{"id":592998,"date":"2022-03-25T08:34:02","date_gmt":"2022-03-25T08:34:02","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=592998"},"modified":"2022-03-25T08:34:02","modified_gmt":"2022-03-25T08:34:02","slug":"north-america-plumbing-fixtures-market-2022-size-growth-covid19-analysis-leading-company-analysis-share-trends-demand-regional-overview-and-forecast-to-2028-grand-view-research-inc","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/north-america-plumbing-fixtures-market-2022-size-growth-covid19-analysis-leading-company-analysis-share-trends-demand-regional-overview-and-forecast-to-2028-grand-view-research-inc_592998.html","title":{"rendered":"North America Plumbing Fixtures Market 2022 Size, Growth, COVID-19 Analysis, Leading Company Analysis, Share, Trends, Demand, Regional Overview, and Forecast To 2028 | Grand View Research, Inc."},"content":{"rendered":"
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\u201cGrand View Research, Inc. \u2013 Market Research And Consulting.\u201d<\/div>\n<\/div>\n<\/div>\n
According to a new report published by Grand View Research, the global COVID-19 pandemic has significantly increased the awareness among people regarding self-hygiene and maintaining a clean environment. Moreover, frequently washing hands with soap has been identified as a critical preventive measure by healthcare organizations around the world. This has had a positive impact on the growth of bathroom fixtures and the trend is likely to continue in the months to come.<\/div>\n

The North America plumbing fixtures market<\/a> size is anticipated to reach USD 40.00 billion by 2028<\/strong>, registering a CAGR of 7.5%<\/strong> over the forecast period, according to a new report by Grand View Research, Inc.<\/strong> The market growth is primarily attributed to the rising number of home remodeling and improvement projects, particularly bathrooms and kitchens, in the region. The emergence of the smart home concept has spurred the demand for advanced, energy-efficient, and water-saving plumbing fixtures, further driving the market.<\/p>\n

Growing home values have doubled homeowners’ equity in five years till 2019, indicating a surge in spending capacity on home improvement<\/strong>. According to the National Association of Realtors (NAR), existing-home sales rose by 10.5% y-o-y to a seasonally adjusted annual rate of 6 million units in August 2020. The global COVID-19 pandemic has significantly increased the awareness among people regarding self-hygiene and maintaining a clean environment. This has had a positive impact on the demand for bathroom fixtures and the trend is likely to continue in the months to come.<\/p>\n

The growth of the remodeling industry<\/strong> across countries in North America is also indicating a surge in demand for home furnishing and fittings, which is expected to drive the market. According to the Home Improvement Research Institute (HIRI), home improvement spending by Americans was estimated to reach USD 439.9 billion in 2020, registering a rise of 8.7%. Moreover, homeowners have been investing in lifestyle-enhancing projects.<\/p>\n

The growing number of commercial construction projects<\/strong>, particularly in the hospitality sector, is also driving the product demand. 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 these franchise-company pipelines are at all-time highs in Canada. InterContinental Hotels Group (IHG) follows with 56 projects\/5,402 rooms. Such developments are likely to bode well for market growth.<\/p>\n

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Browse full report with Table of Content @ <\/strong>https:\/\/www.grandviewresearch.com\/industry-analysis\/north-america-plumbing-fixtures-market<\/a><\/p>\n

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North America Plumbing Fixtures Market Report Highlights<\/strong><\/p>\n