COMMACK, N.Y. — Sales of plumbing fixtures and fittings will continue their historical strong and steady growth rate of between 3% and 4% per year, according to a new study by market research firm Business Trend Analysts here.
U. S. manufacturers of plumbing fixtures and fittings posted fairly stable sales growth from 1998 to 2004. During that period, U.S. manufacturers' sales of plumbing fixtures grew at an average annual rate of 4%, while fittings-rose at an average annual rate of 2.9%.
In 2005, U.S. manufacturers' sales of plumbing fixtures and fittings are expected to reach $8.7 billion, according to BTA estimates. BTA projects that sales of plumbing fixtures and fittings will rise to $11.2 billion in 2013, reflecting average annual growth of 3.4% from their 2003 level.
BTA published its forecast in its report, "The 2005/2006 Outlook for the U.S. Plumbing Fixtures and Fittings Industry" (with long-term forecasts through 2013).
Plumbing fixture sales advanced by 4.3% in 2004, well ahead of the 1.8% growth rate in the plumbing fittings segment. In the fixture category, the strongest sales gains were turned in by wash sinks, service sinks and related products (13.4%); shower receptors that were sold separately (11.6%); and whirlpool baths (7.1%). Sink fittings and anti-scald valves are the hot performersin the fittings segment.
Fiberglass gel coat products now account for roughly 63% of all bathtubs sold, up from less than 50% at the beginning of the 1990s. Vitreous china has been the No. 1 material in the lavatory segment, although cultured marble products are challenging it. In kitchen sinks, stainless steel continues to capture the bulk of unit sales.
From 2003 to 2013, BTA projects that U.S. manufacturers' sales of plumbing fixtures will grow at an average annual rate of 3.2% to reach $4.99 billion in the latter year.
The most active sector of the fixtures market has been the shower receptor sector. In 2004, U.S. manufacturers' sales of shower stalls, including shower receptors, increased by 6.1% to $249.7 million. BTA estimates that sales will climb by 4.6% to reach $261.3 million in 2005.
From 1994 to 2004, the market for plumbing fittings and brass goods grew at an average annual rate of 3.4%. One reason this market has been so strong has been the continuous growth in the new construction and remodeling and replacement markets. Do-ityourselfers, coupled with more homeowners expanding their bathrooms with luxury plumbing fixtures, has resulted in high demand for fittings and brass goods. In addition, manufacturers have been offering wider selections of products and higher-quality finishes over the past few years, which has resulted in an increase in sales. Following a 1.8% increase in 2004, U.S. manufacturers' sales of fittings and brass goods will increase by an estimated 5.2% to total $4.7 billion in 2005.
BTA projects that U.S. manufacturers' sales of plumbing fittings and brass goods will grow at an average annual rate of 3.6% from 2003 to 2013. This will bring the market to $6.24 billion at the end of that period. The strongest sales growth in this market is expected to be in the sink fittings segment, which will be a direct result of more homeowners remodeling their bathrooms and kitchens as the economy recovers from its recent downturn.
With more and more legislation being passed regarding anti-scald valves, these fittings are becoming the norm for homes and other buildings. As a result, anti-scald bath and shower valves have exhibited impressive sales growth. From 2002 to 2006, U.S. manufacturers' sales should increase at an average annual rate of 5.5% to reach $434.9 million in the latter year. To show just how much this market has grown, it should be noted that in 1992 sales amounted to only $48.9 million. It is estimated that this segment will account for 9.1% of the market for fittings and brass goods in 2006.
The complete 680-page report is available from BTA for $1,995, with computer discs and CD-ROM versions available at a higher price. The report may be ordered from BTA at 800/866-4648 or at [email protected].