Slower growth for global plumbing market

The global demand for plumbing products is expected to decelerate from its heady pace during the 2003-to-2008 period, when spending grew by 7.6% a year, according to a new study by the Freedonia Group. The Cleveland-based market research firm is forecasting a more modest 3.5% annual growth rate through 2013, with the highest increases in China, India, Indonesia and Vietnam.

Growth in developed countries such as the United States, Canada, Japan, Western Europe and Australia will be limited by their economic recoveries and a slower pace of building construction, the report said.

The fixtures segment of the world plumbing products market is expected to grow at a faster rate than the fittings segment through 2013. In developed countries, increasing demand for low-consumption fixtures (e.g. motion sensor faucets) and “recreational bathing fixtures” will contribute to demands, according to the study.