Luxury plumbing fixtures are designer or high-end products connected to the plumbing system. They are used to accentuate the overall bathroom and kitchen and often indicate status. The global luxury plumbing fixtures market is expected to reach $24,646 million by 2022, registering a CAGR of 4.9% during the forecast period.
The luxury plumbing fixtures market growth is driven by the growth in urbanization, improvement in economic conditions and growth in disposable income, changing lifestyle and behavior of consumers, and adoption of water-efficient fixtures. In addition, untapped Asian and Africa markets are expected to spur the global luxury plumbing fixtures market. However, high cost of raw materials is likely to hamper the luxury plumbing fixtures market growth.
The rise in disposable income has elevated the consumer lifestyle and shifted their preference towards luxury bathroom and kitchen fixtures. In addition, upgradation in product designing, styling and functionality fuels the global luxury plumbing fixtures market growth.
The global luxury plumbing fixtures market is segmented on the basis of type, end user and geography. Based on fixture type, the luxury plumbing fixtures industry is broadly divided into bathroom fixtures and kitchen fixtures. The bathroom fixtures include bathtubs, showerheads, toilets and others while kitchen fixtures include sinks and faucets. Government initiatives to reduce water consumption by introducing dual-flush units has resulted into high adoption of eco-friendly toilets and showerheads. On the basis of end user, the market is segmented into residential and non-residential sector. With rising disposable income, homeowners are witnessed adopting luxurious faucets, sinks and showerheads that entices them to enjoy a luxurious bath. Thus, residential sector was dominant in 2015 and is likely to grow at the highest rate during the forecast period.
The luxury plumbing fixtures market is analyzed across four regions-North America, Europe, Asia-Pacific, and LAMEA. Europe is expected to dominate the global market during the analysis period due to the presence of large number of established manufacturers of luxury plumbing fixtures in Italy, France, and UK. The market in Asia-Pacific is expected to grow at a significant rate due to increase in number of high net worth individuals and growing tourism industry.
The report includes comprehensive analysis of the key players in this market such as Bradley Corporation, GROHE, Little Giant, Kohler, Moen, Delta, Toto Ltd., Gerber, American Standard, and Sterling Faucet Company.
The other prominent players in the market include Culnat, Natphil Inc., Water Matrix, Aquabrass, Dahl Brothers (Canada) Ltd, Fiberez Bathware, The Noble Co., Matco-Norca, Rada Mechanical Products Ltd, and Falcon Waterfree Technologies.
KEY BENEFITS FOR STAKEHOLDERS
Luxury Plumbing Fixtures Market Key Segmentation:
By End Use
OTHER PLAYERS IN THE MARKET
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