Global Faucet market is valued at approximately USD 37.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.8 % over the forecast period 2020-2027. A faucet is a gadget that controls the flow of water in a plumbing system. These faucets are usually used in the kitchen, bathroom, and other places where water must be replenished daily. Faucets come in a variety of models, colors, and finishes to suit the needs of a diverse range of customers. The faucet industry study includes both low-cost and high-end faucets that are used in a variety of applications. The constant faucet industry demand owing to new residential apartment building, commercial space growth, house renovations, and the replacement of old faucets are some of the main factors driving the global faucets market. To meet customer demand for personalized faucets, manufacturers are focused on extending their product offerings by offering an infinite range of content and style combinations. For instance: Kohler’s Sensate Touchless Kitchen Faucet has been recognized as one of the best smart home inventions of 2019. Similarly, Delta offers kitchen faucets integrated with advanced technology and relevant finishes, such as Delta ShieldSpray.Companies are creating smart devices with a smart consumer interface, which is fueling global industry innovation. However, high cost of installation, and maintenance of equipment instruments, may impede market growth over the forecast period of 2020-2027.
The regional analysis of the Global Faucet market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region across the world in terms of market share as residents of the region have been setting up records with more than regular number washrooms in each household. of chronic and infectious diseases in the region. Whereas Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2020-2027, attributed to the rise in residential and commercial construction in the Asia Pacific region is expected to generate the heavy demand for faucets during the stipulated time period.
Major market player included in this report are:
LIXIL Group Corporation .
Sloan Valve Company
Paini (UK) Ltd
Fortune Brands Home & Security, Inc.
Roca Sanitario S.A
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
By end use:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027.
Target Audience of the Global Faucet market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers