Study predicts residential market will see rapid advances as demand for larger kitchens and bathrooms increases
U.S. demand for plumbing fixtures and fittings is forecast to rise 6.3 percent per year to $12.3 billion in 2019, spurred by rebounding building construction expenditures. The residential market will see the most rapid advances, as strong growth in housing completions and design trends that call for homes with more and larger bathrooms and larger kitchens will boost demand for a broad range of plumbing products.
In the nonresidential market, increasing construction of such buildings as hospitals, hotels, educational facilities and offices will promote demand for fixtures and fittings, as these structures generally have many bathrooms and extensive kitchen facilities. These and other trends are presented in Plumbing Fixtures & Fittings, a new study from The Freedonia Group, a Cleveland-based industry market research firm.
Plumbing fixtures – which accounted for the larger share of plumbing products demand in 2014 – will post faster gains in demand through 2019, reaching $6.6 billion.
“In addition to the expected rebound in building construction activity, demand for plumbing fixtures will be supported by consumer interest in higher-value products,” says analyst Matt Zielenski.
Such items as commercial-size kitchen sinks, whirlpool baths, and walk-in bathtubs like the Restore from Mansfield Plumbing can enhance convenience, while such fixtures as acrylic bathtubs and cast polymer lavatories and kitchen sinks can be installed to improve aesthetics, impressing visitors and guests and boosting property values.
Demand for plumbing fittings is projected to rise 5 percent per year to $5.7 billion in 2019.
Increases in building construction activity will support demand, as will the efforts of consumers to replace older and less-efficient faucets and showerheads with newer models that use less water. These low-flow products can not only provide savings on water bills, but also offer such features as sensor-operated touchless controls that enhance convenience and improve hygiene, key considerations for owners and managers of hospitals, schools and other buildings with heavy traffic flows. However, strong competition from inexpensive imports – particularly from China and other nations with low labor costs – will serve as a check on value demand advances.