Plumbing Component Market – Introduction
- Plumbing components are the parts used in a plumbing system that maintain the integrity of the system. They are of different types - fittings, manifolds, pipes, valves, and more. The growth in construction industry across the globe is helping in the growth of the plumbing components market worldwide.
Key Drivers of the Plumbing Component Market
- High quality plumbing components help to protect the condition of the building and the reliability of the plumbing system. Good quality plumbing components also improve the appearance of the kitchen and bathroom and saves the cost of repair work in the future. Further, availability of different kinds of plumbing components helps in the growth of the plumbing component market worldwide.
- Growth in construction industry across the globe is helping in the expansion of the plumbing component market as well. Increasing demand for renovation of old bathrooms and kitchens in residential and commercial buildings is also driving the demand for plumbing components. Further, rapid urbanization and growth in online platforms is propelling the demand for plumbing components.
Factors Restraining the Plumbing Component Market
- Outbreak of the Covid-19 pandemic affected the growth of the plumbing component market. Construction activities stopped because of forced lockdowns and travel restrictions which decreased the demand for plumbing components. Further, the disruption of supply chains and closure of factories and manufacturing plants impacted the production of plumbing components. This hampered the growth of the plumbing component market worldwide.
Asia Pacific to Hold Leading Share of the Global Plumbing Component Market
- In terms of region, the global plumbing component market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Country and sub-region level analysis of North America features the U.S., Canada, and Rest of North America. Analysis and forecast of the plumbing component market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the market analysis and forecast of GCC, South Africa, and Rest of Middle East & Africa. The plumbing component market in South America is segmented into Brazil and Rest of South America.
- Asia Pacific dominated the global plumbing component market in 2020, due to growth in construction industry in the region. Rise in population has been driving the plumbing component market in Asia Pacific, particularly in India, China, and Japan.
- The plumbing component market in Asia Pacific is projected to expand at a rapid pace, followed by North America and Europe during the forecast period.
Key Players Operating in the Plumbing Component Market
The global plumbing component market is highly competitive, owing to the presence of several global and regional players. Major players are adopting various strategies such as regional expansion and product portfolio expansion to consolidate their position in the market.
A few key players operating in the global plumbing component market are:
- Aalberts N.V.
- Central States Industrial
- Finolex Industries Ltd.
- McWane, Inc.
- Morris Group (Acorn)
- Mueller Industries
- NupiIndustrieItaliane S.p.A.
- Reliance Worldwide Corporation Ltd.
- Turnkey Industrial Pipe & Supply Inc.
- Uponor Oyj
Global Plumbing Component Market: Research Scope
Global Plumbing Component Market, by Type
Global Plumbing Component Market, by Application
Global Plumbing Component Market, by End-user
Global Plumbing Component Market, by Distribution Channel
- E-commerce Websites
- Company Owned Websites
- Specialty Store
Global Plumbing Component Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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