NEW YORK, Dec. 1, 2015 /PRNewswire/ -- Study coverage
This report presents historical demand data (2004, 2009 and 2014) plus forecasts (2019 and 2024) by material, product, market and US region. The study also assesses market environment factors, analyzes industry structure, evaluates company market share and profiles 30 US industry players such as Moen (Fortune Brands), American Standard, Kohler and Masco.
US demand to rise 6.3% annually through 2019
US demand for plumbing fixtures and fittings is forecast to rise 6.3 percent per year to $12.3 billion in 2019, spurred by rebounding building construction expenditures. The residential market will see the most rapid advances, as strong growth in housing completions and design trends that call for homes with more and larger bathrooms and larger kitchens will boost demand for a broad range of plumbing products. In the nonresidential market, increasing construction of such buildings as hospitals, hotels, educational facilities, and offices will promote demand for fixtures and fittings, as these structures often have many bathrooms and extensive kitchen facilities.
Bathroom renovations, water use concerns to drive gains
Demand for plumbing fixtures and fittings will also be boosted by strong consumer interest in bathroom renovation projects. Homeowners looking to enhance convenience will install additional bathrooms, many of which will have senior-friendly products, such as walk-in bathtubs and showers with integrated seating, or such fixtures as touchless faucets and showerheads. Furthermore, owners and managers of such facilities as hotels, resorts, casinos, and other leisurerelated businesses will renovate bathrooms to accommodate older Americans.
In both the residential and nonresidential markets, concerns about reducing water consumption will spur home and business owners to replace older, less-efficient fixtures and fittings with newer models that use less water. The prolonged period of drought in California and a growing awareness of water scarcity issues in many parts of the US will spur ecologically minded consumers to replace such products as toilet closet bowls and flush tanks, urinals, showerheads, faucets, and other fittings with low-flow products. Not only do newer fixtures and fittings utilize less water, they can also lower utility bills.
Dominant plumbing fixtures segment to outpace fittings
Plumbing fixtures -- which accounted for the larger share of plumbing products demand in 2014 -- will see faster gains in demand going forward. In addition to the expected rebound in building construction activity, demand for plumbing fixtures will be supported by consumer interest in higher-value products. Such items as commercial-size kitchen sinks, whirlpool baths, and walk-in bathtubs can enhance convenience, while such fixtures as acrylic bathtubs and cast polymer lavatories and kitchen sinks can be installed to improve aesthetics, impressing visitors and guests and boosting property values.
Demand for plumbing fittings will be aided by gains in building construction activity, and by the efforts of consumers to replace older and less-efficient faucets and showerheads with newer models that use less water. These low-flow products can not only provide savings on water bills, but also offer such features as sensor-operated touchless controls that enhance convenience and improve hygiene, key considerations for owners and managers of hospitals, schools, and other buildings with heavy traffic flows. However, strong competition from inexpensive imports -- particularly from China and other nations with low labor costs -- will serve as a check on value demand advances.
Read the full report: http://www.reportlinker.com/p03431562-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: email@example.com
Intl: +1 339-368-6001