Report Overview
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This study analyzes the global market for plumbing products, which are comprised of plumbing fixtures and fittings:
Plumbing fixtures covered in this study include:
bathtub and shower fixtures (bathtubs, whirlpool bathtubs, and shower stalls and receptors)
toilet fixtures (water closet bowls and flush tanks, urinals, bidets)
sink fixtures (lavatories, kitchen sinks, and other sinks – such as those installed in boats RVs, bars, laundry rooms, utility rooms, and washrooms)
other fixtures (hot tubs and spas, bottle filling stations, drinking fountains, wash fountains, patient care stations, emergency wash stations, portable chemical toilets, and all other fixtures)
Scope and Summary
Faucets and taps covered in this study include:
bathroom sink faucets
bathtub and shower faucets
kitchen sink and other faucets including bar faucets, sediment and sill (i.e., outdoor) faucets, and faucets for laundry and other utility sinks
Plumbing fittings covered in this study include:
bathtub and shower fittings, such as antiscald valves and miscellaneous hardware used in bathtubs and showers
other plumbing fittings, including:
miscellaneous sink fittings (sink strainers, pot fillers, spray attachments)
lawn and hose fittings (spray guns, sprinkler fittings, flow-switching attachments)
flush valves and controls (toilet levers, flappers, float/tank balls, sealant rings, seals, seat discs, flapper chains, repair valves)
drains and overflows
P- and S-traps
all other plumbing fittings, including escutcheons; mechanical connecting fittings for iron pipes; compression fittings; fire sprinkler heads and related components; hangers, brackets, and supports; spa pumps; plugs and caps; strainers; drain outlets; drain gates; and fittings not mentioned elsewhere)
In addition, major manufacturers of plumbing products are identified. Historical data for 2009, 2014, and 2019 and forecasts to 2024 and 2029 are provided in current dollars (which are not adjusted to account for inflation) for each major product segment. Historical and forecast demand by market (residential construction, nonresidential construction, and transportation equipment such as RVs and watercraft) is provided in current dollars.
VIDEO
Global demand for plumbing products is forecast to rise 3.9% annually through 2024 to $74.4 billion. Despite weakened global 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:
growth in housing completions and nonresidential building construction, particularly in the Asia/Pacific region, by far the world’s largest market
rising nonresidential remodeling as commercial and retail spaces retrofit for COVID-19 safety with touchless fixtures, faucets, and other products
rising incomes and expanding access to water delivery and sanitation networks in developing markets
home improvement trends in developed markets calling for bathroom additions, kitchen expansions, and higher value fixtures to boost home value
government mandates or incentives in many countries driving adoption of water-efficient fixtures, which typically cost more than other types
Asia/Pacific Will Account for 57% of Plumbing Product Market Gains
The Asia/Pacific region will continue to drive global plumbing product market growth through 2024, accounting for 57% of demand gains. Advances will be driven by:
an increase in regional homebuilding activity and healthy growth in nonresidential building construction, particularly in China, which alone is expected to account for nearly half of the plumbing product gains in the Asia/Pacific market
rising incomes and government efforts to improve access to water delivery and sanitation networks, such as the Swachh Bharat initiative in India, which will continue to promote rapid plumbing market growth in the country
Bathroom Fixture & Faucet Demand Will Be Bolstered by Housing & Water Initiatives
Though healthy growth is expected in all product categories, demand will be boosted by clean water initiatives in developing countries enabling more households to install basic plumbing products – such as toilets, lavatories, and bathroom faucets – for the first time. Additionally, government efforts to address substandard housing in large countries such as Brazil and Turkey will bolster demand as more of the population gains access to housing connected to water delivery and sanitation networks.
Design & Sustainability Trends Will Help Boost Global Market Value for Plumbing Products
Design and sustainability trends will continue to drive up the average value of plumbing products sold. For instance, in developed markets, design trends calling for bathroom additions and kitchen expansions are boosting the number of plumbing products installed per household, with many of these being higher value, more aesthetically appealing products selected to boost home value. Additionally:
Global efforts to reduce water consumption will continue to promote installations of water-efficient fixtures – such as low-flow toilets, faucets, and showerheads – which typically cost more than average units.
Aging populations in countries such as the US and Japan are driving demand for higher value products – such as walk-in bathtubs, personal showers, and sensor-controlled showerheads – that facilitate aging in place.