Plumbing Fittings & Fixtures Market to Expand Through 2024 D
CLEVELAND, April 7, 2020 /PRNewswire/ -- While the COVID-19 coronavirus pandemic is expected reduce demand for plumbing fixtures and fittings in 2020 and 2021, the Freedonia Group expects the US market to return to pre-virus levels of growth by 2024, supported by residential design trends favoring multiple bathrooms and larger kitchens in both new construction and homeowner renovations. Increasing use of high-value products – such as fixtures with unique spray patterns, touch or hands-free activation, and water efficiency features – will bolster gains. Furthermore, the aging US population will provide growth opportunities as more consumers install products that are easier to use in their homes.
More bathrooms and larger kitchens mean more intensive use of plumbing fixtures and fittings
US homeowners desire multiple bathrooms per house due to their convenience and their ability to boost home values:
- Families with children of all ages value the convenience of multiple bathrooms.
- Older homeowners looking to age-in-place install bathrooms on all floors to reduce the need to climb stairs.
As a result, the number of bathrooms per residence has been trending up – both in new construction and in existing structures – spurring increases in the number of toilets, lavatories, and bathtubs and shower stalls and surrounds per residence. Additionally, design trends favoring multiple sinks, such as his-and-her master bathrooms, increase the number of fixtures per bathroom.
Rising use of products that conserve water, facilitate aging in place will benefit sales
Persistent concerns about drought and water shortages in the US have spurred federal, state, and local governments to promote use of plumbing products that reduce water consumption, such as toilets that use less water per flush and showerheads with low flow rates:
- Going forward, governments and consumers will continue to opt for plumbing products that conserve water and reduce stress on water supply networks without sacrificing product performance.
- These fixtures and fittings are often sold at higher price points than standard products, boosting value growth.
The aging US population also presents opportunities. For example, such products as toilets with elevated seats, walk-in bathtubs, step-free shower surrounds, and touchless faucets and showerheads are seeing increasing adoption due to their ease of use by senior citizens, disabled individuals, and those with mobility issues.
Want to learn more?
See Plumbing Fittings & Fixtures, now available from The Freedonia Group. This study analyzes US demand for plumbing fixtures and fittings by product type, material (for fixtures), market, and region and subregion. Historical data for 2009, 2014, and 2019 and forecasts for 2024 and 2029 are presented in current dollars (which are not adjusted for inflation) and volume terms (units). Although slower market growth is expected due to the short-term impacts of the COVID-19 pandemic, trends discussed in the study – particularly those regarding individual plumbing fixture and fitting demand – remain valid factors impacting fixture and fitting demand and should still be taken into account when planning.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group