Global Faucet Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2022-2027 | EMR Inc.
“Global Faucet Market Report and Forecast 2022-2027”
The Global Faucet Market Will Be Driven By Rapid Urbanization During The Forecast Period 2022-2027
Expert Market Research’s new report titled ‘Global Faucets Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global faucets market, assessing the market based on its segments such as product type , material, application, end use and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
- Market Overview (2017-2027)
- Historical market size (2021): 34.5 billion USD
- Forecast CAGR (2022-2027): 8%
- Forecasted market size (2027): 54.8 billion USD
The growing popularity of modular bathrooms is boosting the faucet industry, with customers increasingly opting for modern and sophisticated built-in bathroom products. Accordingly, the market growth is expected to be fueled by the increased usage of faucets in modernized bathrooms over the forecast period. Furthermore, the smart cities mission of the Indian government mandates the construction of India’s planned 100 smart cities. With the growth of new residential and commercial buildings, the demand for faucets and other items is likely to skyrocket. Also, as the demand for such units increases, builders have started to recognize the importance of having luxurious looking bathrooms. Consumers around the world are buying more and more high-end products, and technology-driven products are expected to fuel market expansion in the coming years.
A valve is a device that controls the flow of liquid or gas from a pipe or container. It is a necessary accessory for bathrooms and kitchens, and it is gaining popularity among manufacturers to meet consumer demands, which has led to the development of various types of electronic and digital faucets with unique features such as as water management, temperature control and automatic detection.
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On the basis of product type, the industry can be segmented into:
On the basis of material, the industry can be categorized into:
Based on application, the industry can be divided into:
Based on end use, the industry can be categorized into:
Regional markets include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The growth of the faucets market is driven by rapid urbanization, combined with rising disposable incomes, has accelerated the growth of the market. Due to the growing awareness of resource conservation, innovative technologies such as digitized and automated faucets with energy and water saving features have been introduced at cost effective rates, further catalyzing the growth of the market. As governments around the world seek to provide housing for low-income people, the demand for faucets is expected to grow significantly.
Main market players
The major market players are Danze Inc., Fortune Brands Home & Security, Inc., Franke Holding AG, LIXIL Corporation, Masco Corporation and others.
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* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.
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