In this piece, we will take a look at the 16 biggest plumbing companies in the world. For more plumbing companies, head on over to 5 Biggest Plumbing Companies in the World.
Plumbing is one of the most important industries in the world. This is due to the simple fact that human health and living standards have massively improved as time has progressed, and at the heart of this improvement is sanitation and waste management since it is crucial to prevent the outbreak of diseases.
At the same time, plumbing has also allowed humans to live in regions that were previously uninhabitable. The ability to use hot water is one of the most important inventions of modern day society since it enables populations living in harsh climates to maintain their hygiene. Therefore, the plumbing industry itself is worth billions of dollars. On this front, a research report from Global Industry Analysts estimates that the global plumbing fixtures and fittings market was worth $81.8 billion in 2020. From this, it will grow at a compounded annual growth rate (CAGR) of 4.4% to sit at roughly $111 billion by the end of 2027. According to the research firm, within this market, the kitchen sink and fixtures market will outpace the broader market by growing at a 5.1% while the bathroom fixtures segment will follow the market by growing at 4.5%.
Global Industry Analysts also estimate that China will grow faster than the market as well, with its plumbing and fixtures market growing at a 5.7% CAGR to sit at $30.2 billion by the end of 2027. As far as the U.S. is concerned, the country’s plumbing market was worth $17.3 billion in 2020 to account for almost a quarter of the entire market.
Speaking about the trends in the market, the plumbing industry is also being influenced by technology, especially due to its potential to contribute to climate change and the efficient utilization of the Earth’s natural resources. However, before we get to that, the industry itself is facing several problems as we settle into 2023. The U.S. economy is currently witnessing a paradigm shift as the Federal Reserve grapples with both the painful reality of inflation and the consequences of its fight to contain it. The Fed’s decision to rapidly increase interest rates has stressed the U.S. financial system, including the housing industry as people find it more difficult to get mortgages to buy more homes, and construction firms also find it harder to finance their working capital. Naturally, any impact on the housing market will also impact the plumbing sector, and the industry has been anticipated to experience slow job growth until 2030. However, at the same time, in what is perhaps a counterintuitive fact, the plumbing industry is still facing a labor shortage, with the National Association of Home Builders estimating that there was a 55% plumbing labor shortage in 2021.
With that out of the way, now let’s focus on the rising trend of smart housing. According to research from Grand View Market Research, the solar heater market was worth a mere $2 billion in 2016 but is expected to outpace the broader global plumbing fixture market by growing at a CAGR of 8.1% by 2025. The research firm attributes this growth to rising energy prices that end up increasing everyone’s natural gas or electricity bill as well as a rising global population. Additionally, according to the same research firm, the global smart bathroom fixtures market is also expected to outpace the broader market, since it will exhibit a CAGR of 10.5% between 2020 and 2027 to sit at an estimated $6.7 billion by the end of the forecast period. Grand View Market Research attributes this growth to the novel features offered by products such as smart toilets which are self cleaning and have innovative devices like smart faucets which help users save water. The smart faucet segment is expected to grow at 10.9% by 2027. At the same time, the smart toilet segment formed the largest market share, as it commanded 33% of the broader market in 2019.
Don’t Miss: 20 Biggest Plumbing Supply Companies in the World
Finally, the winds of sustainability have already started to blow in the industry itself, with the chief executive officer of Zurn Elkay Water Solutions Corporation (NYSE:ZWS), a water flow systems products provider, Mr. Todd Adams, outlining in a recent earnings call:
Our customers care about the sustainability of their buildings and retrofit products, that’s why we will soon complete our first product lifecycle analysis, the document, end-to-end environmental impact of our Elkay stainless steel sinks with plans to do more. Creating LCA’s alongside environmental product declaration gives our customers additional confidence that Zurn Elkay products will help them achieve their own sustainability goals and earn sustainability certifications like WELL 2.0 and LEAD. We simply believe that doing the right thing and we’re proud of our sustainability efforts continue to be recognized. For the third consecutive year, Newsweek has named Zurn Elkay one of America’s most responsible companies. We’re continuing to build on all the work we’ve done and including embedding ESG into our strategic planning process efforts and hope that you will take care of a look at our report later this month.
With these details in mind, today we’ll take a look at some of the biggest plumbing companies in the world, out of which the top picks are Centrica plc (OTCMKTS:CPYYY), CRH plc (NYSE:CRH), and Compagnie de Saint-Gobain S.A. (OTCMKTS:CODYY).
Photo by Marian Florinel Condruz on Unsplash
Our Methodology
We started off our hunt for the largest plumbing companies by first making a list of all companies that make and sell plumbing products. Then, their latest twelve month revenue was calculated, and the top sixteen biggest plumbing companies in the world are listed below.
Biggest Plumbing Companies in the World
16. Zurn Elkay Water Solutions Corporation (NYSE:ZWS)
Latest Twelve Month Revenue Estimate: $1.2 billion
Zurn Elkay Water Solutions Corporation (NYSE:ZWS) is an American firm headquartered in Milwaukee, Wisconsin. The firm makes and sells water control products and solutions such as valves, controls, piping, and tubing.
By the end of last year’s fourth quarter, 24 of the 943 hedge funds surveyed by Insider Monkey had held a stake in the company. Zurn Elkay Water Solutions Corporation (NYSE:ZWS) is one of the biggest plumbing companies in the world, alongside others such as CRH plc (NYSE:CRH), Centrica plc (OTCMKTS:CPYYY), and Compagnie de Saint-Gobain S.A. (OTCMKTS:CODYY).
15. Watts Water Technologies, Inc. (NYSE:WTS)
Latest Twelve Month Revenue Estimate: $1.9 billion
Watts Water Technologies, Inc. (NYSE:WTS) is an American company based in North Andover, Massachusetts. It provides products such as leak protection equipment, valves, rainwater harvesting solutions, and water filtration equipment.
Insider Monkey dug through 943 hedge fund portfolios for their fourth quarter of 2022 investments and found out that 21 had bought Watts Water Technologies, Inc. (NYSE:WTS)’s shares. Out of these, Ian Simm’s Impax Asset Management is the firm’s largest hedge fund investor since it owns 1.9 million shares that are worth $284 million.
14. A. O. Smith Corporation (NYSE:AOS)
Latest Twelve Month Revenue Estimate: $3.7 billion
A. O. Smith Corporation (NYSE:AOS) serves the needs of both residential and commercial customers by providing products such as water heaters, boilers, filtration products, and tanks. It is based in Milwaukee, Wisconsin.
Insider Monkey’s December quarter of 2022 survey covering 943 hedge funds revealed that 26 had invested in the firm. A. O. Smith Corporation (NYSE:AOS)’s largest shareholder is Ian Simm’s Impax Asset Management which owns four million shares that are worth $232 million.
13. MSC Industrial Direct Co. Inc. (NYSE:MSM)
Latest Twelve Month Revenue Estimate: $3.8 billion
MSC Industrial Direct Co. Inc. (NYSE:MSM) is a diversified industrial equipment manufacturing firm that also supplies plumbing products. It is based in Melville, New York.
30 of the 943 hedge funds covered by Insider Monkey had invested in MSC Industrial Direct Co. Inc. (NYSE:MSM) during 2022’s December quarter. Seth Rosen’s Nitorum Capital is the firm’s largest investor through a $78 million stake.
12. Mueller Industries, Inc. (NYSE:MLI)
Latest Twelve Month Revenue Estimate: $3.9 billion
Mueller Industries, Inc. (NYSE:MLI) is an American company headquartered in Collierville, Tennessee. The firm’s Piping Systems business division sells plumbing products such as tubes, fittings and valves.
Insider Monkey’s Q4 2022 survey of 943 hedge funds revealed that 27 had held a stake in the company. Mueller Industries, Inc. (NYSE:MLI)’s largest shareholder is Mario Gabelli’s GAMCO Investors which owns 2.4 million shares that are worth $145 million.
11. Toto Ltd. (OTCMKTS:TOTDY)
Latest Twelve Month Revenue Estimate: $5.27 billion (1JPY = 0.0076USD)
Toto Ltd. (OTCMKTS:TOTDY) is a Japanese building products company that sells plumbing products such as sinks, toilet seats, faucets, valves, and more. It is headquartered in Kitakyushu, Japan.
10. Pool Corporation (NASDAQ:POOL)
Latest Twelve Month Revenue Estimate: $6.2 billion
Pool Corporation (NASDAQ:POOL) is an American company headquartered in Covington, Louisiana. It provides pool and garden equipment including irrigation systems and commercial pumps, and filters.
By the end of last year’s fourth quarter, 37 of the 943 hedge funds part of Insider Monkey’s database had invested in Pool Corporation (NASDAQ:POOL). Robert Joseph Caruso’s Select Equity Group is the firm’s largest shareholder since it owns 1.5 million shares worth $454 million.
9. Fastenal Company (NASDAQ:FAST)
Latest Twelve Month Revenue Estimate: $6.9 billion
Fastenal Company (NASDAQ:FAST) is an industrial equipment products manufacturer based in Winona, Minnesota. The firm provides plumbing contractors with different products such as fasteners and washers.
40 of the 943 hedge funds part of Insider Monkey’s Q4 2022 study had bought the company’s shares. Fastenal Company (NASDAQ:FAST)’s largest hedge fund investor is William Von Mueffling’s Cantillon Capital Management which owns a $251 million stake.
8. Watsco, Inc. (NYSE:WSO)
Latest Twelve Month Revenue Estimate: $7.2 billion
Watsco, Inc. (NYSE:WSO) sells plumbing and bathroom remodeling supplies. It is headquartered in Miami, Florida.
As of December 2022, 32 of the 943 hedge funds surveyed by Insider Monkey had bought a stake in Watsco, Inc. (NYSE:WSO). Out of these, Tom Gayner’s Markel Gayner Asset Management is the firm’s largest investor since it owns 500,250 shares that are worth $124 million.
7. Masco Corporation (NYSE:MAS)
Latest Twelve Month Revenue Estimate: $8.7 billion
Masco Corporation (NYSE:MAS) sells bathroom products such as shower trays, shower bases, sinks, and toilets. It is based in Livonia, Michigan.
28 out of the 943 hedge funds polled by Insider Monkey had invested in the firm in last year’s December quarter. Out of these, Masco Corporation (NYSE:MAS)’s largest investor is Natixis Global Asset Management’s Harris Associates through a $391 million stake.
6. UFP Industries, Inc. (NASDAQ:UFPI)
Latest Twelve Month Revenue Estimate: $9.6 billion
UFP Industries, Inc. (NASDAQ:UFPI) sells plumbing products through its construction segment. It is based in Grand Rapids, Michigan.
Insider Monkey took a look at 943 hedge fund portfolios for last year’s fourth quarter to find out that 29 had bought UFP Industries, Inc. (NASDAQ:UFPI)’s shares. Out of these, Cliff Asness’ AQR Capital Management is the firm’s largest investor since it owns 428,286 shares that are worth $63 million.
Centrica plc (OTCMKTS:CPYYY), UFP Industries, Inc. (NASDAQ:UFPI), CRH plc (NYSE:CRH), and Compagnie de Saint-Gobain S.A. (OTCMKTS:CODYY) are some of the biggest plumbing companies in the world.
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Disclosure: None. 16 Biggest Plumbing Companies in the World is originally published on Insider Monkey.