San Jose, California (PRWEB) May 27, 2014
Follow us on LinkedIn. – Plumbing fittings and fixtures are crucial components of plumbing systems installed in buildings for efficient distribution of water within the building for drinking, washing, heating and for removing waterborne wastes from the building. Plumbing components are typically used in laying pipelines that provide means of transport for fluids into and out of the building. Given that efficient plumbing is a critical requirement for all buildings, demand for plumbing fittings and fixtures is dependent on the level of construction activity, which in turn is influenced by the overall health of the economy. The level of economic growth and construction activity primarily dictates market prospects for plumbing fittings and fixtures. Current improvement in economic growth as mirrored by the steady rise in global GDP, and improving consumer confidence is poised to boost housing starts, commercial and infrastructure construction projects and building renovation/retrofit activity in most nations.
Rapid urbanization in developing countries will continue to drive growth in the market, since strong urban concentration will trigger increases in infrastructure expenditure, and urban planning. The creation of large megacities involves the construction of high-rise buildings and skyscrapers, which in turn increases prospects for plumbing work, thus driving market prospects for plumbing fittings and fixtures. The urban drift and the ensuing growth in urban areas and reclassification of city boundaries is largely triggered by concentration of employment opportunities in urban areas and continuous shifting of opportunities from agricultural to industrial/tertiary sectors. Growing need to develop sustainable cities for the future will have a significant impact on market prospects in the coming years.
Building renovation projects are expected to benefit from the implementation of stringent regulations that mandate renovation and reconstruction of ageing buildings, both residential and commercial. Also, building renovations following natural disasters such as the Japanese Earthquake and Thailand Floods in 2011, Hurricane Sandy in 2012 and tornadoes in early 2013 in the United States will continue to generate demand for plumbing products. Demand for plumbing products for replacements is especially high in the residential construction sector. Home kitchen remodeling projects typically involve installation of multiple sinks for convenient cooking and bathrooms. Also, growth in the average size of new homes offers increased space that can accommodate multiple showers, bathtubs and whirlpool baths for comfort and luxury thus benefiting demand for plumbing fixtures.
As stated by the new market research report on Plumbing Fittings and Fixtures, Asia-Pacific represents the largest as well as the fastest growing market worldwide with a projected CAGR of 8.5% over the analysis period. Construction activity in the region is forecast to grow steadily driven by healthy gains in GDP growth, growing population, rising disposable incomes of an expanding base of middle class population, availability of capital and natural resources and increasing levels of urbanization. Increased investment in the industrial and infrastructure sectors additionally bodes well for the market.
Major players in the market include American Standard Brands, Armitage Shanks, Asahi Eito Co. Ltd., Elkay Manufacturing Company, Grohe AG, Ideal Standard, Jacuzzi Inc., Kohler Co., LIXIL Corporation, MAAX Batch Inc., Masco Corporation, Moen Incorporated, Roca Sanitario S.A, Roca UK, Sanitec Corp., Spectrum Brands Incorporated, Toto Ltd., and Villeroy & Boch, among others.
The research report titled “Plumbing Fittings and Fixtures: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), the Middle East and Latin America (Brazil and Rest of Latin America). Product segments analyzed include Plumbing Fittings (Bath & Shower Fittings, Lavatory Fittings, Kitchen and Other Sink Fittings and Other Fittings) and Plumbing Fixtures (Bath & Shower Fixtures, Lavatory Fixtures, Kitchen and Other Sink Fixtures and Other Fixtures).
For more details about this comprehensive market 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 leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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