The Size of the Plumbing Industry and its Impact on the Economy

How big is the plumbing industry?
According to industry research from IBISWorld, a leader in market research, the plumbing industry was $95 billion strong as of 2013. But in 2019, that number shot up to more than $110 billion, and it’s expected to continue growing*.
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In order to ensure that households, businesses, and industries have access to clean water, one of the most important sectors in the world is plumbing. Additionally, it makes sure wastewater is disposed of safely, preventing the spread of illness and maintaining a clean environment. The plumbing industry has expanded tremendously over the years due to the rising demand for plumbing services, becoming a multi-billion dollar industry.

The plumbing sector in Australia is thought to be worth over $17 billion and employs over 80,000 people nationwide. With more homes and companies needing plumbing services, the industry has been gradually expanding over time. The growing need for sustainable plumbing solutions, such as rainwater harvesting systems and energy-efficient hot water systems, has also contributed to the industry’s expansion.

Because it offers employment opportunities and brings in money for the government, the plumbing business also makes a sizable contribution to Australia’s economy. The plumbing sector supports the Australian economy with an annual contribution of approximately $4.5 billion, according to a survey by the Australian Industry Group (AIG). Considering that the majority of the sector’s companies are small and medium-sized enterprises, this sum is sizeable.

Plumbing is one of the top trades in Australia in terms of greatest pay. The Australian Government reported that the average annual wage for plumbers in Australia is $78,000. This is higher than wages for workers in other trades including painters, carpenters, and electricians. Furthermore, skilled plumbers can make considerably more money, particularly those who specialize in fields like gas fitting and roofing.

The cost of a plumber’s hourly labor varies in Australia depending on the job’s complexity, the area, and the plumber’s experience. Australian plumbers often bill between $80 and $150 per hour. However, some plumbers may bill more for urgent situations or complicated work that call for specialized tools and abilities.

In conclusion, the plumbing sector significantly contributes to Australia’s economy, and it is anticipated that it will continue to expand as more homes and businesses start to need plumbing services. The sector also provides employment opportunities and a crucial service that protects the community’s health and safety. For those who want to become plumbers, the field offers a rewarding career path with competitive pay and prospects for specialization.