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Faucet Market worth $3.45 billion by 2030, growing at a CAGR of 7.32% - Exclusive Report by 360iResearch
Faucet Market | 360iResearch
The Global Faucet Market to grow from USD 2.10 billion in 2023 to USD 3.45 billion by 2030, at a CAGR of 7.32%.
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Faucets and plumbing fixtures are essential in buildings to provide access to water and drainage systems attached to sinks, toilets, showers, bathtubs, and other building plumbing systems. Faucets are essential to any bathroom or kitchen as they provide a convenient and efficient way to access water for various tasks, such as washing hands, brushing teeth, washing dishes, and preparing food. The number of remodeling and renovation projects in the residential sector has significantly increased, and homeowners frequently upgrade their plumbing fixtures as part of efforts to modernize and functionally enhance their residences. Manufacturers emphasize producing aesthetically pleasing and functional faucets with various finishes, designs, and materials owing to their popularity in recent times. Compared to conventional faucets, sensor-based faucets, which employ infrared technology to feel the user's presence and switch automatically, are expensive and out of reach for some customers. In addition, many low-quality faucets are available in the market, which might result in subpar performance and a shorter lifespan. Conventional faucets are prone to malfunctions with leaks, blockages, and corrosion, which can be expensive to fix and inconvenient for the user. With the rise of technology, there has been a recent trend toward introducing digital and electronic faucets. Moreover, manufacturers provide cutting-edge and opulent styles that cater to various preferences and tastes, including minimalist and vintage designs and finishes with matte black and rose gold. With more alternatives available to customers, these designs improve the aesthetic appeal of kitchens and bathrooms; thus, these trends are assisting the faucet market in growing in the coming years.
The faucet market in the Americas, APAC, and Europe is experiencing a developing landscape owing to the number of introductions of innovative products developments and their commercialization. The growing number of home renovation and remolding projects are witnessed in the U.S., Canada, the UK, India, Australia, China, South Korea, and Japan to develop advanced faucets. High-end faucets with innovative, technologically advanced designs are majorly made in Italy. German faucets are renowned for their high quality, functionality, and detailed design, with a focus on precision engineering and attention to detail. Additionally, the investments in the building and construction activities of the Americas and APAC region foster the demand for luxurious faucets for smart kitchens and bathrooms. Several regional architectural and interior working firms are advancing their materials and designs for faucets that can withstand high water pressure, temperature change, and durability of the material.
Market Segmentation & Coverage:
This research report categorizes the Faucet Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product, market is studied across Bar Faucets, Faucet with Side Spray, Hands-Free, PotFilters, and Pull-Down Faucet. The Bar Faucets commanded largest market share of 38.99% in 2023, followed by Hands-Free.
Based on Installation, market is studied across DeckMount and WallMount. The DeckMount commanded largest market share of 64.24% in 2023, followed by WallMount.
Based on Material, market is studied across Bronze, Chrome, Plastic, and Stainless Steel. The Stainless Steel commanded largest market share of 44.34% in 2023, followed by Bronze.
Based on Distribution Channel, market is studied across Offline and Online. The Offline commanded largest market share of 76.74% in 2023, followed by Online.
Based on End-User, market is studied across Commercial and Residential. The Commercial commanded largest market share of 58.45% in 2023, followed by Residential.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 36.93% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Faucet Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Faucet Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Faucet Market, highlighting leading vendors and their innovative profiles. These include Acquaviva India Pvt. Ltd., Aquant, Boyel Living, Brondell, Inc., CERA, Dornbracht AG & Co. KG, Duravit AG, Fortune Brands Innovations, Inc., Franke Holding AG, Geberit International Sales AG, GWA Group Limited, Hindware Home Innovation Limited, Jacuzzi Inc., Jaquar Group, KEUCO GmbH & Co. KG, Kohler Co., Kraus USA Plumbing LLC, Lecico PLC, LIXIL Corporation, Masco Corporation, Neoperl Group AG, Paini (UK) Ltd., Roca Sanitario, S.A, ROHL LLC, Sloan Valve Company, Spectrum Brands Holdings, Inc., TOTO Ltd., Vitra, Waterstone Faucets LLC, and Zurn Elkay Water Solutions Corporation.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Faucet Market, by Product
7. Faucet Market, by Installation
8. Faucet Market, by Material
9. Faucet Market, by Distribution Channel
10. Faucet Market, by End-User
11. Americas Faucet Market
12. Asia-Pacific Faucet Market
13. Europe, Middle East & Africa Faucet Market
14. Competitive Landscape
15. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Faucet Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Faucet Market?
3. What is the competitive strategic window for opportunities in the Faucet Market?
4. What are the technology trends and regulatory frameworks in the Faucet Market?
5. What is the market share of the leading vendors in the Faucet Market?
6. What modes and strategic moves are considered suitable for entering the Faucet Market?
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