The sales forecast for member companies of VDMA Sanitation Technology has slightly improved in the second half of 2024. This is the result of a recent survey conducted by the VDMA Sanitation Technology and Design industry association, which is regularly carried out in collaboration with the VDMA Valves Association.
Although the VDMA forecast for building fittings in the domestic market shows a decline of 1.4 percent, companies expect slight growth of 0.3 percent abroad. Thus, the outlook for the second half of 2024 is significantly more positive than for the first half.
In the "Sanitation in Front of the Wall" sector (sanitary fittings and other products of the sanitary industry), member companies expect a decline of 1.8 percent domestically and a decrease of 0.5 percent abroad. For "Installation Technology Behind the Wall" (technical building fittings and other installation components for the bathroom), a decline of 1.4 percent is forecasted domestically, but a slight increase of 0.4 percent is expected abroad.
"It is still too early to speak of a return to the growth phase, but a possible turning point is clearly visible," explains Dirk Gellisch, Deputy Chairman of the VDMA Sanitation Technology and Design industry association and Managing Director of Viega Holding GmbH & Co. KG. "Now it is important for politics and the sanitary industry to set the course for new growth together."
For the construction industry, there is still no end to the recession in sight, as building permits continue to decline. Euroconstruct forecasts a real decrease of 6.0 percent for European residential construction in 2024.
In Germany, however, the long-awaited economic recovery is slowly becoming a reality. In the first half of the year, the economy is expected to have grown slightly, mainly driven by a rebound in exports and consumption. At the same time, inflation has returned to an acceptable level, contributing to the positive development.
"However, high economic momentum is not yet visible," comments Dr. Laura Dorfer, Managing Director of the VDMA Sanitation Technology and Design industry association. "We need to remove the uncertainty for consumers and investors and encourage them to make new investments."
To achieve this, 25 brand manufacturers of the German and European sanitary industry have currently joined forces in the VDMA Sanitation Technology and Design. Members include manufacturers of fittings and showers, sanitary objects such as bathtubs, shower surfaces, and shower enclosures, as well as bathroom furniture and installation components for the bathroom. The VDMA Sanitation Technology and Design represents an industry sector in Germany with nearly 150 companies, employing around 43,000 people, and generating sales of around nine billion euros.
