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Faucet Market Analysis, Trends, Growth, Research And Forecast 2032
Faucet Market
Faucet Market Size, Growth Rate, And Forecast
The global faucet market size grew from $36.29 billion in 2022 to $40.23 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The faucet market size is expected to grow to $62.98 billion in 2027 at a CAGR of 11.9%.
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Faucet Market Drivers
The growth in urbanisation is driving the growth of the faucet market. The shift in residence of the human population from rural to urban areas is gradually increasing in search of work and a better standard of living, leading to a rise in urbanisation globally. One of the most significant impacts of urbanisation is an increase in demand for the housing and commercial sectors, which in turn increases the demand for faucets.
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Faucet Market Segments
• By Product Type: Electronic, Manual
• By Material: Metal, Plastics
• By Technology: Cartridge, Compression, Ceramic Disc, Ball
• By Application: Bathroom, Kitchen, Other Applications
• By End User: Residential, Commercial
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the faucet market.
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Faucet Market Key Players
Major competitors in the faucet market include American Standard Brands, Colston Bath, Delta Faucet Company (Masco Corporation), Gerber Plumbing Fixtures, Jaquar, Kohler Co., Fortune Brands Home & Security.
The Business Research Company's "Global Faucet Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Faucet Market Include:
1. Executive Summary
2. Faucet Market Characteristics
3. Faucet Market Trends And Strategies
4.Faucet Market - Macro Economic Scenario
5. Faucet Market Size And Growth
……
26. Africa Faucet Market
27. Faucet Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Faucet Market
29. Faucet Market Future Outlook and Potential Analysis
30. Appendix
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