Press release
Leading Growth Driver in the Faucet Market in 2025: Urbanization Surge Fuels Faucet Market Growth Driver's Influence
Faucet
The faucet market's progression is being fueled by urbanization's rise. The gradual relocation of people from the countryside to cities in pursuit of job opportunities and an enhanced lifestyle is fuelling a global surge in urbanization. A key consequence of this shift is the escalating demand for residential and commercial properties, thereby amplifying the need for faucets. As per the United Nations Department of Economic and Social Affairs, it is estimated that by 2050, 68% of the world's population will be living in urban areas, and this increase will primarily be witnessed in the regions of Africa and Asia. Consequently, the upcoming surge in urbanization is poised to elevate the demand for upscale apartments, homes, and high-rise buildings in emerging economies. This rise will, in turn, enhance the demand for premium bathroom and kitchen fittings, including automated or sensor faucets.
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What growth opportunities are expected to drive the faucet market's CAGR through 2034?
In the last few years, the faucet market has seen marked growth. The size of the market is projected to increase from $42.41 billion in 2024 to reach $46.25 billion in 2025, boasting a compound annual growth rate (CAGR) of 9.1%. The noticeable growth in the historic period can be traced back to the spike in housing, initiatives taken for water conservation, prevailing trends in home renovation, economic influences, and the global reach of markets.
The size of the faucet market is predicted to expand swiftly in the coming years, reaching a valuation of $69.71 billion in 2029 while growing at a compound annual growth rate (CAGR) of 10.8%. The growth during this forecast period is expected due to various factors including the integration of smart homes, initiatives for sustainability, evolution in consumer lifestyles, concerns regarding health and hygiene, as well as urbanization trends. The major trends during this forecast period that are anticipated to impact the market include advancements in technology, the integration of smart faucets, the development of sustainable and environmentally friendly designs, and trends towards customization and personalization.
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What are the emerging trends shaping the future of the faucet market?
Tactical collaborations are becoming an increasingly prominent trend in the faucet industry. Faucet producers are partnering up to enhance their offerings. For instance, Jaquar, an India-based firm that produces a variety of products including faucets, bathroom appliances, showers, spas, bathtubs, and other accessories, joined forces with Matteo Thun & Antonio Rodrigues, an Italian firm specializing in designs for sanitary ware, faucets, bathtubs, and other bathroom accessories, in January 2022. The goal of the collaboration is to introduce a new range called Laguna, characterized by enduring beauty and classic simplicity. This range provides faucets in eight different colors with both single and dual-tone options, paving the way for flexibility and diversity in their applications, sparking new interior design opportunities. Alongside this, the sophisticated Laguna collection also offers an extensive choice of sanitary ware, wellness items, and shower cubicles.
Which growth-oriented segments of the faucet market are leading the industry's development?
The faucet market covered in this report is segmented -
1) By Product Type: Electronic, Manual
2) By Material: Metal, Plastics
3) By Technology: Cartridge, Compression, Ceramic Disc, Ball
4) By Application: Bathroom, Kitchen, Other Applications
5) By End User: Residential, Commercial
Subsegments:
1) By Electronic: Sensor-Activated Faucets, Touchless Faucets, Digital Faucets
2) By Manual: Single-Handle Faucets, Double-Handle Faucets, Pull-Down Or Pull-Out Faucets, Wall-Mounted Faucets
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What regions are leading the charge in the faucet market?
North America was the largest region in the faucet market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the faucet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the faucet market?
Major companies operating in the faucet market include Kyocera Corporation, Colston Bath Ltd., LIXIL Group Corporation, Fortune Brands Home & Security Inc., Kohler Co., TOTO Ltd., American Standard Brands Inc., Eczacıbaşı Holding A.Ş., Danze Inc., Hansgrohe SE, Moen Incorporated, Villeroy & Boch AG, Jaquar Group, Globe Union Industrial Corp., Elkay Manufacturing Company, Delta Faucet Company a Masco Corporation, Hindware Industries Limited, Pfister Faucets Inc., Sloan Valve Company, CERA Sanitaryware Ltd., Franke Holding AG, Gerber Plumbing Fixtures LLC, Kerovit S.A., Aqua Source Faucet LLC, Paini UK Ltd., Lota Group, Roca Sanitario S.A., Kraus Inc., Waterstone Products Inc.
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What Is Covered In The Faucet Global Market Report?
•Market Size Forecast: Examine the faucet market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the faucet market for a structured understanding.
•Key Players Overview: Analyze major players in the faucet market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the faucet market.
•Segment Contributions: Evaluate how different segments drive overall growth in the faucet market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the faucet market.
•Industry Challenges: Identify potential risks and obstacles affecting the faucet market.
•Competitive Landscape: Review strategic developments in the faucet market, including expansions, agreements, and new product launches.
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