North America Plumbing Fixtures (Bathroom, Kitchen Fixtures) Market Report 2021-2028 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “North American Sanitary Fixtures Market 2021-2028” report has been added to ResearchAndMarkets.com’s offer.

The market size of the North American sanitary fixtures is expected to reach USD 40.00 billion by 2028, at a CAGR of 7.5%.

The market growth is mainly attributed to the increasing number of residential renovation and improvement projects, especially bathrooms and kitchens, in the region. The emergence of the smart home concept has fueled the demand for advanced, energy-efficient and water-saving sanitary facilities, further boosting the market.

As a result of rising home values, homeowners’ equity has doubled in five years to 2019, indicating an increase in spending capacity for home improvement. According to the National Association of Realtors (NAR), existing home sales grew 10.5% yoy to reach a seasonally adjusted annual rate of 6 million units in August 2020. The global COVID-19 pandemic has raised awareness among people regarding self-selling significantly enlarged. hygiene and maintaining a clean environment. This has had a positive effect on the demand for sanitary ware and the trend is likely to continue in the coming months.

The growth of the remodeling industry in countries in North America also points to a surge in demand for home furnishings and accessories, which is expected to drive the market. According to the Home Improvement Research Institute (HIRI), home improvement spending by Americans was estimated at $439.9 billion in 2020, an increase of 8.7%. In addition, homeowners have invested in projects that improve lifestyles.

The growing number of commercial construction projects, especially in the hospitality industry, is also driving demand for products. According to Hotelier Magazine, the top franchise companies in Canada’s construction pipeline in May 2020 were Marriott International with 67 projects/8,430 rooms and Hilton Worldwide with 65 projects/7,738 rooms.

Both franchise pipelines are at historic highs in Canada. InterContinental Hotels Group (IHG) follows with 56 projects/5,402 rooms. Such developments are likely to bode well for market growth.

Highlights of the North American Plumbing Market Report:

  • Kitchen fixture expected to be the fastest growing product segment over the forecast period

  • The residential segment is expected to register the second fastest CAGR of 7.2% from 2021 to 2028

  • Companies in the market focus on strategies, such as mergers and acquisitions, gain market share and increase their service footprint

  • In July 2020, Moen Inc. acquired. a majority stake in Flo Technologies, one of the leading smart water management and leak detection companies in the US

  • This new ownership interest is an evolution of the two companies working together to provide best-in-class water security and management solutions for the entire home

Market dynamics

Driver Impact Analysis

  • Rise In Home Remodeling Projects

  • Increasing construction in residential and commercial sectors

  • Emergence of Touchless Luminaires with Popularity of Smart Home Concept

Constraint Effect Analysis

  • Increasing use of tissue paper and lack of indoor sanitary facilities in households

Business environment analysis

  • Sector Analysis: Porter’s Five Forces

  • roadmap

  • Market Access Strategies

  • Impact of Covid-19 on the plumbing fixture market

Named companies

  • Dornbracht

  • House of Rohl

  • Fantini USA Inc.

  • Waterworks

  • Duration

  • Hansgrohe

  • axor

  • GROHE AMERICA, INC.

  • Lefroy Brooks

  • Delta Crane Company

For more information about this report, visit https://www.researchandmarkets.com/r/vtpmo7

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