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WILMINGTON, Del., July 25, 2022 /PRNewswire/ — Demand for plumbing systems in residential and industrial constructions especially in emerging economies has been augmenting the plumbing industry market size. Rise in use of pipes and fittings in renovated buildings is a key trend that will augment the plumbing fittings market share in the plumbing industry. The global plumbing fittings market is forecast to advance at CAGR of 4.7% from 2022 to 2031.
An aging public infrastructure has spurred the need for plumbing fixtures and accessories in renovation projects, thus boosting the size of plumbing fittings market. Of note, consumers and architects are increasingly adopting durable and versatile piping systems. The trend has reinforced the revenue potential in PVC pipes and fittings market. Stridently, the sales of PVC pipes and fittings have proliferated worldwide over the years.
Need for new designs in plumbing work is catalyzing growth opportunities for plumbing fitting manufacturers. Companies are adopting cutting-edge technologies to manufacture high-performance PVC pipes. A case in point is the application of molecular orientation for the manufacture of next-gen pipes used in plumbing systems, thus extending the canvas for firms in the plumbing fittings market. The study found that brass, steel, and gunmetal are extensively used materials in range of plumbing fittings for drain, waste and vent (DWV) applications.
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Key Findings of Plumbing Fittings Market Study
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Plumbing Fittings Market: Key Drivers
Plumbing Fittings Market: Regional Growth Dynamics
Asia Pacific is a remarkable lucrative plumbing fittings market. The year-over-year revenue growth of the construction sector in various developing countries has spurred the demand for plumbing fittings. In emerging economies such as India and China, numbers of residential and non-residential constructions are rising, which has generated profitable opportunities for companies in the Asia Pacific
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Plumbing Fittings Market: Key Players
Product diversification and mergers and acquisitions are some of the key competitive strategies of players in the plumbing fittings market. Key players include:
Plumbing Fittings Market Segmentation
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