Project report for Plumbing

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Introduction

The Plumbers industry in India represents contractors that install and maintain plumbing fixtures, fittings and equipment. Demand for the installation of plumbing appliances and pipe-fitting services is dependent on growth in the Indian construction market, which is generally linked to broader economic health. Plumbing is any system that conveys fluids for a wide range of applications. In India there is a growing demand for Sensor based products are the right solution in any commercial environment and the usage has increased in the past couple of months. Steady growth in urbanization in the Eastern region is further expected fuel the market demand.

Over the past five years, new Non-residential construction declined due to COVID-19 (coronavirus) related establishment closures, which stagnated operations in the commercial sector, the industry's primary market. However, this decline was offset by strong growth in residential construction, the industry's secondary market, where accommodative lending rates bolstered growth in this sector. Industry activities include work on household pipes and drains, installation of gas cooking and heating appliances and work on bathroom and toilet fixtures and venting systems. Emergency repair work represents a significant source of industry revenue. Contractors may also supply plumbing appliances and coupling products for construction projects.

Market potential & Strategy

Global Plumbing Fixtures Market size was valued at INR 55,84,5550  in 2019 and growing at a CAGR of 6.0% from 2019 to 2025. Components of plumbing fixtures include sink faucets, showerheads, bath spouts, hand showers, and valves, amongst others. Plumbing fixtures are the basic components used for various domestic as well as commercial purposes such as bathing, cleaning, washing, and others. High investment in infrastructure facilities, rise in disposable income, and growing investment in smart homes and buildings are expected to fuel the plumbing fixtures market growth. Moreover, rise in construction facilities in countries of Asia-Pacific is expected to drive market growth. Introduction of various new systems including water efficient systems are expected to create lucrative opportunities in the plumbing fixtures market.

With rising urbanization and overall growth in construction activities, homeowners and builders are widely adopting plumbing fixtures. As people are moving to urban areas, they are expected to adopt newer facilities such as luxury plumbing fixtures in their kitchens and bathrooms. Owing to the willingness of consumers to spend on various construction activities and home renovations, the market of plumbing fixtures is expected to grow at a faster pace. Bathroom renovations and willingness to spend on high quality fixtures such as showerheads and faucets, supports the overall plumbing fixtures market growth.

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