24 Plumbing Industry Trends And Statistics To Watch In 2024 6. plumbing industry encompasses substantial growth expected in the forecast period 2019 to 2029. as per the us bureau of labor statistics, the plumbing industry is expected to grow at a rate of 4% from 2019 to 2029. 7. the job outlook of plumbers within the period 2020 to 2030. Here are some stats on smart plumbing fixtures: smart plumbing fixtures will be valued at $6.6 billion by the year 2027. the smart toilet market is expected to reach 12.9 billion by 2026. the smart bathroom market size is expected to grow at a compound annual growth rate (cagr) of 10.25% from 2020 to 2027.
24 Plumbing Industry Trends And Statistics To Watch In 2024 New technology, including artificial intelligence, will continue to impact the industry.”. in 2024, contractors can expect the continued growth for eco friendly plumbing products and practices, such as low flow fixtures, greywater recycling systems and water efficient appliances, according to regis saragosti, ceo of sfa saniflo north america. 10. labor shortage challenges a growing plumbing industry. the plumbing job outlook remains promising. the bureau of labor statistics recently reported an average expected job growth of 14% over the next 10 years for plumbers and related occupations, compared with only 5% for other industries. Another one of the top plumbing industry trends is the skilled labor and materials shortage. in today’s challenging economy, there’s been a shortage of workers and a shortage of building materials—resulting in higher prices for customers. in fact, the shortage of plumbers cost the us economy $33 billion in 2022 and is expected to escalate. The construction industry has been experiencing a labor shortage for a while now, putting skilled plumbers in high demand as contractors struggle to fulfill job demands. the plumber job outlook is estimated to increase by 5% over the next 10 years. this shows the importance of building the plumbing workforce back up through apprenticeships.
6 Upcoming 2024 Plumbing Industry Trends Another one of the top plumbing industry trends is the skilled labor and materials shortage. in today’s challenging economy, there’s been a shortage of workers and a shortage of building materials—resulting in higher prices for customers. in fact, the shortage of plumbers cost the us economy $33 billion in 2022 and is expected to escalate. The construction industry has been experiencing a labor shortage for a while now, putting skilled plumbers in high demand as contractors struggle to fulfill job demands. the plumber job outlook is estimated to increase by 5% over the next 10 years. this shows the importance of building the plumbing workforce back up through apprenticeships. The plumbing industry market size, measured by revenue, was $126.40 billion in 2023. beyond professional plumbing services, the diy home improvement market size is projected to reach $800.29 billion in 2024. a subset of the plumbing industry is plumbing fixtures with a marketing size in north america valued at $22.40 billion. According to a study by statista, the smart home market worldwide is projected to generate a revenue of us$154.4bn in 2024. iot enabled plumbing systems: internet of things (iot) technology is transforming traditional plumbing systems into intelligent networks. iot enabled devices such as smart faucets, leak detectors, and water heaters are.
24 Plumbing Industry Trends And Statistics To Watch In 2024 The plumbing industry market size, measured by revenue, was $126.40 billion in 2023. beyond professional plumbing services, the diy home improvement market size is projected to reach $800.29 billion in 2024. a subset of the plumbing industry is plumbing fixtures with a marketing size in north america valued at $22.40 billion. According to a study by statista, the smart home market worldwide is projected to generate a revenue of us$154.4bn in 2024. iot enabled plumbing systems: internet of things (iot) technology is transforming traditional plumbing systems into intelligent networks. iot enabled devices such as smart faucets, leak detectors, and water heaters are.
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