Faucet Market Aims To Expand At Double-Digit Growth Rate |Roca Sanitario S.A, TOTO Ltd., Spectrum Brands, Danze

A faucet is a device that draws or regulates water flow in a plumbing system. It can consist of the following components: spout, handle(s), lift rod, cartridge, aerator, mixing chamber, and water inlets. The faucet body is usually made of brass, though die-cast zinc and chrome-plated plastic are also used. Bathroom faucets are one of the essential smart accessories that are gaining increasing focus among consumers as well as manufacturers. With the introduction of innovative technologies, manufacturers are providing a wide range of digital and electronic faucets for the domestic and commercial sector.

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Increase in disposable income of the consumers is one of the primary factors that drive the growth of the global faucet market. Rise in trend of home remodeling and thereby increase in usage of trendy & smart bathroom accessories is expected to augment their demand in the market. The introduction of sensor-based bathroom faucets, with an aim to ensure superior hygiene standards and water conservation, is also expected to fuel the growth of the global faucet market during the forecast period. The faucets market is gaining high popularity due to growth in the real estate industry, which leads to rise in construction of residential and commercial buildings that require faucets installation.

In addition, changes in consumer preferences and lifestyle, and exposure to international brands boost the faucets industry. Fragmented structure of the market owing to the presence of various small and large vendors limits the growth of the market. Increase in investment in industrial sector and growth in urban population are anticipated to make way for the market growth in the forecast period.

With strong global concerns about the pandemic, coronavirus has largely but negatively influenced the global faucets market. Moreover, due to high demand and low supply trends, the prices and demand for faucets products increased in 2020 to overcome economic instability. On the contrary, disruptions to the supply chain in shipping could lead to temporary shortages in the supply, putting upward pressure on prices in the short term. The faucets market is gaining high popularity due to growth in the real estate industry, which leads to rise in construction of residential and commercial buildings that require faucets installation.

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The faucets market is segmented on the basis of application, product type, material, end user, and region. The segmentation for application includes bathroom, kitchen, and others.
By product type, it is bifurcated into electronic and manual. By material, it is classified into metal and plastics (PTMT). Based on region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, Spain, Russia and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, ASEAN, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

KEY BENEFITS FOR STAKEHOLDERS
- This report presents a quantitative analysis of the current trends, estimations, and dynamics of the global faucet market from 2019 to 2027 to identify the prevailing market opportunities.
- The key countries in all the major regions are mapped based on their market share.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the market segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global industry. Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of regional as well as global market, key players, market segments, application areas, and growth strategies.

The key players in the faucets market include LIXIL Group Corporation, Sloan Valve Company, MASCO corporation, Paini (UK) Ltd, Fortune Brands Home & Security, Inc., Roca Sanitario S.A, TOTO Ltd., Spectrum Brands, Danze, Inc., and Rohl LLC.

KEY MARKET SEGMENTATION
- By Application
o Bathroom
o Kitchen
o Others

- By Product Type
o Electronic
o Manual

- By Material
o Metal
o Plastic (PTMT)

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- By End User
o Residential
o Commercial

- By Region
o North America
? U.S.
? Canada
? Mexico
o Europe
? Germany
? France
? UK
? Italy
? Spain
? Rest of Europe
o Asia-Pacific
? China
? Japan
? India
? Australia
? South Korea
? ASEAN (Indonesia, Philippines, Malaysia)
? Rest of Asia-Pacific
o LAMEA
? Latin America
? Middle East
? Africa

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