Demand For Plumbing Products To Grow 3% Per Year Through 2008
The demand for plumbing fixtures should reach $4.6 billion in 2008, supported by higher value fixtures such as whirlpool bathtubs and hot tubs. The demand for plumbing fittings is expected to exceed $5 billion in 2008, driven by above-average growth in lavatory fittings. Kitchen and other sink fittings will benefit from kitchen renovations.
While residential markets for plumbing fixtures and fittings accounted for more than 65% of total demand in 2003, the nonresidential and nonbuilding markets will provide better growth prospects through 2008. The use of higher-end fixtures and fittings in nonbuilding applications such as recreational vehicles and boats will contribute to this growth.
Income gains and increased expenditures in nonresidential construction in the South and West are expected to result in a higher growth rate in demand for plumbing fixtures and fittings in those regions, surpassing the national average.
The Freedonia Group study titled, “Plumbing Fixtures & Fittings” was published in June 2004 and is available for $4,100 from the company. For more information, call Corinne Gangloff at 440-684-9600 or visit www.freedoniagroup.com.