Global Demand for Plumbing Supplies Expected to Rise
The global demand for plumbing fixtures and supplies is going to rise. This is according to the report that looks into the performance of developing markets. With the improvement of various markets, the number of construction projects are also about to increase, which means plumbing supplies will also be in much higher demand.
The United States will also have an increased amount of demand when it comes to residential constructions. This is set to drive the demand for plumbing supplies up as compared to what it was in previous years.
Here is a part of the article that appeared on the Sacramento Bee, “Worldwide demand for plumbing fixtures and fittings is expected to increase 6.2 percent per year to almost $80 billion in 2016. Growth will accelerate due to improved market conditions in the key developed markets, especially in the United States where construction spending will register double digit gains. Among the developed nations, the US will have the largest residential plumbing market, as the country experienced the global recession earlier than most other countries and has had more time to recover. Among the developing nations, China will again be the largest market due to its vast population and increasing per capita income. “
If you would like to read the full article on the report you can click here.
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