Global Residential Plumbing

Report Overview

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This study analyzes the global market for residential plumbing products, which are comprised of plumbing fixtures, faucets and taps, and plumbing 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 bars, laundry rooms, utility rooms, and washrooms)
• other fixtures (hot tubs and spas, and all other fixtures)

Study Scope

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)

Demand is also segmented by application:

• new residential
• residential improvement and repair

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 and application segment.

Demand by Region

Global demand for residential plumbing products is expected to expand 4.4% annually through 2024 to $52.2 billion. Advances will be driven by growth in housing completions as well as trends in the leading improvement and repair segment, including:

• rising incomes and government efforts enabling more residential end users in developing countries to install bathroom plumbing products in their households for the first time
• a high level of homeowner interest in renovating kitchens and adding and renovating bathrooms
• increasing use of plumbing products that can facilitate aging in place, as these products are often sold at higher price points than standard versions
• rising homeowner interest in other higher value plumbing products, such as fixtures with high visual appeal or sustainability benefits

The fastest growth will be in developing areas of the Asia/Pacific and Africa/Mideast regions, where there remains opportunity for first-time installation of the products.

Demand by Product

Global demand for residential plumbing products is forecast to rise 4.4% annually to $52.2 billion in 2024, supported by such factors as:

• increasing global residential building construction
• rising incomes and expanding access to water delivery networks in developing countries
• heightened interest in installing plumbing products that lower water consumption or facilitate aging in place, as these products are generally sold at higher price points

Plumbing fixtures, which accounted for the larger share of global residential plumbing product demand in 2019, will grow at a solid rate through 2024, accounting for a significant share of total plumbing market gains. Advances will be boosted by such factors as:

• rising incomes and government efforts enabling more residential end users in developing countries to install bathroom products such as showers, sinks, and toilets in their households for the first time
• rising use of higher value products that are visually appealing – such as cast iron bathtubs – to add to the aesthetics and value of a home

Faucets, taps, and plumbing fittings will continue to account for smaller shares due to:

• the generally lower per-unit price of these products compared to plumbing fixtures
• the durable nature of most metal plumbing fittings, faucets, and taps, which limits replacement demand

Demand by Application

Residential markets for plumbing products can be divided into two main sectors:

• new residential construction
• improvement and repair markets

Global demand for residential plumbing products is forecast to rise 4.4% annually to $52.2 billion in 2024. While demand in the larger and more resilient improvement and repair segment will continue to account for the majority of gains, demand in new applications is projected to accelerate. A projected rebound in new housing construction following pandemic related declines – particularly in developing parts of the world where not every household has historically had access to indoor plumbing – will boost opportunities for first-time installation.

Residential Improvement & Repair

Through 2024, global demand for plumbing products in residential improvement and repair applications is forecast to grow 4.3% annually to $33.7 billion and remain the dominant residential market for plumbing products:

• The Asia/Pacific region will account for the greater share of segment gains through 2024, driven primarily by government efforts in large markets such as China and India to expand water delivery and sanitation networks.
• North America and Western Europe will also post sizable gains as:
  • homeowners in both regions replace fixtures with higher value products that can raise home values
  • homeowners in the US undertake home improvement projects that involve adding showers, lavatories, and prep sinks to their homes to enhance convenience
• Significant gains are also expected in the small but rapidly growing Africa/Mideast region, where rising standards of living and government efforts are enabling more residential end users in developing countries to install bathroom plumbing products in their households for the first time.

Global demand for residential plumbing products is forecast to rise 4.4% annually through 2024 to $52.2 billion, supported by:

• growth in housing completions, particularly in the Asia/Pacific region
• 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

Although the global market dipped in 2020 due to the COVID-19 pandemic, surprising strength in the US as well as rebounds in construction industries around the world in 2021 will support long-term growth.

Asia/Pacific Will Lead Growth Due to Expanding Standards of Living

Led by China, the Asia/Pacific region will continue to drive global plumbing product market growth through 2024, accounting for half of all demand gains. Advances will be spurred by:

• increasing standards of living and rising urbanization in China, which are boosting the improvement and repair market and construction of multifamily housing – as China becomes more affluent and urbanized, demand for plumbing products in the country becomes more similar to that seen in Western Europe, with more consumers installing higher value, aesthetically pleasing products and those with “smart” capabilities
• 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

Design & Sustainability Trends Leading to Shift Toward Higher Value Plumbing Products

Design and sustainability trends will continue to drive up the average value of residential 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 fixtures and faucets and smart products that monitor themselves for leaks – 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.
• Particularly in the large US market, installations of luxury products such as hot tubs, spas, and digital, personalized showers with multiple shower heads and steam capabilities have become more common, particularly in the COVID era, when consumers were investing in their personal spaces