Plumbing Fittings and Fixtures: A Global Strategic Business Report
San Jose, CA (PRWEB) March 17, 2008
With the growing intensity of water shortages, there arises a demand for plumbing products that utilize water effectively, involving minimal wastage. Rising popularity of premium high-end products is also a key factor contributing to market expansion. Majority of home upgrade projects center upon kitchens and bathrooms, driving up market demand for fittings and fixtures of a wide array. Demand for innovative products, luxury fittings, whirlpool baths and integrated shower systems, primarily from high-income consumers, is also a key growth driver.
Europe is the largest plumbing fittings and fixtures market in the world and is projected to cross $16 billion by 2010 as stated by Global Industry Analysts, Inc. United States is the second largest market followed by Asia-Pacific. Asia-Pacific market is the fastest growing region in the global plumbing fittings and fixtures market and is projected to grow at a compounded annual rate of more than 5.5% during the 2001-2010 period. The market for plumbing fixtures, with an estimated share of over 53% for 2007, is projected to exceed $29.5 billion by 2010, while plumbing fittings is forecast to record a compounded annual growth rate exceeding 4.2% during the 2001-2010 period.
Demand for products that are stylish, yet provide greater functionality are fuelling the kitchen sector. Another trend is the growing demand for mix and match products (traditional and contemporary). Recent introduction of unique faucet systems and electronic sensor faucets that deliver filtered water has enhanced sanitation levels in the kitchen environment. Though variety is the buzzword in kitchen and bath faucets market, more contemporary plumbing fixtures are likely to outpace traditional and staid products that made inroads in early 2001 and 2002.
The residential sector experienced a growth spurt during the five-year period from 2000 to 2005, on account of a strong upsurge in the construction of new houses in majority of developed nations. However, a cyclic slackening seen in these markets is expected to lower demand for plumbing fittings and fixtures. Conversely, non-residential markets are expected to bounce back in many developed countries, with long-pending building related expenditures being carried out.
The report titled "Plumbing Fittings and Fixtures: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a review of market trends, product overview, product introductions/innovations, and recent industry activity. The study also analyzes market data and analytics in value sales for regions such as United States, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America by the following product groups/segments - Plumbing Fittings (Single Lever Fittings, Bath & Shower Fittings, Lavatory, Sink Fittings, Drains & Overflows, and Other Fittings); and Plumbing Fixtures (Sinks, Bath Tubs, Vitreous Water Closets, Urinals, Vitreous Flush Tanks, Lavatories, Shower Stalls, and Other Fixtures).
Key players dominating the global plumbing fittings and fixtures market include American Standard, Armitage Shanks, Asahi Eito, Black & Decker Corporation, Elkay Manufacturing Co., Friedrich Grohe AG & Co. KG, Ideal Standard, Jacuzzi Whirlpool Bath, Kohler Co., MAAX Corp., Masco Corp, Moen, Roca UK, Sanitec Corp., Toto Ltd., and Villeroy & Boch.
For more details about this research report, please visit http://www.strategyr.com/Plumbing_Fittings_and_Fixtures_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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