Report Ocean has recently published the “Faucet Market“ Research Report 2023-2031, offering a comprehensive analysis of the market. This report delves deep into the market dynamics, including key trends, upcoming technologies, drivers, challenges, and regulatory policies. It also features company profiles and strategies of prominent players in the industry. With over 100+ market data tables, pie charts, graphs, and figures, this global market study provides a thorough understanding of the market landscape. It presents a complete assessment, encompassing future trends, current growth factors, informed opinions, factual insights, and industry-validated market data, enabling accurate forecasts until 2031.
A faucet is a device that draws or regulates water flow in a plumbing system. It can consist of the following components: spout, handle(s), lift rod, cartridge, aerator, mixing chamber, and water inlets. The faucet body is usually made of brass, though die-cast zinc and chrome-plated plastic are also used. Bathroom faucets are one of the essential smart accessories that are gaining increasing focus among consumers as well as manufacturers. With the introduction of innovative technologies, manufacturers are providing a wide range of digital and electronic faucets for the domestic and commercial sector.
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Increase in disposable income of the consumers is one of the primary factors that drive the growth of the global faucet market. Rise in trend of home remodeling and thereby increase in usage of trendy & smart bathroom accessories is expected to augment their demand in the market. The introduction of sensor-based bathroom faucets, with an aim to ensure superior hygiene standards and water conservation, is also expected to fuel the growth of the global faucet market during the forecast period. The faucets market is gaining high popularity due to growth in the real estate industry, which leads to rise in construction of residential and commercial buildings that require faucets installation.
In addition, changes in consumer preferences and lifestyle, and exposure to international brands boost the faucets industry. Fragmented structure of the market owing to the presence of various small and large vendors limits the growth of the market. Increase in investment in industrial sector and growth in urban population are anticipated to make way for the market growth in the forecast period.
With strong global concerns about the pandemic, coronavirus has largely but negatively influenced the global faucets market. Moreover, due to high demand and low supply trends, the prices and demand for faucets products increased in 2020 to overcome economic instability. On the contrary, disruptions to the supply chain in shipping could lead to temporary shortages in the supply, putting upward pressure on prices in the short term. The faucets market is gaining high popularity due to growth in the real estate industry, which leads to rise in construction of residential and commercial buildings that require faucets installation.
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The faucets market is segmented on the basis of application, product type, material, end user, and region. The segmentation for application includes bathroom, kitchen, and others.
By product type, it is bifurcated into electronic and manual. By material, it is classified into metal and plastics (PTMT). Based on region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, Spain, Russia and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, ASEAN, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
KEY BENEFITS FOR STAKEHOLDERS
– This report presents a quantitative analysis of the current trends, estimations, and dynamics of the global faucet market from 2019 to 2027 to identify the prevailing market opportunities.
– The key countries in all the major regions are mapped based on their market share.
– Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
– In-depth analysis of the market segmentation assists in determining the prevailing market opportunities.
– Major countries in each region are mapped according to their revenue contribution to the global industry. Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players.
– The report includes the analysis of regional as well as global market, key players, market segments, application areas, and growth strategies.
The key players in the faucets market include LIXIL Group Corporation, Sloan Valve Company, MASCO corporation, Paini (UK) Ltd, Fortune Brands Home & Security, Inc., Roca Sanitario S.A, TOTO Ltd., Spectrum Brands, Danze, Inc., and Rohl LLC.
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KEY MARKET SEGMENTATION
– By Application
o Bathroom
o Kitchen
o Others
– By Product Type
o Electronic
o Manual
– By Material
o Metal
o Plastic (PTMT)
– By End User
o Residential
o Commercial
– By Region
o North America
? U.S.
? Canada
? Mexico
o Europe
? Germany
? France
? UK
? Italy
? Spain
? Rest of Europe
o Asia-Pacific
? China
? Japan
? India
? Australia
? South Korea
? ASEAN (Indonesia, Philippines, Malaysia)
? Rest of Asia-Pacific
o LAMEA
? Latin America
? Middle East
? Africa
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Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
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Marketing and Sales Professionals:
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Product Development and Innovation Teams:
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Investors and Financial Analysts: –
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Key Questions Market Research and Analysis Report
- What is the current market size, both in terms of value and volume?
- What is the historical growth rate of the market, and what are the projected growth rates for the future?
- Who are the major players in the market, and what is their market share?
- What are the market trends and dynamics influencing the industry?
- What are the key drivers of market growth?
- What are the challenges and barriers faced by market participants?
- What are the emerging opportunities in the market?
- What is the competitive landscape of the market?
- What are the consumer preferences, behaviors, and buying patterns within the market?
- What is the market segmentation, and how are different market segments performing?
- What are the pricing trends and strategies in the market?
- What are the distribution channels and their effectiveness in reaching the target audience?
- What are the regulatory and legal factors impacting the market?
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