Table of Contents
Executive Summary
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- Impact of COVID-19 on plumbing products
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- Figure 1: Short, medium and long term impact of COVID-19 on plumbing products, 13th October 2020
- The market
- Market size and forecast
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- Figure 2: Market size for plumbing products, 2015-2025 (prepared on 13th October 2020)
- Commercial heating
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- Figure 3: The commercial heating products market, 2015-24 (prepared on 13th October 2020)
- Residential heating
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- Figure 4: The residential heating products market, 2015-24 (prepared on 13th October 2020)
- Bathrooms
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- Figure 5: The bathroom products market, 2015-24 (prepared on 13th October 2020)
- Kitchens
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- Figure 6: The kitchen plumbing product market, 2015-24 (prepared on 13th October 2020)
- Companies and brands
- Fragmented product base
- Fragmented distribution channel
COVID-19 and plumbing products
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- Impact on the market
- Commercial heating
- Residential heating
- Bathrooms
- Kitchens
- Pipes
- Impact on consumers
- Fluctuations in home-moving activity
- Big ticket items
- Office applications challenged
- Demand from the retail sector affected
- Short-term issues for the hospitality sector
- Impact on companies and brands
- Is this an opportunity for consolidation?
Issues and Insights
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- COVID-19 to cause medium/long-term market changes
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- Figure 7: Hotel room occupancy levels in England, 2019-July 2020
- What can be done about zombies?
The Market – Key Takeaways
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- COVID-19 disruption
- Many different markets
- Heating subject to different considerations
Market Size and Forecast
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- Major disruption in 2020 from COVID-19
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- Figure 8: Short, medium and long term impact of COVID-19 on plumbing products, 13th October 2020
- Lockdown
- Re-emergence
- Recovery
- The plumbing products market and forecast
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- Figure 9: Market size for plumbing products, 2015-2025 (prepared on 13th October 2020)
- Market drivers and assumptions
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- Figure 10: Monthly breakdown of UK GDP changes, by sector, February-June 2020
- Figure 11: GDP development affecting MBD’s market forecast, 2015-24 (prepared on 16 August 2020)
- Forecast methodology
Market Segmentation – Overview
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- Distinct product areas
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- Figure 12: Segmentation of the plumbing products market, 2020 (£ million)
Market Segmentation – Commercial Heating
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- Major disruption from COVID-19
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- Figure 13: The commercial heating products market, 2015-24 (prepared on 13th October 2020)
- Product segmentation
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- Figure 14: Product segmentation of commercial heating products market, 2020 (£ million)
Market Segmentation – Residential Heating
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- Demand not only influenced by end-use markets
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- Figure 15: The residential heating products market, 2015-24 (prepared on 13th October 2020)
- Product segmentation
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- Figure 16: Product segmentation of the domestic central heating market, 2020
- Market segmentation
Market Segmentation – Bathrooms
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- COVID-19 halts growth
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- Figure 17: The bathroom products market, 2015-24 (prepared on 13th October 2020)
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- Figure 18: Proportion of existing housing stock with second WC and second bathroom, 2014-18
- Market segmentation
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- Figure 19: Market segmentation for bathroom products, 2020
- Product segmentation
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- Figure 20: Product segmentation of bathroom products, 2020
Market Segmentation – Kitchens
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- A disrupted market in 2020
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- Figure 21: International comparison of UK average house sizes
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- Figure 22: The kitchen plumbing product market, 2015-24 (prepared on 13th October 2020)
- Product segmentation
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- Figure 23: Product segmentation of the kitchen plumbing market, 2020 (£ million)
Market Segmentation – Pipes
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- Market development
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- Figure 24: The tubes and pipes market, 2015-24 (prepared on 13th October 2020)
- Material segmentation
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- Figure 25: Segmentation of the tubes and pipes market, 2020
Market Drivers
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- Overview
- New house building
- Activity
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- Figure 26: New house building activity, by type, 2015-2020
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- Figure 27: Housing completions in the UK, 1970-2019
- Figure 28: Segmentation of housing completions, 1970-2019
- The implications of COVID-19
- The housing stock
- The base
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- Figure 29: Segmentation of housing stock in UK, 2019 (000 properties)
- Home ownership
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- Figure 30: Percentage of families (singles or couples) by housing tenure, 1961-2018
- House prices
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- Figure 31: UK average house prices, 1986-2019
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- Figure 32: UK quarterly average house prices, 2018-2020
- House transactions
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- Figure 33: Number of housing transactions, 2005/06-2019-20
- Housing repair and maintenance expenditure
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- Figure 34: Housing repair and maintenance expenditure, by sector, 2015-20
- DIY activity
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- Figure 35: DIY retail store sales, 2015-2020
- Non-residential applications
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- Figure 36: New construction activity in selected private commercial and industrial sectors, 2015-20 (£ billion)
- Architectural trends
- Open-plan living
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- Figure 37: International comparison of UK average house sizes
- En-suite facilities
Companies and Brands – Key Takeaways
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- COVID-19
- Fragmented product base
- Fragmented distribution channel
- Material changes
Industry Structure
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- Plumbing
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- Figure 38: Development of plumbing and heat and air conditioning installation companies, 2014-18
- Figure 39: Structure of the plumbing and heat and air conditioning installation industry, 2018 (number of companies)
- The heating industry
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- Figure 40: Development of the central heating radiators and boilers industry, 2016-20
- Bathroom products
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- Figure 41: Development of the ceramic sanitaryware fixture industry, 2016-20
- Figure 42: Development of the other fabricated metal products industry, 2016-20
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- Figure 43: Development of the other plastic building products industry, 2016-20
- Kitchen furniture
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- Figure 44: Development of the kitchen furniture industry, 2016-20
Competitive Strategies
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- Strong branding
- Consolidation opportunity
- The changing influence of the decision maker/distribution route
- Geographic diversity
- Legacy materials in pipes
Company Profiles
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- Bathroom fixtures
- Geberit Sales
- Activity
- Performance
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- Figure 45: Financial performance of Geberit Sales, 2014-18 (£ million)
- Strategy
- Ideal Standard (UK)
- Activity
- Performance
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- Figure 46: Financial performance of Ideal Standard (UK), 2014-18 (£ million)
- Strategy
- Kohler Mira
- Activity
- Performance
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- Figure 47: Financial performance of Kohler Mira, 2015-19 (£ million)
- Strategy
- Norcros
- Activity
- Performance
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- Figure 48: Financial performance of Norcros, 2016-20 (£ million)
- Figure 49: Segmentation of Norcros UK revenues, 2020 (£ million)
- Strategy
- Heating
- Resideo/Honeywell International
- Activity
- Performance
- Strategy
- Rettig (UK)
- Activity
- Performance
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- Figure 50: Financial performance of Rettig (UK), 2014-18 (£ million)
- Strategy
- Vaillant Group
- Activity
- Performance
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- Figure 51: Financial performance of Vaillant Group UK, 2014-18 (£ million)
- Strategy
- Fittings and pipes
- Mueller Europe
- Activity
- Performance
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- Figure 52: Financial performance of Mueller Europe, 2014-18 (£ million)
- Strategy
- Polypipe Group
- Activity
- Performance
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- Figure 53: Financial performance of Polypipe Group, 2015-19 (£ million)
- Figure 54: Turnover segmentation for Polypipe Group, 2019
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- Figure 55: Segmentation of the residential systems turnover of Polypipe Group, by market, 2019
- Figure 56: Segmentation of the residential systems turnover of Polypipe Group, by market, 2019
- Strategy
- Wavin
- Activity
- Performance
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- Figure 57: Financial performance of Wavin, 2014-18 (£ million)
- Strategy
Appendix – Data Sources, Abbreviations and Supporting Information
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- Abbreviations
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