The UK shower market is reporting ‘robust demand’ despite uncertainty surrounding Brexit, new data has shown.
A report by market researcher MTW Research found that while the prospect of Brexit is dampening performance, the transition period is actually providing a relatively stable environment for growth up until 2020, with above inflation growth forecast over the next four years.
Factors such as a 16% rise in housebuilding in the second half of 2017 and a healthy demand for refurbishments continue to underpin sales growth for shower manufacturers, distributors and retailers.
The report also claimed that millennials are twice as likely as over 50s to move and renovate a new home, boosting volume demand for mid-priced showers.
While the over 50s provide a key opportunity to drive value growth as they are more resistant to pricing pressures.
“The Brexit vote has undoubtedly slowed growth for the showers market but with refurbishment demand from a dwelling stock of almost 29 million, volume demand rising from ‘Millennials’ and value growth underpinned by the 50-plus age group there are many reasons to be optimistic for the future,” said MTW director Mark Waddy.
Real term growth in the shower market is currently forecast to range from 1-2% for most product sectors, such as the shower controls market, enclosures, screens and trays.
Pricing pressure on the shower accessories market still remains tense although volume demand is stable.
The digital showers market continues to gain share but at a lower rate than previous reports. The high-pressure digital shower market represents the fastest paced growth sector in 2018, according to MTW, with 30% growth forecast over the next few years.
The concealed mixing valve sector is outperforming the showers market with double-digit growth forecast to 2022, which is complementing the trend toward frameless shower enclosures, low profile trays and the wet room market.
Aggressive pricing by internet retailers continues to characterise the volume end of the shower market, with profitability for some online retailers sitting at only 1%.
The internet continues to gain share with sales growth of 30% expected between 2018 and 2022.
- Main image: Mira small spaces Platinum shower