The plumbing sector is a growing one. According to the Global Construction 2020 Report prepared by Global Construction Perspectives & Oxford Economics and sponsored by PWC, US $ 97.7 trillion would be spent on construction globally in the next ten years. The report further says that current spending of $ 7.2 trillion per year would grow by 67% to 12 trillion per year by 2020, with half the amount being spent by three countries - China, India & USA.
Real estate is one of the fastest growing sectors of the Indian economy and contributes about 5 per cent to India's gross domestic product (GDP). Foreign direct investment (FDI) up to 100 per cent is allowed with government permission for developing townships and settlements and in the hotel and tourism sector through the automatic route. The Government of India (GOI) has raised the housing loan limit to US$ 52,080 for priority sector lending and US$ 833 million has been allocated for rural housing fund (RHF) in FY13 budget. The real estate sector is playing a significant role in the rising demand for plumbing products.
PLUMBING WORLD 2016
With the growth in growth in the construction market, the future of the plumbing industry looks promising.
Plumbing World 2016 is the leading regional trade exhibition series for the plumbing sector, offering a unique exhibition experience for exhibitors and visitors alike. It is where the companies and professionals of the plumbing sector will meet to showcase their innovations in products and services, and generate new business opportunities, under one roof. If you are a buyer or specifier, then this is the show for you and the best place to discover in depth and comprehensive information here about the latest technologies, trends, products, accessories and services; meet motivated and qualified specialists, network and develop business contacts.
KEY GROWTH DRIVERS
- India's GDP will have multiplied five times by 2030.
- By 2030, 590 million people will live in cities in India, nearly twice the population of US, today.
- Net increase in working-age population by 2030 will be of 270 million people.
- Indian cities will generate 70 percent new employment.
- From 22 million households in 2010, there will be 91 million urban households in 2030.
- From 42 cities today (Europe has 35!) India will have 68 cities with a population of one million plus.
- India will need capital investment approx. $ 1.2 trillion to meet projected demand in Indian cities.
- Anything between 700 and 900 million sq m of commercial and residential space (This figure is almost equivalent to entire Chicago!) will be required to be built, every year.
- India will need to pave roads approx. 2.5 billion sq m by 2030, 20 times higher than that added in past decade.
- 7400 kilometres of metros and sub-ways will be required, 20 times the capacity added in the past decade