MARKET FOR BATHROOM PRODUCTS ON THE RISE

New Directions in Bathroom Fixtures and Plumbing Supplies, the estimated value of high- end bathrooms in 1998 was $3.3 billion. Including the cost of products and installation, this figure is expected to total $3.5 by 2003, indicating an annual average growth rate of about 1.2% for the same period.

The total number of bathroom products used in 1998 was approximately 1.8 million units and this is expected to rise at an AAGR of 3.7% to reach 2.3 million units in 2003. All individual products comprising this total market are expected to grow at the same rate of 3.7% for the period 1998 to 2003. Given that the individual markets grow at the same rate, these markets will continue to maintain their percentage share in the total market in 2003.

Of all the products, fixtures alone comprise nearly 25% of the entire market, with an estimated figure of 475,200 units in 1998. This market is forecast to reach 570,900 units in 2003, still contributing to a fourth of the entire market. Closely following this market is the bowls market, which is expected to total 506,025 units in 2003.

The bathroom products market as a whole is generally only largely effected in very bad economic times. With continuing stability in the economy, thereby encouraging older American baby-boomers to continue to buy large high-end homes after their children have left home, the bathroom market will remain strong. In a decline it is estimated that the bathroom market may not see the same type of crunch that other markets may, due to the remodeling sector. When people actually do large remodeling projects, they tend to spend more money on extra, high-end features.

On the national level the growth rate is expected to continue through the coming years. Nevada, Utah and Arizona are the fastest growing markets statewide in the residential units due largely to migrating Californians. The United States community showing the fastest growth rate in 1996 was Naples, Florida. A residential building boom is expected in North Carolina and California in the near future. Las Vegas, Nevada; Austin, Texas; Reno, Nevada; Phoenix, Arizona; and Atlanta, Georgia are other notable top growth areas in the United States.

Internationally the market looks very promising. With free trade agreements on both of the U.S. boarders, and some of the largest bathroom products companies abroad investing here, this market looks very stable. Most of the international companies have remained in business for many years now. They have grown to make new innovations that can be seen worldwide.

About The Author:

Alenn Kabbat is a successful author and regular contributor to http://www.1st-in-home-decor.com. Home decorating tips and ideas to showcase any room with style.