditure incurred between 2017 and 2023. The worldwide construction and infrastructure development surge directly influences the plumbing components market. The need for pipes, fittings, valves, and other components increases proportionally with the construction of new structures and the rehabilitation of existing ones. Collaborations between plumbing component manufacturers and suppliers with construction businesses and contractors are advantageous for supplying the required supplies for plumbing systems in diverse projects.
The plumbing component sector depends on various raw materials, including copper, steel, polymers, and brass. Volatility in the prices of these materials can directly influence the manufacturing expenses of plumbing components, hence impacting the total profitability of producers. Copper, a commonly utilized substance in plumbing pipes, fittings, and valves, is prone to price fluctuations affected by various causes, including worldwide demand, supply interruptions, and geopolitical occurrences. In 2023, copper prices exhibited significant volatility, with the average price per ton on the London Metal Exchange fluctuating between USD 7,902 and USD 9,356. The metric ton cost experienced significant fluctuations within a range of USD 1,500 before ending the year with no change compared to January.
Moreover, the fluctuation in copper prices directly impacts the cost structure of firms producing plumbing components. Rapid surges in pricing can result in elevated manufacturing expenses, which can hurt profit margins unless these expenses can be transferred to consumers. Manufacturers may employ pricing techniques to manage the impact of volatility in raw material prices, but this can also affect their competitiveness in the market. To reduce the adverse effects of fluctuating raw material prices, certain producers may consider using substitute materials or implementing hedging measures to ensure stable pricing.
The increasing focus on environmental sustainability and water conservation offers a substantial potential for manufacturers of plumbing components to fulfill the rising need for environmentally friendly and energy-efficient solutions. Manufacturers can exploit this opportunity by creating and advertising water-efficient fixtures, intelligent plumbing systems, and components crafted from sustainable materials. Examples of water conservation measures include low-flow faucets, dual-flush toilets, and rainwater harvesting systems, which align with the worldwide emphasis on preserving water resources.
Additionally, the growing acceptance of green building certifications, such as LEED (Leadership in Energy and Environmental Design), underscores the need for environmentally friendly plumbing systems. Plumbing systems in LEED-certified buildings frequently give priority to water efficiency. Water scarcity concerns and regulatory initiatives promoting water-efficient plumbing systems drive the market's growth. As an illustration, the WaterSense program, administered by the U.S. Environmental Protection Agency (EPA), encourages the adoption of water-efficient goods, stimulating the market for these solutions.
Furthermore, the market's future is expected to be influenced by ongoing advancements in sustainable plumbing components, including the creation of biodegradable materials and closed-loop water systems. A significant development will be the growing incorporation of the Internet of Things (IoT) and intelligent technology in plumbing systems to enhance water management and conservation. Cooperation among manufacturers, industry associations, and regulatory bodies to define and endorse industry standards for environmentally friendly plumbing components.
| Study Period | 2019-2031 | CAGR | 5.6% |
| Historical Period | 2019-2021 | Forecast Period | 2023-2031 |
| Base Year | 2022 | Base Year Market Size | USD 108.4 Billion |
| Forecast Year | 2031 | Forecast Year Market Size | USD 117.01 Billion |
| Largest Market | Asia-Pacific | Fastest Growing Market | North America |
The global plumbing component market analysis is conducted in North America, Europe, Asia-Pacific, Middle East Africa, and Latin America.
Asia-Pacific is the most significant global plumbing component market shareholder and is estimated to grow at a CAGR of 5.1% over the forecast period. It is projected to grow substantially at a significant compound annual growth rate (CAGR) over the forecast period. The Asia-Pacific plumbing component market analysis encompasses China, Australia, India, Japan, and other countries in the Asia-Pacific region. China has a significant market share, and India is expected to experience rapid growth throughout the projected decade. There are increasing construction projects for both business and residential infrastructure. China's construction industry is projected to experience a 3.6% growth in 2023, driven mainly by an expansion in infrastructure, energy, and utilities construction. Anticipated growth of around 7% is projected for the industrial construction sector in 2023. China's infrastructure investment has consistently maintained a significant level, accounting for 6.7% of its Gross Domestic Product (GDP). China's infrastructure spending in 2021 was almost tenfold more critical than that of the United States.
Additionally, countries such as China, India, Singapore, and South Korea have been recognized as prospective markets for plumbing equipment. Reliance Worldwide Corporation Limited, Finolex Industries, and As-sur Hardware, significant players in the Asia-Pacific market, substantially influence the market's growth. Several prominent companies have established manufacturing plants in Asia. They are currently focused on expanding their operations to better cater to the economies of the Asia-Pacific region and enhance their production capacity. Reliance operates three manufacturing facilities in the United Kingdom, and it has a worldwide sales and distribution network consisting of approximately ten subsidiary locations.
North America is anticipated to exhibit a CAGR of 5.4% over the forecast period. The plumbing component market in North America encompasses both the United States and Canada. Plumbing equipment has the second-highest market share in North America. Due to the high per capita wealth in the U.S. and Canada, North American consumers often buy and install luxurious and high-quality equipment in bathrooms and toilets. Bathrooms and toilets undergo renovation to enhance their visual appeal or in response to the malfunction of a particular sanitary fixture, such as water leakage due to deteriorated pipes. The U.S. Census Bureau reported that in 2023, 33,000 single-family homes were finished with one and a half bathrooms or fewer, while 362,000 homes had three or more bathrooms.
Furthermore, residences with recently refurbished bathrooms sometimes command higher prices than residences with antiquated toilets. The demand for plumbing equipment in North America is expected to be influenced by the value of homes that have undergone bathroom renovations. The primary catalyst driving the growth of the U.S. plumbing components market is the surge in remodeling and building projects. Again, advancements in the portable sanitation business might also stimulate market growth. English-speaking North America possesses approximately 2.0 – 2.2 million portable restrooms, which accounts for a significant portion of the 3.6 million portable restrooms worldwide. As of July 14, 2023, the United States had 2,906 enterprises engaged in the rental of portable toilets, representing a growth rate of 5.8% compared to the previous year.
The European plumbing component market is a substantial segment of the broader construction and building materials sector. Europe prioritizes bathroom design and functionality. High-end bathroom fixtures, such as bathtubs, sinks, toilets, and bidets, frequently include water-conserving technologies and contemporary designs. Notwithstanding the deceleration, construction volumes continue to be substantial. EU construction production in June 2023 was unchanged compared to the previous year. Therefore, the market is anticipated to gradually increase in size during the projected timeframe.
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The global plumbing component market is segmented based on product, application, end-user, and region.
The market is further segmented by product into Fittings, Manifolds, Pipes, and Valves.
Pipes account for the largest share of the market. Pipes are essential components of plumbing systems, acting as channels for conveying liquids or gasses. In the plumbing industry, pipes are available in various materials, such as copper, PVC, PEX, and steel. These materials are selected for specific purposes, considering aspects like longevity, corrosion resistance, and cost. Pipes are classified into supply pipes, used to transport water, and drain pipes, used to remove effluent. Pipes constructed with more robust material properties are employed to provide dependable performance in challenging environments and prevent structural damage. Manufacturers introduce new items with distinct features based on their installation location. The advancement of pipe manufacturing methods, such as the creation of flexible PEX piping, improves the speed and adaptability of plumbing installations.
In the plumbing component market, fittings are connectors that join different sections of pipes and enable modifications in the plumbing system's direction, branching, or termination. These components are essential for establishing a smooth and operational network of pipes. Fittings are available in various forms, such as elbows, couplings, tees, reducers, and adapters. Manufacturers frequently create fittings to accommodate multiple pipe materials and sizes, offering adaptability for plumbing projects. Professionals and DIY enthusiasts in plumbing projects prioritize the longevity, precision, and ease of fittings installation.
The market can be bifurcated by application into Bathtubs, Showerheads, and Faucets.
Bathtubs influenced the market growth. Bathtubs serve as a crucial application requiring specialized components to hold and drain water. The essential elements of bathtub plumbing consist of water supply faucets, drain fittings, overflow systems, and integrated plumbing for additional features such as whirlpool jets or showerhead attachments seen in combination units. These elements guarantee optimal water circulation, efficient drainage, and user manipulation within the framework of a bathtub. The plumbing components used in bathtubs play a crucial role in enhancing the bathing experience, and their performance directly affects consumer pleasure. Bathtubs have improved attractiveness and functionality by including water-efficient faucets, dependable drains, and cutting-edge amenities.
Showerheads are important to plumbing systems and need particular components to distribute and manage water. The components in this category comprise shower faucets, water valves, and a range of showerhead styles, such as rainfall, handheld, and adjustable sprays. Showerhead components are equipped with water pressure regulators and anti-scald features to ensure safety and enhance user comfort. The design and efficacy of showerhead components impact water consumption, spray patterns, and temperature regulation during showers. Water-saving features and vast design possibilities enhance the showerhead components' market attractiveness.
Based on end-users, the market is fragmented into residential and non-residential.
Residential generates the most revenue in the market. The residential sector of the plumbing component market serves the components utilized in houses, apartments, and other residential structures. It includes various plumbing fixtures and systems specifically created for residential purposes, such as bathrooms, kitchens, utility areas, and outdoor spaces. Residential plumbing components encompass faucets, showerheads, pipes, fittings, and valves designed for home use. These faucets are specifically designed for use in kitchen sinks and are essential for duties such as dishwashing and food preparation. Characteristics may encompass retractable sprayers, hands-free functionality, and water-conserving features. Residential structures employ plumbing systems that use pipes and fittings to facilitate water delivery, drainage, and heating. PEX, PVC, and copper are often employed materials.
The non-residential sector includes plumbing fixtures in commercial, industrial, institutional, and public environments. This encompasses corporate workplaces, hospitality establishments, medical facilities, educational institutions, commercial complexes, and diverse public works. Plumbing systems in non-residential contexts must adhere to precise criteria for heavy usage, long-lasting performance, and adherence to business regulations. There is an increasing focus on implementing water-saving fixtures and technologies in non-residential buildings to achieve environmental objectives and comply with legislation. Strictly adhering to construction norms and standards governing plumbing systems in non-residential buildings significantly impacts the selection of components for safety and efficiency.
