Electric Taps Market is Expected to Rise $631.0 million by 2027, Growing At a CAGR of 12.0% From 2020-2027

Electric Taps Market by Product (Touchless Taps and Instant Heating Taps), End-use Industry (Residential and Commercial) and Mounting Type (Wall-Mounted and Deck-Mounted): Global Opportunity Analysis and Industry Forecast, 2020-2027". As per the report, the global electric taps industry was pegged at $310.0 million in 2019, and is expected to reach $631.0 million by 2027, growing at a CAGR of 12.0% from 2020 to 2027.

Request Sample Report at: -
https://www.alliedmarketresearch.com/request-sample/A06212

Drivers, restraints, and opportunities
Low operating cost of instant heaters and assistance in water conservation drive the growth of the global electric taps market. However, high installation cost hampers the market. On the contrary, adoption of smart bathrooms and kitchen is expected to create lucrative opportunities for the market players in the future.

Covid-19 scenario:
Due to Covid-19 outbreak, governments have imposed strict regulations and have partial or complete stopped of construction works and industrial manufacturing.
However, restrictions and awareness among people for touchless operations would help the market get back on track.
Several public places such as malls and restaurants have already started to install touchless taps to save water and avoid the spread of the disease.

Buy Now this Report @checkout link
https://www.alliedmarketresearch.com/checkout-final/c97065515c3b0630a66a20b9cb2dd020

The touchless taps segment held the lion's share
By product, the touchless taps segment held the largest share in 2019, accounting for more than four-fifths of the global electric taps market, owing to rise in use of touchless hygienic products and increase in awareness for water conservation. However, the instant heating tap segment is expected to manifest the highest CAGR of 12.8% during the forecast period, due to low operating costs of the heaters compared to the traditional geysers.

The residential segment to manifest the highest CAGR through 2027
By end-use industry, the residential segment is expected to portray the highest CAGR 12.2% during the study period, owing to increase in adoption of smart bathrooms and kitchens. However, the commercial segment held the largest share in 2019, contributing to more than two-thirds of the global electric taps market, due to the installation of touchless taps in malls, theaters, and other similar infrastructures to conserve water.

Request For Purchase Enquiry at:
https://www.alliedmarketresearch.com/purchase-enquiry/A06212

Asia-Pacific, followed by North America, dominated the market
By region, the market Asia-Pacific, followed by North America, held the largest share in 2019, accounting for more than one-third of the market, owing to installation of electric taps in newly built malls, theaters and other similar infrastructures in developing countries of the region. However, the global electric taps market across LAMEA is expected to showcase the highest CAGR of 13.6% during the forecast period, due to increase in adoption of electricity and water-conserving products in developing countries.

Major market players
Cera Sanitaryware Limited, Jaquar, Fortune Brands Home & Security, Inc. (Moen), LIXIL Group Corporation, Kohler Co., Taizhou Hengyida Plastic Plumbing Factory (Zhenhao), Masco Corporation (Delta Faucet Company), Wenzhou Bomei Sanitary Ware Co., Ltd., TOTO Ltd., Xiaomi Corporation

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Similar Reports
Smart Bathroom Market
https://www.alliedmarketresearch.com/smart-bathrooms-market
Solar Pump Market
https://www.alliedmarketresearch.com/solar-pump-market-A06657
Precision Ball Screw Market
https://www.alliedmarketresearch.com/precision-ball-screw-market
Water Pipeline Leak Detection Systems Market
https://www.alliedmarketresearch.com/water-pipeline-leak-detection-systems-market

Contact Us:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, DE. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.