Demand For Plumbing Fixtures, Fittings To Reach $10.8 Billion In 2013
A new study states U.S. demand for plumbing fixtures and fittings will grow 1.9 percent annually through 2013 to $10.8 billion. A rebounding residential construction market will drive the gains, according to The Freedonia Group, a Cleveland-based industry research firm.
Continuing interest in homes with more and larger bathrooms will promote demand for fixtures and fittings. Increasing consumer desire for products that reduce water use and utility bills will drive further advances. Gains in plumbing product shipments will lag those of demand, however, as imports expand at a rapid pace through 2013, according to the Plumbing Fixtures & Fittings study.
Demand for plumbing fixtures is forecast to advance 2.6 percent per year to $5.9 billion in 2013. Gains will be driven by rising consumer demand for such high-end products as whirlpool bathtubs and hot tubs and spas.
Demand for fittings is projected to rise 1 percent per year to $4.9 billion in 2013. The residential market will account for the majority of these gains. Gains will be derived from increasing interest in low-flow fittings that reduce water consumption and lower utility bills. However, value gains will be checked by metal prices, which are forecast to decline through 2013.
Demand for plumbing fixtures and fittings in the nonresidential building construction market will decline slightly, reflecting reduced construction spending trends in many segments. For further details, contact Corinne Gangloff at 440/684-9600 or visit www.freedoniagroup.com.