ReportsnReports.com: Plumbing Fixtures & Fittings
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- Dallas, TX (1888PressRelease) October 05, 2011 - US demand to rise 7.1% annually through 2015
US demand for plumbing fixtures and fittings is forecast to rise 7.1 percent per year to $10.9 billion in 2015, representing a dramatic turnaround from the 2005- 2010 period. Advances will be driven by an expected recovery in building construction expenditures from their depressed 2010 base. Additionally, many builders installed fewer and smaller bathrooms in homes erected during the 2007-2009 recession, and used less costly fixtures and fittings, which negatively affected demand. Going forward, builders will construct homes with more and larger bathrooms using more costly fixtures and fittings, spurring demand advances in unit and value terms. Fittings demand will be also supported by increasing consumer interest in products that reduce water use and utility bills.
Plumbing fixture demand to outpace fittings demand
Plumbing fixture demand is forecast to rise 8.7 percent annually to $5.9 billion in 2015. Rapid growth in unit demand will spur advances. Further growth will be supported by consumer interest in highend products. Homeowners will install hot tubs and spas, whirlpool bathtubs, cast polymer lavatories, and large restaurant-style sinks in their homes to enhance convenience and improve their aesthetic properties. These fixtures are often sold at higher price points than standard models.
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Demand for plumbing fittings is projected to increase 5.3 percent per year to $5 billion in 2015. Gains will be driven by rebounding building construction expenditures, as well as increasing interest in low-flow fittings that reduce water use and lower utility bills. These fittings are more costly than standard products, but can offer long-term savings. Plumbing fittings demand will lag fixtures demand, however, as imports will continue to take market share from US producers. The vast majority of these imports are from low-cost Asian suppliers.
New homes to be fastest growing market
The new residential plumbing fixtures and fittings market will see the fastest growth in demand, driven by the rise in housing completions. However, residential improvement and repair applications will remain the market leader in 2015. Rebounding improvement and repair spending will boost advances. Homeowners will renovate their kitchens and add to and increase the number of bathrooms in their homes. These projects support fixtures and fittings demand. Moreover, many homeowners will install high-end products to improve the aesthetics and increase the value of their homes.
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