North America Plumbing Fixtures Industry Overview
The North America plumbing fixtures market size was valued at USD 22.40 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 7.5% from 2021 to 2028. An increasing number of construction projects of residential buildings, hotels, restaurants, and airports, coupled with the growing need for modernized bathrooms and kitchens, is driving the market growth. The global COVID-19 pandemic has significantly increased the awareness among people regarding self-hygiene and maintaining a clean environment. Moreover, frequently washing hands with soap has been identified as a critical preventive measure by healthcare organizations around the world. This has had a positive impact on the growth of bathroom fixtures and the trend is likely to continue in the months to come. However, this pandemic has taken a toll on the overall supply chain of the industry, owing to strict lockdown conditions and diminishing supply.
The rising prominence of multi-functionality with due importance on the aesthetic appeal of plumbing fixtures is also boosting the demand for these products. according to the U.S. Census Bureau, new homes sold soared 43.2% y-o-y to a seasonally adjusted annual rate of 1,011,000 units in August 2020. Also, house prices in Canada grew 4.6% YoY in November 2020, following an increase of 3.9% YoY in the previous month. A rise in the average number of bathrooms in U.S. households is generating greater demand for newer plumbing fixtures, according to a January 2020 blog by The Atlantic.
Gather more insights about the market drivers, restraints and growth of the North America Plumbing Fixtures market
According to the U.S. Census Bureau, of the 903,000 single-family homes completed in 2019, 32,000 had one and one-half bathrooms or less and 296,000 homes had three or more bathrooms. The rapid expansion of the real estate sector is creating an increased need for plumbing fixtures, indicating growth prospects for the market According to a blog by Hospitality Trends, U.S. STR’s hotel pipeline showed 1,615 projects, accounting for 208,807 rooms, in construction at the end of January 2020, representing a 6.8% year-over-year increase in the number of rooms in the final phase of the development pipeline. Rapid construction in the commercial segment, particularly the hospitality sector, is also driving the product demand.
The hotel industry is a major contributor to the country’s hospitality sector. The booming tourism and real estate industries, accompanied by various infrastructural developments in the hospitality sector, will continue to augment the market growth over the forecast period. Developments in the portable sanitation industry can also drive the market. According to the Portable Sanitation Association International, there are 3.6 million portable restrooms in service across the globe, with the North American region representing 2.0 to 2.2 million portable restrooms in 2019. Any expansion in this industry poses lucrative growth opportunities for the market.
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North America Plumbing Fixtures Industry Segmentation
Grand View Research has segmented the North America plumbing fixtures market on the basis of product, deployment, distribution channel, and country
North America Plumbing Fixtures Product Outlook (Revenue, USD Million, 2016 - 2028)
- Bathroom Fixtures
- Bathroom Accessories
- Kitchen Fixtures
North America Plumbing Fixtures Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
- Online
- Offline
North America Plumbing Fixtures Deployment Outlook (Revenue, USD Million, 2016 - 2028)
- Residential
- Commercial
North America Plumbing Fixtures Country Outlook (Revenue, USD Million, 2016 - 2028)
- U.S.
- Canada
Market Share Insights:
July 2020: Moen Inc. took a majority stake in smart water start-up Flo Technologies. The new ownership stake is an evolution of the two companies work together to provide best-in-class whole-home water security and management solutions.
Key Companies profiled:
Some prominent players in the North America Plumbing Fixtures Industry include
- Delta Faucet Company
- Masco Plumbing Products
- Moen, Inc.
- Rohl
- Brizo
- Kallista
- Grohe
- Waterworks and Lefroy Brooks
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