by Peter Kusnic
February 22, 2021
When the COVID-19 pandemic struck in March 2020, most office buildings, education facilities, restaurants, bars, and other commercial properties emptied, leaving operators with the task of figuring out how to make their buildings pandemic-safe in time for their eventual reopening. In most of these buildings, a common focus of retrofit efforts was the bathroom. For instance:
In 2020, demand for plumbing products in commercial renovations helped mitigate the severe losses seen in new construction. In 2021, as more people go back to work and the pandemic continues to affect daily life, more commercial buildings will undergo such renovations.
In the wake of the pandemic, use of smart technologies in public restrooms is expected to grow, not only to improve the operational efficiencies of commercial buildings – including their plumbing systems – but also to ensure these notoriously icky spaces remain as hygienic and sanitary as possible in order to prevent the spread of disease.
Even before the pandemic struck, investment in smart technology was increasing in the commercial building sector. For example:
Going forward, use of smart technology in plumbing products will continue to rise from a small base, boosting market value. However, as the high cost of these products is prohibitive for the vast majority of global end users, penetration is expected to remain limited.
Global nonresidential demand for plumbing products is forecast to reach $21 billion in 2024, according to a new Freedonia Group analysis. Despite weakened global nonresidential building construction activity and a subsequent decline in demand in 2020 due to the COVID-19 pandemic, the market is expected to rebound in 2021 as case numbers fall, economies reopen, and building activity nearly returns to pre-pandemic levels. Through 2024, gains will be supported by:
Through 2024, the Asia/Pacific region will continue to account for the largest share of nonresidential plumbing products demand, supported by:
Meanwhile, in mature markets, new construction and improvement trends will affect the market:
Want to Learn More?
Global Nonresidential Plumbing Products, a spin-off of Global Plumbing Products, is now available from The Freedonia Group.
About the Author:
Peter Kusnic is a Content Writer with The Freedonia Group, where he researches and writes studies focused on an array of industries.
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