The bathroom hardware industry is closely tied to the real estate sector. This year, due to real estate regulations, the plumbing and sanitary ware market has faced a downturn. However, historically, the industry's peak periods have always coincided with the growth of the real estate market. The years 2005 and 2007 marked three years of rapid real estate development, and as a downstream industry, the plumbing and sanitary ware market also experienced significant growth. Even during the global financial crisis in 2008, the overall development momentum remained strong.
Looking back, the history of the plumbing and sanitary ware industry can be summarized in a few key points. First, the industry has always been relatively small and holds a minor share within the broader furniture and building materials sector. Second, most companies in the industry are not large in scale. Third, the industry’s influence has been limited compared to other sectors.
However, the current status of the industry has undergone a qualitative transformation, and it can now be described through three major trends. According to Luo Baihui, chief analyst at Jinmojia Power Network, the plumbing and sanitary ware exhibitions and industry conferences have made great progress, offering rich and engaging programs. Last year, the number of participants at the Guangzhou annual industry conference exceeded a thousand, with many government departments also taking part. This growing interest is reflected in several ways:
First, there's a cross-industry trend. Companies from industries such as doors and windows, flooring, furniture, and kitchen appliances are entering the plumbing and sanitary ware market. Previously, most brands in this industry came from the building materials and flooring sectors. There are several advantages to this cross-border movement. One is that these new entrants have strong brand reputations and are more mature and influential than traditional plumbing brands. Second, the home appliance industry has a high level of marketing expertise and talented professionals. Third, combining kitchen appliances with plumbing and sanitary ware creates a "whole-home" concept, which is very appealing. However, plumbing and sanitary ware stores are actually better suited for the era of large home appliances. When household appliance companies enter this space, they often treat plumbing products as an accessory or add-on, which is one reason why many of them struggle to excel in this area.
Second, there's an investment boom. Wealthy individuals from regions like Guangdong, Fujian, and Zhejiang have poured large amounts of capital into the industry. They typically use two methods: either creating new brands from scratch or conducting capital operations on established plumbing and sanitary ware brands.
Third, there's a talent surge. As professional brands in the industry seek rapid growth, they are actively seeking both talent and capital support. Both the capital from rapidly expanding companies and the investment from cross-industry brands are strong. This dual pressure has attracted top talent from various fields, significantly improving the quality of the workforce.
Although the current heat in the industry may seem a bit intense or overly enthusiastic, according to Luo Baihui, the market will eventually become more rational. Looking ahead, the industry's development will have three main characteristics. First, the level of specialization will continue to rise. Raw material and hardware suppliers will become stronger, and manufacturers and distributors will become more professional. Second, the industry itself will grow significantly, with an annual growth rate of around 40%, and its share in the furniture and building materials sector will increase. Third, certain brands will stand out, and their business models will become more mature. Models such as direct operation, franchised chains, full-home solutions, and low-end chain formats will give rise to large companies that dominate the market.
As business models become more refined, and professional divisions become more detailed, the plumbing and sanitary ware industry is set to experience a golden period of rapid growth.
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