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Global Faucet Market 2023 Opportunity Assessment, Product Valuation, Industry Share And Forecast To 2032 | Major Players Are American Standard Brands, Colston Bath, Delta Faucet Company (Masco Corporation), Gerber Plumbing Fixtures, Jaquar
Faucet Market
The Business Research Company's Faucet Global Market Report 2023 identifies growth in urbanization as the major driver for the Faucet Market's growth in the forecast period. 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.
The global faucet market size will grow 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 market size of the global faucet is expected to grow to $62.98 billion in 2027 at a CAGR of 11.9%.
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Major competitors in the faucet market are American Standard Brands, Colston Bath, Delta Faucet Company (Masco Corporation), Gerber Plumbing Fixtures, Jaquar, Kohler Co., Fortune Brands Home & Security, Villeroy&BochAktiengesellschaft, Paini UK Ltd., Sloan Valve Company, Pfister, Danze Inc., Aqua Source Faucet, Eczacibasi Holding AS, and Elkay Manufacturing Co.
A key trend in the Faucet Market includes Strategic partnerships. Companies manufacturing faucets are undergoing partnerships to improve the products. For instance, in January 2022, Jaquar, an India-based company manufacturing brands in faucets, bathroom fittings, showers, spas, bathtubs, and accessories, collaborated with Matteo Thun & Antonio Rodrigues, an Italy-based company offering designs for sanitary, faucets, bathtubs, and accessories. The partnership aims to launch a collection called Laguna, based on aesthetic durability and timeless simplicity. This collection offers faucets in eight colour options that can be both single and dual-tone shades, which will allow for flexibility and variety in use and lead to exciting new possibilities in interior design. The elegant Laguna collection range also offers a wide range of selections for sanitary ware, wellness products and shower enclosures.
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The Faucet Market is segmented -
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.
The Business Research Company's "Global Faucet Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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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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