Global Faucet Market Overview:
Faucet is used for delivering water from a plumbing system. It is used to start and stop the running water from the storage tanks to reduce water wastage. It is widely used in kitchens, bathrooms, gardens, hotels, and public places such as railways, airports, and bus stop. Faucets are designed to survive very harsh conditions, including thousands of on-off cycles every year and hard water mineral build-up, and still provide flawless service. There various types of faucets used based on the requirement where they will be fitted for instance, in utility sink faucets of single-handle or wall-mount is used. The innovations in designs and color in faucets have attracted consumer interest to have customized faucets that match their interiors of home and offices. According to AMA, the Global Faucet market is expected to see growth rate of 7.05%
- Increasing Modernization of Home Bathrooms and Kitchens
- Expanding Residential Sector in North America and Asia Pacific Regions
- Increasing Number of Installation of Faucets in Commercial Places such as Hotels, Shopping Malls, and Other Public Areas
- Trend to Shift From Traditional Faucets to Sensor-based Faucets
- High Installation Cost
- Fluctuating Raw Material Prices
- Growing Preference for Smart Faucets
- Increasing Investments on Luxury Homes and Remodeling
- Growing Demand for Customized Bathroom Faucets
- Development of Technology Equipped Faucets
- Dominance of Local Manufacturers
The global faucet market is highly competitive and diversified due to the presence of a large number of regional and international providers across the globe. These providers are progressively focusing on the production of products that have a higher quality to meet the customer’s expectations such as high performance, reliability, and timely delivery.
Some of the key players profiled in the report are Moen Incorporated (United States), Franke Holding AG (Switzerland), Delta Faucet Company (United States), American Bath Group, LLC (United States), Gerber Plumbing Fixtures LLC (United States), Grohe America, Inc. (United States), The Jaquar Group (India), Kohler Co. (United States), ProFlo (India), TOTO LTD (Japan), American Standard Brands (United States) and LIXIL Group Corporation (Japan). Additionally, following companies can also be profiled that are part of our coverage like Fortune Brands Home & Security, Inc.(United States), Hansgrohe SE (German), Spectrum Brands (United States), Zucchetti Rubinetteria S.p.A (Italy) and Roca Sanitario S.A (Spain). Analyst at AdvanceMarketAnalytics see United States, Europe, and Asian Countries Vendors to retain maximum share of Global Faucet market by 2025. Considering Market by Product Type, the sub-segment i.e. Widespread Faucets will boost the Faucet market. Considering Market by Handles, the sub-segment i.e. Zero will boost the Faucet market. Considering Market by Sales Channel, the sub-segment i.e. Online will boost the Faucet market. Considering Market by Material, the sub-segment i.e. Brass will boost the Faucet market. Considering Market by End User, the sub-segment i.e. Commercial will boost the Faucet market.
In May 2019, GRAFF launched M.E. Faucet Collection, developed in brass, featuring extremely low nickel and lead content. The product meet “green” standards and complies with the most restrictive drinking water regulations as well the criteria required for the protection of health and the environment.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be provided prior to purchase
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Faucet market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Faucet market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Faucet Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.