The cost of living crisis has affected almost every part of the UK economy, but the plumbing industry has managed to hold up quite well.
According to the latest Plumbing and Heating Merchant Index report, sales from May 2022 to April 2023 were up 9.3% on the prior 12 months. This is primarily due to inflation, because the volume of sales remained largely flat.
What does this mean for the industry?
While other industries have struggled with supply chain issues, rising energy costs, and increases in the price of their goods or services, things have remained steady for plumbing.
This suggests that plumbing and heating could be a good industry to get into. There are plumbing systems in practically every home across the UK. And because people will always need running water, they will see plumbers as an essential service rather than a luxury.
Why is there growth?
Energy prices hit a record high last year, forcing people across the country to look for ways to reduce their bills as much as possible.
For those with savings, that often meant upgrading their boiler, having work done on their central heating, moving over to a heat pump, or making another kind of change with the aim of driving their monthly expenses down.
Another reason people look to make their plumbing and heating systems more energy efficient is sustainability. More efficient systems enable you to decrease your carbon footprint, reducing the negative impact you have on the environment.
What products have been popular?
For plumbers
Tools: Improved battery cells and associated technologies have made plumbers’ tools even more efficient. With increased run-times and durability, they can do the same job without relying on as much electricity.
For customers
Pipe insulation: Easy and quick to install, this reduces inefficient heat loss in a central heating system.
Low-flow toilets: These systems are designed to use far less water than traditional, older models. While the cost-saving benefits aren’t hugely significant, it’s far better for the environment. You can also get low-flow shower heads for the same reason.
Dual-flush toilets: The option for two different flushes means you can easily save water. It’s also a fairly cheap job to have a toilet converted with a dual-flush button.
Condensing boilers: In a condensing boiler, heat is recovered from the exhaust flue gas and then used in the system. This means they can heat water quicker than older models.
Solar water heaters: Energy from the sun is used to heat water – reducing the reliance on gas. Solar cells have become more efficient over the years and can have significant cost-saving impacts.
