Plumbing Services in New Zealand - Industry Research Report

Power boost: Government spending and growth in residential building construction are lifting revenue

Plumbing Services industry's revenue is expected to increase at an annualised 1.7% through to the end of 2022-23, climbing to an estimated $3 billion. The upward trend in residential building construction and growth in household disposable income are the main demand drivers for plumbing services. Many small-scale plumbing contractors are generating work installing water and gas fixtures and fittings on new residential buildings and home renovations. The housing market peaked in 2021-22 on the back of historically low mortgage interest rates and government stimulus to counter the economic fallout from COVID-19. Revenue is expected to slump an estimated 6.6% during 2022-23 as new housing investment falls due to rising mortgage interest rates, less favourable bank lending practices and the scaling back of government aid.

Operators in the industry primarily provide general plumbing or drainage services on a contract basis. Services typically include drain repair, gas plumbing, guttering and septic tank repair and installation. The industry excludes gas appliance repairs, constructing large-scale sewerage or drainage systems, and septic tank cleaning services.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.