Luxury Plumbing Fixtures Market: Kitchen Segment Is Expected To Hit USD 4.6 Bn By 2024
Luxury plumbing fixtures market size is likely to exhibit exceptional growth due to the huge contribution from bathtub and shower fittings. Consumer inclination toward heated seats, sensor-operated valves, and touch-free bathrooms has been amplifying considerably over the recent years. People are outlaying higher amounts for home renovations and fixing superior showers & faucets. In accordance, bathroom segment is likely to register more than 4.5% CAGR through 2024. Also, kitchen segment will account for more than $4.6 billion in luxury plumbing fixtures industry.
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luxury plumbing fixtures market from Residential applications segment is expected to record a CAGR of around 4.9% over the forecast period. residential applications of luxury plumbing fixtures are likely to gain massive gains by 2024. Consumers are investing heavy amounts for higher-quality interiors and enhancing economic conditions will improve residential applications in luxury plumbing fixtures industry. Introduction of low-interest rate housing loans for construction of new houses will allow consumers to allocate more budget on superior home interiors.
Several regulations have been imposed on commercial and residential sectors to reduce water consumption. According to the EPA, in the U.S., indoor purposes use almost 50% of the total water consumption. This has enhanced trends for the adoption of low flow faucets in order to conserve water.
Rising demand for aesthetic appearance in kitchens & bathrooms and increased consumer spending will spur luxury plumbing fixtures market growth. Growing disposable income and developing economic conditions have been supporting business growth in recent years. People are increasingly shifting towards adopting water efficient and environmentally sustainable solutions. Escalating preference for dual flush toilets, audio/video-integrated bathrooms, and sensor faucets are likely to generate opportunities for luxury plumbing fixtures industry demand.
Elaborating on regional contribution, in 2016, Asia Pacific accounted for more than 25% of the total luxury plumbing fixtures industry. The region has been witnessing the development of commercial sector due to rising number of international investors. Moreover, North America luxury plumbing fixtures market will gain considerable proceeds due to increasing need for water-efficient products. Low flow showers & faucets are being expeditiously replaced due to water scarcity in the region. Consumers are spending substantial amounts on purchasing expensive products, which will positively impact luxury plumbing fixtures industry outlook.
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Some Point from Table of Contents:
Data Tables
TABLE 1.Global luxury plumbing fixtures industry 360° synopsis, 2013 – 2024
TABLE 2.Global luxury plumbing fixtures market estimates & forecast, 2013 - 2024, (USD Million)
TABLE 3.Global luxury plumbing fixtures industry estimates & forecast by fixtures, 2013 - 2024 (USD Million)
TABLE 4.Global luxury plumbing fixtures industry estimates & forecast by application, 2013 - 2024 (USD Million)
TABLE 5.Global luxury plumbing fixtures industry estimates & forecast by region, 2013 - 2024 (USD Million)
TABLE 6.Industry ecosystem analysis
TABLE 7.Industry impact forces
TABLE 8.Global bathroom luxury plumbing fixtures industry estimates & forecast, (USD Million), 2013 – 2024
TABLE 9.Global bathroom luxury plumbing fixtures market estimates & forecast by region, (USD Million), 2013 – 2024
TABLE 10.Global bathroom luxury plumbing fixtures industry from showers estimates & forecast, (USD Million), 2013 – 2024
TABLE 11.Global bathroom luxury plumbing fixtures market from showers estimates & forecast by region, (USD Million), 2013 – 2024
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