Plumbing Accessories Market Size, Share, Growth, and Industry Analysis, By Type (Pipe Hangers, Repair Clamps, Pipe Sealants and Others), By Application (Residential, Commercial and Others) Regional Insights and Forecast to 2031

Updated On: 22 April 2024

plumbing accessories market REPORT OVERVIEW

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The global plumbing accessories market size was USD 16510 million in 2022 and is projected to touch USD 22620 million by 2028, exhibiting a CAGR of 5.4% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Plumbing components are items that are used in the installation of sanitary products in bathrooms, toilets, and kitchens of residential or non-residential structures. Plumbing components include items such as fittings, manifolds, pipelines, and valves. Fittings are elbows, adaptors, or tee joints that connect pipes to one another or to manifolds and valves. Manifolds are pieces of equipment that distribute the flow of hot and cold water across several tanks. Pipes transport water from the tank to faucets or sanitary devices. The flow of water is controlled via valves. Plumbing components installed in bathrooms or toilets and kitchens of single houses or bungalows, flats, townships, and privately held buildings are included in the residential section. Plumbing components used in kitchens, toilets, or bathrooms in hotels, malls, offices, and public areas, on the other hand, are classified as non-residential.

COVID-19 Impact: Decreased Construction Activities and Shift in Priorities Resulted in Decreased Market Share

A wide range of construction services, as well as the import and export of building materials and their manufacturing, have been impacted by the COVID-19 epidemic. Numerous building projects have also had to be temporarily halted due to the pandemic. This had caused the industry to come to a complete halt in numerous countries. Due to the majority of remodeling and new construction projects being postponed, this has ultimately had a negative impact on the worldwide plumbing components industry. Furthermore, there is a lack of raw materials because the logistics sector was also temporarily shut down. Therefore, there has been a detrimental influence on plumbing component production as well.

LATEST TRENDS

"Energy Efficiency and Sustainability to Soar Up Market Potentially"

Plumbing appliances that use less energy, such energy-efficient pumps and tank less water heaters, were becoming more and more common. These solutions contribute to lower utility costs and energy consumption. Eco-friendly raw materials and production techniques were gaining traction. Sustainable plumbing accessories were becoming more and more popular. Examples of these materials include bamboo, repurposed metal, and biodegradable polymers. Reducing the production and packaging's negative environmental effects was also a priority.

plumbing accessories market SEGMENTATION

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• By Type

Based on type the market is classified as pipe hangers, repair clamps, pipe sealants and others.

• By Application

Based on application the market is classified as residential, commercial and others.

DRIVING FACTORS

"Smart Plumbing Solutions to Reinforce Market Growth "

Plumbing systems' incorporation of smart technologies remained a prominent trend. Smart water heaters, mobile app-controlled leak monitoring devices, and smart faucets were becoming more and more common. These technologies provide greater water saving, convenience, and efficiency. Faucets, soap dispensers, and flush valves are examples of touchless or hands-free fixtures that are becoming more common, particularly in public restrooms. These fixtures improve cleanliness and stop the transmission of germs. Plumbing firms have been using AR and VR technology to let clients see products in their homes before they buy them. Customers now have more confidence in their decisions and an improved online buying experience thanks to this trend.

"Water Conservation and Advanced Filtration System to Witness a Boon in the Market Growth"

Water-efficient plumbing fixtures and accessories were in greater demand as people became more conscious of the need to conserve water and the environment. Water-saving measures such as sensor-based fixtures, dual-flush toilets, and low-flow faucets were in demand. Water filtration systems of superior grade that eliminate impurities and enhance water quality were in high demand. The need for clean, safe drinking water and worries about water contamination were the main drivers of this development.

RESTRAINING FACTOR

"Economic Factors, Regulations and Standards to Obstruct the Market Growth"

Like any other business, the plumbing accessories market has its share of restrictions and difficulties. The building and remodelling sectors are particularly vulnerable to the effects of economic downturns, which can result in a decline in the market for plumbing accessories. Consumer spending and capital investments in new plumbing projects might be impacted by economic volatility. To guarantee standards of quality and safety, the plumbing business is subject to strict regulations. Manufacturers may find it expensive and time-consuming to comply with these restrictions, which could impede the development of new products. As a result, the economic factors, regulations and standards may stifle plumbing accessories market growth.

plumbing accessories market REGIONAL INSIGHTS

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"Asia Pacific Region to Dominate the Market owing to High Demand in Construction and Infrastructural Development"

The Asia Pacific region is predicted to have a large plumbing accessories market share. Asia's emerging economies—China, India, and the nations of Southeast Asia—have seen a sharp increase in infrastructure development and urbanization. The need for plumbing accessories in this area is fueled by the development of new structures and significant urban projects. One factor driving the need for plumbing accessories is the growing middle class population. Furthermore, the need for plumbing accessories is fueled by the remodeling of historic structures and the integration of modern plumbing system technologies.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The market is highly competitive, with both international and domestic players. Major players are involved in the launch of new and improved products, collaborations, mergers and acquisitions, joint ventures, and other tactics. The research is an in-depth examination of a list of market participants who promote market growth. The data is a compilation of the most recent manufacturing industry trends, mergers and acquisitions, market research, and technology breakthroughs. To comprehend market share, product growth, revenue growth, and other variables over the forecast period, additional criteria such as regional and segmental analysis are considered.

List of Market Players Profiled

• The Plumber's Choice (U.S.)
• Oatey (India)
• Elmdor (U.S.)
• Weld-On (U.S.)
• Jones Stephens (U.S.)
• Woodford (U.K)
• HOLDRITE (U.S.) 
• Hayes (U.K)
• Christy's (U.K).

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of a number of factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. This report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching of recent industry developments,  deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.