Global Metal Plumbing Fixture Market on a Growth Trajectory: QY Research Report
- QY Research
- Oct 5, 2023
- 2 min read
[LA,5 October 2023 ] - Metal plumbing fixtures, including faucets, showerheads, and valves made of materials like brass, stainless steel, and copper, are experiencing a surge in demand due to their durability, strength, and aesthetic appeal. A recent market research report titled "Global Metal Plumbing Fixture Market Report 2023-2029," published by QY Research, projects substantial growth in the global metal plumbing fixture market. Here are the key highlights from the report:
Market Size Projection: The report forecasts that the global metal plumbing fixture market will grow from USD 14,480 million in 2023 to USD 21,120 million by 2029, at a compound annual growth rate (CAGR) of 6.5% during the forecast period.
Market Drivers:
Durability and Longevity: Metal plumbing fixtures are preferred for their ability to withstand high temperatures, corrosion, and wear and tear, requiring less maintenance and offering a longer lifespan compared to plastic fixtures.
Aesthetic Appeal: These fixtures provide a modern and stylish look with a variety of finishes, enhancing the overall appearance of bathrooms and kitchens.
Demand for Luxury Bathrooms: The rise in demand for luxury bathrooms drives homeowners and businesses to invest in high-quality metal fixtures.
Market Restraints:
Cost: Metal plumbing fixtures are generally more expensive than plastic alternatives, which may deter budget-conscious consumers.
Competition from Alternative Materials: Plastic, ceramic, and glass materials offer competition in terms of durability and aesthetic appeal.
Maintenance Requirements: While durable, metal fixtures still require maintenance, which may not suit consumers seeking low-maintenance options.
Market Opportunities:
Demand for Durability: Increasing environmental consciousness fuels demand for long-lasting plumbing fixtures.
Sustainability: Metal fixtures, often made from recycled materials and recyclable themselves, align with the growing interest in sustainable products.
Luxury and High-End Market: Metal plumbing fixtures are associated with luxury and high-end design, making them appealing to consumers upgrading homes and businesses.
Construction and Renovation Industry Growth: The expanding construction and renovation sector creates a larger market for plumbing fixtures.
Key Players: The report profiles key players in the Metal Plumbing Fixture market, including Kohler, Masco Corporation, TOTO, Roca Sanitario, and Geberit AG. In 2022, the top five global Metal Plumbing Fixture players accounted for 53.8% of market share in terms of revenue.
Market Segmentation:
Product Segment: Bathroom Fixtures dominate the market, holding a share of 49.2%.
Application Segment: Commercial applications lead the market with a share of 61.2%.
About : QY Research, founded in California, USA in 2007, is a leading global market research and consulting company. With over 16 years of experience and a professional research team, QYResearch provides management consulting, database and seminar services, IPO consulting, industry chain research, and customized research services. QYResearch is committed to sustainability and has collaborated with over 60,000 clients across five continents.
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