A new study states U.S. demand for plumbing fixtures and fittings will grow 1.9 percent annually through 2013; a rebounding residential construction market will drive the gains.
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 visitwww.freedoniagroup.com.