In a recent published report, Kenneth Research has updated the market report for U.S. Plumbing Services Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for U.S. Plumbing Services Market products.
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The U.S. Plumbing Services Market was valued at USD 980 million by 2017, growing with 5.0% CAGR during the forecast period, 2018-2025
Plumbing services industry is growing due to the technological advances which improves product and appliance installation. Advancement in technologies has introduced infrared inspection cameras that used to pinpoint pipe blockages and rainwater catchment systems. In addition, increasing number of residential and non-residential buildings will spur the demand for industry significantly. However, demand for plumbing services is adversely influenced by fluctuations in building and construction activity.
In terms of types, the market is categorized as;
General plumbing services
Mechanical contracting services
Sprinkler installation services
Steam and pipefitting services
General plumbing services is the major market. These services include the installation, repair and maintenance of water distribution pipes and appliances, water heaters, garbage disposals, bathroom and kitchen sinks, water pipes and other plumbing.
Based on services, the market is categorized as;
Retail and storage spaces
Industrial and office buildings
Plumbing service franchises are service oriented, and there is no international trade within this industry as goods are not passed from one country to another. In particular, the residential building construction market is expected to be a strong driver for plumbing service franchises.
Key Vendors Takeaway
Jon Wayne Service Company
The Dwyer Group
Roto-Rooter Plumbing & Water Cleanup
US Plumbing Inc
Clockwork Home Services, Inc
The Plumbing Service Franchises industry is in a mature stage of its life cycle. The industry benefits from stable demand from homes and businesses that need repair and maintenance of water delivery systems Plumbing services have shown incremental change over the long term, with technological advances generally improving the ease of product and appliance installation.
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The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
Traders, Distributors, and Suppliers
Government and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY TYPES
General Plumbing Services
Mechanical Contracting Services
Sprinkler Installation Services
Steam and Pipefitting Services
MARKET, BY SERVICES
Retail and Storage Spaces
Industrial and Office Buildings
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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