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2019 – 2024 | North American Luxury Plumbing Fixtures Market is estimated to exceed $7 Billion Revenue

Author : Rahul Varpe | Published Date : 2019-09-04 

APAC is one of the most lucrative regions stimulating luxury plumbing fixtures market, having held 25% of the overall share in 2016. Subject to increasing consumer disposable incomes in India and China, in tandem with the fact that most luxury plumbing fixtures manufacturing hubs are located in these regions, APAC luxury plumbing fixtures industry will witness massive expansion over 2017-2024.

The globally rising demand for aesthetically impressive as well as water efficient and environmentally sustainable plumbing fixtures have indeed acted as a major driving force for this market. Fueled by the extensive requirement for fixtures in luxurious modern homes, luxury plumbing fixtures market is likely to attain major gains over 2017-2024.

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North America has been projected to be one of the leading consumers for luxury plumbing fixtures industry. Driven by extensive spending on construction, North American luxury plumbing fixtures market is estimated to exceed USD 7 billion by 2024. While demand for jacuzzies and whirlpools are increasing across the region, water conservation is topping the list of environmental protection organizations which is encouraging the luxury plumbing fixtures industry players to design and promote the adoption of water efficient products.

Luxury plumbing fixtures market is fast emerging to become a niche industry that is incorporating artistic sensitivity with practical design to cater to a growing populace of consumers who are looking to upgrade their homes or business spaces not only by concentrating on decorating the halls, bedrooms or reception, areas but also the bathrooms and kitchens.

Luxury plumbing fixtures market is also expected to be propelled by the demands of deluxe toilets with heated seats and voice controlled operations. Heated floors and towel racks are also becoming a part of the fast-evolving fixture landscape of luxury plumbing fixtures industry. Driven by a plethora of such product developments and their rapidly increasing sales, in 2016, luxury plumbing fixtures industry size was pegged at USD 15 billion, with lucrative growth projections set for the period 2017-2024.

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Luxury Plumbing Fixtures Industry, by Fixtures:

  • Bathroom
  • Kitchen

Luxury Plumbing Fixtures Industry, by Application:

  • Residential
  • Commercial

Kitchens, which have become a central showpiece in modern homes have accounted for 15% of the shares generated by luxury plumbing fixtures market in 2016. The kitchen sink and faucet, being among the most used fixtures in the kitchen, have demanded major attention from luxury plumbing fixtures industry leaders like ROHL, that has recently redefined the design of kitchen faucets as the water appliance.

The growing preference for smart homes coupled with the rising affluence among consumers has been majorly stimulating luxury plumbing fixtures market. Given that state-of-the-art plumbing fixtures in bathrooms and kitchens can add a different kind of class to the whole house by highlighting the smallest details that had often been overlooked in the past, the popularity of these fixtures is not exactly surprising.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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