NEWS
9
Worldwide
plumbing fixture
sales set to soar
Increase in disposable income of consumers,
growth in urbanisation, changing lifestyle
patterns, and the rise in standard of living
will all be behind a 6% growth per year in the
sales of plumbing fixtures around the world.
By Warren Robertson
This is according to a new report published by Allied Market
Research. This growth is also expected to be fuelled by a
recovery in the construction market in India and China, leading
to an increased need for plumbing fixtures.
Various advancements in plumbing technology and the introduction
of water-efficient plumbing, such as flow faucets and sensors as
well as dual flush toilets, are also expected to provide numerous
opportunities in the plumbing fixtures market.
Additional insights provided by the report were that:
• In 2016, the shower-heads segment accounted for the
maximum revenue and is projected to grow at a notable
CAGR of 5.3% during the forecast period.
• The residential segment accounted for 67.7% in the global
plumbing fixtures market.
“With rising urbanisation and overall growth in construction activities,
homeowners and builders are widely adopting plumbing fixtures.
According to the United Nations’ World Urbanisation Prospects – 2014
revision, around 54% of the world population lived in urban areas and
another 2.5 billion will be added by 2050. As people are moving to
urban areas, they are expected to adopt newer facilities such as luxury
plumbing fixtures in their kitchens and bathrooms,” the report stated. PA
January 2019 Volume 25 I Number 1
NEWS
9